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New home savings account a “substantial” measure for new buyers

CIBC's Jamie Golombek breaks down how the new account will work

image of houses

Feds propose anti-flipping tax to cool housing prices

Profits on sale of residential property held for less than 12 months would be taxed as business income

Canadian parliament in Ottawa

Large RRSP balances, Bill C-208 addressed in 2022 budget

The government plans to consult on how to allow "genuine" intergenerational share transfers

Canadian parliament in Ottawa

Liberals to bring in new minimum tax on top earners

The measure would target those among the top 0.5% not paying their "fair share" of taxes

Canadian tax form

When is the best time to take CPP and OAS?

Advisors need to consider several aspects, such as life expectancy and whether the client will spend or invest CPP and OAS

Condo buildings in downtown Montreal

The Liberals plan to review tax treatment of REITs. Will this help renters?

Targeting REITs and other large owners of residential real estate such as lifecos and pension plans might disincentivize investment, one expert says

Parliament buildings in winter

Federal budget to drop April 7

The budget is expected to include new social programs promised as part of the Liberals' agreement with the NDP

The White House in Washington DC, United States

Biden’s budget plan includes 20% minimum tax on households worth $100 million or more

New tax on the ultra wealthy would include ``unrealized gains''

house versus cottage

Tax reminders for clients who bought, renovated or sold homes in 2021

CRA outlined credits, rebates and reporting requirements

  • By: Staff
  • March 24, 2022 March 24, 2022
  • 16:58
Chateau Frontenac in Quebec city, Canada

Quebec to pay $500 to 6.4 million taxpayers to offset inflation

The province's economy has posted a ``remarkable'' recovery from the pandemic, says Finance Minister Eric Girard

Parliament Hill building closeup in Ottawa, Canada

Tracking Liberal tax proposals before the budget drops

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

calculating numbers for income tax return with glasses pen and calculator

CRA announces prescribed rate for Q2 2022

Despite inflation, the prescribed rate on loans to family members remains set at 1%

  • By: Staff
  • March 15, 2022 March 15, 2022
  • 12:38
couple saving money together

No court relief for accidental RRSP overcontribution

A lack of understanding about spousal RRSP limits was no excuse

spousal RRSP

Spousal RRSPs: What you need to know

Make sure clients don’t run afoul of the attribution rules

Luxury interior in bright colors of genuine leather in the business jet

Luxury vehicle tax proposed to begin Sept. 1

Feds release draft legislation on luxury vehicle tax, which targets pricey planes, boats and automobiles, for consultation

  • By: Staff
  • March 11, 2022 March 11, 2022
  • 16:20
illustration of magnifying glass and tax forms

Most TFSA holders don’t maximize contributions

Latest TFSA data shows that unused room exceeds the tax-free account’s fair market value for most accountholders

Parliament buildings at sunset

2022 federal budget to focus on housing, tax fairness: experts

With the government busy implementing previously announced measures, major initiatives are unlikely to be included

calculate

ETF industry closer to resolving lingering tax question

Revised allocation to redeemers formula was proposed in draft legislation released earlier this month

small business owner during the pandemic

End to interest relief on pandemic benefits could lead to more insolvencies

A study found that tax obligations and student loans drove a rise in unsecured debt

  • By: Staff
  • February 14, 2022 February 14, 2022
  • 12:42
Canadian tax form.

Income tax returns for 2021: what you need to know

The Canada Revenue Agency highlights new or adjusted credits and deductions

  • By: Staff
  • February 11, 2022 February 11, 2022
  • 13:57
Parliament buildings in winter

Feds release draft legislation on trust reporting, ETF taxation

Draft legislation also seeks to implement a raft of proposals from Budget 2021 

tax season

Three things to do before tax season

Now is the time to review plans jolted by the pandemic

business expenses

Advisor’s expense claims get cold reception at Tax Court

After starting a side business selling insurance, an advisor went too far in claiming expenses

Human Hand Poking House And Bubble With Needle Against Cloudy Sky

Foreign homeowner tax to yield less than Liberals plan: PBO

The tax is part of the federal government's plan to crack down on rising home prices

American Dollar Symbol Standing On Wood Surface In Front Of A Graph

Buyer beware: Foreign income in a corporation

Help business-owner clients manage foreign dividend investments

  • By: Jon Hreljac
  • January 28, 2022 January 28, 2022
  • 12:27