Category:Tax Letters

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income into capital gains

Tax Proposals Concerning Converting Income Into Capital Gains Dropped

Date: October 19th, 2017

Today, the government announced that it will not be moving ahead with its proposed legislation concerning converting income into capital gains. The draft legislation was ...

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Canada passive income

Further Changes to the Tax Proposals

Date: October 18th, 2017

On October 18, 2017, Finance Minister, Bill Morneau, provided some clarity to the proposed changes to the rules concerning passive income earned in a corporation.  ...

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Federal Budget 2017 tax proposals

Changes to the Tax Proposals Announced

Date: October 17th, 2017

On October 16, 2017, Finance Minister, Bill Morneau, announced a cut to the small business corporate income tax rate as well as a few minor ...

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partnerships

New GST/HST Rules Affecting Partnerships

Date: September 26th, 2017

New draft Goods and Services/Harmonized Sales Tax (GST/HST) proposals were released by the federal Department of Finance on September 8, 2017 for public consultation.  The ...

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retirement residence

The GST/HST Implications on Living Arrangements at a Retirement Residence

Date: August 8th, 2017

Everywhere you drive in the Greater Toronto Area (GTA), you cannot help but notice the number of cranes blanketing the skyline. Many of them are ...

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private corporations

Proposed Changes to Tax Planning Using Private Corporations

Date: July 19th, 2017

Yesterday, the Department of Finance released their much anticipated consultation paper Tax Planning Using Private Corporations. Because the Liberals referenced this consultation paper in their ...

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tax credit

Phasing out of Recaptured Input Tax Credits in Ontario

Date: July 5th, 2017

Since the introduction of HST in Ontario on July 1, 2010, large businesses were required to report Recaptured Input Tax Credits (“RITCs”) in respect of ...

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bad debt

How do I manage the GST/HST on a bad debt?

Date: June 28th, 2017

You’ve been generous enough to extend your customers credit, and now one of those customer’s debt has become uncollectible. Being able to recover the goods ...

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inter-corporate dividends

What has Changed with Inter-corporate Dividends

Date: June 15th, 2017

The amendments to the anti-avoidance provisions in subsection 55(2) of the Income Tax Act (Canada) that were enacted a few years ago have created some ...

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Ontario Budget 2017

Ontario Budget 2017 Tax Highlights

Date: April 27th, 2017

Today, Ontario’s Finance Minister, the Honourable Charles Sousa, tabled the province’s budget for 2017 (“Budget 2017”). This year’s budget aims to return to a balanced ...

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non-resident speculation tax

Ontario Introduces a Non-Resident Speculation Tax

Date: April 20th, 2017

This morning, Ontario Premier, Kathleen Wynne unveiled 16 measures to make housing more affordable in the Toronto area. The announcement comes after two consecutive years ...

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Federal Budget 2017 tax proposals

Federal Budget 2017 Tax Highlights

Date: March 22nd, 2017

On March 22, 2017, Finance Minister Bill Morneau tabled the second federal budget (“Budget 2017”) of the Justin Trudeau-lead Liberals. Budget 2017 focuses again on ...

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