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Budget proposal will mean “big change” for CRA audits, lawyer says

A speaker at the 2021 STEP conference warns that CRA auditors could soon have greater authority to require individuals to answer questions

Background of Canadian money: 5,10,20,50,100 dollar bills and coins, loonie, toonie, quarter, dime, nickel, penny

Government to reimburse self-employed workers who repaid CERB

Details of how to request the reimbursement have been released

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What U.S. tax proposals mean for Canadians

Breaking down estate tax and capital gains for cross-border clients

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U.S. proposes tax of at least 15% on global corporate profits

The proposed 15% is a floor, with further discussions encouraged to push the rate higher

Bitcoin, Litecoin and Ethereum

U.S. businesses may have to report crypto assets to IRS

The Treasury Department issued a report Thursday that outlines proposals for new measures

Closing Canada’s “tax gap” would raise about $3 billion: report

The 2021 budget proposed new measures and funding to deal with tax evasion

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What the disability tax credit means for eligible Canadians and their families

Qualification is a gateway to additional tax savings

debt

Instalment payments for clients who owe taxes

There are three options used to determine how much taxpayers need to pay each quarter

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After years, U.S. court hands tax win to Michael Jackson heirs

The IRS had wildly inflated the value of the King of Pop's assets

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Federal budget bill includes changes to stock options, annuities, mutual fund trusts

New legislation will adopt a number of measures from the 2019 budget

  • By: Staff
  • May 4, 2021 May 4, 2021
  • 16:47
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Biden’s corporate tax plan takes aim at income inequality

President Joe Biden wants to crack down on the loopholes, shelters and havens that allow multinationals to dodge taxes

The White House in Washington DC, United States

Breaking down Biden’s proposal on long-term capital gains

A look at what could change and who would be affected

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CRA has processed 18.6 million returns so far in 2021

The tax agency has not provided an extension to the April 30 deadline for 2020 returns

income tax owing

Feds propose allowing e-signatures for key tax forms

The CRA would issue electronic notices of assessment as the default when returns are filed electronically

Interior view of the Canada Commons of Parliament, Ottawa

Federal budget 2021: What you need to know

All of Advisor.ca’s 2021 federal budget coverage in one place

  • By: Staff
  • April 19, 2021 April 21, 2021
  • 20:35
Interior view of the Canada Commons of Parliament, Ottawa

Feds propose expanding eligibility for disability tax credit

The DTC is key to programs such as the RDSP and Child Disability Benefit

Federal budget extends Covid support for businesses

New measures include a hiring subsidy and e-commerce support

tax season

Tax highlights from Budget 2021

The budget was missing big-ticket tax changes but Jamie Golombek says there's "something there for everyone"

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Budget 2021 revives tax issues from 2019

IPP changes, annuities and allocation to redeemers are back on the agenda

Yatch in ocean

Liberals put luxury tax in federal budget

Your wealthy clients will pay more for luxury vehicles as of Jan. 1, 2022

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Quebec gives taxpayers an extra month to file return

Ottawa is facing pressure to do the same

Canadian tax form

CRA tax tips for the self-employed

The agency discussed the impact of Covid benefits on tax returns

  • By: Staff
  • April 7, 2021 April 7, 2021
  • 14:28

Biden administration makes pitch for higher business taxes

The extra revenue would fund infrastructure such as roads and broadband

Eager to build infrastructure, Biden plans to tax business

The American president's plan includes hiking the corporate rate to 28% from 21%

Chateau Frontenac in Quebec city, Canada

Quebec extends tax for financial institutions, drops small biz tax rate

The finance minister forecast a deficit of $12.3 billion this fiscal year