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People’s Party of Canada: 2021 Election Tax & Real Estate Measures

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.

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Liberals Kill Bill C-208 and Brought It Back to Life (Temporarily)

Imagine yourself as an owner of Stephanie’s Electric, a company specializing in electrician services. Stephanie’s Electric started off small but is now an established company in the community. From the beginning, you taught your children the ways of Stephanie’s Electric, and they have managed to become really good at it. You’re now ready for retirement and to pass the business along to them. However, you weigh your options and realize you will pay less

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The Top 3 Things You Need to Know about Biden’s Proposals if You Do Business in the U.S.

U.S. President Joe Biden released his 2022 budget submission to Congress. The budget contains several tax proposals aimed at increasing taxes and compliance. The budget would still need to be voted on in Congress in order to be enacted. However, given the Democrat control of both the Senate and the House, there is a strong

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Case Study: Why it may be better to deduct COVID repayments in 2021 instead of 2020.

Introduction There are instances when you have to repay the COVID‑19 benefits you received (i.e., CERB, CRB, CESB, etc.). You are taxed on these benefits in the year you receive them. You can deduct repayments. Before Budget 2021, you were only able to deduct repayments in the year you repay them. This resulted in people

Case Study: Why it may be better to deduct COVID repayments in 2021 instead of 2020. Read More »

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