Almost 14K Canadian families would pay the 1% tax on assets over $20M
New opportunities for tax planning come into effect on July 1
Both the NDP and Green Party have called for a wealth tax
Last year, the PBO was asked to provide an estimate on potential revenues from a wealth tax
Payments must be reported as income for the 2020 tax year
The one-time payment will be tax free and is meant to cover pandemic-related costs
Guidance helps people who cannot leave the U.S. because of pandemic-related travel disruptions
Research points to inadequate conflicts regulation, among other shortcomings
Canadian financial firms must now provide complete tax data on their U.S. clients as the IRS tightens reporting rules
An emergency sitting Tuesday of the House of Commons was suspended moments after it began