Essential tax numbers: updated for 2021
Use this handy list of tax numbers as a quick reference
Top Stories in Tax
Liberals plan foreign buyers tax in bid to create affordable housing
The fiscal update said the feds plan to tax homeowners who use Canada to passively store wealth in housing
- By: Anita Balakrishnan, The Canadian Press
- December 1, 2020 December 1, 2020
- 16:58
Updated: Government moves ahead with relief for RDSP holders who lose DTC eligibility
Changes to take effect Jan. 1, 2021
- By: Melissa Shin, Rudy Mezzetta
- November 30, 2020 December 4, 2020
- 18:11
Feds to allow up to $400 for home office expenses
A proposal in the fall economic statement aims to provide a simplified claim process
- By: Rudy Mezzetta
- November 30, 2020 November 30, 2020
- 17:43
Employee stock option changes to take effect July 1
CCPCs and employers with annual gross revenues of $500 million or less will be excluded
- By: Mark Burgess
- November 30, 2020 November 30, 2020
- 17:15
How should your clients own real estate properties?
There are benefits and risks to owning property personally, through a trust or through a corporation
- By: Vivek Bansal
- November 27, 2020 November 26, 2020
- 10:00
Transferring a 401(k) or IRA to Canada
Issues and strategies for Canadians thinking about transferring their U.S.-based retirement plans
- By: Rebecca Hett
- November 26, 2020 November 26, 2020
- 14:04
TFSA limit for 2021 released
Find out how much clients can contribute
- By: Rudy Mezzetta
- November 20, 2020 November 20, 2020
- 17:21
How to extract cash from a corporation
Consider these options to avoid unexpected tax results
- By: Wilmot George
- November 20, 2020 November 24, 2020
- 12:00
Ending RRIF withdrawal rules would cost $1B, PBO says
The Liberals shifted the marker this year, dropping the minimum for each senior by 25%
- By: The Canadian Press
- November 19, 2020 November 19, 2020
- 15:43
Budgeting for 2021 CPP changes — and beyond
Will the pandemic lead to higher future premiums?
- By: Doug Carroll
- November 13, 2020 November 13, 2020
- 11:53
Ontario proposes seniors’ renovation tax credit
Refundable tax credit would offer up to $2,500 for eligible home improvement expenses for 2021
- By: Rudy Mezzetta
- November 5, 2020 November 5, 2020
- 16:22
O’Toole calls for pause on CRA audits for businesses struggling due to Covid-19
The Liberals' latest relief provisions have been met with mixed reactions from business groups
- By: The Canadian Press
- November 3, 2020 November 3, 2020
- 15:16
Income and gains on TFSA overcontributions can remain in account, CRA says
There are exceptions for cases of deliberate overcontributions or penalty waivers
- By: Rudy Mezzetta
- November 2, 2020 November 2, 2020
- 16:23
Refinancing prescribed rate loans just became easier
Canada Revenue Agency confirmed a more flexible approach at the Canadian Tax Foundation conference
- By: Rudy Mezzetta
- November 2, 2020 November 2, 2020
- 09:00
Prepare now for tax fallout from Covid-19, says tax expert
An aggressive taxman is on the way, Kim Moody says
- By: Michelle Schriver
- October 30, 2020 October 30, 2020
- 15:31
Pandemic complicates discretionary trust payouts
Trustees must balance the interests of income and capital beneficiaries amid economic uncertainty
- By: Rudy Mezzetta
- October 30, 2020 November 3, 2020
- 09:00
Effective beneficiary designations when converting RRSPs to RRIFs
Help your client avoid these estate planning pitfalls
- By: Tim Brisibe
- October 2, 2020 September 30, 2020
- 09:00
Ontario consults on estate law reform
The province is considering whether to make virtual document signing permanent and whether marriage should still revoke a will
- By: Melissa Shin
- August 28, 2020 August 28, 2020
- 16:10