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2016 Year-end tax planning guide

Nobody likes to pay too much tax. Luckily, there are a number of tax-saving measures that can help with just that—both for businesses and individuals. But, in order to capitalize on these opportunities, now’s the time to review your 2016 tax situation to see if any apply to you. [November 10, 2016] More...

2016 federal budget: cross-border impact

The new Liberal government’s first budget included a number of cross-border measures impacting transfer pricing documentation, the arm’s length principle for transfer pricing, the back-to-back loan anti-avoidance rules, and the cross border anti-surplus stripping rules. [April 29, 2016] More...

2016 federal budget: impact on families

The new Liberal government’s first budget included a number of measures impacting families. The new Canada Child Benefit, replacing the existing Universal Child Care Benefit (UCCB) and Canada Child Tax Benefit (CCTB) programs, is the one that has been highlighted by the government. However, there were other measures as well, including the elimination of the Family Tax Cut income-splitting tax credit, and the phasing out of both the children’s fitness and children’s arts credits. [April 8, 2016] More...

2016 federal budget: impact on investors

The 2016 federal budget, released on March 22, contains several items of interest to investors. Some of the proposals provide a limited window of time for investors to take action before the new rules come into effect. [April 25, 2016] More...

2016 federal budget: impact on professionals

Professionals that are regulated by a governing professional body—such as physicians, dentists, veterinarians, lawyers, accountants, engineers and architects—often choose to operate through professional corporations (PCs). In the weeks prior to the 2016 federal budget, there was some concern that the new Liberal government would amend the definition of the types of companies that qualify for the small business tax rate, with the concern being that a PC would no longer qualify for the small business deduction (SBD). [March 31, 2016] More...

2017 British Columbia update summary

As a result of the change in government on May 2017, Finance Minister Carole James presented a budget update on September 11, 2017. The update addresses the new government’s key commitment to improving affordability, enhancing critical services and building a strong, sustainable, and innovative economy that creates jobs and works for everyone. [September 19, 2017] More...

2017 Fall Economic Update

On October 24, Finance Minister Bill Morneau tabled the 2017 Fall Economic Statement. In the statement, the government reiterated its continuing focus to invest in the economy so that it works for the middle class and those working to join it. [October 25, 2017] More...

A CRA initiative to review the tax-exempt status of non-profit organizations

In the latter part of 2009, the Canada Revenue Agency (CRA) embarked on a formal initiative to review the tax-exempt status of non-profit organizations (NPOs). One of the key issues being examined is whether the organization is operated exclusively for any purpose except profit. This initiative has led to some concern that the CRA may be broadening the types of situations where an entity would fail to qualify as a tax-exempt NPO. [March 2, 2011] More...

About to turn 65? Consider deferring receipt of OAS

Starting July 2013, you can delay receipt of your Old Age Security (OAS) pension for up to five years (60 months) after the month you turn 65. For every month that you delay receipt of your OAS benefits, an additional 0.6% is added to your pension entitlement. [September 4, 2013] More...

Action required: pension plans must provide information by November 15

Pension and other investment plans that invest in distributed investment funds and other investment plans may be required to provide certain information without receiving a formal request. [November 11, 2011] More...