Capital Gains Chaos: Extensions & Unprecedented Delays to Tax Season 2025
Stop! Don’t file a T1 or T3 tax return yet, says a March 11, 2025, news release from the CRA, if you have been impacted by the chaos of the proposed capital gains inclusion rate increase.Mark Your 2021 Educational Calendar
Now is the right time to plan your professional development opportunities and earn CE credits in 2021. Explore your options with our new interactive Calendar of Educational Events 2021 and reserve your time to get your world class financial education in place.
CERB & CERB: Definition of Income Explained
There are many definitions of income on the tax return and understanding them makes a big difference in your relationship with the CRA, as many CERB recipients have recently found out. Over 440,000 “education letters” have been sent to recipients warning of repayment requirements before the end of the year. It continues to beg the question: what exactly is the definition of “income”?
CPP-TFSA-Considerations
Last week, we discussed the pros and cons of continuing to contribute to the CPP when compared to a TFSA instead. This week, we discuss planning opportunities for taxpayers under and over age 65.
Employee Life and Health Trusts
Since 2009, the government has worked to create a new Employee Life and Health Trust to replace Health and Welfare Trusts. Last month, new rules were proposed to allow for the transition of Health and Welfare Trusts and permit for the rollover of assets, so that one set of rules can be applied to both. In addition, new “designated employee benefits” and relaxed restrictions for “Key Employees” were introduced. An overview follows:
Poll Results: Will Business Owners Make Ends Meet?
The results of our November poll were sobering; after a neck-in-neck race with opinions divided, 50.29% of professionals in the tax and financial services answered “no” when we asked if they thought their business clients would be able to make ends meet before year-end.
CE Summit Bonus: Healthy Snacks Included in Advanced T1 Update
When we say everything is included in the Virtual Advanced T1 Tax Update on January 20, we mean it! As a special bonus, when you enrol by December 31, we’re including the snacks to keep you on your game as you learn from 4 of Canada’s most esteemed tax instructors. RSVP now and you’ll also avoid paying “walk up” rates that apply after January 15.
