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 […]
T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates
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 […]
Go green, save green: 5 clean tax incentives to save your business money
With Earth Day (April 22) around the corner and gas prices at painful highs, we wouldn’t be surprised to hear you’re looking at ways to help your business join the clean economy. The good news is there’s never been more clean tax incentives available to help green your business—and save you a few bucks in […]
2022 Federal Budget Highlights
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 […]
Ask the Expert… What’s the difference between tax planning, avoidance and evasion?
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. […]
BC PST Rebate Reminder (March 31, 2022)
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 […]
2022 Tax Deadlines Calendar
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 […]
Updates on the proposed expanded trust reporting rules
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 […]
Year-End Planning—it’s not too late!
December 31 is fast approaching. If you haven’t already began to think about your tax planning strategies, there’s still time to take advantage of the opportunities before the year-end.
2021 Year-End Planning for Mining and Resource Companies
As 2021 comes to an end, below are a few reminders and things to note in your tax planning.
