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CRA releases death-related FHSA forms

The agency will also be releasing a consolidated T4 slip for FHSA account holders

Parliament buildings with Canada flag flying in front

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
Inspecting documents

Advisors should help business owners prepare for new corporate ownership registry

Bill C-42 would bring public access to private corporations’ beneficial ownership info


Bare trusts: Is your client prepared for increased tax filings?

Failure to comply with new tax rules could result in penalties

tax season

CRA releases revised form for mandatory tax disclosures

Expanded reporting regime is intended to help the CRA fight aggressive tax planning

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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

illustration of magnifying glass and tax forms

Canadians still underusing TFSAs

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

Chairs on dock

Budget watchdog reviewing underused housing tax again

U.S. critics continue to push for relief for Americans who own seasonal properties in Canada

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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

retirement planning

Why clients with large RRSPs and RRIFs might benefit from earlier withdrawals

Strategic withdrawals allow clients to smooth out their income levels over retirement

Canadian parliament in Ottawa

Liberal tax promise tracker, summer 2023 edition

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

Exterior of CRA headquarters building

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

young woman in a virtual meeting

How to properly plan the opening of an FHSA

Clients may be eager but timing is important

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

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

The federal government also is calling on grocers to stabilize prices

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

Do executors have to accept the role?

What to know before administering an estate

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

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

CRA says trustees must report on contingent beneficiaries too

Agency requires names, addresses and taxpayer information numbers under expanded trust reporting rules

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

T1135 reporting: What your clients need to know

Failure to report foreign-source income can result in high penalties