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Services de conseils fiscaux
Changes to the Taxation of Restrictive Covenants
Recent legislative changes contained in Bill C-48, which received Royal Assent on June 26, 2013, provide that any amount received or receivable by a taxpayer in respect of a restrictive covenant will be treated as ordinary income for income tax purposes unless specific exceptions apply. These legislative changes are retroactive to October 7, 2003.
Aaron Wright 5 déc. 2013
Services de conseils fiscaux
2013 Year-End Tax Planner: Looking Back to 2013 and Forward to 2014
It’s the most wonderful time of the year! That’s right, time to start your year-end tax planning so any strategies that need to be implemented before key dates in order to be effective can be successfully launched.
29 nov. 2013
Services de conseils fiscaux
Ontario Increases Non-Eligible Dividend Tax Rate
On November 7, 2013, Ontario’s Finance Minister announced proposed measures which if enacted will ultimately increase the tax on non-eligible dividends. This will be achieved by maintaining the non-eligible dividend tax credit rate of 4.5% and then calculating the Ontario surtax on higher income earners before the application of dividend tax credits (currently, the surtax is applied after deducting certain non-refundable credits including dividend tax credits).
15 nov. 2013
Services de conseils fiscaux
How Corporate Shareholdings Can Affect EI Benefits
Most Canadian employees have at least a general understanding of employment insurance (EI) benefits. Employees pay into employment insurance with each paycheque and can claim EI benefits if they lose their jobs. Most are aware also that any employment or self-employment income earned while collecting EI benefits can reduce or even eliminate the benefits.
8 oct. 2013
Transfrontalière et internationale Services de conseils fiscaux
New Foreign Property Reporting Requirements
Some recent changes to the foreign property reporting requirements for Canadian taxpayers can increase the reporting obligations on those who invest actively outside Canada.
19 sept. 2013
Services de conseils fiscaux
Tax Savings Opportunity: Lock In Family Loans by September 30
On October 1, 2013, the Canada Revenue Agency’s prescribed rate of interest will increase for the first time in over four years, from 1% to 2%. The current low interest rate of 1% offers significant tax savings opportunities for income-splitting loan arrangements with family members.
11 sept. 2013
Services de conseils fiscaux
Defer Old Age Security to Avoid Clawback
If you are still earning substantial income and are either approaching 65 or have been collecting Old Age Security (OAS) for fewer than six months, a change in the law may be of interest to you.
11 sept. 2013
Transfrontalière et internationale Services de conseils fiscaux
U.S. Transfer Certificates: Unexpected Delays in Distributing Canadian Estates
Though much has been written in connection with the U.S. estate and gift tax regime and the varying effects on Canadians, the requirement to obtain transfer certificates from the Internal Revenue Service (IRS) is often overlooked or unanticipated.
23 août 2013
Transfrontalière et internationale Services de conseils fiscaux
U.S. Real Estate Issues
The U.S. real estate recovery is underway and approximately 40% of recent existing home sales have occurred in the southern United States.[1] Many Canadians have played a role in this recovery by purchasing U.S. property, either for personal use, rental use, or both. For these Canadians, there are several U.S. tax matters to consider, including obtaining an Individual Taxpayer Identification Number (ITIN), properly filing required U.S. tax returns, and applying for a withholding certificate.
23 août 2013
Services de conseils fiscaux
Income Tax Filings: On Time or In Time
Canadian taxpayers will face negative consequences if their income tax returns are not filed on time by the due date. In addition, they face other, different negative consequences when returns are filed after the due date but not in time to obtain a refund. This article discusses those consequences.
23 août 2013
Services de conseils fiscaux
Reduce Your Family Taxes with a Prescribed Rate Loan
Are you in a higher tax bracket than your spouse? Do you earn investment income from a non-registered account? If so, a prescribed rate loan can provide you with a method of income splitting that will reduce your taxes.
26 juill. 2013
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