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From our annual Tax Tips guide, here are the tips and suggestions related to changes to the Principal Residence Exemption in 2016.

Failure to file the election with CRA on a timely basis may result in assessments for the otherwise applicable tax plus associated interest.

There may be IRS withholding obligations under the Foreign Investment in Real Property Tax Act when a non-U.S. person disposes of a U.S. real property interest.

In the 2010 Federal Budget, the Department of Finance announced a significant, and very welcome, amendment to the Income Tax Act (Canada) (the "Tax Act"), which should greatly facilitate non-resident investment into Canada.

On April 16, 2024, Canada's Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the Liberal Government's federal budget, Fairness for Every Generation (Budget 2024).

On a macro-economic level, the Budget forecasts a surplus of $879 million for fiscal 2014/2105 and smaller surpluses, ranging from $284 million to $399 million, for the following 3 years.

An election with an effective date prior to 2015 must be filed with the CRA by the fast-approaching deadline of December 31, 2015 to remain valid for supplies made in 2015 and future years.

On November 30, 2020, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, released Supporting Canadians and Fighting COVID-19: Fall Economic Statement 2020 (the "Economic Statement").

As private capital funds continue to evolve, investors must navigate an increasingly complex environment shaped by significant tax reforms, regulatory shifts and compliance requirements.

Un crédit d'impôt remboursable temporaire, pouvant atteindre un maximum de 175 000 $ par année d'imposition, est instauré pour les sociétés propriétaires d'un établissement hôtelier...

The MLI has been signed by 78 countries including Canada.

Closely related Canadian corporations and partnerships often use an election under section 156 of the Excise Tax Act (Canada) to manage GST/HST.

On January 16 and 17, 2017 CRA participated in a meeting of the Joint International Taskforce on Shared Intelligence and Collaboration Network (JITSIC), a network of over 35 tax administrations.

As the Government of Canada prepares to present its 2021 budget on April 19, 2021, taxpayers should be aware of how potential increases to the capital gains inclusion rate may affect their...

Canada and its new government find themselves at a crossroads in the summer of 2025. The Trump administration's first six months have changed (likely forever) Canada's relationship with its closest neighbour and largest trading partner.

Samantha Prasad shares planning tips for your RRSP in "RRSP tax plan: Tips to help you and your family make the most of your RRSPs" published in The TaxLetter, January 2015 edition.

The Canada Revenue Agency has traditionally taken a hard line on expenses incurred by an acquirer or a target and has denied deductibility on the basis that these expenses are of a capital nature.