Wealthy clients who earn capital gains and make large donations will be hit
The move follows pledges to review housing as an asset class
Late-filing penalties and arrears interest on taxes owing are costly
Affected owners have until Oct. 31 to file or pay before incurring interest and penalties
How section 166 certificate applies to underused housing tax, when HST applies to tips and deducting Covid benefit repayments
Taxpayers who do not seek advice regarding their offshore assets can easily run afoul of the T1135 reporting rules
Western provinces look to assert autonomy with revenue agencies
Revenues up 17.6%, expenses down 15.6% from first seven months of 2021
Meanwhile, eliminating student loan interest would cost $2.7 billion over five years, the Parliamentary Budget Officer finds
Bill C-32 delays enhanced reporting requirements for trusts, but would implement a new tax credit, the surtax on banks and insurers, and more