New Trust Reporting Rules
Bare trusts and in-trust (ITF) accounts may need to file a T3 income tax return.
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January 31, 2024
Newsletter – Financial Relief For Canadians
This newsletter has been prepared to provide an overview of the tax measures and assistance available to businesses and families in the midst of the Covid-19 pandemic. A copy of this newsletter can be downloaded here. It is a concise summary of the measures announced up to and included Wednesday April 9, 2020. Discussed in the newsletter: Filing deadline and…
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April 9, 2020
The 75% Canada Emergency Wage Subsidy and 10% Temporary Wage Subsidy
The Government of Canada has announced the Canada Emergency Wage Subsidy (CEWS) that will provide a subsidy of up to 75% of wages paid to a maximum benefit of $847 per week per employee.
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April 4, 2020
Q4 2014 Tax Tips & Traps Newsletter
The 2014 4rd quarter edition of tax Tips and Traps is out! In this edition: Tax ticklers – Quick points to consider Small Business Job Credit CRA Liaison Office Initiative Principal Residence – Partial conversion to an office Tax Payments – Online Collections Options – When you owe the CRA and can’t pay Estate Planning – Digital assets Registered Charities…
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November 12, 2014
U.S. Citizens – Tax Filing Obligations
Many American citizens and other “U.S. persons” in Canada are unaware and even surprised to find they have to file income tax returns, report their bank accounts and make other disclosures to the IRS in addition to the Canadian filings. The United States requires that all citizens file a U.S. income tax return and report worldwide income. The net broadens…
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September 30, 2014
Foreign Property Reporting Requirements
Resting squarely at the top of the second page of the T1 personal income tax return, sits a question. On the 2013 tax return the question read: Did you own or hold foreign property at any time in 2013 with a total cost of more than CAN$100,000? See “Foreign income” section in the guide for more information. If yes, complete…
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August 22, 2014