April 16, 2024 by Sean Grant-Young, Rosa Maria Iuliano, Myriam Lesieur, Joseph Belanger
The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, today tabled her fourth budget – “Fairness for Every Generation.”
The following is a brief overview of the key tax measures.
March 4, 2022 by John F. Oakey
On February 24, the PEI government released their 2022 budget. The following are highlights of the key tax measures.
Historically, the success or failure of most brands has been a direct result of products and services.
November 1, 2021 by Rosa Maria Iuliano
The new Ontario Business Registry was launched on Oct. 19, 2021 for businesses and not-for-profit corporations of all sizes. The new registry permits registered entities to access more than 90 services online including registering a new business, dissolving an existing one and filing an annual return. The registry is available 24 hours a day, 365 days a year.
May 13, 2021 by John F. Oakey
Updated May 13, 2021 (see below)
The Canada Revenue Agency (CRA) and Service Ontario announced they are severing ties as of May 15, 2021 regarding the agreement to submit Ontario corporate annual information returns through the CRA’s tax filing system.
March 9, 2021 by John F. Oakey
The Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) were legislated to be available until June 2021 with details of the program provided up to March 13. On March 3, the Department of Finance announced the details for the final three claim periods covering March 14 to June 5, 2021.
December 1, 2020 by John F. Oakey, Rosa Maria Iuliano
Application of the GST/HST in Relation to E-commerce Supplies
The Government proposes a number of changes to the GST/HST system to ensure that the GST/HST applies in a fair and effective manner to the growing digital economy. These changes relate to:
December 1, 2020 by John F. Oakey, Rosa Maria Iuliano
The Government proposes to formally extend the CEWS and CERS to periods 11 to 13, which will be as follows:
May 19, 2020 by John F. Oakey
The wage subsidy is the most lucrative program offered by the federal government with wide appeal ranging from small to large businesses. The proposed wage subsidy program was originally introduced on April 1, 2020. It received a few modifications a week later with even further amendments as it passed through the House as Bill C-14 on April 11, 2020.
April 27, 2020 by John F. Oakey
Today is application day for the Canada Emergency Wage Subsidy (CEWS), and in certain circumstances, you can get up to 100 per cent subsidy of your payroll costs.
March 14, 2018 by Martha MacRae, Todd King
From a taxation perspective, the period from July 2017 to February 2018 has been one of the most tumultuous in recent history for Canadian private company owners. For those who also have the privilege of being U.S. citizens or resident aliens, things have gotten downright ludicrous. In a rush to pass into law the most sweeping tax reform in a generation, U.S. lawmakers have stuck U.S. citizens resident in Canada with retroactive, double taxation, the elimination of much of the tax deferral previously available in their companies, a looming April 17th payment deadline and virtually no rules or regulations to guide them through the chaos.
February 27, 2018 by John F. Oakey
OTTAWA, ON – After months of public consultation, speculation and concern, the rules regarding Passive Investment Income have finally been unveiled. In today’s 2018 Federal Budget release the government announced that passive investment income over a certain limit will now reduce a Canadian-controlled private corporation’s (CCPC) small business deduction.
The Honourable Bill Morneau, Minister of Finance, today tabled his third budget – “Equality + Growth: A Strong Middle Class” – which supports the Government’s people centered approach.
The highly anticipated budget released draft legislation related to passive income – the topic that has been on the minds of business owners, investors, and advisors since the July 18, 2017 Finance release which first introduced the subject. The budget does not propose changes to tax rates at the business or personal level. The budget focused on five key spending areas – growth, progress, reconciliation, advancement and equality.
From changes to passive investment income (that weren’t quite what was expected) to an absence of response to U.S. tax reform, here are some highlights from Budget 2018.
June 29, 2017 by John F. Oakey
Finance Minister Bill Morneau announced on March 22, 2017 that the federal government would simplify the existing caregiver credit, the infirm dependent credit and the family caregiver tax credit by consolidating the three credits into a new Canada Caregiver Credit.
October 11, 2016 by Julie Chrétien, Dan Gauthier
Fraud – it’s everyone’s business. That dreaded F word is a prevalent crime we can’t afford to ignore. With one in every five businesses victimized in the past year, fraud has become a big threat and a serious ongoing challenge for Canada’s economy.
The Honourable Jim Flaherty, Minister of Finance, today tabled Canada’s Economic Action Plan 2014, a budget which confirms that the Government is on track to return to balanced budgets in 2015, with new measures that will create jobs and opportunities in an uncertain global economy and no new taxes on Canadian families or businesses.
The Honourable Jim Flaherty, Minister of Finance, today tabled Canada’s Economic Action Plan 2013, a budget focused on balancing the budget during this Parliament. This budget introduces skills training initiatives, a federal infrastructure plan and new investments to support manufacturing and innovation in Canada.