March 29, 2024
Previously, we had informed you of new trust reporting requirements for bare trusts which came into effect for 2023 (with a filing deadline of April 2, […]
March 30, 2023
Summary of changes impacting tax measures: The 2023 Canadian Federal Budget was presented March 28, 2023. A number of changes were proposed, below is a quick summary […]
February 22, 2023
Underused Housing Tax In Fall 2022, the federal government passed legislation relating to the “Underused Housing Tax,” designed to tax foreign ownership of vacant housing andthese […]
June 5, 2020
Since mid-March, the federal and provincial governments have announced the creation of numerous programs to help both individuals and Canadian businesses with the financial fallout of […]
May 5, 2020
The Old Age Security program is the only aspect of Canada’s retirement income system which does not require a direct contribution from recipients of program benefits. […]
May 5, 2020
The past few months have been an almost perfect storm of bad financial news for Canadian retirees. The historic stock market downturn which occurred in mid-March […]
April 5, 2020
Suspension of review, audit and collection activities The Canada Revenue Agency regularly carries out review activities in which taxpayers are asked to provide documentation or other […]
April 5, 2020
Wage subsidy program for employers The federal government will be providing eligible employers who have experienced a significant decline in revenues with a wage subsidy. For […]
April 5, 2020
Changes to filing and payment deadlines for 2019 returns Individual Canadians are generally required to file their tax returns for the 2019 tax year on or […]
February 19, 2020
Income tax is a big-ticket item for most retired Canadians. Especially for those who are no longer paying a mortgage, the annual tax bill may be […]
February 19, 2020
If there is one invariable “rule” of financial and retirement planning of which most Canadians are aware, it is the unquestioned wisdom of making regular contributions […]
February 19, 2020
There’s no denying that the Canadian tax system is complex, even for individuals with relatively straightforward tax and financial circumstances. As well, significant costs can follow […]
January 14, 2020
The Canada Pension Plan contribution rate for 2020 is increased to 5.25% of pensionable earnings for the year. The maximum pensionable earnings for the year will […]
January 14, 2020
The Quebec Pension Plan contribution rate for employees and employers for 2020 is 5.7%, and maximum pensionable earnings are $58,700. The basic exemption is $3,500. The […]
December 14, 2019
For most Canadians, registered retirement savings plans (RRSPs) don’t become top of mind until near the end of February, as the annual contribution deadline (which, for […]
November 14, 2019
To win elections, politicians need votes. And to run the election campaigns needed to garner those votes, those politicians need an organization, volunteers, and money — […]
November 14, 2019
Most Canadians expend a considerable amount of time and effort in order to put money aside for retirement. Especially in an era in which the majority […]
November 14, 2019
The start of fall marks a lot of things, among them a number of runs, walks and other similar events held to raise money for a […]
November 14, 2019
Planning for – or even thinking about – 2020 taxes when it’s not even December 2019 may seem more than a little premature. However, most Canadians […]
October 14, 2019
Tax-free savings accounts (TFSAs) have been around for a full decade now, having been introduced in 2009, and for most Canadians, a TFSA (along with a […]