March 24, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
2023 Nova Scotia budget tax highlights
On March 23, the Nova Scotia government released its 2023-24 budget. The following are highlights of the key tax measures.
Recent Publications
Recent Publications
March 24, 2023 by John F. Oakey, Brenda Scott, Rock Lapalme
2023 Ontario budget tax highlights
On March 23, the Ontario government released its 2023 budget. The following are highlights of the key tax measures.
March 23, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
2023 Newfoundland and Labrador budget tax highlights
On March 23, the Newfoundland and Labrador government released its 2023 budget. The following are highlights of the key tax measures.
March 23, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
2023 Saskatchewan budget tax highlights
On March 22, the Saskatchewan government released its 2023 budget. The following are highlights of the key tax measures.
March 22, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
Federal and provincial budget highlights
Baker Tilly Canada is pleased to continue our tradition of providing valuable commentary and analysis of federal and provincial budgets. Click on any flag below to see corresponding 2023 budget highlights – from changes to personal and corporate tax measures to indirect tax updates and more. Speak to your Baker Tilly Canada advisor to understand how these policies could affect your business.
March 22, 2023 by John F. Oakey, Brenda Scott, Rock Lapalme
2023 New Brunswick budget tax highlights
On March 21, the New Brunswick government released its 2023 budget.
March 22, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
Québec Budget 2023-2024 tax highlights
On March 21, the Québec government released its 2023-2024 budget. The following are highlights of the key tax measures.
March 15, 2023 by Bal Katlai, Rock Lapalme
Federal Court of Appeal reaffirms application of anti‑avoidance rule in Foix decision
In Foix v. The King, 2023 FCA 38, the Federal Court of Appeal (FCA) ruled that a distribution of funds following a hybrid sale was subject to the application of subsection 84(2) of the Income Tax Act (ITA), affirming the Tax Court of Canada (TCC) ruling, Foix v. The Queen, 2021 TCC 52.
March 14, 2023 by John F. Oakey
FBAR penalty – A welcomed decision by the Supreme Court
On Feb. 28, 2023, the U.S. Supreme Court ruled in the case of Bittner v. United States1 that the non‑willful penalty for failure to file the Foreign Bank and Financial Accounts (FBAR) report was on a per report basis, not per account basis.
March 8, 2023 by John F. Oakey, Brenda Scott, Rock Lapalme
2023 Manitoba budget tax highlights
On March 7, the Manitoba government released its 2023 budget. The following are highlights of the key tax measures.
March 1, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
2023 Alberta budget tax highlights
On Feb. 28, 2023, the Alberta government released its 2023 budget. The following are highlights of the key tax measures.
March 1, 2023 by John F. Oakey, Rock Lapalme, Brenda Scott
2023 British Columbia budget tax highlights
On Feb. 28, the B.C. government released its 2023 budget. The following are highlights of the key tax measures.
February 1, 2023 by Ben Berci
UHTA: Corporations, partnerships and trustees beware!
The Underused Housing Tax Act (UHTA) is law1, and the first filing date is only months away.
January 20, 2023 by Bud Arnold
Intergenerational farm rollovers
Family business succession planning involves many components, including family dynamics, leadership training, financial planning, management transition, legal agreements and – you guessed it – taxes.
2023 tax fact sheets
Want to better understand Canadian tax rates for 2023? Then you’re in the right place. We’ve put together the following fact sheets to provide a convenient comparison of relevant tax rates for every Canadian province and territory.
2023 tax deadline calendar
With so many Canadian and U.S. tax deadlines spread throughout the year, everyone could use an occasional reminder. Our 2023 tax deadline calendar provides a convenient month‑by‑month summary of key dates that could apply to you. You might even notice a few obligations that slipped your mind. If you don’t like getting caught by surprise, you’ll love our tax deadline calendar.
January 12, 2023 by John F. Oakey, Rock Lapalme
Musts for trusts – New reporting requirements
New trust reporting requirements are coming for calendar year 2023. But how did we get to this point of needing to disclose additional information? And what should trust administrators be doing now?
December 20, 2022 by Kale Donald
Rights or things: Farm inventory on a cash basis
When a farmer who operates a farm through a proprietorship – that reports income for tax purposes under the cash method – passes away, there are a number of options available for how the farm inventory left behind will be treated for tax purposes. It is very important that executors of the estate understand the options available to them. This alert addresses tax planning options that are often overlooked when dealing with the estate of a farmer.
December 13, 2022 by Shelley Smith
Borders without (tax) boundaries – Navigating U.S. returns in a cross‑border setting
United States citizens and Green Card holders are both considered U.S. persons, regardless of where they live. U.S. persons living outside the U.S. (such as in Canada) must continue to file U.S. tax returns annually, even if they have no income from the United States. For such individuals, there are mechanisms to avoid or reduce U.S. tax exposure and, in many cases, end up owing no U.S. tax at all. Still, failure to file returns, related forms and certain foreign information reporting can result in significant penalties.
November 30, 2022 by Mandeep Gaheer
Addressing the proposed EIFEL rules
On Feb. 4, 2022, the Department of Finance (Finance) introduced draft legislation relating to Excessive Interest and Financing Expenses Limitation (EIFEL) rules, which implement the recommendations in Action 4 of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) project.