2019 Federal Budget Highlights

2019 Federal Budget Highlights

  Overview On March 19th 2019, Finance Minister Bill Morneau delivered his 4th Federal Budget since the Trudeau Liberal Government took office in 2015. After significant corporate and personal tax changes made over the past three years, Budget 2019 was light on tax changes but big on spending.  Budget 2019 projects a deficit of $14.9 […]

Five Reasons to Always File a Personal Tax Return

Five Reasons to Always File a Personal Tax Return

As a Canadian resident, you’re only required to file a personal tax return if: You owe taxes (i.e., before applying credits for source deductions and installments). You’ve earned taxable capital gain or disposes of capital property in the year. You have a balance in your Home Buyer’s Plan or Lifelong Learning Plan at the end […]

BC Employer Health Tax

BC Employer Health Tax Summary

  BC’s new Employer Health Tax (“Health Tax”) is in effect now – as of January 1, 2019 For 2019 – the BC government is collecting BOTH the new Health Tax and 50% of the MSP premiums (it collected 50% of the premiums for 2018). MSP is completely phased out at the end of 2019. […]

Driving and Taxes

As the prices at the pump continue to increase, it’s important that you understand the tax deductions that you or your business may be entitled to claim for automobile expenses. This blog post summarizes some of the considerations for employees and self-employed or incorporated individuals. Employees As an employee, in certain situations you may be […]

New Enhanced Tax Depreciation Write-Offs

The Department of Finance announced new rules in its 2018 Fall Economic Update on November 21st 2018 to temporarily allow Canadian businesses to immediately expense for tax purposes 100% of the cost of certain newly acquired machinery and equipment and certain specified clean energy equipment if acquired after November 20th 2018 and before 2028. These […]

What South Dakota v. Wayfair Means for Canadian Companies

Are you a Canadian company selling goods to US customers? If so, the Wayfair decision might drastically alter your US Sales Tax Exposure. The clear implication of the Wayfair decision is that there will likely be a mass rush of states adopting new sales tax laws that will mirror the far lower threshold of “economic nexus” that has been implemented by South Dakota.

Recent Changes to the QST Registration Rules for Non-Resident Suppliers of Digital Supplies

What are the new Quebec Sales Tax (QST) Rules? On March 27, 2018, the Quebec budget introduced new Quebec Sales Tax (“QST”) rules expanding the threshold of QST registrant requirements with focus on non-resident suppliers in the e-commerce sector.  The budget addressed the lack of specific rules for online sale transactions which previously led to […]

2018 Federal Budget Insights

2018 Federal Budget Insights

The Federal Government’s 2018 Budget touts Canada’s strong economic growth over the past two years, including real GDP growth of 3.2 per cent since the second quarter of 2016, an unemployment rate of 5.9 per cent, and significant improvements in average weekly earnings, consumer confidence, and household consumption.