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Breaking down the ‘executor’s year’

Some beneficiaries are entitled to interest on their inheritance starting one year after death

time is money

Estate planning with TFSAs

Avoid the tax consequences of not distributing a TFSA quickly after the account holder dies

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What your clients should know about real estate renos and repairs

For the best tax treatment, distinguish between current and capital expenses

Canadian parliament in Ottawa

Luxury vehicle tax, DTC changes included in Budget 2022 implementation bill

Bill C-19 gives people who purchased luxury vehicles in 2021 a break

senior women

Ontario proposes new tax credit for seniors

Tories also propose enhancing existing tax credit for low-income earners

Hands Giving & Receiving Money

Prescribed loan rate to rise July 1

Now is the time to lock in 1% prescribed rate on family loans, achieve income splitting opportunity

Ontario Queen's Park Legislative Building

Ontario Liberals promise to boost provincial top-up to OAS

Eligible seniors would receive up to $1,000 more annually

Closed business coronavirus covid-19 crisis recession unemployment

Government data suggests First Nations hit more often with CERB repayment letters

‘CRA took my teeth, my rent, my food,’ says Winnipeg residential school survivor

Canadian flag in front of 24 Sussex Drive

REIT reform not off the table in federal housing review

The federal budget said the government will proceed with a review of “housing as an asset class"

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How Manitoba is changing residential & farm property tax

The province will raise the rebate, on the education tax on residential and farm property, to 37.5% this year and 50% next year

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What advisors are saying about the proposed FHSA

Advisors are still relatively positive about the tax-free first home savings account, despite not being able to use it alongside the Home Buyers’ Plan

Canadian parliament in Ottawa

Feds raise charities’ disbursement quota to 5%

Proposed change in Budget 2022 would "increase expenditures by charities overall," government said

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Budget gives businesses greater access to small business rate

But with no adjustment to the passive income rules, some companies will remain shut out

Busy agenda for Finance in second half of 2022

Here's a list of consultations and pending draft legislation on key tax proposals

Ottawa lost average of $22 billion a year in unpaid tax from 2014-2018: CRA

The agency released its first report on Canada's overall tax gap

Liberal tax promise tracker, summer edition

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

Helping your clients talk to kids about money

The conversation should reflect their age and stage of life

Finding missing beneficiaries

What executors need to know when a beneficiary can’t be easily identified or found

Ontario’s estate audit rules keep executors honest

While audits are uncommon, rules introduced in 2015 ensure stringent reporting of assets