CRA releases death-related FHSA forms
The agency will also be releasing a consolidated T4 slip for FHSA account holders
- By: Melissa Shin, The Canadian Press
- August 10, 2023 August 10, 2023
- 16:16
Top Stories in Tax
Feds release draft legislation on alternative minimum tax, intergenerational business transfers
Proposals from the 2023 budget are out for consultation until Sept. 8
- By: Staff
- August 4, 2023 August 4, 2023
- 17:10
Advisors should help business owners prepare for new corporate ownership registry
Bill C-42 would bring public access to private corporations’ beneficial ownership info
- By: Michael McKiernan
- August 2, 2023 August 2, 2023
- 16:33
Bare trusts: Is your client prepared for increased tax filings?
Failure to comply with new tax rules could result in penalties
- By: Catherine Hung
- July 31, 2023 July 31, 2023
- 10:16
CRA releases revised form for mandatory tax disclosures
Expanded reporting regime is intended to help the CRA fight aggressive tax planning
- By: Rudy Mezzetta
- July 27, 2023 July 27, 2023
- 17:16
Prescribed rate to stay at 5% in Q4
The CRA's interest rate on overdue tax will remain the same for a third consecutive quarter
- By: Rudy Mezzetta
- July 25, 2023 July 25, 2023
- 12:17
Canadians still underusing TFSAs
Accountholders' unused TFSA contribution room exceeded the market value of their plans at almost all income levels
- By: Rudy Mezzetta
- July 20, 2023 July 20, 2023
- 16:38
Budget watchdog reviewing underused housing tax again
U.S. critics continue to push for relief for Americans who own seasonal properties in Canada
- By: James McCarten, The Canadian Press
- July 20, 2023 July 20, 2023
- 13:58
Updated GAAR guidance could boost reporting under expanded mandatory disclosure rules
Advisors will need to consider whether to report transactions even if they're not required to
- By: Michael McKiernan
- July 12, 2023 July 12, 2023
- 10:41
Why clients with large RRSPs and RRIFs might benefit from earlier withdrawals
Strategic withdrawals allow clients to smooth out their income levels over retirement
- By: Rudy Mezzetta
- July 11, 2023 July 17, 2023
- 15:23
Liberal tax promise tracker, summer 2023 edition
Here’s the status of tax proposals that matter to your clients
- By: Melissa Shin, Rudy Mezzetta
- July 10, 2023 July 10, 2023
- 16:24
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
- By: Rudy Mezzetta
- June 30, 2023 June 30, 2023
- 13:18
How to properly plan the opening of an FHSA
Clients may be eager but timing is important
- By: Charles-Antoine Gohier
- June 28, 2023 June 28, 2023
- 09:20
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
- By: Michael McKiernan
- September 15, 2023 September 15, 2023
- 12:37
Ottawa to remove GST on new rental housing, extends CEBA loan deadline
The federal government also is calling on grocers to stabilize prices
- By: Dylan Robertson, The Canadian Press
- September 15, 2023 September 15, 2023
- 08:41
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
- By: Rudy Mezzetta
- September 12, 2023 September 12, 2023
- 10:00
Do executors have to accept the role?
What to know before administering an estate
- By: Rudy Mezzetta
- August 18, 2023 August 18, 2023
- 15:01
Feds release draft changes to pension rules for “unlocatable” members
Draft rules are intended to help administrators match beneficiaries with unclaimed pension benefits
- By: Rudy Mezzetta
- June 27, 2023 June 27, 2023
- 17:13
CRA says trustees must report on contingent beneficiaries too
Agency requires names, addresses and taxpayer information numbers under expanded trust reporting rules
- By: Rudy Mezzetta
- June 22, 2023 June 22, 2023
- 09:06
Understanding the underused housing tax
If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties
- By: Frank Di Pietro
- May 15, 2023 June 25, 2023
- 09:39
Understanding the CPP death benefit
The amount has been falling in real terms
- By: Lea Koiv
- May 12, 2023 June 30, 2023
- 10:59
T1135 reporting: What your clients need to know
Failure to report foreign-source income can result in high penalties
- By: Jacqueline Power
- May 5, 2023 June 26, 2023
- 13:15