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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Your Aging Parent's Home: Tax & Probate Risks You Should Know
When a parent’s home is transferred or sold, the tax implications for Ontario families can be significant and costly if not planned for in advance. This guide walks through the key risks, from capital gains exposure to probate fees, and what you can do to protect the family estate.
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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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