Your Aging Parent’s Home: Tax and Probate Risks
Adding Yourself to Your Aging Parent’s Home: Tax and Probate Risks Canadians Should Know As parents age, many Canadian families look for ways to simplify estate planning. One common idea is adding an adult child to the title of the parent’s home. While this may seem straightforward, adding a child to a parent’s home can […]
Tax Rates 2025 – For ON Residents
Tax Rates for Calendar Year 2025 for Ontario Residents Definition of Effective Rate and Marginal Tax Rate: The effective tax rate is the actual percentage you pay on your taxes. It’s based on the weighted average tax rate on your taxable income. The marginal tax rate is the tax rate imposed on your last dollar […]
Life Insurance
How Life Insurance Helps Canadian Business Owners Save Tax and Protect Wealth Corporate Life Insurance Strategies for Tax-Efficient Estate & Cash Planning When most business owners think about life insurance, they think about protecting their family. But for incorporated Canadian business owners, life insurance can also be a powerful tax and financial planning tool—both during […]
Arm’s-length standard in transfer pricing – 2025 proposed budget
The “arm’s-length” standard is reinforced: In the 2025 federal budget, the government has proposed a major overhaul of Canada’s transfer-pricing regime, improving the alignment with the Organisation for Economic Co‑operation and Development (OECD) guidelines and reinforcing the “arm’s-length” standard. The reforms introduce a new adjustment rule that applies when related-party cross-border transactions involve actual conditions […]
Relief Measures for Businesses Affected by U.S. Tariffs
Relief Measures: The Government of Canada has announced extensions and new relief measures to support Canadian businesses impacted by U.S. surtaxes: Exemption extension: U.S. goods used in manufacturing, processing, or food & beverage packaging are exempt for two additional months. The exemption now includes agricultural inputs. Temporary waiver: Imports related to public health, safety, or […]
CRA 100-Day Service Improvement Plan (Sept 2 – Dec 11, 2025)
The Canada Revenue Agency (CRA) has launched a 100-day plan to address recent service challenges and improve how Canadians access support. The initiative focuses on reducing delays, expanding digital tools, and ensuring faster, more reliable service. Key Focus Areas: Answering More Calls Added more call centre agents (as of Sept 8) to cut down wait […]
Major infrastructure & resource projects being fast-tracked
The federal government under PM Mark Carney has selected several large projects (mines, ports, a small modular nuclear reactor, expanding LNG Canada, etc.) to be sped up through a new “major projects office” to reduce regulatory delays. ReutersThis signals a push toward boosting domestic economic capacity and reducing dependency on external supply chains.
Provincial Tax Credit / Rate Changes
Several provinces have announced their own changes: British Columbia – The Interactive Digital Media Tax Credit is being increased from 17.5% to 25%, effective September 2025, and will be made permanent. (Source: Canada.ca) British Columbia – The Clean Buildings Tax Credit has been extended by one year. (Source: Canada.ca) Nova Scotia – The lower corporate […]
Middle-Class Personal Tax Cut Effective July 1, 2025
The federal lowest income tax rate is cut from 15% to 14%, affecting taxable income up to C$57,375 . For 2025, mid-year implementation brings an effective rate of 14.5%, dropping fully to 14% in 2026. This benefits nearly 22 million Canadians, with savings averaging up to $420/person or $840/couple, totaling over $27 billion over five years […]
Potential Tax Changes
Federal Tax Changes 1. Middle-Class Income Tax Cut The federal government is implementing a reduction in the lowest personal income tax rate from 15% to 14%, effective July 1, 2025. This measure is expected to benefit approximately 22 million Canadians, with two-income households potentially saving up to $840 annually. The initiative is part of a […]