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 ...
How the Next Generation Can Ensure a Smooth Leadership Transition
Succession planning is an essential part of a business’s lifespan – one that’s often overlooked. A study by the Family Business Institute found that only around 30% of family businesses ...
Zeifmans recognized as a Top 10 Accounting Services Provider in Canada!
We are pleased to announce that Zeifmans LLP was featured in Business Management Review Magazine’s 2023 Top 10 Accounting Services Providers in Canada! This acknowledgement recognizes Zeifmans’ track record of ...
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 ...
Thinking about income splitting to achieve your investment goals? Act fast, the minimum interest rate will double on July 1
As the CRA prepares to double its prescribed interest rate on July 1, now is the time to take advantage of an income-splitting exception to the attribution rules. When handled ...
Aligning leadership priorities for a smooth transition of power in your family business
Building a successful family business takes time, strategy and sacrifice. Entrepreneurs face a multitude of challenges while growing a company, but one of the greatest is often succession planning. ...
2022 federal budget focuses on housing market; spending lower than expected
Finance Minister Chrystia Freeland presented the 2022 Federal Budget to a divided House of Commons on April 7, 2022. The Liberal and NDP parties have recently agreed to a confidence ...