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Top Stories in Tax

Power of attorney and incapacity planning: Do you have a plan?

Addressing estate planning’s ignored middle child

Bridge to Canada Sign

Court of Appeal upholds sharing of Canadian bank account info with U.S. authorities

FATCA requires banks and other institutions to report information about accounts held by U.S. individuals

Piggy bank lifted up into sky by inflated balloon

Family loan rate rising to 3% on Oct. 1

Clients have until Sept. 30 to lock in the 2% family loan rate

  • By: Staff
  • September 23, 2022 September 23, 2022
  • 10:34
Toronto skyline in financial district

Revised bank recovery dividend to net $1B less

The Parliamentary Budget Officer updated its revenue projections for the Canada Recovery Dividend and the surtax on banks and insurers

  • By: Melissa Shin
  • September 22, 2022 September 22, 2022
  • 11:35
Will document

Disinheriting a child easier in some provinces than others

Recent legal cases highlight varying testamentary freedom across Canada

Edmonton downtown, James Macdonald Bridge and the Saskatchewan River at night

Alberta to resume indexing its tax brackets

De-indexing effectively forced Albertans to pay almost $647 million more in taxes from 2020 to 2022

debt

Issues for advisors to watch this fall

Keep an eye on interest rates, inflation, legislation and more

  • By: Staff
  • August 29, 2022 August 29, 2022
  • 12:17
Business people at work in their office

What to know about the new intergenerational transfer rules

Business owners planning for succession must meet certain criteria

The Saskatchewan Legistlative building in the background and a fountain on Wascana lake on a lovely summer day in Regina.

Saskatchewan reverses planned tax hike, will issue $500 to residents

The province has enough money to balance the 2022-23 budget, says Finance Minister Donna Harpauer

Canadian parliament in Ottawa

Liberal tax promise tracker, end of summer edition

Here’s the status of proposals that matter to your clients

Old vintage books in a row

Disinherited children win big in Alberta and B.C. courts 

Such scenarios are becoming increasingly common as estate sizes increase, a Vancouver lawyer suggests

Interior view of the Canada Commons of Parliament, Ottawa

Feds move ahead with CCPC measures

Draft legislation includes expanded SBD access, definition of substantive Canadian-controlled private corporation

image of houses

New First Home Savings Account: everything you want to know

Department of Finance releases details today that outline the age limit and allow unused contribution room to be carried forward

Draft legislation addresses trust reporting, anti-flipping rules

The legislation also covered changes to RRSP and RRIF reporting, charity disbursements and more

Feds soften banks’ recovery dividend in draft legislation

However, the bank and insurer surtax remains at 1.5% for profits over $100M

New and upgraded tax credits coming for clients

The Liberal government is moving ahead with tax proposals

Ontario amends estate forms, again, to clarify instructions

The province aims to streamline probate applications and speed the court review process

Helping your clients talk to kids about money

The conversation should reflect their age and stage of life

Breaking down the ‘executor’s year’

Some beneficiaries are entitled to interest on their inheritance starting one year after death