Tax – Advisor's Edge https://phoenix.advisor.ca The best news source for Canadian financial advisors. Investments, financial markets, insurance, practice management, tax and estate planning Wed, 11 Oct 2023 19:14:15 +0000 en-CA hourly 1 https://wordpress.org/?v=5.9.3 https://phoenix.advisor.ca/wp-content/uploads/sites/5/2018/05/cropped-advisor-ico-32x32.png Tax – Advisor's Edge https://phoenix.advisor.ca 32 32 Toronto city council debates vacant home tax hike amid budget and housing crunch https://phoenix.advisor.ca/tax/tax-news/toronto-city-council-debates-vacant-home-tax-hike-amid-budget-and-housing-crunch/ Wed, 11 Oct 2023 19:14:15 +0000 https://www.advisor.ca/?p=231645 Mayor Olivia Chow says raising the tax from 1% to 3% will encourage the transformation of vacant homes into rental units

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New alternative minimum tax regime to raise $2.6B: PBO https://phoenix.advisor.ca/tax/tax-news/new-alternative-minimum-tax-regime-to-raise-2-6b-pbo/ Fri, 08 Sep 2023 20:13:09 +0000 https://www.advisor.ca/?p=230578 Canadians making above $300,000 to contribute 98% of total AMT

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Business Council warns about debt costs as federal cabinet meets https://phoenix.advisor.ca/news/economic/business-council-warns-about-debt-costs-as-federal-cabinet-meets/ Mon, 21 Aug 2023 18:50:02 +0000 https://www.advisor.ca/?p=229888 Lobby group pointed to U.S. downgrade as a warning

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CRA releases death-related FHSA forms https://phoenix.advisor.ca/tax/tax-news/cra-releases-death-related-fhsa-forms/ Thu, 10 Aug 2023 20:16:22 +0000 https://www.advisor.ca/?p=229603 The agency will also be releasing a consolidated T4 slip for FHSA account holders

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Feds release draft legislation on alternative minimum tax, intergenerational business transfers https://phoenix.advisor.ca/tax/tax-news/feds-release-draft-legislation-on-alternative-minimum-tax-intergenerational-business-transfers/ Fri, 04 Aug 2023 21:10:59 +0000 https://www.advisor.ca/?p=229508 Proposals from the 2023 budget are out for consultation until Sept. 8

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CRA releases forms to allow for transfers out of FHSAs https://phoenix.advisor.ca/news/industry-news/cra-releases-forms-to-allow-for-transfers-out-of-fhsas/ Fri, 21 Jul 2023 17:22:13 +0000 https://www.advisor.ca/?p=228961 The industry is still waiting for certain forms needed to administer the new plans

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FHSA questions abound as industry rolls out account https://phoenix.advisor.ca/tax/tax-news/fhsa-questions-abound-as-industry-rolls-out-account/ Wed, 31 May 2023 19:20:42 +0000 https://www.advisor.ca/?p=226068 The issue of what happens when an FHSA holder dies may need to be dealt with sooner rather than later, for example

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Americans should be exempt from Canada’s foreign housing tax, members of Congress say https://phoenix.advisor.ca/news/industry-news/americans-should-be-exempt-from-canadas-foreign-housing-tax-members-of-congress-say/ Fri, 26 May 2023 19:54:34 +0000 https://www.advisor.ca/?p=226006 UHT an “insulting” attack on Americans with second homes in Canada: Niagara politician

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Prince Edward Island government forecasts $98 million deficit in annual budget https://phoenix.advisor.ca/news/economic/prince-edward-island-government-forecasts-98-million-deficit-in-annual-budget/ Fri, 26 May 2023 15:19:35 +0000 https://www.advisor.ca/?p=225947 Housing is one of the provincial government’s three priorities

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Understanding the underused housing tax https://phoenix.advisor.ca/tax/tax-strategies/understanding-the-underused-housing-tax/ Mon, 15 May 2023 13:39:49 +0000 https://www.advisor.ca/?p=225549 If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties

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