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Latest news in Tax News

Tax experts offer advice for business owners

From raising cash to applying for federal support, here's what your clients need to know

Part-time advisor’s business income doesn’t justify ‘staggering’ expenses

A Tax Court case shows what can happen to unsupported claims

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CRA suspends new debt collection to prevent financial hardship

Pre-existing situations will be assessed case by case

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Helping clients access new federal money

Here's a breakdown of the benefit programs and help for small businesses

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Liberals ease minimum RRIF withdrawals as part of pandemic response

Finance Minister Bill Morneau said the minimum withdrawal rate will be 25% lower for 2020

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Liberals pledge up to $82 billion in spending, deferred taxes

The unprecedented package includes a beefed-up Canada Child Benefit, GST tax credits, a wage subsidy and emergency EI benefits

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Speculation or hedge? Supreme Court rules on derivative case

The ruling has implications for tax treatment

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Tax tips for seniors

The CRA details the benefits, credits and expenses that your senior client may be eligible for

  • By: Staff
  • March 11, 2020 March 11, 2020
  • 12:42
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Tax preparer prepares for jail

The former CRA employee was sentenced to more than 4 years for tax fraud

  • By: Staff
  • February 28, 2020 February 28, 2020
  • 14:49

CRA criticized for service delays

Taxpayers’ Ombudsman issues 15 recommendations for improving the agency's performance

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Help clients calculate RRSP limits

Breaking down pension adjustments and other challenges

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Tax tips for students

The CRA provides a handy list of potential tax benefits and credits

  • By: Staff
  • February 12, 2020 February 12, 2020
  • 13:39
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Tax preparer gets jail time for fraud

Clients' tax returns were filed with phoney charitable tax credits, business losses

  • By: Staff
  • February 10, 2020 February 10, 2020
  • 12:55

Sprinkle the income, but beware the tax

A TOSI case study

Testing of T1135 penalties continues

The latest court case highlights the importance of filing on time

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RRSP account size rose in 2019, finds BMO study

And more Canadians hold RRSP accounts than in 2018

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Liberal income tax cut could benefit top earners: PBO

A high earner could benefit by claiming a tax credit for a spouse or child who earns little or nothing

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CRA call centres get a “D” on CFIB’s report card 

Business group says overall quality of service lower and wait times longer than in previous survey

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Ontario’s tax cut for small biz becomes official

The drop in the small business rate, effective Jan. 1, was proposed in the fall fiscal update

  • By: Staff
  • January 6, 2020 January 6, 2020
  • 11:38
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Top 10 tax and estate articles from 2019

From an election-year budget to an advantages folio update, a look back on the year in tax news

  • By: Staff
  • December 23, 2019 December 23, 2019
  • 12:00
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Feds delay changes to employee stock option deductions

Details will come in the 2020 federal budget, Finance Minister Bill Morneau says

A piggy bank with a twenty dollar bill for the money saving mind set.

Finance releases climate payment amounts for 2020

Payments go to residents of provinces that have not adopted federal carbon pricing

  • By: Staff
  • December 16, 2019 December 16, 2019
  • 16:19
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Tax reminders for the end of 2019

At the close of the decade, make sure clients maximize their tax efficiency

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Liberal priorities to include stock option changes, luxury tax

New ministerial mandate letters also address OAS and CPP hikes

Is a holding company right for your client?

Breaking down the tax implications