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Top Stories in Tax

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Feds to allow up to $400 for home office expenses

A proposal in the fall economic statement aims to provide a simplified claim process

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Employee stock option changes to take effect July 1

CCPCs and employers with annual gross revenues of $500 million or less will be excluded

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How should your clients own real estate properties?

There are benefits and risks to owning property personally, through a trust or through a corporation

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Transferring a 401(k) or IRA to Canada

Issues and strategies for Canadians thinking about transferring their U.S.-based retirement plans


TFSA limit for 2021 released

Find out how much clients can contribute

Coffee Shop owners

How to extract cash from a corporation

Consider these options to avoid unexpected tax results

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Ending RRIF withdrawal rules would cost $1B, PBO says

The Liberals shifted the marker this year, dropping the minimum for each senior by 25%

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Budgeting for 2021 CPP changes — and beyond

Will the pandemic lead to higher future premiums?

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Ontario proposes seniors’ renovation tax credit

Refundable tax credit would offer up to $2,500 for eligible home improvement expenses for 2021

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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

Income and gains on TFSA overcontributions can remain in account, CRA says

There are exceptions for cases of deliberate overcontributions or penalty waivers

Hands Giving & Receiving Money

Refinancing prescribed rate loans just became easier

Canada Revenue Agency confirmed a more flexible approach at the Canadian Tax Foundation conference

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Prepare now for tax fallout from Covid-19, says tax expert

An aggressive taxman is on the way, Kim Moody says

Top 10 tax stories from 2020

There's a lot of tax news to review heading into a new year

  • By: Staff
  • December 24, 2020 December 24, 2020
  • 09:34

CRA promotes public database to track employers using wage subsidies

For privacy reasons, the public registry does not include sole proprietors

Ontario exempting certain IPPs from pension legislation

The new rules will reduce the regulatory burden on plans

Tax consequences when your client leaves Canada

Planning helps reduce the negative impacts

Restraints to testamentary freedom when drafting a will

Help your client avoid these pitfalls

Pandemic complicates discretionary trust payouts

Trustees must balance the interests of income and capital beneficiaries amid economic uncertainty