Proposed exemption from filing the underused housing tax return would only apply for 2023 onward, not 2022
Tax on share buybacks, employee ownership trusts and new family biz transfer rules became effective New Year's Day
Fewer than 2% of UHT returns have involved tax owing
Province tops Canada with 1.7% probate tax on the value of an estate
Bill C-59 addresses issues flagged in the draft legislation
Clients looking to make a large donation might want to do so before proposed changes to the alternative minimum tax become effective
Clients should be prepared for new obligations
Starting next year, LCGE on sale of small biz shares and farm or fishing property will match
Agency confirms the interest rate Canadians must pay on overdue tax will rise to 10%
Inflation has increased available contribution room for the TFSA