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Insights

How Obamacare affects Canadians

While the majority of Canadians will not notice any impact as a result of the Affordable Health Care Act, commonly known as Obamacare, a select few may need to comply with its rules. Read on to determine if and how Obamacare affects you.

Ontario Interactive Digital Media Tax Credit: Changes and Considerations

The Ontario government announced this fall that the Ontario Interactive Digital Media Tax Credit (OIDMTC) program is under review as the program has seen a rapid increase in the number of claims in recent years, with a 40 percent annual growth rate in support claims processed.

The federal government recently introduced several tax measures designed to help Canadian families. Collins Barrow’s latest infographic provides an overview.

2014 Year-End Tax Planner: Looking Back to 2014 and Forward to 2015

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.

On July 1, 2014, a Canada/U.S. intergovernmental agreement (IA) came into effect requiring financial institutions in Canada to begin identifying “U.S. person” account holders (for example, U.S. citizens and U.S. residents) for the purposes of disclosing specific information to the U.S. Internal Revenue Service.

Obamacare in Canada

Canadian residents probably do not give much thought to Obamacare, otherwise known as the <em>Affordable Health Care Act</em> in the United States. The program will have little or no impact on most Canadians. But in some circumstances, Obamacare will extend across the border to a small percentage of individuals living in Canada.

When greener pastures call

Many farmers can leave behind a significant tax liability once they pass on. Explore these tax strategies and estate planning tips for farmers.

Nil Consideration Election – Then and Now

The nil consideration election found in section 156 of the <em>Excise Tax Act</em> (ETA), sometimes referred to as the related party election, has recently been updated with changes to be in effect January 1, 2015.

The Mismatch: More Inequity from the New Trust and Estate Rules

In our September 5, 2014, <em>Tax Alert</em> edition, we illustrated the lack of fairness in the recently proposed amendments to the taxation of trusts and estates with respect to disabled Canadians.

Tax Changes for Testamentary Trusts

On August 29, 2014, the Department of Finance released draft legislation to implement measures introduced in the 2014 federal budget, which is expected to be enacted by the end of the year.

Alternative Business Structures: Change on the Horizon for Canadian Law Firms

There is little doubt that the traditional law firm structure is under fire in Canada. Many of Canada’s largest firms are struggling under the weight of out-dated business models and changing customer demands.

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