Toronto city council debates vacant home tax hike amid budget and housing crunch
Mayor Olivia Chow says raising the tax from 1% to 3% will encourage the transformation of vacant homes into rental units
Top Stories in Tax
Proposed AMT could discourage large philanthropic gifts
Only half of the donation tax credit can be applied against the AMT, down from 100%
- By: Rudy Mezzetta
- October 3, 2023 October 2, 2023
- 09:00
The cost of TFSA contributions for non-residents
Case study explains the consequences
- By: Curtis Davis
- September 27, 2023 October 5, 2023
- 17:27
Help clients prepare for a serious illness
Clients may be more open to discussing serious illness planning than death planning
- By: Melissa Shin
- September 26, 2023 September 26, 2023
- 16:29
CRA offers no relief on stiff penalties for late-filing UHT returns
Tax agency releases underused housing tax self-assessment tool
- By: Rudy Mezzetta
- September 25, 2023 September 25, 2023
- 13:30
Alberta downplaying pension plan proposal risk, experts say
Broad estimates and generous assumptions may mean the APP is less viable than it seems
- By: Rudy Mezzetta
- September 22, 2023 September 22, 2023
- 16:28
Lawyers temporarily exempted from CRA’s mandatory disclosure requirements
The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms
- By: Michael McKiernan
- September 15, 2023 September 15, 2023
- 12:37
Ottawa to remove GST on new rental housing, extends CEBA loan deadline
The federal government also is calling on grocers to stabilize prices
- By: Dylan Robertson, The Canadian Press
- September 15, 2023 September 15, 2023
- 08:41
Does the underused housing tax apply to 24 Sussex Drive?
The Canada Revenue Agency's extended deadline to file a UHT return and pay any tax is approaching
- By: Rudy Mezzetta
- September 12, 2023 September 12, 2023
- 10:00
Updated tax-avoidance proposals include new penalty
Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule
- By: Michael McKiernan
- September 12, 2023 September 11, 2023
- 06:00
CRA announces prescribed rate for Q4
Interest rate Canadians must pay on overdue tax will remain 9%
- By: Rudy Mezzetta
- September 11, 2023 September 12, 2023
- 10:50
CRA offers minor relief on reportable transactions
The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20
- By: Michael McKiernan
- September 11, 2023 September 11, 2023
- 10:26
New alternative minimum tax regime to raise $2.6B: PBO
Canadians making above $300,000 to contribute 98% of total AMT
- By: Rudy Mezzetta
- September 8, 2023 September 8, 2023
- 16:13
IRS plans crackdown on 1,600 millionaires to collect back taxes
Artificial intelligence is playing a big role in identifying wealthy tax dodgers
- By: Fatima Hussein, The Associated Press
- September 8, 2023 September 8, 2023
- 11:56
Help clients address an underfunded pension
Don’t let outdated pension rules threaten your client’s retirement plans
- By: Lea Koiv and William C. Kennedy
- September 7, 2023 September 7, 2023
- 18:27
Review finds at least 120 CRA employees claimed Covid benefits while employed
The CRA said in July that it had let 20 employees go as a result of its CERB investigation
- By: The Canadian Press
- September 1, 2023 September 1, 2023
- 12:13
Do executors have to accept the role?
What to know before administering an estate
- By: Rudy Mezzetta
- August 18, 2023 August 18, 2023
- 15:01
CRA releases new form for reporting beneficial ownership of trusts
Trustees must use Schedule 15 to report names, addresses and tax information numbers for beneficiaries
- By: Rudy Mezzetta
- June 30, 2023 June 30, 2023
- 13:18
Feds release draft changes to pension rules for “unlocatable” members
Draft rules are intended to help administrators match beneficiaries with unclaimed pension benefits
- By: Rudy Mezzetta
- June 27, 2023 June 27, 2023
- 17:13
Canadians still underusing TFSAs
Accountholders' unused TFSA contribution room exceeded the market value of their plans at almost all income levels
- By: Rudy Mezzetta
- July 20, 2023 July 20, 2023
- 16:38
Understanding the underused housing tax
If your client is an affected owner, they must file a UHT return by Oct. 31 to avoid penalties
- By: Frank Di Pietro
- May 15, 2023 June 25, 2023
- 09:39
Understanding the CPP death benefit
The amount has been falling in real terms
- By: Lea Koiv
- May 12, 2023 June 30, 2023
- 10:59