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What is it? In a nutshell, the Canadian federal government plan to continue the wage and rent subsidies for the tourism and hospitality industry with updated subsidy rates Who qualifies? The subsidy would be available only to organizations in selected sectors of the tourism and hospitality industry. The subsidy helps businesses deeply affected by the […]

Today, the House of Commons reconvenes after nearly five months. Normally, there would’ve been a fall economic update. Last year, Finance Minister Chrystia Freeland released the fall economic statement on November 30th. We do not yet know when Minister Freeland will release this year’s fall economic statement. Still, with many campaign promises to implement, we

Each year, certain personal income tax and benefit amounts are indexed to inflation using the Consumer Price Index (CPI) data as reported by Statistics Canada.  Because of the higher inflation this year, some amounts indexed to inflation are a lot higher. Here are some of the highlights for 2022:   2022 2021 Basic personal amount

Canadian resident individuals, corporations, and certain trusts have to file a unique form called Form T1135 if, at any time during the year, they owned foreign property costing more than $100,000. There are significant penalties for failure to file Form T1135 or for making a false statement or omission. The maximum penalty could be anywhere

To help businesses emerge out of the pandemic, the government introduced the new Canada Recovery Hiring Program (CRHP) to provide businesses with a subsidy of up to 50% on the incremental remuneration paid to eligible employees between June 6, 2021 and November 20, 2021. The subsidy was determined by the following formula: A x (B-C)

What is it? In a nutshell, the Canadian federal government plan to continue the wage and rent subsidies for hard-hit businesses that do not qualify for the Tourism and Hospitality Recovery Program and that have been deeply affected by the pandemic. This generally means a prolonged revenue decline of at least 50%. Who qualifies? All

The federal election is only a few days away. The below is a summary of all the tax and housing market promises by Canada’s major political parties. Click the below image for more details.

The below highlights some of the tax measures proposed by the Liberal Party of Canada for the 2021 Canadian federal election that will be held on September 20, 2021. The purpose of the below article is to summarize and outline the different tax measures published by the political parties in their election platforms in an impartial manner.

The below highlights some of the tax measures proposed by the New Democratic Party of Canada for the 2021 Canadian federal election that will be held on September 20, 2021. The purpose of the below article is to summarize and outline the different tax measures published by the political parties in their election platforms in an impartial

The below highlights some of the tax measures proposed by the People’s Party of Canada for the 2021 Canadian federal election that will be held on September 20, 2021. The purpose of the below article is to summarize and outline the different tax measures published by the political parties in their election platforms in an impartial manner.