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...
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Tax Insights from the Capital Tax Team
In-depth articles on Canadian tax law, accounting strategy, and financial planning, written in plain language.
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...
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Life Insurance
How Life Insurance Helps Canadian Business Owners Save Tax and Protect Wealth Corporate Life Insurance Strategies for Tax-Efficient Estate &...
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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...
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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....
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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...
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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...
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Provincial Tax Credit / Rate Changes
Several provinces have announced their own changes: British Columbia – The Interactive Digital Media Tax Credit is being increased from...
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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...
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Potential Tax Changes
Federal Tax Changes 1. Middle-Class Income Tax Cut The federal government is implementing a reduction in the lowest personal income...
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Post-election changes to your taxes:
With Mark Carney and the Liberals returning to power, tax policy is set to remain a top priority. Promises are...
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Be careful when claiming moving expenses
CRA wins case against remote worker who claimed $67,000 in moving expenses This case revolves around an Ontario taxpayer who,...
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Increased TFSA Contributions
In 2024, Canadians achieved a new milestone in their Tax-Free Savings Accounts (TFSAs), with average balances reaching an all-time high...
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Capital Gains Tax Changes
The Canadian government has postponed the implementation of proposed changes to the capital gains tax until January 1, 2026. Initially...
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Foreign property disclosure
Who Needs to File? In Canada, if you own foreign property with a cost exceeding CAD 100,000 at any time during the...
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Trump’s Reciprocal Tariffs
Trump’s Reciprocal Tariffs Could Disrupt Established Trade Policies: Tariff Matching Strategy The idea behind reciprocal tariffs is that if a...
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Federal Income Tax Bracket Adjustments for 2025
To account for inflation, federal income tax brackets have been adjusted for the 2025 tax year. The new brackets are...
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Bare Trust
What is a Bare Trust? Bare trust is a type of trust where the trustee acts as an agent for...
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What is better for you: Salary or Dividend
Options to Withdraw Funds: The two most popular options to withdraw funds from the business are taking a business salary...
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Underused Housing Tax (UHT)
What is the Underused Housing Tax? It is not safe to assume that the Underused Housing Tax may not apply...
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Federal Budget 2022
Federal Budget 2022 On April 7th, 2022 the Federal Budget was released. This budget paper provides an overview and highlights...
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Benefit from 2022 Ontario’s Staycation Tax Credit
Ontarians who are planning a vacation (including family getaways) within the province this year could benefit from tax refund under...
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Evolving Tax Rules in Real Estate Industry
1- Am I considering all deductible expenses when preparing tax returns ? Commission Rebates Car expenses Work-space-in-the-home expenses Meals and...
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Consider Incorporation
Advantages of Incorporation 1- Limited Liability With a corporation, individual shareholders are not responsible for corporate debts or other liabilities....
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RRSP – Should I Maximize?
Common Perspective: Maximize RRSP! When it comes to savings for retirement, nothing can beat it! Reality: Always consider below before...
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Renting Principal Residence – Changings in Principal Residence
Renting Principal Residence – Change in use of Principal Residence What is Principal Residence: Principal Residence is the housing unit...
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Government Promise Free and Automatic Tax Returns
Free automatic tax returns system promised for simple tax filers: This is a long-overdue change that will result in hassle...
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Tax Deadlines
Below are key income tax filing and payment deadlines Tax filing and Tax Deadlines Avoid interest and penalties by filing...
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Uses of Financial Statements
Financial Statements Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial...
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