Canada caregiver amount
Thomson Reuters Blog
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9M ago
The Canada caregiver amount is an important non-refundable tax credit that helps caregivers to ease the financial burden of taking care of loved ones ..read more
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New trust reporting requirements for T3 returns
Thomson Reuters Blog
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11M ago
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Federal Fall Economic Statement 2023
Thomson Reuters Blog
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1y ago
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Residency in Canada
Thomson Reuters Blog
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1y ago
The Income Tax Act (ITA) does not give a specific definition for the term “resident ..read more
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Upcoming 2024 Tax Changes
Thomson Reuters Blog
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1y ago
Budget 2023 announced certain upcoming changes for the 2024 tax year. Let’s take a deep dive into them ..read more
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Upcoming tax changes for 2023
Thomson Reuters Blog
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1y ago
In this article, we will see some of the upcoming tax changes announced so far for the 2023 tax year ..read more
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Tax-Free First Home Savings Account (FHSA)
Thomson Reuters Blog
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1y ago
A new registered account has been created by the federal government to help individuals save in a tax-efficient manner for the down payment of the purchase of their first home. Let’s take a deep dive into this measure ..read more
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Immediate expensing of depreciable properties - Part 1
Thomson Reuters Blog
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2y ago
The federal government announced in the 2021 budget a new measure to allow for immediate expensing of certain depreciable assets. In this first instalment, we will go into detail on the rules ..read more
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Non-Arm’s Length Sales of Shares
Thomson Reuters Blog
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2y ago
In the previous instalment of the blog, we spoke about estate freeze techniques. Within that instalment, we mentioned about the potential negative effects of section 84.1 of the ITA when performing an estate freeze. How does section 84.1 potentially penalize a taxpayer? What are the technical rules? This article will explain ..read more
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Foreign Income Sourcing: Keys to Successful Foreign Tax Credit Calculation
Thomson Reuters Blog
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2y ago
With the advent of technology, an increasing number of taxpayers are diversifying their sources of income. It has never been easier to invest in foreign assets such as stocks or real estate. The income from those assets is, of course, taxable in Canada. In this article, we will see how to properly source this income, essential to the foreign tax credit (FTC) calculation, and how to calculate the FTC ..read more
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