Income taxes – Investment Executive https://www.investmentexecutive.com Canada's news source for financial professionals Thu, 25 Apr 2024 20:41:01 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.investmentexecutive.com/wp-content/uploads/sites/3/2018/01/cropped-favicon-1-32x32.png Income taxes – Investment Executive https://www.investmentexecutive.com 32 32 Feds to give CRA new powers to compel data from taxpayers https://www.investmentexecutive.com/news/industry-news/feds-to-give-cra-new-powers-to-compel-data-from-taxpayers/ Thu, 25 Apr 2024 20:23:35 +0000 https://www.investmentexecutive.com/?p=484755 The agency could extend reassessment period if a taxpayer is issued a notice of non-compliance

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]]> CRA launches new verification method for online access https://www.investmentexecutive.com/news/industry-news/cra-launches-new-verification-method-for-online-access/ Mon, 15 Apr 2024 18:19:06 +0000 https://www.investmentexecutive.com/?p=483775 The new verification process will be more convenient, but not all taxpayers will benefit

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]]> Ensure your client reports all RRSP contributions https://www.investmentexecutive.com/inside-track_/jamie-golombek/ensure-your-client-reports-all-rrsp-contributions/ Wed, 10 Apr 2024 20:05:34 +0000 https://www.investmentexecutive.com/?p=483475 In one case, failure to report resulted in an overcontribution penalty

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]]> Rep incorporation proposals prove to be sticky wicket https://www.investmentexecutive.com/news/from-the-regulators/rep-incorporation-proposals-prove-to-be-sticky-wicket/ Mon, 08 Apr 2024 21:26:46 +0000 https://www.investmentexecutive.com/?p=483358 Industry divided on, investor advocates opposed to, reforms

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]]> CRA’s focus on real estate audits paying off https://www.investmentexecutive.com/news/industry-news/cras-focus-on-real-estate-audits-paying-off/ Mon, 08 Apr 2024 16:26:43 +0000 https://www.investmentexecutive.com/?p=483332 Agency assessed $2.7 billion in additional tax and penalties from 2015 to 2023

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]]> Underused housing tax not meant to generate extra tax revenue, CRA says https://www.investmentexecutive.com/news/industry-news/underused-housing-tax-not-meant-to-generate-extra-tax-revenue-cra-says/ Fri, 29 Mar 2024 17:13:17 +0000 https://www.investmentexecutive.com/?p=482979 Agency has spent more administering the UHT than it has assessed so far 

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]]> Bare trust debacle makes fools of the law-abiding https://www.investmentexecutive.com/insight/editorials/bare-trust-debacle-makes-fools-of-the-law-abiding/ Fri, 29 Mar 2024 16:38:01 +0000 https://www.investmentexecutive.com/?p=482977 Editorial: Last-minute policy reversals undermine an already fragile trust between tax authorities and the public

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]]> CRA exempts bare trusts from reporting requirements for 2023 https://www.investmentexecutive.com/news/industry-news/cra-exempts-bare-trusts-from-reporting-requirements-for-2023/ Thu, 28 Mar 2024 19:11:09 +0000 https://www.investmentexecutive.com/?p=482934 Filing is required only if directly requested by the Canada Revenue Agency

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]]> Firms face flood of requests for home office expense forms  https://www.investmentexecutive.com/news/industry-news/firms-face-flood-of-requests-for-home-office-expense-forms/ Wed, 27 Mar 2024 15:36:48 +0000 https://www.investmentexecutive.com/?p=482804 Some firms concerned CRA’s employee expense policy could thwart return-to-office initiatives, EY Canada tax expert says 

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]]> Ontario expands vacant home, foreign speculation tax regimes https://www.investmentexecutive.com/news/industry-news/ontario-expands-vacant-home-foreign-speculation-tax-regimes/ Tue, 26 Mar 2024 20:03:14 +0000 https://www.investmentexecutive.com/?p=482742 Province will encourage municipalities to set higher VHT rate for foreign-owned homes

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