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As tax professionals, we are often asked by clients to explain the concept and appropriate uses of holding companies.

After months of public consultation, speculation and concern, the rules regarding Passive Investment Income have finally been unveiled.

The new B.C. Caregiver Credit is effective for 2018 and replaces the Infirm Dependent Tax Credit and the Caregiver Credit.

The 2016 Federal Budget released in March contained proposed changes that may impact selling your business in the near future.

Finance Minister Jim Flaherty delivered the federal budget on March 22, 2011. The budget leaves untouched previously enacted reductions in corporate income tax rates through 2012.

On June 21, 2019, one year after it was tabled in the House of Commons, Bill C-82, An Act to implement a multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting...

In our previous blog, "New Trust Reporting and Disclosure Rules," we wrote about the new Canadian trust reporting and disclosure rules which were originally to come into effect in 2021.

The federal government's 2014 Budget contained a host of changes, including "proposals" to change the taxation of eligible capital property...

Ontario’s Municipal Property Assessment Corporation (MPAC) has completed its reassessment of all real property in Ontario which will take effect on January 1, 2009.

A U.S. taxpayer (UST) making an investment in Canadian real estate is faced with the decision of direct ownership (or through a U.S. entity) or interposing a Canadian entity. Direct ownership can, in some instances, provide certain Canadian tax advantages as outlined below, compared to using a Canadian corporation.

Canada's Prime Minister Mark Carney has unveiled the "Productivity Mega Deduction," a permanent tax measure providing immediate 100% write-offs for approximately 65% of business assets, positioning Canada's marginal effective tax rate on new business investment at 6.4% - the lowest among major economies. Alongside this initiative, the Canada Revenue Agency will now prioritize advance income tax rulings for investments exceeding $1 billion, aiming to deliver decisions within 90 business days to accelerate ma

The federal government's 2014 Budget contained a host of changes, including "proposals" to change the taxation of eligible capital property (i.e., goodwill, patents, trademarks, intellectual property, etc.)...

In 2005, foreign direct investment in Canada rose $10.0 billion to $398.4 billion at the end of the fourth quarter. This increase came mostly from acquisitions of Canadian firms by foreign investors and largely from overseas countries.

Richard Homburg's $1.16 million stock option deduction was denied after the Tax Court found his company's own securities filings contradicted his claim of arm's length dealing. The case demonstrates how corporate disclosures made to investors and regulators can become decisive evidence in tax disputes, even when ownership structures appear to support a taxpayer's position.

On April 19, 2021, the federal government tabled its budget bill, Bill C-30, An Act to implement certain provisions of the budget tabled in Parliament ("Bill C-30"), which contained amendments to...

The Accounting standards for inventory is 10 pages in both Accounting Standards for Private Enterprises (ASPE) and International Financial Reporting Standards (IFRS).

On May 6, 2024, the CRA released a circular that explains the requirement, as per the Excise Tax Act, that manufacturers of beer or malt liquor, wort, yeast or malt products provide financial security.