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Allow siblings to act as RDSP holders, report recommends

CRA's disability advisory committee releases its 2022 annual report

Condo buildings in downtown Montreal

Doubling first-time homebuyers’ tax credit to cost $115M: PBO

Meanwhile, eliminating student loan interest would cost $2.7 billion over five years, the Parliamentary Budget Officer finds

image of houses

First-time homebuyers can use FHSA and HBP, feds propose

Rules governing new tax-free home savings account to be effective April 1, 2023

Essential tax numbers: updated for 2023

Use this handy list of tax numbers as a quick reference

  • By: Staff
  • November 18, 2022 November 18, 2022
  • 09:36
Red maple leaf isolated white background.

Liberal tax promise tracker, post-fiscal update

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

Ontario Queen's Park Legislative Building

Ontario to expand access to small-business tax rate, increase disability and senior payments

The province's fall economic outlook forecasts a deficit of $12.9 billion in this fiscal year

The Canada Revenue Agency sign outside the National Headquarters at the Connaught Building in Ottawa is seen on Monday, March 1, 2021. CRA Tax

CRA announces TFSA limit for 2023

Inflation leads to jump in tax bracket thresholds as well

Canadian parliament in Ottawa

Mandatory tax disclosure reprieve likely only temporary

The government is delaying implementation of rules that could affect advisors whose clients use aggressive tax planning

Parliament Hill building closeup in Ottawa, Canada

Taxing corporate share buybacks unlikely to boost investment in operations: experts

Corporations could choose to reward shareholders through dividends instead

electrical plug

TFSA overcontributions still a problem

Federal Court case is the latest reminder of the costs

Inflation will affect tax brackets

Indexing helps your clients’ after-tax income keep pace

Parliament Hill building closeup in Ottawa, Canada

FHSA, other tax proposals tabled in House of Commons

Bill C-32 delays enhanced reporting requirements for trusts, but would implement a new tax credit, the surtax on banks and insurers, and more

Parliament buildings at sunset

Finance gives reprieve on mandatory disclosure rules

The government will delay implementation of new rules that could affect advisors whose clients use aggressive tax planning

  • By: Staff
  • November 4, 2022 November 4, 2022
  • 10:48
Modern condo buildings with huge windows in Montreal, Canada.

Feds extend anti-flipping tax to assignment sales

The 12-month holding period would reset after the taxpayer took ownership of property

Canadian parliament in Ottawa

Fiscal update confirms feds’ plans to proceed with various tax and estate proposals

The update did not provide details on measures set to take effect soon

Business people holding trophy award after win competitor.

Tax-loss selling: investing’s moral victory

Help clients turn investment losses into a tax win

The Canada Revenue Agency sign outside the National Headquarters at the Connaught Building in Ottawa is seen on Monday, March 1, 2021. CRA Tax

CPP maximum pensionable earnings for 2023 announced

The CRA also updated the RRSP dollar limit

  • By: Staff
  • November 1, 2022 November 1, 2022
  • 10:14
illustration of magnifying glass and tax forms

Inflation to trigger bump in TFSA room in 2023

Next year's limit can be calculated using CPI data released Wednesday

tax owing

CRA charging higher interest on amounts owed

Clients who owe the CRA would be wise to pay even if they dispute the amount, experts say

tax season

Which of your fees are exempt from sales tax?

Advisors must navigate a series of complicated excise tax rules to ensure they are charging clients correctly

Bridge to Canada Sign

Court of Appeal upholds sharing of Canadian bank account info with U.S. authorities

FATCA requires banks and other institutions to report information about accounts held by U.S. individuals

Piggy bank lifted up into sky by inflated balloon

Family loan rate rising to 3% on Oct. 1

Clients have until Sept. 30 to lock in the 2% family loan rate

  • By: Staff
  • September 23, 2022 September 23, 2022
  • 10:34
Toronto skyline in financial district

Revised bank recovery dividend to net $1B less

The Parliamentary Budget Officer updated its revenue projections for the Canada Recovery Dividend and the surtax on banks and insurers

  • By: Melissa Shin
  • September 22, 2022 September 22, 2022
  • 11:35
Edmonton downtown, James Macdonald Bridge and the Saskatchewan River at night

Alberta to resume indexing its tax brackets

De-indexing effectively forced Albertans to pay almost $647 million more in taxes from 2020 to 2022

debt

Issues for advisors to watch this fall

Keep an eye on interest rates, inflation, legislation and more

  • By: Staff
  • August 29, 2022 August 29, 2022
  • 12:17