Principal Residence Claims by Trusts After 2016

The Department of Finance announced significant changes related to the claiming of the principal residence exemption by trusts on October 3rd 2016. The purpose of this memo is to discuss these changes and to alert the reader as to what can be done to mitigate the effects of these changes on the future claim of […]

BC PST Legislation Introduced

The B.C. government introduced legislation on May 14, 2012, to meet government’s commitment to return to the Provincial Sales Tax on April 1, 2013. As committed, the PST is being re-implemented with all permanent exemptions. The government also introduced common-sense improvements that will make administration of the sales tax easier for businesses. Consumers will pay […]

TRANSITION BACK TO BC PST – CONSIDERATIONS FOR BUILDERS

On April 1, 2013, British Columbia will eliminate the 12% harmonized sales tax (HST) and re-implement the 5% goods and services tax (GST) and 7% BC provincial sales tax (PST).  Builders need to keep in mind the following issues with respect to the transition: 1. Sales of new homes prior to April 1, 2013 a)       […]

Changes to the Canadian Pension Plan (CPP) Contribution Rules

On January 1, 2012, changes to the rules for deducting CPP contributions will come into effect.  Under the new rules employers may have to deduct CPP contributions from the pensionable earnings paid to an employee who is 60 to 70 years of age, even if the employee is receiving a CPP or Quebec Pension Plan […]