December 12, 2024
by
Dean Morris, Scott Dupuis
Anticipated tariffs on imports from Canada as proposed by President‑Elect Trump have caused significant uncertainty for Canadian businesses involved in cross‑border trade. This bold tariff threat may simply be a negotiating tactic by the U.S. and not materialize. Nevertheless, businesses should expect a challenging and cloudy trade environment where the threat of tariffs is ever present. Moreover, renegotiation of the United States‑Mexico‑Canada Agreement (“USMCA”) will occur during Trump’s presidency.
December 6, 2024
by
Alex Kwong CPA, CGA, Diana Cameron
On Nov. 21, 2024, the Department of Finance announced it would temporarily introduce a measure to implement a Goods and Services Tax/Harmonized Sales Tax (GST/HST) break for Canadians for the two‑month period from Dec. 14, 2024 to Feb. 15, 2025.
November 27, 2024
The government is proposing that the GST/HST on groceries and essential holiday items be fully relieved from Dec. 14, 2024 to Feb. 15, 2025. This proposal aims to provide financial assistance to all Canadians, particularly those who are struggling with rising costs of living during the holiday season.
November 7, 2024
by
Sean Grant-Young
Among its wide‑ranging tax measures and initiatives, Budget 2023 provides long‑awaited clarity on the issue of intergenerational transfers.
November 4, 2024
by
Nick Jarrett-Kerr
Every year, we encounter firms that, part of the way through the lifetime of a strategic plan, are presented out of the blue with strategic opportunities. Examples often include opportunities to merge with or acquire another firm, to recruit a team or partner, to open an office in another place, or to invest in new premises or technology.
November 4, 2024
by
Jordan Furlong
As we enter the Age of Accessible Law, a wave of new demand is coming our way—but AI will meet most of the surge. What will be left for lawyers? Just the most valuable and irreplaceable role in law.
October 24, 2024
by
Bethany Early Chieffallo
Training for a marathon is no easy task. The physical and mental process is daunting, grueling, time-consuming and rewarding all at once. It requires a high level of dedication, strategy and intention
September 5, 2024
by
Sean Grant-Young
On Aug. 12, the Department of Finance released its summer package of draft legislation and technical amendments. This proposed legislation includes substantially all outstanding measures from Budget 2024 and other previously announced amendments.
July 17, 2024
by
Sameer Noormohamed, Mark Bloch
In August 2023, the Department of Finance released its draft of the Digital Services Tax Act (DSTA) with the intent to introduce legislation aiming to tax certain large domestic (and foreign) businesses on their Canadian digital services revenue.
June 11, 2024
by
Sean Grant-Young
Taxpayers and advisors have been anxiously awaiting an update since April 16, when the Federal Budget dropped arguably the most significant (and controversial) change to tax policy in over 20 years.
May 29, 2024
by
Thomas Blonde
Many farmers have expressed concerns about the increase in the capital gains inclusion rate. While they are right to be worried about the changes proposed in the 2024 federal budget, no draft legislation has been released yet.
May 24, 2024
by
Jordan Furlong
Law firms fail to modernize because their owners won't invest present earnings to finance future growth. If your law firm can change that, then the sky's the limit.
May 24, 2024
by
Nick Jarrett-Kerr
In this article I examine the main reasons why professional firms typically are littered with uncompleted strategic projects and failed initiatives. The ten obstacles that I have identified can, of course, be addressed by better processes. In addition, I plan to set out in an ensuing article what I consider to be the four starting principles that provide both the foundations and the platform for successful strategic planning and execution.
May 24, 2024
by
Mike White
I work with as many “mid-sized” commercial law firms as I work with large regional, national or global law firms. As the industry continues its multi-decade embrace of operating scale (bigger is better, or at least more efficient!), what does this trend mean for commercial firms that do not choose to anchor their success to hiring more lawyer bodies across which to allocate their fixed costs?
May 24, 2024
by
Candace Baker
More and more, customers place importance on the values of the companies that they interact with. One 2020 survey found that 71 per cent of consumers prefer buying from companies aligned with their values, and noted that the sentiment is especially strong among younger generations.
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.
April 11, 2024
by
Diana Cameron
A recently obtained Canada Revenue Agency (CRA) internal communiqué – dated May 17, 2023 – states “effective the date of this communiqué, CRA appraisers will report Fair Market Value (FMV) as inclusive of GST/HST.” This is good news for builders, reducing appeals and objections resulting from disputes with the CRA on FMV as it relates to self‑supply of residential complexes.
April 5, 2024
by
Sean Grant-Young
On April 2, the Manitoba government released its 2024 budget. The following are highlights of the key tax measures.
April 4, 2024
If you want an overview of Canadian tax rates for 2024, you’ve come to the right place. Select from the resources below for personal and corporate tax rates for each province and territory.
April 2, 2024
by
Sean Grant-Young
On March 28, 2024, the Canada Revenue Agency (CRA) announced it would no longer require bare trusts to file a T3 Income Tax and Information Return (T3 return) – including Schedule 15 (Beneficial Ownership Information of a Trust) – for the 2023 tax year unless the CRA makes a direct request for these filings. This announcement recognizes the new reporting requirements for bare trusts have had an unintended impact on Canadians.
