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 ...
How will Canada’s Capital Gains Increase Affects those with Investments?
The Canadian government’s plan to increase Canada’s capital gains inclusion rate, introduced in the 2024 Federal Budget, has caused growing concern from taxpayers as many consider selling cottages and investments ...
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, ...
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 ...
Proposed legislation introduced to reform cannabis taxation in the US
On July 14, 2021, Senate Majority Leader Chuck Schumer released a discussion draft of a detailed cannabis reform bill which, if enacted, would restore the deductibility of all expenses related ...
Bid to repeal Section 280E up in smoke: How the recent ruling affects American cannabis
Regulatory support will always trail behind public acceptance and one prominent example of this is the US’s outdated Internal Revenue Code Section 280E as it relates to the cannabis industry. In a long well-publicized battle, Oakland-based Harborside Inc. (listed on the Canadian Securities Exchange and operator ...
Will stock option taxation changes hurt hiring?
Employers in Canada’s emerging industries like cannabis, psychedelics, and agritech are concerned about how upcoming changes to the taxation of stock options will impact their ability to recruit top talent. ...
Cannabis industry has high hopes for 2021
It’s no secret that the cannabis industry has faced some challenges since legalization. Though regulations are changing in favour of the industry’s growth, residue from past taboos and fumbled launches ...