In an effort to reduce Canadians’ tax burden during the holiday season, the Federal government announced on Thursday that the majority of expenses will be temporarily free from GST/HST from ...
Reducing your Tax Burden: A Guide to Interest Expense Deductions
If you’re borrowing funds to support business growth and or investment growth, you may be eligible to deduct interest on your business or property income under the Income Tax Act. ...
What does the Capital Gains Inclusion Rate Increase Look Like for You?
This year’s Federal budget marked the first increase to the Capital Gains inclusion rate since 2000, an announcement that many criticized as having significant consequences on both high income and ...
Ontario’s Fall Economic Statement Offers a Promising Financial Outlook Along with Tax Cuts and AMT Rate Decreases
Ontario’s latest Fall Economic Statement showed signs of significant financial growth, mainly due to falling interest rates and higher tax revenues. While residents are still feeling the effects of a ...
Understanding the CRA’s 2024 Trust and Reporting Updates: Implications and Context
Earlier this year, the Canada Revenue Agency (CRA) announced significant changes to trust reporting rules that introduced new filing obligations for many express trusts, including bare trusts. These new requirements ...
Navigating the Evolving Tax Landscape: Key Changes and Challenges for Businesses
This year has seen significant shifts in tax regulations, making it a particularly volatile period for businesses. Three major tax changes have surfaced in recent years: The Canada Revenue Agency ...
From Innovation to Impact: The Essential Role of an Accounting Advisor in Tech Startup Success
Tech startups are synonymous with innovation, agility, and the drive to disrupt industries. However, beneath the surface of every successful tech venture lies a foundation of strong financial management. For ...
Taking Advantage of SR&ED in the Healthcare Start-Up Space
Health care businesses of all sizes and specialties can benefit from Canada’s Scientific Research and Experimental Development (SR&ED) tax credit program, though many are deterred from applying due to the ...
Navigating Economic Shifts: Cruising at a High Altitude
In the face of shifting geopolitical dynamics, this blog dives into the Canadian and U.S. economic landscapes focusing on the current challenges including the housing supply crisis, high interest rates, ...