While the final school bell of the year is music to every kid’s ear, for most parents the end of the school year means it’s time to figure out their summer childcare situation. Day camps, sports schools, overnight camps and in-home care are all great options for ensuring your child is taken care of while […]
In the event of a disaster, both natural or man-made, issues with your business’s taxes are likely the last thing on your mind; however, there will eventually come a time when you’ll need to figure out if an emergency impacts your ability to file and/or pay your taxes on time, and what happens if you […]
Canadian resident taxpayers who own shares of non-resident corporations are generally required to file a T1134 information return if the non-resident corporation is a “foreign affiliate” of the taxpayer. A one-time exemption from filing may be available for the year in which an individual immigrates to Canada. New Form, Filing Deadline, and Disclosures The Canada […]
On April 7, 2022, the Honourable Chrystia Freeland tabled her second budget as federal Minister of Finance and Deputy Prime Minister. While previous years’ tax-and-spend budgets have been peppered with some more constraint and long-term plans for containing Canada’s growing deficit, this year’s budget takes aim at several of the Liberal campaign promises and was […]
While we can all agree it’s great to pay less tax, it goes without saying that you need to make sure any methods of tax reduction you utilize follow the law. That’s why it’s important to know the difference between tax planning, avoidance and evasion when you’re looking for ways to keep your taxes down. […]
Is your business planning any purchases or leases of tangible assets in BC? If there will be BC PST charged, consider ordering, being invoiced and paying for them by the end of this month, March 31, to recover the PST if they are eligible assets. Purchases and leases for most tangible assets qualify as long […]
Our 2021 Personal Tax Return Checklist is designed to help you make this process as easy and efficient as possible. It also assists us in ensuring we have information that is as complete and accurate as possible to assure your taxes are minimized and correctly reported. If you have any questions, please contact your DMCL Advisor.
We’ve put together the below calendar to help you keep track of the 2022 tax deadlines and be prepared well in advance of any due dates. Included are all provincial, federal and US tax deadlines. For more information on federal and provincial COVID-19 economic relief programs, see Notes 2 and 3 below. Deadline Action January […]
Attention trustees, As we noted in previous posts, the CRA has been asking trustees to provide their details, as well as details on other trustees, the settlor, the protector (if any) and beneficiaries, starting with the 2021 T3 income tax return due March 31, 2022. As a trustee, obtaining the information the CRA is requesting […]
Download the 2022 British Columbia Tax Rate Cards for individuals and corporations. Income tax brackets, capital gains, non-eligible and eligible dividend percentages included.