Home Tax

Top Stories in Tax

The cost of TFSA contributions for non-residents

Case study explains the consequences

father and son conversation

Help clients prepare for a serious illness

Clients may be more open to discussing serious illness planning than death planning

  • By: Melissa Shin
  • September 26, 2023 September 26, 2023
  • 16:29
Mortgage signing

CRA offers no relief on stiff penalties for late-filing UHT returns

Tax agency releases underused housing tax self-assessment tool

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

Alberta downplaying pension plan proposal risk, experts say

Broad estimates and generous assumptions may mean the APP is less viable than it seems

Judge makes ruling

Lawyers temporarily exempted from CRA’s mandatory disclosure requirements

The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms

Red For Rent sign closeup against brick building

Ottawa to remove GST on new rental housing, extends CEBA loan deadline

The federal government also is calling on grocers to stabilize prices

Sunrise at Parliament Hill stock photo

Does the underused housing tax apply to 24 Sussex Drive?

The Canada Revenue Agency's extended deadline to file a UHT return and pay any tax is approaching

Calculator paper tape rolled up

Updated tax-avoidance proposals include new penalty

Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule

Exterior of CRA headquarters building

CRA announces prescribed rate for Q4

Interest rate Canadians must pay on overdue tax will remain 9%

CRA signage

CRA offers minor relief on reportable transactions

The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20

Canadian tax form

New alternative minimum tax regime to raise $2.6B: PBO

Canadians making above $300,000 to contribute 98% of total AMT

Tax collection

IRS plans crackdown on 1,600 millionaires to collect back taxes

Artificial intelligence is playing a big role in identifying wealthy tax dodgers

Senior couple doing the income tax declaration online

Help clients address an underfunded pension

Don’t let outdated pension rules threaten your client’s retirement plans

Review finds at least 120 CRA employees claimed Covid benefits while employed

The CRA said in July that it had let 20 employees go as a result of its CERB investigation

Ongoing cost of living crisis should trigger another housing benefit payment: Singh

The first $500 top-up was rolled out just before Christmas and distributed $402 million

Why high earners and business owners may not have fully funded pensions

Current regulations are outdated and artificially cap contributions

Do executors have to accept the role?

What to know before administering an estate

CRA releases new form for reporting beneficial ownership of trusts

Trustees must use Schedule 15 to report names, addresses and tax information numbers for beneficiaries

Feds release draft changes to pension rules for “unlocatable” members

Draft rules are intended to help administrators match beneficiaries with unclaimed pension benefits

Canadians still underusing TFSAs

Accountholders' unused TFSA contribution room exceeded the market value of their plans at almost all income levels

Understanding the underused housing tax

If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties

Understanding the CPP death benefit

The amount has been falling in real terms

  • By: Lea Koiv
  • May 12, 2023 June 30, 2023
  • 10:59