The 2024 Federal Budget, presented by Finance Minister Chrystia Freeland on April 16, introduced $52.9 billion in new spending, which the government plans to offset, in part, by increasing taxes ...
Short-Term Rentals: Tax Implications for Airbnb Properties
Rental income has generated a great deal of income over the years and has opened a variety of rental locations across the globe. Rentals can also be a great investment ...
Navigating Canada’s Latest Trust Reporting Legislation Changes
The government’s new federal trust reporting rules will increase disclosure requirements, affecting a wide range of Canadian trusts. Originally, the federal government introduced significant changes to trust legislation in 2018 ...
Tax Insights: 2023 Fall Economic Statement (FES 2023)
On November 21, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland introduced the 2023 Fall Economic Statement (FES 2023) on behalf of the federal government. These measures aim ...
Ontario’s Fall Economic Outlook Promises Additional Tax Credits During Financial Uncertainty
The Ontario Fall Economic Statement 2023 forecasts a substantial increase in the deficit for the 2023-24 fiscal year of $5.6 billion. This marks a significant departure from the province’s 2023 ...
Mastering Taxes: 5 Essential Tips for Small Businesses in Canada
Small businesses are the lifeblood of the Canadian economy, employing nearly 8.5 million Canadians annually. These entrepreneurs are the driving force behind innovation and economic growth in the country. However, ...
Strategic Use of Multiple Wills in Canadian Estate Planning: Navigating Probate Fees
Creating multiple wills is a practice that has been associated with estate planning in Canada, particularly in provinces like Ontario for the last 20+ years. The primary reason people create ...
Maximizing growth: Tax considerations and key questions for business expansion or acquisition
Growing a business during a turbulent economy comes with many complicated decisions. Whether you’re expanding an existing company or buying a new one, there are a variety of tax considerations ...
2023 Budget Tightens Tax rules while Investing in Clean Tech
The 2023 Federal Budget, presented by Finance Minister Chrystia Freeland on March 28, forecasts a $43 billion dollar deficit, with both spending cuts and tax increases. High income individuals may ...