2021 Canada Federal Budget: Industry Highlights
Know the key takeaways and impact on major industries from the Canada Federal Budget released on April 19, 2021.
2021 Canada Federal Budget: Detailed Commentary
Understand the implications on middle-market businesses from the Canada Federal Budget released on April 19, 2021.
Customs and trade implications for 2020 year-end planning
2020 changes to customs regulations and agreements provide opportunity to review supply chain and trade compliance to mitigate risk/cost.
Employee home office expense deduction simplified
The CRA has released new guidance for claiming the employee home office expense deduction in 2020 due to COVID-19.
Massive overhaul on the horizon – Significantly expanded form T1134
Be prepared for sweeping information disclosure changes related to reporting of foreign affiliates to form T1134 coming in 2021.
Tax updates in Canada in response to COVID-19
Our tax alert summarizes the latest tax measures by federal and certain provincial government authorities amid the coronavirus pandemic.
2020-2021 Provincial & territorial budgets commentary
A summary of key business and personal tax amendments proposed by the provincial and territorial budgets released this fiscal year.
Canadian tax integration of private company income
These tables provide an illustration of how the Canadian income tax integration system works. Integration is approximate.
When deals stall: Turning transaction costs into cash flow
Many deals stalled as the pandemic began, prompting investors to look at turning transaction costs into cash flow—but beware of pitfalls.
Should you resort to mutual agreement procedure?
Canada implemented the mutual agreement procedure as an effective tool for resolving economic double taxation issues.
Federal government postpones deadlines for duties and taxes on imports
This change is on top of the announcement from the CBSA on March 19, 2020 which gave importers relief from late accounting penalties.
Restrictions on discretionary trust’s dividend allocation powers
If the word ‘discretionary’ means ‘unrestricted’ or ‘unregulated’, does that mean discretionary trusts have unfettered decision-making?
Tax opportunities in a low-interest rate environment
Lower interest rates may entice taxpayers to borrow to bridge the cash crunch, but is additional debt a good idea in these uncertain times?
COVID-19 and employees’ home office expenses
In this article originally published by the Canadian Tax Foundation, Jiani Qian examines the tax rules surrounding home office expenses.
Understanding the Canada Emergency Wage Subsidy
Can the Canada Emergency Wage Subsidy help people hold on to their jobs and keep business afloat? Our professional shares insights.
Can home office expenses be deducted during COVID-19?
Our professionals examine whether employees can deduct home office expenses and the required supporting documentation amid the pandemic.
Key tax considerations amid COVID-19 concerns
Business owners should evaluate these short, middle and long-term tax considerations to address the numerous challenges posed by COVID-19.
2020-2021 Ontario’s Action Plan commentary
The Action Plan is part of the March 2020 Economic and Fiscal Update to support Ontarians through the COVID-19 crisis.
Canada becomes third country to ratify new NAFTA agreement
With the CUSMA trade agreement changes coming into effect soon, importers should take this opportunity to review their import process.
Treatment of foreign exchange gains on refund of income tax
The Canada Revenue Agency stated that a functional currency filer’s FX gain on refund are on account of capital.