Tax Alerts
Prescribed interest rates for 2025
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2025, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2025, as well as the rates that will apply for the purpo...
Inflation falls to 1.9% in November
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined to 1.9% for the month of November 2024, as compared to the 2.0% inflation rate r...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined to 1.9% for the month of November 2024, as compared to the 2.0% inflation rate r...
Unemployment rate for November increases to 6.8%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate stood at 6.8% for the month of November. That rate represents an increase of 0.3% from Oct...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate stood at 6.8% for the month of November. That rate represents an increase of 0.3% from Oct...
Bank of Canada cuts interest rates by one-half percentage point
In its regularly scheduled interest rate announcement, the Bank of Canada indicated that the policy interest rate would be reduced by one-half percentage point. The Bank Rate has therefore declined fr...
In its regularly scheduled interest rate announcement, the Bank of Canada indicated that the policy interest rate would be reduced by one-half percentage point. The Bank Rate has therefore declined fr...
Prescribed leasing interest rate for January 2025
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Canada Pension Plan benefits to increase by 2.6% for 2025
Benefits received under the Canada Pension Plan are indexed annually to increases in the Consumer Price Index. Based on that indexing formula, CPP benefits payable will increase by 2.6%, effective as ...
Benefits received under the Canada Pension Plan are indexed annually to increases in the Consumer Price Index. Based on that indexing formula, CPP benefits payable will increase by 2.6%, effective as ...
$250 payment to be issued under new “Working Canadians Rebate” program
The federal government has announced that eligible Canadians will receive a $250 Working Canadians Rebate to help them meet recent increases in the cost of living. The non-taxable rebate payment will ...
The federal government has announced that eligible Canadians will receive a $250 Working Canadians Rebate to help them meet recent increases in the cost of living. The non-taxable rebate payment will ...
Federal government to provide temporary GST/HST holiday
The federal government recently announced that a temporary tax holiday would be provided from the imposition of the GST/HST. The two-month holiday will run from December 14, 2024, to February 15, 2025...
The federal government recently announced that a temporary tax holiday would be provided from the imposition of the GST/HST. The two-month holiday will run from December 14, 2024, to February 15, 2025...
Inflation rate increases to 2.0% for October 2024
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of October 2024. During October, the overall inflation rate stood...
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of October 2024. During October, the overall inflation rate stood...
Personal income tax brackets to increase by 2.7% in 2025
Federal personal income tax brackets and tax credit amounts are indexed, with such indexing based on year-over-year changes in the overall Consumer Price Index. The Canada Revenue Agency (CRA) recentl...
Federal personal income tax brackets and tax credit amounts are indexed, with such indexing based on year-over-year changes in the overall Consumer Price Index. The Canada Revenue Agency (CRA) recentl...
Prescribed leasing interest rate for December 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
No change in unemployment rate for October
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of October. That rate stood at 6.5%, the same rate recorded for the ...
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of October. That rate stood at 6.5%, the same rate recorded for the ...
CRA issues Tax Tip for participants in online economy
Canadians who earn income from the online economy are required to report all such income earned on their annual tax returns. To assist the tax authorities in the enforcement of those reporting obligat...
Canadians who earn income from the online economy are required to report all such income earned on their annual tax returns. To assist the tax authorities in the enforcement of those reporting obligat...
Canada Pension Plan contribution amounts for 2025
The federal government has announced the Canada Pension Plan contribution percentages and amounts which will be in effect during 2025. Maximum pensionable earnings for 2025 will be $71,300, and the ba...
The federal government has announced the Canada Pension Plan contribution percentages and amounts which will be in effect during 2025. Maximum pensionable earnings for 2025 will be $71,300, and the ba...
CRA issues updated guide to Students and Income Tax
The Canada Revenue Agency (CRA) provides a comprehensive guide to the federal tax rules relevant to post-secondary students during the current taxation year. That guide, P105 – Students and Income T...
The Canada Revenue Agency (CRA) provides a comprehensive guide to the federal tax rules relevant to post-secondary students during the current taxation year. That guide, P105 – Students and Income T...
Canada Carbon Rebate for small businesses to be issued in December 2024
In its budget for the 2024-25 year, the federal government announced that a new Canada Carbon Rebate (CCR) would be provided for small businesses. In order to receive the CCR, a business must be a Can...
In its budget for the 2024-25 year, the federal government announced that a new Canada Carbon Rebate (CCR) would be provided for small businesses. In order to receive the CCR, a business must be a Can...
Employment Insurance premium rates for 2025 announced
The federal government has announced the Employment Insurance (EI) premium rates which will be payable by employees and employers during the 2025 calendar year. For 2025, those rates are set at $1.64 ...
The federal government has announced the Employment Insurance (EI) premium rates which will be payable by employees and employers during the 2025 calendar year. For 2025, those rates are set at $1.64 ...
Bank of Canada reduces interest rates by one-half percentage point
In its regularly scheduled interest rate announcement made on October 23, the Bank of Canada announced that the Bank Rate would be lowered by one-half percentage point, from 4.5% to 4.0%. In the press...
In its regularly scheduled interest rate announcement made on October 23, the Bank of Canada announced that the Bank Rate would be lowered by one-half percentage point, from 4.5% to 4.0%. In the press...
Unemployment rate down slightly in September
The October release of the federal Labour Force Survey shows a slight reduction in the overall rate of unemployment recorded for September 2024, as compared to the previous month. That rate declined b...
The October release of the federal Labour Force Survey shows a slight reduction in the overall rate of unemployment recorded for September 2024, as compared to the previous month. That rate declined b...
Inflation rate drops to 1.6% for September
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation fell to 1.6% for the month of September 2024. As noted in the StatsCan release, that rate...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation fell to 1.6% for the month of September 2024. As noted in the StatsCan release, that rate...
CRA issues Tax Tip on new rules for reporting of income earned from online sales
Millions of Canadians earn income by selling goods or services through websites or apps, and the revenue from such sales represents income to those vendors, which they are required to report on their ...
Millions of Canadians earn income by selling goods or services through websites or apps, and the revenue from such sales represents income to those vendors, which they are required to report on their ...
Prescribed leasing interest rate for November 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
CRA issues updated guides for GST/HST registrants
Canadian businesses which have sales of taxable goods or services in excess of $30,000 must register for GST/HST purposes and are required to file returns and remit GST/HST amounts on a prescribed sch...
Canadian businesses which have sales of taxable goods or services in excess of $30,000 must register for GST/HST purposes and are required to file returns and remit GST/HST amounts on a prescribed sch...
Bank of Canada releases interest rate announcement dates for 2025
The Bank of Canada has provided the dates on which it will make scheduled interest rate announcements during the 2025 calendar year. Those dates are as follows. Wednesday, January 29, Wednesday, Marc...
The Bank of Canada has provided the dates on which it will make scheduled interest rate announcements during the 2025 calendar year. Those dates are as follows. Wednesday, January 29, Wednesday, Marc...
Old Age Security rates to increase by 1.3% in fourth quarter
Benefit amounts provided under the federal Old Age Security (OAS) program are indexed to inflation and adjusted at the beginning of each quarter of the calendar year. The federal government has announ...
Benefit amounts provided under the federal Old Age Security (OAS) program are indexed to inflation and adjusted at the beginning of each quarter of the calendar year. The federal government has announ...
Prescribed leasing interest rate for October 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Inflation rate for August down to 2.0%
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows that the overall rate of inflation for the month of August 2024, as measured on a year-over-year basis, stood at 2.0% ...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows that the overall rate of inflation for the month of August 2024, as measured on a year-over-year basis, stood at 2.0% ...
Mortgage lending rules changed to expand access to 30-year amortizations
Finance Canada has announced that, effective as of December 15, 2024, all first-time home buyers and all buyers of new-build residential properties will qualify for 30-year amortization periods (the t...
Finance Canada has announced that, effective as of December 15, 2024, all first-time home buyers and all buyers of new-build residential properties will qualify for 30-year amortization periods (the t...
Unemployment rate for August up by 0.2%
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall unemployment rate for the month of August. That rate rose to 6.6%, as compared to the 6.4% r...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall unemployment rate for the month of August. That rate rose to 6.6%, as compared to the 6.4% r...
Upcoming deadline for third income tax instalment payment for 2024
The third individual income tax instalment payment for the 2024 tax year is due and payable on or before September 15, 2024. As September 15 falls on a Sunday this year, tax instalments due will be co...
The third individual income tax instalment payment for the 2024 tax year is due and payable on or before September 15, 2024. As September 15 falls on a Sunday this year, tax instalments due will be co...
Prescribed interest rates for 2024
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2024, as well as the rates that will apply for the purpose of calculating emp...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2024, as well as the rates that will apply for the purpose of calculating emp...
Bank of Canada reduces interest rates by 0.25%
In its regularly scheduled interest rate announcement made on September 4, the Bank of Canada reduced interest rates by 0.25%, meaning that the Bank Rate is now 4.5%. In its press release announcing t...
In its regularly scheduled interest rate announcement made on September 4, the Bank of Canada reduced interest rates by 0.25%, meaning that the Bank Rate is now 4.5%. In its press release announcing t...
Tax credit for volunteer first responders doubled for 2024
The federal government provides a non-refundable tax credit for volunteer firefighters and search and rescue volunteers who perform at least 200 hours of combined volunteer service during the year. Th...
The federal government provides a non-refundable tax credit for volunteer firefighters and search and rescue volunteers who perform at least 200 hours of combined volunteer service during the year. Th...
CRA issues updated application form for child and family tax benefits
The federal, provincial, and territorial governments provide a number of child and family tax credit and benefit programs, and the current benefit year for such programs began on July 1, 2024. In most...
The federal, provincial, and territorial governments provide a number of child and family tax credit and benefit programs, and the current benefit year for such programs began on July 1, 2024. In most...
Upcoming deadline for third tax instalment payment for 2024
Individuals who pay income tax by instalments must make the third such instalment payment for the 2024 tax year on or before September 15th, 2024. As that date falls on a Sunday this year, such paymen...
Individuals who pay income tax by instalments must make the third such instalment payment for the 2024 tax year on or before September 15th, 2024. As that date falls on a Sunday this year, such paymen...
Inflation rate for July 2024 down to 2.5%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation (as measured on a year-over-year basis) stood at 2.5% for the month of July - the lowest ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation (as measured on a year-over-year basis) stood at 2.5% for the month of July - the lowest ...
No change in unemployment rate for July 2024
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of July 2024. That rate stood at 6.4%, the same rate recorded for Ju...
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of July 2024. That rate stood at 6.4%, the same rate recorded for Ju...
Finance announces enhancements to Canadian Entrepreneurs’ Incentive
In this year’s budget, the federal government announced that the inclusion rate for all capital gains earned by corporations after June 24, 2024 would increase from 50% to 66.6%. At the same time, t...
In this year’s budget, the federal government announced that the inclusion rate for all capital gains earned by corporations after June 24, 2024 would increase from 50% to 66.6%. At the same time, t...
Prescribed leasing interest rate for September 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
CRA issues guides to tax credit and benefit programs for 2024-25
The federal and provincial governments offer a range of tax credit and benefit programs which provide tax-free payments to eligible Canadians. The current benefit year for such credit and benefit prog...
The federal and provincial governments offer a range of tax credit and benefit programs which provide tax-free payments to eligible Canadians. The current benefit year for such credit and benefit prog...
30-year amortization mortgages to be available for first-time home buyers
Home purchasers who take out a mortgage must pay back that mortgage amount (plus interest) over a specified period of time, known as the amortization period. While the standard amortization period is ...
Home purchasers who take out a mortgage must pay back that mortgage amount (plus interest) over a specified period of time, known as the amortization period. While the standard amortization period is ...
CRA expands SimpleFile service for 2023 returns
The federal and provincial governments offer a number of tax credits and benefits for which both eligibility and the amount receivable are determined, in part, by the income of the recipient. In order...
The federal and provincial governments offer a number of tax credits and benefits for which both eligibility and the amount receivable are determined, in part, by the income of the recipient. In order...
Interest and penalty relief for taxpayers affected by wildfires
The Canada Revenue Agency (CRA) administers a program – the Taxpayer Relief Program – under which interest and penalty charges can be waived where taxpayers are unable to meet their tax filing or ...
The Canada Revenue Agency (CRA) administers a program – the Taxpayer Relief Program – under which interest and penalty charges can be waived where taxpayers are unable to meet their tax filing or ...
Bank of Canada cuts interest rates again
In its regularly scheduled interest rate announcement made on July 24, the Bank of Canada announced that rates would be lowered by 25 basis points. As a result, the Bank Rate now stands at 4.75%. In t...
In its regularly scheduled interest rate announcement made on July 24, the Bank of Canada announced that rates would be lowered by 25 basis points. As a result, the Bank Rate now stands at 4.75%. In t...
HST/GST exemption now provided for mental health services
The Canada Revenue Agency has issued a News Release reminding taxpayers and mental health service providers that mental health services are now generally (except in the province of Québec) exempt fro...
The Canada Revenue Agency has issued a News Release reminding taxpayers and mental health service providers that mental health services are now generally (except in the province of Québec) exempt fro...
Overall inflation rate down slightly in June
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of June 2024. That rate stood at 2.7%, as compared to ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of June 2024. That rate stood at 2.7%, as compared to ...
Unemployment rate up slightly in June
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall rate of unemployment during the month of June 2024. That rate stood at 6.4%, as compared to ...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall rate of unemployment during the month of June 2024. That rate stood at 6.4%, as compared to ...
Upcoming filing deadline for small business Canada Carbon Rebate
In this year’s budget, the federal government announced that the Canada Carbon Rebate program would be expanded to be available to small businesses. In order to be eligible for the rebate a small bu...
In this year’s budget, the federal government announced that the Canada Carbon Rebate program would be expanded to be available to small businesses. In order to be eligible for the rebate a small bu...
Prescribed leasing interest rate for August 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Increase in overall inflation rate for May 2024
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of May 2024 stood at 2.9% – an increase from the 2.7% inflation figure...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of May 2024 stood at 2.9% – an increase from the 2.7% inflation figure...
New tax credit and benefit year begins July 1, 2024
The federal and provincial governments provide eligible taxpayers with a range of refundable tax credit and benefit amounts. Such benefits are generally paid on a monthly or quarterly basis and are re...
The federal and provincial governments provide eligible taxpayers with a range of refundable tax credit and benefit amounts. Such benefits are generally paid on a monthly or quarterly basis and are re...
Increase in Old Age Security benefit amounts for third quarter of 2024
The Old Age Security (OAS) benefit paid to Canadian residents aged 65 and older is indexed quarterly to changes in the Consumer Price Index. The federal government recently announced that, for the thi...
The Old Age Security (OAS) benefit paid to Canadian residents aged 65 and older is indexed quarterly to changes in the Consumer Price Index. The federal government recently announced that, for the thi...
Prescribed leasing interest rate for July 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Increase in capital gains tax effective June 25, 2024
As announced in the 2024-25 federal budget, the percentage of capital gains included in income will increase from 50% to 66.6%, effective for gains realized after June 24, 2024. The change in the incl...
As announced in the 2024-25 federal budget, the percentage of capital gains included in income will increase from 50% to 66.6%, effective for gains realized after June 24, 2024. The change in the incl...
Slight increase in unemployment rate for May
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of May increased slightly, to 6.2%. The comparable rate for April 2024 was 6.1%. Acr...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of May increased slightly, to 6.2%. The comparable rate for April 2024 was 6.1%. Acr...
Prescribed interest rates for 2024
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2024, as well as the rates that will apply for th...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2024, as well as the rates that will apply for th...
June 17 return filing deadline for self-employed taxpayers
All self-employed taxpayers, and their spouses, are required to file an individual income tax return for the 2023 tax year on or before Monday June 17, 2024. All taxpayers (including those who are sel...
All self-employed taxpayers, and their spouses, are required to file an individual income tax return for the 2023 tax year on or before Monday June 17, 2024. All taxpayers (including those who are sel...
Bank of Canada reduces interest rates
In its regularly scheduled interest rate announcement made on June 5, the Bank of Canada announced that rates would be lowered by 25 basis points. As a result, the Bank Rate now stands at 5.0%. The ch...
In its regularly scheduled interest rate announcement made on June 5, the Bank of Canada announced that rates would be lowered by 25 basis points. As a result, the Bank Rate now stands at 5.0%. The ch...
Federal government to provide carbon rebate to small businesses
In its 2024-25 budget, the federal government announced the creation of the Canada Carbon Rebate for Small Businesses, which will be provided to eligible Canadian-controlled private corporations which...
In its 2024-25 budget, the federal government announced the creation of the Canada Carbon Rebate for Small Businesses, which will be provided to eligible Canadian-controlled private corporations which...
Upcoming deadline for second tax instalment payment for 2024
The second individual income tax instalment payment for the 2024 tax year is due and payable on or before Monday June 17, 2024. Taxpayers who are subject to the instalment payment requirement will hav...
The second individual income tax instalment payment for the 2024 tax year is due and payable on or before Monday June 17, 2024. Taxpayers who are subject to the instalment payment requirement will hav...
CRA simplifies procedure for obtaining access to online services
The Canada Revenue Agency’s digital services make it possible for Canadian taxpayers to manage all of their personal tax filing, payment, and appeal rights and obligations online, on the Agency’s ...
The Canada Revenue Agency’s digital services make it possible for Canadian taxpayers to manage all of their personal tax filing, payment, and appeal rights and obligations online, on the Agency’s ...
Rate of inflation down slightly in April
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of April. For that month, the inflation rate stood at ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of April. For that month, the inflation rate stood at ...
Online application process now open for rental housing GST/HST rebate
The Canada Revenue Agency has issued a notice indicating that applications for the GST/HST rebate for new purpose-built rental housing (PBRH) can be made online, on the CRA website, as of May 13, 2024...
The Canada Revenue Agency has issued a notice indicating that applications for the GST/HST rebate for new purpose-built rental housing (PBRH) can be made online, on the CRA website, as of May 13, 2024...
Unemployment rate unchanged in April
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment during the month of April increased by 90,000, the overall unemployment rate was unchanged from March,...
The most recent release of Statistics Canada’s Labour Force Survey shows that, while employment during the month of April increased by 90,000, the overall unemployment rate was unchanged from March,...
CRA issues updated Guide to reporting of self-employment income for 2023
Self-employed taxpayers (and their spouses) are required to file an individual income tax return for the 2023 tax year on or before June 17, 2024. The Canada Revenue Agency (CRA) recently updated and ...
Self-employed taxpayers (and their spouses) are required to file an individual income tax return for the 2023 tax year on or before June 17, 2024. The Canada Revenue Agency (CRA) recently updated and ...
Prescribed leasing interest rate for June 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Making a payment arrangement with the Canada Revenue Agency
All Canadian individual taxpayers were required to pay any balance of income tax owed for the 2023 tax year on or before April 30, 2024. While self-employed taxpayers and their spouses have until June...
All Canadian individual taxpayers were required to pay any balance of income tax owed for the 2023 tax year on or before April 30, 2024. While self-employed taxpayers and their spouses have until June...
Upcoming change to capital gains inclusion rate
The 2024-25 federal budget included a measure to increase the percentage of capital gains which must be included in income by corporations and trusts and, in some circumstances, individual taxpayers. ...
The 2024-25 federal budget included a measure to increase the percentage of capital gains which must be included in income by corporations and trusts and, in some circumstances, individual taxpayers. ...
Individual income tax return filing deadline is April 30, 2024
Most Canadian individual taxpayers are required to file their income tax return for the 2023 tax year on or before Tuesday April 30, 2024. The exception is self-employed taxpayers (and their spouses) ...
Most Canadian individual taxpayers are required to file their income tax return for the 2023 tax year on or before Tuesday April 30, 2024. The exception is self-employed taxpayers (and their spouses) ...
April 30 payment deadline for all individual income tax amounts owed
All Canadian individual taxpayers who have tax amounts owing for the 2023 tax year must pay those amounts in full on or before Tuesday April 30, 2024. Where amounts owed are not paid in full by that d...
All Canadian individual taxpayers who have tax amounts owing for the 2023 tax year must pay those amounts in full on or before Tuesday April 30, 2024. Where amounts owed are not paid in full by that d...
Inflation rate for March increases to 2.9%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation rose from 2.8% in February 2024 to 2.9% in March 2024. Both rates are as measured on a ye...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation rose from 2.8% in February 2024 to 2.9% in March 2024. Both rates are as measured on a ye...
Federal budget proposes increase in Home Buyers’ Plan withdrawal limits
The federal home buyers' plan (HBP) allows eligible first-time home buyers to withdraw up to $35,000 from a registered retirement savings plan (RRSP) to purchase or build a first home. No tax is payab...
The federal home buyers' plan (HBP) allows eligible first-time home buyers to withdraw up to $35,000 from a registered retirement savings plan (RRSP) to purchase or build a first home. No tax is payab...
Budget 2024: Manipulation of Bankrupt Status
Budget 2024 proposes to repeal the exception to the debt forgiveness rules for bankrupt corporations and the loss restriction rule applicable to bankrupt corporations. This change would subject bankru...
Budget 2024 proposes to repeal the exception to the debt forgiveness rules for bankrupt corporations and the loss restriction rule applicable to bankrupt corporations. This change would subject bankru...
Budget 2024: Synthetic Equity Arrangements
Budget 2024 proposes to remove the tax-indifferent investor exception (including the exchange traded exception) to the anti-avoidance rule. This measure would simplify the anti-avoidance rule and prev...
Budget 2024 proposes to remove the tax-indifferent investor exception (including the exchange traded exception) to the anti-avoidance rule. This measure would simplify the anti-avoidance rule and prev...
Budget 2024: Mutual Fund Corporations
Budget 2024 proposes amendments to the Income Tax Act to preclude a corporation from qualifying as a mutual fund corporation where it is controlled by or for the benefit of a corporate group (includ...
Budget 2024 proposes amendments to the Income Tax Act to preclude a corporation from qualifying as a mutual fund corporation where it is controlled by or for the benefit of a corporate group (includ...
Budget 2024: Avoidance of Tax Debts
Budget 2024 proposes to introduce a supplementary rule to strengthen the tax debt anti-avoidance rule, applicable in the following circumstances: there has been a transfer of property from a tax debt...
Budget 2024 proposes to introduce a supplementary rule to strengthen the tax debt anti-avoidance rule, applicable in the following circumstances: there has been a transfer of property from a tax debt...
Budget 2024: Interest Deductibility Limits - Purpose-Built Rental Housing
Legislative proposals to implement the excessive interest and financing expenses limitation (EIFEL) rules are currently before Parliament in Bill C-59. The EIFEL rules provide an exemption for interes...
Legislative proposals to implement the excessive interest and financing expenses limitation (EIFEL) rules are currently before Parliament in Bill C-59. The EIFEL rules provide an exemption for interes...
Budget 2024: Canada Carbon Rebate for Small Businesses
Budget 2024 proposes to return a portion of fuel charge proceeds from a province via the new Canada Carbon Rebate for Small Businesses, an automatic, refundable tax credit directly for eligible busine...
Budget 2024 proposes to return a portion of fuel charge proceeds from a province via the new Canada Carbon Rebate for Small Businesses, an automatic, refundable tax credit directly for eligible busine...
Budget 2024: Immediate Expensing for Productivity-Enhancing Assets
Budget 2024 proposes to provide immediate expensing for new additions of property in respect of Class 44 (patents or the rights to use patented information for a limited or unlimited period), Class 46...
Budget 2024 proposes to provide immediate expensing for new additions of property in respect of Class 44 (patents or the rights to use patented information for a limited or unlimited period), Class 46...
Budget 2024: Accelerated Capital Cost Allowance (CCA)
Budget 2024 proposes to provide an accelerated CCA of 10% for new eligible purpose-built rental projects that begin construction on or after Budget Day and before January 1, 2031, and are available fo...
Budget 2024 proposes to provide an accelerated CCA of 10% for new eligible purpose-built rental projects that begin construction on or after Budget Day and before January 1, 2031, and are available fo...
Budget 2024: Clean Technology Manufacturing Investment Tax Credit
Budget 2024 proposes adjustments to the Clean Technology Manufacturing investment tax credit to provide greater support to businesses engaged in the production of qualifying materials at polymetallic ...
Budget 2024 proposes adjustments to the Clean Technology Manufacturing investment tax credit to provide greater support to businesses engaged in the production of qualifying materials at polymetallic ...
Budget 2024: Clean Electricity Investment Tax Credit
Budget 2024 provides the design and implementation details of the Clean Electricity investment tax credit announced in Budget 2023. Eligible corporations would be: taxable Canadian corporations; prov...
Budget 2024 provides the design and implementation details of the Clean Electricity investment tax credit announced in Budget 2023. Eligible corporations would be: taxable Canadian corporations; prov...
Budget 2024: Home Buyers' Plan
Budget 2024 proposes to increase the home buyers' plan (“HBP”) withdrawal limit from $35,000 to $60,000. This increase would also apply to withdrawals made for the benefit of a disabled individual...
Budget 2024 proposes to increase the home buyers' plan (“HBP”) withdrawal limit from $35,000 to $60,000. This increase would also apply to withdrawals made for the benefit of a disabled individual...
Budget 2024: Charities and Qualified Donees
Budget 2024 proposes to extend the period for which qualifying foreign charities are registered as a qualified donee from 24 months to 36 months. In addition, foreign charities would be required to su...
Budget 2024 proposes to extend the period for which qualifying foreign charities are registered as a qualified donee from 24 months to 36 months. In addition, foreign charities would be required to su...
Budget 2024: Employee Ownership Trust Tax Exemption
Budget 2023 proposed tax rules to facilitate the creation of employee ownership trusts (“EOTs”). These legislative proposals are currently before Parliament in Bill C-59. The 2023 Fall Economic St...
Budget 2023 proposed tax rules to facilitate the creation of employee ownership trusts (“EOTs”). These legislative proposals are currently before Parliament in Bill C-59. The 2023 Fall Economic St...
Budget 2024: Disability Supports Deduction
Budget 2024 proposes to expand the list of expenses recognized under the Disability Supports Deduction, subject to the specified conditions, such as the cost of: an ergonomic work chair (including an...
Budget 2024 proposes to expand the list of expenses recognized under the Disability Supports Deduction, subject to the specified conditions, such as the cost of: an ergonomic work chair (including an...
Budget 2024: Canada Child Benefit
Budget 2024 proposes to amend the Income Tax Act to extend eligibility for the Canada Child Benefit (“CCB”) in respect of a child for six months after the child's death (the "extended period"), if...
Budget 2024 proposes to amend the Income Tax Act to extend eligibility for the Canada Child Benefit (“CCB”) in respect of a child for six months after the child's death (the "extended period"), if...
Budget 2024: Alternative Minimum Tax
Budget 2023 announced amendments to the Income Tax Act that would change the Alternative Minimum Tax (“AMT”) calculation. Draft legislative proposals to implement these changes were published for ...
Budget 2023 announced amendments to the Income Tax Act that would change the Alternative Minimum Tax (“AMT”) calculation. Draft legislative proposals to implement these changes were published for ...
Budget 2024: Volunteer Firefighters and Search and Rescue Volunteers Tax Credits
Budget 2024 proposes to double the credit amount for the Volunteer Firefighters Tax Credit and the Search and Rescue Volunteers Tax Credit from $3,000 to $6,000, applicable to the 2024 and subsequent ...
Budget 2024 proposes to double the credit amount for the Volunteer Firefighters Tax Credit and the Search and Rescue Volunteers Tax Credit from $3,000 to $6,000, applicable to the 2024 and subsequent ...
Budget 2024: Capital Gains Inclusion Rate
Budget 2024 proposes to increase the capital gains inclusion rate from one half to two thirds for corporations and trusts, and from one half to two thirds on the portion of capital gains realized in t...
Budget 2024 proposes to increase the capital gains inclusion rate from one half to two thirds for corporations and trusts, and from one half to two thirds on the portion of capital gains realized in t...
Budget 2024: Canadian Entrepreneurs' Incentive
Budget 2024 proposes to introduce the Canadian Entrepreneurs' Incentive, which would reduce the tax rate on capital gains on the disposition of qualifying shares by an eligible individual. Specificall...
Budget 2024 proposes to introduce the Canadian Entrepreneurs' Incentive, which would reduce the tax rate on capital gains on the disposition of qualifying shares by an eligible individual. Specificall...
Budget 2024: Lifetime Capital Gains Exemption
The amount of the Lifetime Capital Gains Exemption (“LCGE”) is $1,016,836 in 2024 and indexed to inflation. Budget 2024 proposes to increase the LCGE to apply to up to $1.25 million of eligible ca...
The amount of the Lifetime Capital Gains Exemption (“LCGE”) is $1,016,836 in 2024 and indexed to inflation. Budget 2024 proposes to increase the LCGE to apply to up to $1.25 million of eligible ca...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on April 10, the Bank of Canada indicated that, in its view, no change was required to current interest rates. Accordingly, the Bank Rate rem...
In its regularly scheduled interest rate announcement made on April 10, the Bank of Canada indicated that, in its view, no change was required to current interest rates. Accordingly, the Bank Rate rem...
Slight increase in unemployment rate for March
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the rate of unemployment during the month of March. That rate increased by 0.3%, to 6.1%. Among demograph...
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the rate of unemployment during the month of March. That rate increased by 0.3%, to 6.1%. Among demograph...
Mineral exploration tax credit program extended for additional year
The federal government provides investors in flow-through shares of qualifying mineral exploration companies with a non-refundable 15% tax credit. That mineral exploration tax credit program was sched...
The federal government provides investors in flow-through shares of qualifying mineral exploration companies with a non-refundable 15% tax credit. That mineral exploration tax credit program was sched...
Prescribed leasing interest rate for May 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
No change to Old Age Security rates for second quarter of 2024
Increases to benefits payable under the Old Age Security program are based on changes to the Consumer Price Index, with such benefit amounts indexed quarterly. The federal government has announced tha...
Increases to benefits payable under the Old Age Security program are based on changes to the Consumer Price Index, with such benefit amounts indexed quarterly. The federal government has announced tha...
CRA issues updated guide to students and income tax
Post-secondary students are entitled to claim a number of tax deductions and credits for costs relating to their education. In addition, such students are frequently in a position to claim several tax...
Post-secondary students are entitled to claim a number of tax deductions and credits for costs relating to their education. In addition, such students are frequently in a position to claim several tax...
Inflation rate down slightly in February 2024
The most recent release of Statistics Canada’s Consumer Price Index shows a slight decline in the overall inflation rate for the month of February 2024. That rate stood at 2.8%, a 0.1% decline from ...
The most recent release of Statistics Canada’s Consumer Price Index shows a slight decline in the overall inflation rate for the month of February 2024. That rate stood at 2.8%, a 0.1% decline from ...
Prescribed interest rates for 2024
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2024, as well as the rates that will apply for the purpose ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2024, as well as the rates that will apply for the purpose ...
Prescribed leasing interest rate for April 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Unemployment rate up slightly in February 2024
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall rate of unemployment during the month of February. That rate rose to 5.8%, as compared to th...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the overall rate of unemployment during the month of February. That rate rose to 5.8%, as compared to th...
Date announced for release of 2024-25 federal budget
Finance Canada has announced that the federal budget for the upcoming (2024-25) fiscal year will be brought down on Tuesday April 16, 2024, at around 4 p.m. Once the budget measures are announced, the...
Finance Canada has announced that the federal budget for the upcoming (2024-25) fiscal year will be brought down on Tuesday April 16, 2024, at around 4 p.m. Once the budget measures are announced, the...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on March 6, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 5.25...
In its regularly scheduled interest rate announcement made on March 6, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 5.25...
Old Age Security clawback income threshold for 2024
The Canada Revenue Agency has published the income threshold which will apply for purposes of the Old Age Security (OAS) clawback threshold during 2024. Individuals who receive OAS benefits can have u...
The Canada Revenue Agency has published the income threshold which will apply for purposes of the Old Age Security (OAS) clawback threshold during 2024. Individuals who receive OAS benefits can have u...
Electronic filing now mandatory for GST/HST registrants
Canadian businesses which have registered for goods and services tax/harmonized sales tax (GST/HST) purposes must file returns with the federal government on a prescribed schedule, which can be monthl...
Canadian businesses which have registered for goods and services tax/harmonized sales tax (GST/HST) purposes must file returns with the federal government on a prescribed schedule, which can be monthl...
Inflation rate declines slightly in January
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation declined to below 3% during the month of January 2024. The inflation rate for that month (as meas...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation declined to below 3% during the month of January 2024. The inflation rate for that month (as meas...
NETFILE service for filing of 2023 tax returns now available
The Canada Revenue Agency has announced that its digital services for the filing of individual income tax returns for the 2023 tax year are now open. Both NETFILE and ReFILE services are available 21...
The Canada Revenue Agency has announced that its digital services for the filing of individual income tax returns for the 2023 tax year are now open. Both NETFILE and ReFILE services are available 21...
Prescribed leasing interest rate for March 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Slight decline in unemployment rate for January
The most recent release of Statistics Canada’s Labour Force Survey shows a slight drop in the overall rate of unemployment for the month of January 2024. That rate declined by 0.1%, from 5.8% to 5.7...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight drop in the overall rate of unemployment for the month of January 2024. That rate declined by 0.1%, from 5.8% to 5.7...
CRA announces individual tax filing deadlines for 2023 returns
The Canada Revenue Agency (CRA) has announced that the filing deadline for individual income tax returns for the 2023 tax year will be Tuesday April 30, 2024. Self-employed individuals and their spous...
The Canada Revenue Agency (CRA) has announced that the filing deadline for individual income tax returns for the 2023 tax year will be Tuesday April 30, 2024. Self-employed individuals and their spous...
February 29, 2024 deadline for making RRSP contributions for 2023
The Canada Revenue Agency has announced that the deadline for making registered retirement savings plan (RRSP) contributions which can be deducted on the return for the 2023 tax year will be Thursday ...
The Canada Revenue Agency has announced that the deadline for making registered retirement savings plan (RRSP) contributions which can be deducted on the return for the 2023 tax year will be Thursday ...
Income tax return packages to be sent by mid-February
While the majority of Canadian taxpayers file their income tax returns by electronic means, paper returns can still be filed with and processed by the Canada Revenue Agency (CRA). The Agency will be s...
While the majority of Canadian taxpayers file their income tax returns by electronic means, paper returns can still be filed with and processed by the Canada Revenue Agency (CRA). The Agency will be s...
NETFILE service for 2023 tax returns available February 19
The Canada Revenue Agency has announced that its services for the online filing of individual income tax returns for the 2023 tax year will be available in mid-February. Both NETFILE and ReFILE servic...
The Canada Revenue Agency has announced that its services for the online filing of individual income tax returns for the 2023 tax year will be available in mid-February. Both NETFILE and ReFILE servic...
Prescribed leasing interest rate for February 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on January 24, 2024, the Bank of Canada indicated that, in its view, no change to current rates was needed. Accordingly, the Bank Rate remain...
In its regularly scheduled interest rate announcement made on January 24, 2024, the Bank of Canada indicated that, in its view, no change to current rates was needed. Accordingly, the Bank Rate remain...
Online filing of prior year tax returns available until January 26
Canadian taxpayers can still file individual income tax returns for the 2017 to 2022 tax years using the Canada Revenue Agency’s online tax filing service NETFILE. The NETFILE filing service provide...
Canadian taxpayers can still file individual income tax returns for the 2017 to 2022 tax years using the Canada Revenue Agency’s online tax filing service NETFILE. The NETFILE filing service provide...
Rate of inflation increases in December 2023
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of December 2023. That rate stood at 3.4%, as compared to the 3.1...
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the overall rate of inflation for the month of December 2023. That rate stood at 3.4%, as compared to the 3.1...
January 18 deadline for repayment of CEBA loans
During the pandemic, the federal government provided loan financing to eligible Canadian businesses through the Canada Emergency Business Assistance (CEBA) program. Such loan amounts provided are part...
During the pandemic, the federal government provided loan financing to eligible Canadian businesses through the Canada Emergency Business Assistance (CEBA) program. Such loan amounts provided are part...
No change in unemployment rate for December 2023
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of December 2023. That rate stood at 5.8%, the same as the rate reco...
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate for the month of December 2023. That rate stood at 5.8%, the same as the rate reco...
No change in inflation rate for November 2023
The most recent release of Statistics Canada’s Consumer Price Index shows no change in the overall rate of inflation for the month of November 2023. That rate stood at 3.1%, the same rate recorded f...
The most recent release of Statistics Canada’s Consumer Price Index shows no change in the overall rate of inflation for the month of November 2023. That rate stood at 3.1%, the same rate recorded f...
Canada Pension Plan benefits to increase by 4.4% in 2024
Benefits paid under the Canada Pension Plan are indexed annually, based on changes to the Consumer Price Index. The federal government has announced that CPP benefits paid during the 2024 calendar yea...
Benefits paid under the Canada Pension Plan are indexed annually, based on changes to the Consumer Price Index. The federal government has announced that CPP benefits paid during the 2024 calendar yea...
Prescribed leasing interest rate for January 2024
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Prescribed interest rates for 2024
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2024, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2024, as well as the rates that will apply for the purpo...
Old Age Security payments to increase by 0.8% for first quarter of 2024
Employment and Social Development Canada (ESDC) has announced that Old Age Security (OAS) payments for the first quarter (January to March) of 2024 will increase by 0.8%. OAS benefit amounts are adjus...
Employment and Social Development Canada (ESDC) has announced that Old Age Security (OAS) payments for the first quarter (January to March) of 2024 will increase by 0.8%. OAS benefit amounts are adjus...
Final individual income tax instalment for 2023 due on December 15
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2023 tax year must be mad...
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2023 tax year must be mad...
Little change in unemployment rate for November
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the general unemployment rate for the month of November 2023. For that month, unemployment stood at 5.8%, as...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the general unemployment rate for the month of November 2023. For that month, unemployment stood at 5.8%, as...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 6, 2023, the Bank of Canada indicated that, in its view, no change to current rates was needed. Accordingly, the Bank Rate remain...
In its regularly scheduled interest rate announcement made on December 6, 2023, the Bank of Canada indicated that, in its view, no change to current rates was needed. Accordingly, the Bank Rate remain...
New T4 and T4A reporting requirements for 2023
The Canada Revenue Agency has issued a Tax Tip reminding employers and pension plan administrators of a change in T4 and T4A reporting rules, beginning with the 2023 tax year. All issuers of T4s and T...
The Canada Revenue Agency has issued a Tax Tip reminding employers and pension plan administrators of a change in T4 and T4A reporting rules, beginning with the 2023 tax year. All issuers of T4s and T...
CRA announces indexation adjustment for 2024 personal tax amounts
Annual changes in personal income tax brackets and tax credit amounts are based on changes in the Consumer Price Index. The Canada Revenue Agency has announced that, for the upcoming 2024 tax year, su...
Annual changes in personal income tax brackets and tax credit amounts are based on changes in the Consumer Price Index. The Canada Revenue Agency has announced that, for the upcoming 2024 tax year, su...
Fall Economic Statement shows deficit of $40 billion for current fiscal year
The 2023-24 Fall Economic Statement brought down by the Minister of Finance on November 21 indicates that the federal government will run a deficit of $40 billion for the current (2023-24) fiscal year...
The 2023-24 Fall Economic Statement brought down by the Minister of Finance on November 21 indicates that the federal government will run a deficit of $40 billion for the current (2023-24) fiscal year...
Overall inflation rate declines in October 2023
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall inflation rate for the month of October, with the inflation rate for that month coming in at 3.1%, as ...
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall inflation rate for the month of October, with the inflation rate for that month coming in at 3.1%, as ...
Deadline extended for filing of underused housing tax returns for 2022
The federal government levies a 1% underused housing tax (“UHT”) on some owners of vacant or underused residential properties in Canada. Generally, affected property owners are foreign nationals, ...
The federal government levies a 1% underused housing tax (“UHT”) on some owners of vacant or underused residential properties in Canada. Generally, affected property owners are foreign nationals, ...
Date announced for release of Fall Economic Statement
Finance Canada has announced that the Fall Economic Statement for the 2023-24 fiscal year will be presented by the Minister of Finance on Tuesday November 21, 2023 at around 4 p.m. Once the measures i...
Finance Canada has announced that the Fall Economic Statement for the 2023-24 fiscal year will be presented by the Minister of Finance on Tuesday November 21, 2023 at around 4 p.m. Once the measures i...
Little change in overall unemployment rate for October
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the unemployment rate recorded for the month of October 2023. That rate rose by 0.2%, from 5.5% to 5.7%, wit...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the unemployment rate recorded for the month of October 2023. That rate rose by 0.2%, from 5.5% to 5.7%, wit...
CRA announces Canada Pension Plan contribution amounts for 2024
The Canada Revenue Agency (CRA) has announced the contribution percentages, limits, and amounts which will apply for purposes of the Canada Pension Plan (CPP) during 2024. Those figures include change...
The Canada Revenue Agency (CRA) has announced the contribution percentages, limits, and amounts which will apply for purposes of the Canada Pension Plan (CPP) during 2024. Those figures include change...
Rural supplement for Climate Action Incentive Payment to be increased
Residents of Ontario, Nova Scotia, New Brunswick, Manitoba, Prince Edward Island, Saskatchewan, Alberta, and Newfoundland and Labrador receive a Climate Action Incentive Payment (CAIP) from the federa...
Residents of Ontario, Nova Scotia, New Brunswick, Manitoba, Prince Edward Island, Saskatchewan, Alberta, and Newfoundland and Labrador receive a Climate Action Incentive Payment (CAIP) from the federa...
Temporary exemption from carbon tax on purchases of home heating oil
The federal government has announced that sales of home heating oil delivered between November 9, 2023 and April 1, 2027 will be exempt from the federal carbon tax. In the same announcement, the feder...
The federal government has announced that sales of home heating oil delivered between November 9, 2023 and April 1, 2027 will be exempt from the federal carbon tax. In the same announcement, the feder...
CRA issues Tax Tip on reporting of cryptocurrency holdings and transactions
Canadians who hold “crypto-assets”, including cryptocurrency, are required to report any income or capital gains resulting from transactions involving such assets. The Canada Revenue Agency recent...
Canadians who hold “crypto-assets”, including cryptocurrency, are required to report any income or capital gains resulting from transactions involving such assets. The Canada Revenue Agency recent...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on October 25, the Bank of Canada indicated that, in its view, no change to current interest rates was required. The Bank Rate accordingly re...
In its regularly scheduled interest rate announcement made on October 25, the Bank of Canada indicated that, in its view, no change to current interest rates was required. The Bank Rate accordingly re...
CRA issues information on registration renewal for EFILE providers for 2024
EFILE services for the filing of individual income tax returns for the 2023 tax year will be available sometime in early 2024. The Canada Revenue Agency recently issued a program update reminding EFIL...
EFILE services for the filing of individual income tax returns for the 2023 tax year will be available sometime in early 2024. The Canada Revenue Agency recently issued a program update reminding EFIL...
Inflation rate down slightly in September
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall rate of inflation for the month of September. That rate stood at 3.8%, as compared to the 4.0% inflati...
The most recent release of Statistics Canada’s Consumer Price Index shows a drop in the overall rate of inflation for the month of September. That rate stood at 3.8%, as compared to the 4.0% inflati...
Prescribed leasing interest rate for November
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
No change in unemployment rate for September
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate recorded for the month of September, with that rate remaining at 5.5% for the thir...
The most recent release of Statistics Canada’s Labour Force Survey shows no change in the overall unemployment rate recorded for the month of September, with that rate remaining at 5.5% for the thir...
Employment Insurance premium rates for 2024
The Canada Employment Insurance Commission has announced the premium rates and limits which will apply for purposes of the Employment Insurance program during the 2024 calendar year. For 2024, as a re...
The Canada Employment Insurance Commission has announced the premium rates and limits which will apply for purposes of the Employment Insurance program during the 2024 calendar year. For 2024, as a re...
Increase in Old Age Security benefits for October to December 2023
The federal government has announced that amounts paid under the Old Age Security (OAS) program will increase for the fourth quarter (October to December) of 2023. The increases are based on changes t...
The federal government has announced that amounts paid under the Old Age Security (OAS) program will increase for the fourth quarter (October to December) of 2023. The increases are based on changes t...
Prescribed interest leasing rate for October
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Inflation rate increases to 4.0% in August
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of August stood at 4.0%, as compared to the 3.3% inflation rate recorded fo...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of August stood at 4.0%, as compared to the 3.3% inflation rate recorded fo...
Interest and penalty relief provided for taxpayers affected by wildfires
The Canada Revenue Agency has issued a Tax Tip indicating that interest and penalty relief will be provided to taxpayers who are unable to meet their tax filing and/or payment obligations due to this ...
The Canada Revenue Agency has issued a Tax Tip indicating that interest and penalty relief will be provided to taxpayers who are unable to meet their tax filing and/or payment obligations due to this ...
Repayment deadline extended for small business pandemic loans
During the pandemic, the federal government provided the small business sector with financial assistance through the Canada Emergency Business Account (CEBA) program. That program provided eligible sm...
During the pandemic, the federal government provided the small business sector with financial assistance through the Canada Emergency Business Account (CEBA) program. That program provided eligible sm...
Prescribed interest rates for 2023
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the last quarter of 2023, as well as the rates that will apply for the purpos...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the last quarter of 2023, as well as the rates that will apply for the purpos...
No change in unemployment rate for August
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of August stood at 5.5%, the same rate recorded for the month of July. As no...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of August stood at 5.5%, the same rate recorded for the month of July. As no...
Third individual instalment payment of 2023 due September 15
Individual Canadian taxpayers who pay federal income tax by instalments make those instalment payments of tax four times each year, by specified deadlines. The third income tax instalment deadline for...
Individual Canadian taxpayers who pay federal income tax by instalments make those instalment payments of tax four times each year, by specified deadlines. The third income tax instalment deadline for...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on September 6, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate re...
In its regularly scheduled interest rate announcement made on September 6, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate re...
Credit toward CERB repayment debt available to eligible post secondary students
During the pandemic a number of post-secondary students received the Canada Emergency Response Benefit (CERB) and, in some cases, have been asked to repay those benefits to the federal government. The...
During the pandemic a number of post-secondary students received the Canada Emergency Response Benefit (CERB) and, in some cases, have been asked to repay those benefits to the federal government. The...
Increase in withdrawal limits for Registered Education Savings Plans
Canadian parents can save for their children’s post-secondary education on a tax-assisted basis, through the federal Registered Education Savings Plan (RESP) program, which allows parents to contrib...
Canadian parents can save for their children’s post-secondary education on a tax-assisted basis, through the federal Registered Education Savings Plan (RESP) program, which allows parents to contrib...
New forms issued for withdrawals and transfers involving First Home Savings Accounts
Beginning in 2023, Canadians are able to save for the purchase of a first home on a tax-assisted basis through the new First Home Savings Account (FHSA) program. One of the features of the FHSA progra...
Beginning in 2023, Canadians are able to save for the purchase of a first home on a tax-assisted basis through the new First Home Savings Account (FHSA) program. One of the features of the FHSA progra...
Upcoming changes to electronic filing requirements for businesses
For several years, businesses which file more than 50 information returns (slips and summaries) have been required to file those returns by electronic means, rather than paper filing. Effective as of ...
For several years, businesses which file more than 50 information returns (slips and summaries) have been required to file those returns by electronic means, rather than paper filing. Effective as of ...
Finance Canada issues reminder of availability of First Home Savings Accounts
Beginning in 2023, Canadians aged 18 and over can save for the purchase of a first home on a tax-assisted basis, through the First Home Savings Account (FHSA) program. Contributions (to a maximum of $...
Beginning in 2023, Canadians aged 18 and over can save for the purchase of a first home on a tax-assisted basis, through the First Home Savings Account (FHSA) program. Contributions (to a maximum of $...
Increase in rate of inflation for July
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall inflation rate increased by .5% for the month of July. That rate reached 3.3%, as compared to the 2.8% infl...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall inflation rate increased by .5% for the month of July. That rate reached 3.3%, as compared to the 2.8% infl...
Updated publication issued for GST/HST tax credit for 2023-24
The federal government provides a refundable tax credit to lower and middle-income Canadians, to help offset the impact of the goods and services tax/harmonized sales tax (GST/HST). That credit is p...
The federal government provides a refundable tax credit to lower and middle-income Canadians, to help offset the impact of the goods and services tax/harmonized sales tax (GST/HST). That credit is p...
Unemployment rate for July up by 0.1%
The most recent release of Statistics Canada’s Labour Force Survey shows little change in overall unemployment rate for the month of July 2023. That rate increased by 0.1% to 5.5%. Across demographi...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in overall unemployment rate for the month of July 2023. That rate increased by 0.1% to 5.5%. Across demographi...
Prescribed interest rate for leasing for September 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada releases schedule for interest rate announcements in 2024
The Bank of Canada issues interest rate announcements on eight scheduled dates throughout the year, and the Bank recently released its schedule for such announcements during 2024. Interest rate announ...
The Bank of Canada issues interest rate announcements on eight scheduled dates throughout the year, and the Bank recently released its schedule for such announcements during 2024. Interest rate announ...
Updated guide issued for Canada Child Benefit program for 2023-24
Through its Canada Child Benefit program, the federal government provides a non-taxable monthly benefit to parents of children under the age of 18. Benefit amounts are adjusted at the start of each be...
Through its Canada Child Benefit program, the federal government provides a non-taxable monthly benefit to parents of children under the age of 18. Benefit amounts are adjusted at the start of each be...
CRA issues updated information on tax collection policies
During the pandemic, relieving changes were made to the policies and practices of the Canada Revenue Agency (CRA) with respect to the collection of tax amounts owed by Canadians. In the past several m...
During the pandemic, relieving changes were made to the policies and practices of the Canada Revenue Agency (CRA) with respect to the collection of tax amounts owed by Canadians. In the past several m...
Second benefit period for Canada Dental Benefit opened July 1
The Canada Revenue Agency has issued a reminder to Canadian taxpayers that applications for the second benefit period for the Canada Dental Benefit can be made as of July 1, 2023. Eligible families ca...
The Canada Revenue Agency has issued a reminder to Canadian taxpayers that applications for the second benefit period for the Canada Dental Benefit can be made as of July 1, 2023. Eligible families ca...
Overall inflation rate for June down to 2.8%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June 2023 (as measured on a year-over-year basis) stood at 2.8%. The com...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June 2023 (as measured on a year-over-year basis) stood at 2.8%. The com...
Increases to Old Age Security benefits effective July 2023
The federal government has announced that maximum payments under the Old Age Security program will increase for the July to September 2023 benefit period. Effective with the July 2023 payment, the max...
The federal government has announced that maximum payments under the Old Age Security program will increase for the July to September 2023 benefit period. Effective with the July 2023 payment, the max...
Bank of Canada raises interest rates again
In its regularly scheduled interest rate announcement made on July 10, the Bank of Canada indicated that, in its view, another increase to interest was warranted. Consequently, the Bank Rate now stand...
In its regularly scheduled interest rate announcement made on July 10, the Bank of Canada indicated that, in its view, another increase to interest was warranted. Consequently, the Bank Rate now stand...
Prescribed interest rate for leasing for August 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Advance payment of Canada Workers’ Benefit begins in July 2023
The Canada Workers’ Benefit (CWB) is a refundable tax credit provided to lower-income individuals and families which have working income from employment or self-employment. In previous years, the CW...
The Canada Workers’ Benefit (CWB) is a refundable tax credit provided to lower-income individuals and families which have working income from employment or self-employment. In previous years, the CW...
Taxpayer relief for Canadians affected by wildfires
The Canada Revenue Agency has issued a reminder to Canadians of the availability of administrative relief from tax interest and penalty charges for taxpayers who have been affected by this spring’s ...
The Canada Revenue Agency has issued a reminder to Canadians of the availability of administrative relief from tax interest and penalty charges for taxpayers who have been affected by this spring’s ...
Inflation rate down to 3.4% for May
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for May 2023 stood at 3.4%, as measured on a year-over-year basis. The comparable rate fo...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for May 2023 stood at 3.4%, as measured on a year-over-year basis. The comparable rate fo...
Online digital form now available for disability tax credit applications
Qualifying Canadians are entitled to claim a disability tax credit which reduces both federal and provincial tax payable. In order to claim that credit an individual must complete and submit an applic...
Qualifying Canadians are entitled to claim a disability tax credit which reduces both federal and provincial tax payable. In order to claim that credit an individual must complete and submit an applic...
New information released on upcoming payment of grocery rebate
The federal government has released additional details of the “grocery rebate” which was announced in the 2023 federal Budget. That rebate is scheduled to be paid to eligible Canadians on July 5, ...
The federal government has released additional details of the “grocery rebate” which was announced in the 2023 federal Budget. That rebate is scheduled to be paid to eligible Canadians on July 5, ...
Unemployment rate up slightly in May
The most recent release of Statistics Canada’s Labour Force Survey shows that unemployment rose slightly during May 2023, the first such increase since August of 2022. During May, the unemployment r...
The most recent release of Statistics Canada’s Labour Force Survey shows that unemployment rose slightly during May 2023, the first such increase since August of 2022. During May, the unemployment r...
Prescribed interest rates for first three quarters of 2023
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2023, as well as the rates that will apply for th...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2023, as well as the rates that will apply for th...
Prescribed interest rate for leasing for July 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada raises interest rates by one-quarter percentage point
In its regularly scheduled interest rate announcement made on June 7, the Bank of Canada indicated that interest rates would be increased by one-quarter percentage point, bringing the Bank Rate to 5%....
In its regularly scheduled interest rate announcement made on June 7, the Bank of Canada indicated that interest rates would be increased by one-quarter percentage point, bringing the Bank Rate to 5%....
Second individual income tax instalment for 2023 due June 15
Canadians who pay income tax by instalment make those instalment payments of tax four times each year, by specified deadlines. The second income tax instalment deadline for the 2023 tax year falls on ...
Canadians who pay income tax by instalment make those instalment payments of tax four times each year, by specified deadlines. The second income tax instalment deadline for the 2023 tax year falls on ...
June 15, 2023 filing deadline for self-employed taxpayers
While most Canadian taxpayers were required to file their income tax returns for the 2022 tax year on or before May 1, 2023, self-employed taxpayers (and their spouses) have until Thursday June 15, 20...
While most Canadian taxpayers were required to file their income tax returns for the 2022 tax year on or before May 1, 2023, self-employed taxpayers (and their spouses) have until Thursday June 15, 20...
New tax credit and benefit year starts July 1, 2023
The federal (and provincial) governments provide taxpayers with a number of tax credits and benefits which are delivered through monthly or quarterly direct payments. In many cases, eligibility for su...
The federal (and provincial) governments provide taxpayers with a number of tax credits and benefits which are delivered through monthly or quarterly direct payments. In many cases, eligibility for su...
Payment of one-time “grocery rebate” scheduled for July 5
In its 2023-24 budget, the federal government announced that, to assist Canadians coping with recent inflationary increases in the cost of food, it would be providing a one-time “grocery rebate”. ...
In its 2023-24 budget, the federal government announced that, to assist Canadians coping with recent inflationary increases in the cost of food, it would be providing a one-time “grocery rebate”. ...
Making a payment arrangement with the Canada Revenue Agency
All Canadian individual taxpayers were required to pay any tax balance owed for the 2022 tax year on or before May 1, 2023. As of May 2, 2023, interest at a rate of 9% is levied on all such outstandin...
All Canadian individual taxpayers were required to pay any tax balance owed for the 2022 tax year on or before May 1, 2023. As of May 2, 2023, interest at a rate of 9% is levied on all such outstandin...
Inflation rate up slightly for April 2023
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation increased slightly during the month of April, to 4.4%. The comparable rate for March 2023...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation increased slightly during the month of April, to 4.4%. The comparable rate for March 2023...
CRA issues updated publication on taxpayer objection and appeal rights
Most Canadians were required to file an income tax return for the 2022 tax year by the end of April 2023. For each such filing, a Notice of Assessment is issued by the Canada Revenue Agency (CRA), out...
Most Canadians were required to file an income tax return for the 2022 tax year by the end of April 2023. For each such filing, a Notice of Assessment is issued by the Canada Revenue Agency (CRA), out...
Prescribed interest rate for leasing for June 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Requesting a reduction in tax withholdings from Old Age Security payments
Canadians who receive Old Age Security (OAS) benefits and whose net income is above a specified threshold (currently $86,912) must repay a portion of those benefits, through the OAS recovery tax (or c...
Canadians who receive Old Age Security (OAS) benefits and whose net income is above a specified threshold (currently $86,912) must repay a portion of those benefits, through the OAS recovery tax (or c...
Prescribed interest rate for leasing for May 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
May 1, 2023 deadline for filing of individual income tax returns for 2022
Most individual Canadian taxpayers must file their income tax returns for the 2022 tax year on or before Monday, May 1, 2023. Self-employed individuals and their spouses, however, have until June 15, ...
Most individual Canadian taxpayers must file their income tax returns for the 2022 tax year on or before Monday, May 1, 2023. Self-employed individuals and their spouses, however, have until June 15, ...
May 1, 2023 deadline for payment of individual income taxes for 2022
Monday May 1, 2023 is the deadline by which all individual income taxes owed for the 2022 tax year must be paid. The May 1 payment deadline applies regardless of the date by which an individual must f...
Monday May 1, 2023 is the deadline by which all individual income taxes owed for the 2022 tax year must be paid. The May 1 payment deadline applies regardless of the date by which an individual must f...
CRA warns of scam involving grocery rebate
In the 2023-24 budget, the federal government announced that a one-time payment would be made to Canadians to help them meet inflationary increases in the cost of living. That payment – the “groce...
In the 2023-24 budget, the federal government announced that a one-time payment would be made to Canadians to help them meet inflationary increases in the cost of living. That payment – the “groce...
Inflation rate for March down to 4.3%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall inflation rate for the month of March 2023 stood at 4.3%, as compared to the 5.2% rate recorded for Februar...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall inflation rate for the month of March 2023 stood at 4.3%, as compared to the 5.2% rate recorded for Februar...
Bank of Canada leaves interest rates unchanged
In its scheduled interest rate announcement made on April 12, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate remains at 4.75...
In its scheduled interest rate announcement made on April 12, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate remains at 4.75...
Unemployment rate for March unchanged at 5.0%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of March 2023 stood at 5.0%, the same rate recorded for the previous month. ...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of March 2023 stood at 5.0%, the same rate recorded for the previous month. ...
Federal government announces OAS payment amounts for second quarter of 2023
Old Age Security (OAS) benefits paid monthly to eligible Canadians are indexed to inflation on a quarterly basis, meaning that such benefit amounts increase to reflect that indexing at the beginning o...
Old Age Security (OAS) benefits paid monthly to eligible Canadians are indexed to inflation on a quarterly basis, meaning that such benefit amounts increase to reflect that indexing at the beginning o...
Penalty and interest waiver available for Underused Housing Tax returns
The federal government imposes a 1% annual Underused Housing Tax (UHT) on the ownership of vacant or underused housing in Canada. While the tax usually applies to non-resident, non-Canadian owners it ...
The federal government imposes a 1% annual Underused Housing Tax (UHT) on the ownership of vacant or underused housing in Canada. While the tax usually applies to non-resident, non-Canadian owners it ...
CRA resumes debt collection activities
Where the Canada Revenue Agency (CRA) owes an amount to the taxpayer (such as a tax refund), the Agency has the right to deduct from that amount any debts owed by the taxpayer to the federal governmen...
Where the Canada Revenue Agency (CRA) owes an amount to the taxpayer (such as a tax refund), the Agency has the right to deduct from that amount any debts owed by the taxpayer to the federal governmen...
Prescribed interest rates for first half of 2023
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2023, as well as the rates that will apply for the purpose of cal...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2023, as well as the rates that will apply for the purpose of cal...
Budget 2023 - Alcohol Excise Duty
Budget 2023 proposes to temporarily cap the inflation adjustment for excise duties on beer, spirits, and wine at two per cent, for one year only, as of April 1, 2023. The excise duty rates on all alco...
Budget 2023 proposes to temporarily cap the inflation adjustment for excise duties on beer, spirits, and wine at two per cent, for one year only, as of April 1, 2023. The excise duty rates on all alco...
Budget 2023 - General Anti-Avoidance Rule (“GAAR”)
Budget 2023 proposes to amend the GAAR by: introducing a preamble; changing the avoidance transaction standard; introducing an economic substance rule; introducing a penalty; and extending the reasse...
Budget 2023 proposes to amend the GAAR by: introducing a preamble; changing the avoidance transaction standard; introducing an economic substance rule; introducing a penalty; and extending the reasse...
Budget 2023 - Strengthening the Intergenerational Business Transfer Framework
Budget 2023 proposes to amend the rules introduced by Bill C-208 to ensure that they apply only where a genuine intergenerational business transfer takes place. To provide flexibility, it is proposed ...
Budget 2023 proposes to amend the rules introduced by Bill C-208 to ensure that they apply only where a genuine intergenerational business transfer takes place. To provide flexibility, it is proposed ...
Budget 2023 - Registered Disability Savings Plans
Budget 2023 proposes to extend the qualifying family member measure (which allows a family member to open an RDSP for an adult relative) by three years, to December 31, 2026. Siblings will also be qua...
Budget 2023 proposes to extend the qualifying family member measure (which allows a family member to open an RDSP for an adult relative) by three years, to December 31, 2026. Siblings will also be qua...
Budget 2023 - Registered Education Savings Plans
Budget 2023 proposes to increase limits on certain RESP withdrawals from $5,000 to $8,000 for full-time students, and from $2,500 to $4,000 for part-time students. Budget 2023 also proposes to allow d...
Budget 2023 proposes to increase limits on certain RESP withdrawals from $5,000 to $8,000 for full-time students, and from $2,500 to $4,000 for part-time students. Budget 2023 also proposes to allow d...
Budget 2023 - Deduction for Tradespeople’s Tool Expenses
Budget 2023 proposes to double the maximum employment deduction for tradespeople’s and apprentice mechanics’ tools from $500 to $1,000, effective for 2023 and subsequent taxation years....
Budget 2023 proposes to double the maximum employment deduction for tradespeople’s and apprentice mechanics’ tools from $500 to $1,000, effective for 2023 and subsequent taxation years....
Budget 2023 - Automatic Tax Filing
The CRA’s automatic tax filing service called “File My Return”, which reached some 53,000 Canadians in 2022, will be expanded to reach more than 2 million Canadians by 2025. The government will ...
The CRA’s automatic tax filing service called “File My Return”, which reached some 53,000 Canadians in 2022, will be expanded to reach more than 2 million Canadians by 2025. The government will ...
Budget 2023 - Grocery Rebate
Budget 2023 proposes to introduce an increase to the maximum GST/HST tax credit (“GSTC”) amount for January 2023 that would be known as the Grocery Rebate. Eligible individuals would receive an ad...
Budget 2023 proposes to introduce an increase to the maximum GST/HST tax credit (“GSTC”) amount for January 2023 that would be known as the Grocery Rebate. Eligible individuals would receive an ad...
Budget 2023 - Alternative Minimum Tax for High-Income Individuals
The federal government proposes to: Increase the Alternative Minimum Tax (“AMT”) capital gains inclusion rate from 80% to 100%. Capital loss carry forwards and allowable business investment losse...
The federal government proposes to: Increase the Alternative Minimum Tax (“AMT”) capital gains inclusion rate from 80% to 100%. Capital loss carry forwards and allowable business investment losse...
Prescribed interest rate for leasing for April 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Inflation rate for February 2023 at 5.2%
The most recent release of Statistics Canada’s Consumer Price Index puts the overall rate of inflation for the month of February 2023 at 5.2%, as compared to the 5.9% rate recorded for January. Both...
The most recent release of Statistics Canada’s Consumer Price Index puts the overall rate of inflation for the month of February 2023 at 5.2%, as compared to the 5.9% rate recorded for January. Both...
April 1 launch of Tax-Free First Home Savings Account program
As part of the 2022 Federal Budget, the federal government introduced the Tax-Free First Home Savings Account (FHSA). The FHSA allows eligible taxpayers to contribute $8,000 per year (to a lifetime ma...
As part of the 2022 Federal Budget, the federal government introduced the Tax-Free First Home Savings Account (FHSA). The FHSA allows eligible taxpayers to contribute $8,000 per year (to a lifetime ma...
Date announced for 2023-24 Federal Budget
The Minister of Finance has announced that the 2023-24 Federal Budget will be brought down on Tuesday March 28, 2023, at around 4 p.m. EST. The media release providing the budget date can be found on ...
The Minister of Finance has announced that the 2023-24 Federal Budget will be brought down on Tuesday March 28, 2023, at around 4 p.m. EST. The media release providing the budget date can be found on ...
CRA telephone help services for 2023 filing season
The Canada Revenue Agency (CRA) provides taxpayers with several telephone help lines, through which taxpayers can obtain both general tax information and information specific to their tax situation. T...
The Canada Revenue Agency (CRA) provides taxpayers with several telephone help lines, through which taxpayers can obtain both general tax information and information specific to their tax situation. T...
Bank of Canada leaves interest rates unchanged
For the first time since January of 2022, the Bank of Canada has determined that no increase to current interest rates is needed. Consequently, the Bank Rate remains at 4.75%. In the press release ann...
For the first time since January of 2022, the Bank of Canada has determined that no increase to current interest rates is needed. Consequently, the Bank Rate remains at 4.75%. In the press release ann...
CRA announces meal and vehicle expense amounts claimable for 2022
Taxpayers are entitled to make a claim on their annual return for costs incurred in certain circumstances for meal costs and vehicle expenses. Such costs may, for instance, be claimable by individuals...
Taxpayers are entitled to make a claim on their annual return for costs incurred in certain circumstances for meal costs and vehicle expenses. Such costs may, for instance, be claimable by individuals...
Inflation rate for January 2023 decreases to 5.9%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation continues to moderate. The inflation rate for the month of January 2023 stood at 5.9%, as...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation continues to moderate. The inflation rate for the month of January 2023 stood at 5.9%, as...
March 31, 2023 deadline for claiming top-up to Canada Housing Benefit
In 2022, the federal government announced the creation of a top-up to the existing Canada Housing Benefit, which would provide a one-time payment of $500 to lower income individuals who pay a dispropo...
In 2022, the federal government announced the creation of a top-up to the existing Canada Housing Benefit, which would provide a one-time payment of $500 to lower income individuals who pay a dispropo...
CRA issues Tax Tip on reporting of income from pandemic benefits
Millions of Canadians received federal government benefits during the pandemic, and those benefits represented income which must be reported on the annual tax return. The CRA will, by the end of Febru...
Millions of Canadians received federal government benefits during the pandemic, and those benefits represented income which must be reported on the annual tax return. The CRA will, by the end of Febru...
No change in unemployment rate for January
The most recent release of Statistics Canada’s Labour Force Survey shows that, while there was an increase in employment during January 2023, the unemployment rate was unchanged at 5.0%. Employment ...
The most recent release of Statistics Canada’s Labour Force Survey shows that, while there was an increase in employment during January 2023, the unemployment rate was unchanged at 5.0%. Employment ...
CRA announces payment deadline for 2022 tax balances
The Canada Revenue Agency has announced that the tax payment deadline for individual income taxes owed for the 2022 tax year will be Monday May 1, 2023. While the payment deadline is usually April 30,...
The Canada Revenue Agency has announced that the tax payment deadline for individual income taxes owed for the 2022 tax year will be Monday May 1, 2023. While the payment deadline is usually April 30,...
CRA announces individual tax filing deadline for 2022 returns
The Canada Revenue Agency has announced that the filing deadline for individual income tax returns for the 2022 tax year will be Monday May 1, 2023. While the filing deadline is usually April 30, an e...
The Canada Revenue Agency has announced that the filing deadline for individual income tax returns for the 2022 tax year will be Monday May 1, 2023. While the filing deadline is usually April 30, an e...
March 1, 2023 deadline for making RRSP contributions for 2022
The Canada Revenue Agency has announced that the deadline for making registered retirement savings plan (RRSP) contributions which can be deducted on the return for the 2022 tax year will be Wednesday...
The Canada Revenue Agency has announced that the deadline for making registered retirement savings plan (RRSP) contributions which can be deducted on the return for the 2022 tax year will be Wednesday...
CRA issues individual income tax return package for 2022
The Canada Revenue Agency (CRA) has issued the tax package to be used for the filing of individual income tax returns for the 2022 tax year. That package, which includes both the income tax return and...
The Canada Revenue Agency (CRA) has issued the tax package to be used for the filing of individual income tax returns for the 2022 tax year. That package, which includes both the income tax return and...
NETFILE service for 2022 returns available February 20
The Canada Revenue Agency (CRA) has announced that its NETFILE service for filing of federal individual income tax returns for the 2022 tax year will be available on Monday February 20, 2023. Informat...
The Canada Revenue Agency (CRA) has announced that its NETFILE service for filing of federal individual income tax returns for the 2022 tax year will be available on Monday February 20, 2023. Informat...
CRA to distribute paper T1 return forms to selected taxpayers
While the majority of Canadian taxpayers file their individual income tax returns electronically, a significant number of taxpayers file a paper return. The Canada Revenue Agency has issued a Tax Tip ...
While the majority of Canadian taxpayers file their individual income tax returns electronically, a significant number of taxpayers file a paper return. The Canada Revenue Agency has issued a Tax Tip ...
Bank of Canada announces eighth straight increase in interest rates
In its regularly scheduled interest rate announcement made on January 25, the Bank of Canada announced that interest rates would be increased by one-quarter percentage point. That change marks the eig...
In its regularly scheduled interest rate announcement made on January 25, the Bank of Canada announced that interest rates would be increased by one-quarter percentage point. That change marks the eig...
NETFILE service for prior year returns open until January 27
The Canada Revenue Agency has announced that its NETFILE service for the filing of prior year returns will be available until January 27, 2023. Specifically, NETFILE and ReFILE services for tax years ...
The Canada Revenue Agency has announced that its NETFILE service for the filing of prior year returns will be available until January 27, 2023. Specifically, NETFILE and ReFILE services for tax years ...
Inflation rate down slightly in December 2022
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of December 2022. For that month, inflation stood at 6...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation declined slightly during the month of December 2022. For that month, inflation stood at 6...
Finance holds public consultation process for 2023-24 federal Budget
Finance Canada is currently conducting the consultation process leading to the release of the 2023-24 federal Budget this spring. There are two parts to the budget consultation process – an online s...
Finance Canada is currently conducting the consultation process leading to the release of the 2023-24 federal Budget this spring. There are two parts to the budget consultation process – an online s...
Unemployment rate for December 2022
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of December 2022 stood at 5.0%. During the month of December, the country ad...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of December 2022 stood at 5.0%. During the month of December, the country ad...
Canada Pension Plan retirement benefit amounts for 2023
The federal government has announced the amounts which may be paid as benefits under the Canada Pension Plan (CPP) during 2023. The amount of retirement benefit receivable by an individual is based on...
The federal government has announced the amounts which may be paid as benefits under the Canada Pension Plan (CPP) during 2023. The amount of retirement benefit receivable by an individual is based on...
Old Age Security benefit amounts for first quarter of 2023
The federal government has announced the amounts which will be paid to recipients of Old Age Security benefits for the first quarter of 2023. Such benefit amounts are indexed quarterly, based on the c...
The federal government has announced the amounts which will be paid to recipients of Old Age Security benefits for the first quarter of 2023. Such benefit amounts are indexed quarterly, based on the c...
Bank of Canada releases interest rate announcement dates for 2023
The Bank of Canada announces its decision with respect to interest rates on eight scheduled dates each year, and the Bank has provided the dates on which such interest rate announcements will be made ...
The Bank of Canada announces its decision with respect to interest rates on eight scheduled dates each year, and the Bank has provided the dates on which such interest rate announcements will be made ...
Prescribed interest rate for leasing for January 2023
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Prescribed interest rates for first quarter of 2023
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2023, as well as the rates that will apply for the purpose of ...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2023, as well as the rates that will apply for the purpose of ...
Application process for rental support payment now open
The federal government is providing a one-time non-taxable $500 payment to assist eligible Canadians who pay more than 30% of their income for rental housing, and the application process for that bene...
The federal government is providing a one-time non-taxable $500 payment to assist eligible Canadians who pay more than 30% of their income for rental housing, and the application process for that bene...
Final individual instalment payment for 2022 due on December 15
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2022 tax year must be mad...
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2022 tax year must be mad...
Bank of Canada announces seventh straight increase in interest rates
In its regularly scheduled interest rate announcement made on December 7, the Bank of Canada announced that interest rates would be increased by one-half percentage point. That change marks the sevent...
In its regularly scheduled interest rate announcement made on December 7, the Bank of Canada announced that interest rates would be increased by one-half percentage point. That change marks the sevent...
Old Age Security benefit clawback threshold for 2023
Most Canadians are eligible to receive Old Age Security (OAS) benefits after they turn 65 (although receipt of such benefits can be deferred to as late as age 70). Regardless of the age at which recei...
Most Canadians are eligible to receive Old Age Security (OAS) benefits after they turn 65 (although receipt of such benefits can be deferred to as late as age 70). Regardless of the age at which recei...
CRA issues 2022 guide to employee taxable benefits
The Canada Revenue Agency (CRA) has updated and re-issued its publication T4130 Employers’ Guide – Taxable Benefits and Allowances. The Guide, which can be found on the CRA website at T4130 Employ...
The Canada Revenue Agency (CRA) has updated and re-issued its publication T4130 Employers’ Guide – Taxable Benefits and Allowances. The Guide, which can be found on the CRA website at T4130 Employ...
Tax-free savings account contribution limit increased for 2023
Canadians over the age of 17 can make annual contributions (up to a specified maximum) to a tax-free savings account (TFSA). While contributions made are not deductible from income, all investment inc...
Canadians over the age of 17 can make annual contributions (up to a specified maximum) to a tax-free savings account (TFSA). While contributions made are not deductible from income, all investment inc...
CRA announces personal income tax indexing factor for 2023
Each year, personal income tax brackets and tax credit amounts are increased to reflect year-over-year changes in the Consumer Price Index. The Canada Revenue Agency has announced that the indexing fa...
Each year, personal income tax brackets and tax credit amounts are increased to reflect year-over-year changes in the Consumer Price Index. The Canada Revenue Agency has announced that the indexing fa...
Overall unemployment rate for October at 5.2%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of October 2022 stood at 5.2%.During that month, employment increased among ...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of October 2022 stood at 5.2%.During that month, employment increased among ...
Inflation rate for October comes in at 6.9%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of October stood at 6.9%, the same rate recorded for the month of September...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of October stood at 6.9%, the same rate recorded for the month of September...
Employment Insurance premium rates for 2023 announced
The federal government has announced the amount of Employment Insurance (EI) premiums which will be payable by employees and employers during the 2023 calendar year. The 2023 EI premium rate is $1.63 ...
The federal government has announced the amount of Employment Insurance (EI) premiums which will be payable by employees and employers during the 2023 calendar year. The 2023 EI premium rate is $1.63 ...
Canada Workers Benefit to be paid in advance
The Canada Workers Benefit is a refundable tax credit provided by the federal government to lower income Canadians who have “earned working income” during the year. The credit of up to $1,428 for ...
The Canada Workers Benefit is a refundable tax credit provided by the federal government to lower income Canadians who have “earned working income” during the year. The credit of up to $1,428 for ...
Prescribed interest rate for leasing for December 2022
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Canada Revenue Agency announces CPP contribution amounts for 2023
The Canada Revenue Agency (CRA) has announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600. The basic exemption amount for 2023 remains $3,500. Th...
The Canada Revenue Agency (CRA) has announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2023 will be $66,600. The basic exemption amount for 2023 remains $3,500. Th...
Bank of Canada raises interest rates again
In its regularly scheduled interest rate announcement made on October 26, the Bank of Canada once again announced an increase in interest rates, bringing the Bank Rate to 4.00%. The most recent change...
In its regularly scheduled interest rate announcement made on October 26, the Bank of Canada once again announced an increase in interest rates, bringing the Bank Rate to 4.00%. The most recent change...
Canada Revenue Agency issues updated guide to determining who is an employee
The characterization of an individual as an employee or as a self-employed taxpayer affects both the tax treatment of that individual’s income and the remittance and filing obligations which are imp...
The characterization of an individual as an employee or as a self-employed taxpayer affects both the tax treatment of that individual’s income and the remittance and filing obligations which are imp...
Prescribed interest rate for leasing for November 2022
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Food inflation rate reaches 41-year high in September
The most recent release of Statistics Canada’s Consumer Price Index shows that inflationary increases in the price of food continue to outpace the overall inflation rate.During September, that overa...
The most recent release of Statistics Canada’s Consumer Price Index shows that inflationary increases in the price of food continue to outpace the overall inflation rate.During September, that overa...
Filing and payment deadline extension provided to taxpayers in Atlantic Canada
The Canada Revenue Agency has announced that administrative tax relief will be provided to taxpayers living in Atlantic Canada who were affected by Hurricane Fiona. Specifically, the CRA has announced...
The Canada Revenue Agency has announced that administrative tax relief will be provided to taxpayers living in Atlantic Canada who were affected by Hurricane Fiona. Specifically, the CRA has announced...
Unemployment rate down slightly in September
The most recent release of Statistics Canada’s Labour Force Survey shows that there was little change in the overall employment picture for the month of September. The unemployment rate for that mon...
The most recent release of Statistics Canada’s Labour Force Survey shows that there was little change in the overall employment picture for the month of September. The unemployment rate for that mon...
Old Age Security benefit amounts to increase for fourth quarter of 2022
The federal government has announced that maximum payments under the Old Age Security (OAS) program will increase for the October to December 2022 benefit period. For that period, and owing to changes...
The federal government has announced that maximum payments under the Old Age Security (OAS) program will increase for the October to December 2022 benefit period. For that period, and owing to changes...
November 3 final application deadline for business pandemic benefits
While the last of the pandemic benefit programs for Canadian businesses ended as of May 7, 2022, eligible businesses have up to 180 days after the end of a benefit claim period to apply for such benef...
While the last of the pandemic benefit programs for Canadian businesses ended as of May 7, 2022, eligible businesses have up to 180 days after the end of a benefit claim period to apply for such benef...
Federal government to provide one-time Canada Housing Benefit top-up payment
Finance Canada has announced that it plans to provide a one-time payment of $500 under the Canada Housing Benefit program, to assist individuals and families who must allocate a significant portion of...
Finance Canada has announced that it plans to provide a one-time payment of $500 under the Canada Housing Benefit program, to assist individuals and families who must allocate a significant portion of...
Federal government matching program for Atlantic Canada storm relief donations
The federal government has announced that, for a period of 30 days (until October 24, with the possibility of extension), it will match donations made to the Canadian Red Cross for storm relief effort...
The federal government has announced that, for a period of 30 days (until October 24, with the possibility of extension), it will match donations made to the Canadian Red Cross for storm relief effort...
Overall inflation rate down slightly in August
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of August was down slightly. That rate stood at 7.0% (as measured on a year...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of August was down slightly. That rate stood at 7.0% (as measured on a year...
GST/HST tax credit doubled for July to December 2022 period
The federal government provides eligible Canadians with a GST/HST tax credit, with the amount of credit receivable based on family composition, size, and income. For the July 2022 through June 2023 b...
The federal government provides eligible Canadians with a GST/HST tax credit, with the amount of credit receivable based on family composition, size, and income. For the July 2022 through June 2023 b...
Prescribed interest rate for leasing for October 2022
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Unemployment rate increases by 0.5% in August 2022
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of August rose slightly, to 5.4%. Among demographic groups, employment fell among yo...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of August rose slightly, to 5.4%. Among demographic groups, employment fell among yo...
Prescribed interest rates for 2022
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for 2022, as well as the rates that will apply for the purpose of calculating employee ...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for 2022, as well as the rates that will apply for the purpose of calculating employee ...
Bank of Canada raises interest rates again
In its regularly scheduled interest rate announcement made on September 7, the Bank of Canada once again announced an increase in interest rates, bringing the Bank Rate to 3.50%. The most recent chang...
In its regularly scheduled interest rate announcement made on September 7, the Bank of Canada once again announced an increase in interest rates, bringing the Bank Rate to 3.50%. The most recent chang...
CRA issues updated form for requests to reduce employee source deductions
Canadian employees have tax deducted from their income at source – that is, the employer deducts income tax from the employee’s wages and then remits such tax to the federal government on the empl...
Canadian employees have tax deducted from their income at source – that is, the employer deducts income tax from the employee’s wages and then remits such tax to the federal government on the empl...
Third instalment payment for 2022 due September 15
Individual taxpayers who pay income tax by instalment are required to make such payments quarterly. The third instalment payment deadline for the 2022 tax year falls on Thursday September 15, 2022. Mo...
Individual taxpayers who pay income tax by instalment are required to make such payments quarterly. The third instalment payment deadline for the 2022 tax year falls on Thursday September 15, 2022. Mo...
Prescribed rate for leasing for September 2022
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
CRA issues Tax Tip on electronic filing of T2 returns
All Canadian resident corporations, regardless of size, are required to file a T2 corporation income tax return annually. The Canada Revenue Agency (CRA) has issued a Tax Tip for such corporate filers...
All Canadian resident corporations, regardless of size, are required to file a T2 corporation income tax return annually. The Canada Revenue Agency (CRA) has issued a Tax Tip for such corporate filers...
Finance Canada issues details of Tax-Free First Home Savings Account
In this year’s budget, the federal government announced that, beginning in 2023, first-time home buyers would be able to save for a home purchase on a tax-free basis, through the new Tax-Free First ...
In this year’s budget, the federal government announced that, beginning in 2023, first-time home buyers would be able to save for a home purchase on a tax-free basis, through the new Tax-Free First ...
Inflation rate for July down by one-half percentage point
The most release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 7.6%. The comparable rate for Jun...
The most release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 7.6%. The comparable rate for Jun...
CRA issues guides to GST/HST tax credit and Canada Child Benefit for 2022-23
The benefit year for most individual tax credit and benefit programs administered by the Canada Revenue Agency runs from July 1 to the following June 30, and benefit amounts change with each year. The...
The benefit year for most individual tax credit and benefit programs administered by the Canada Revenue Agency runs from July 1 to the following June 30, and benefit amounts change with each year. The...
Unemployment rate for July unchanged
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of July was unchanged, at 4.9%. Employment was down in Ontario and Prince Edward ...
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of July was unchanged, at 4.9%. Employment was down in Ontario and Prince Edward ...
Canada Revenue Agency issues updated guide to Tax Free Savings Accounts
Since 2009 Canadians have been able to save on a tax-sheltered basis through Tax Free Savings Accounts, or TFSAs. While TFSA contributions made are not tax-deductible, investment income earned by cont...
Since 2009 Canadians have been able to save on a tax-sheltered basis through Tax Free Savings Accounts, or TFSAs. While TFSA contributions made are not tax-deductible, investment income earned by cont...
Bank of Canada provides interest rate announcement dates for 2023
The Bank of Canada has released the schedule on which it will make interest rate announcements during the 2023 calendar year. Those announcements will be made on the following dates: January 25, Mar...
The Bank of Canada has released the schedule on which it will make interest rate announcements during the 2023 calendar year. Those announcements will be made on the following dates: January 25, Mar...
Prescribed interest leasing rate for August
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
The prescribed leasing interest rate mandated by the Canada Revenue Agency must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescrib...
Upcoming deadline for payment of third individual instalment for 2022
Canadian individual taxpayers who pay income tax by instalments make such payments four times a year, on prescribed dates. The third such instalment payment for 2022 is due and payable on or before Th...
Canadian individual taxpayers who pay income tax by instalments make such payments four times a year, on prescribed dates. The third such instalment payment for 2022 is due and payable on or before Th...
Canada Child Benefit amounts increase as of July 2022
The Canada Child Benefit is a non-taxable payment made monthly by the federal government to eligible families having children under the age of 18. There are two benefit levels – one for children und...
The Canada Child Benefit is a non-taxable payment made monthly by the federal government to eligible families having children under the age of 18. There are two benefit levels – one for children und...
Inflation rate for June reaches 8.1%
The July release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation reached 8.1% for the month of June, as measured on a year-over-year basis. That 8.1% figure was ...
The July release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation reached 8.1% for the month of June, as measured on a year-over-year basis. That 8.1% figure was ...
Unemployment rate for June down to 4.9%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of June fell by 0.2%, to a new record low of 4.9%. Statistics Canada, howeve...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of June fell by 0.2%, to a new record low of 4.9%. Statistics Canada, howeve...
Bank of Canada increases interest rates by 1 percentage point
In its regularly scheduled interest rate announcement made on July 13, the Bank of Canada increased interest rates by a full percentage point. Consequently, the Bank Rate now stands at 2.75%, the high...
In its regularly scheduled interest rate announcement made on July 13, the Bank of Canada increased interest rates by a full percentage point. Consequently, the Bank Rate now stands at 2.75%, the high...
Application period for business pandemic benefits for 2022 still open
While the remaining pandemic benefit relief programs for businesses ended on May 7, 2022, the application process for such benefits for 2022 is still open. Applications are made and benefits paid sepa...
While the remaining pandemic benefit relief programs for businesses ended on May 7, 2022, the application process for such benefits for 2022 is still open. Applications are made and benefits paid sepa...
Increases to Old Age Security benefits effective July 2022
The federal government has announced that maximum payments under the Old Age Security (OAS) program will increase for the July to September 2022 benefit period. Two changes will take effect as of July...
The federal government has announced that maximum payments under the Old Age Security (OAS) program will increase for the July to September 2022 benefit period. Two changes will take effect as of July...
Maximum permitted borrowings under some mortgage lending products to be reduced
The Office the Superintendent of Financial Institutions (OSFI) has announced that changes will be made with respect to maximum borrowings permitted under some “combined loan plans”. Those products...
The Office the Superintendent of Financial Institutions (OSFI) has announced that changes will be made with respect to maximum borrowings permitted under some “combined loan plans”. Those products...
New federal child and family benefit payment year starts July 1
For many federal tax benefits, including the GST/HST credit, the Canada Child Benefit, the Canada Workers Benefit, and the Climate Action Incentive Payment, the new benefit payment year starts on July...
For many federal tax benefits, including the GST/HST credit, the Canada Child Benefit, the Canada Workers Benefit, and the Climate Action Incentive Payment, the new benefit payment year starts on July...
First Climate Action Incentive payments to be made in July
The federal government provides residents of Ontario, Alberta, Manitoba, and Saskatchewan with a Climate Action Incentive (CAI) intended to help offset the cost of the federal carbon tax. In previous ...
The federal government provides residents of Ontario, Alberta, Manitoba, and Saskatchewan with a Climate Action Incentive (CAI) intended to help offset the cost of the federal carbon tax. In previous ...
Inflation rate for May reaches 7.7%
The overall inflation rate for the month of May, as measured on a year-over-year basis, stood at 7.7% – nearly a full percentage point higher than the 6.8% increase recorded for the month of April 2...
The overall inflation rate for the month of May, as measured on a year-over-year basis, stood at 7.7% – nearly a full percentage point higher than the 6.8% increase recorded for the month of April 2...
Old Age Security rates increase for Canadians over age 75
Effective as of July 1, 2022, the monthly Old Age Security benefit will be increased by 10% for recipients aged 75 and older. Recipients who turn 75 after July 1, 2022 will see the increase in their b...
Effective as of July 1, 2022, the monthly Old Age Security benefit will be increased by 10% for recipients aged 75 and older. Recipients who turn 75 after July 1, 2022 will see the increase in their b...
Unemployment rate reaches historic low of 5.1%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall rate of unemployment for the month of May stood at 5.1% – marking a new record low for the third consecuti...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall rate of unemployment for the month of May stood at 5.1% – marking a new record low for the third consecuti...
Prescribed interest rates for 2022
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2022, as well as the rates that will apply for the purp...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2022, as well as the rates that will apply for the purp...
Upcoming deadline for payment of 2022 individual income tax instalment
Individual taxpayers who pay income tax by instalment are required to make such payments quarterly. The second instalment payment deadline for the 2022 tax year falls on Wednesday June 15, 2022. Most ...
Individual taxpayers who pay income tax by instalment are required to make such payments quarterly. The second instalment payment deadline for the 2022 tax year falls on Wednesday June 15, 2022. Most ...
Upcoming deadline for filing of 2021 returns by self-employed taxpayers
While all individual taxpayers were required to pay any balance of taxes owed for the 2021 tax year on or before April 30, 2022, self-employed taxpayers (and their spouses) benefit from a later tax re...
While all individual taxpayers were required to pay any balance of taxes owed for the 2021 tax year on or before April 30, 2022, self-employed taxpayers (and their spouses) benefit from a later tax re...
Bank of Canada raises interest rates by one-half percent
As anticipated, in its scheduled interest rate announcement made on June 1, the Bank of Canada raised interest rates by another one-half percentage point. This latest change brings the Bank Rate to 1....
As anticipated, in its scheduled interest rate announcement made on June 1, the Bank of Canada raised interest rates by another one-half percentage point. This latest change brings the Bank Rate to 1....
Updated guide issued on Tax-Free Savings Accounts
The Canada Revenue Agency recently updated and re-issued its Guide RC4466 to the Tax-Free Savings Account (TFSA). The updated Guide includes information on determining TFSA contribution room, permitte...
The Canada Revenue Agency recently updated and re-issued its Guide RC4466 to the Tax-Free Savings Account (TFSA). The updated Guide includes information on determining TFSA contribution room, permitte...
CRA provides Tax Tip on correcting errors in a tax return
The CRA has issued a new Tax Tip for tax filers who become aware, after the return has been filed, that their income tax return for 2021 contains an error. In all cases taxpayers should wait until the...
The CRA has issued a new Tax Tip for tax filers who become aware, after the return has been filed, that their income tax return for 2021 contains an error. In all cases taxpayers should wait until the...
CRA issues Notices of Redetermination on CERB overpayments
At the beginning of the pandemic in 2020, more than 8 million Canadians applied for and received the Canada Emergency Response Benefit (CERB). In applying for the CERB, recipients self-assessed their ...
At the beginning of the pandemic in 2020, more than 8 million Canadians applied for and received the Canada Emergency Response Benefit (CERB). In applying for the CERB, recipients self-assessed their ...
Inflation rate for April reaches 6.8%
The most recent release of Statistics Canada’s Consumer Price Survey shows that the overall rate of inflation reached 6.8% for the month of April 2022, as measured on a year-over-year basis. The lar...
The most recent release of Statistics Canada’s Consumer Price Survey shows that the overall rate of inflation reached 6.8% for the month of April 2022, as measured on a year-over-year basis. The lar...
Application process for pandemic benefit programs continues
Most of the pandemic benefit programs which the federal government has provided over the past two years came to an end on May 7, 2022. Notwithstanding the ending of the programs, applications for bene...
Most of the pandemic benefit programs which the federal government has provided over the past two years came to an end on May 7, 2022. Notwithstanding the ending of the programs, applications for bene...
Unemployment rate for April at new record low
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of April stood at 5.2%, down 0.1% from the rate recorded for March 2022. Among demog...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of April stood at 5.2%, down 0.1% from the rate recorded for March 2022. Among demog...
First-time Home Buyers’ tax credit amount doubled
The federal government provides a non-refundable tax credit to first time home buyers (defined as individuals who have not owned and lived in a home in the current year or any of the previous four yea...
The federal government provides a non-refundable tax credit to first time home buyers (defined as individuals who have not owned and lived in a home in the current year or any of the previous four yea...
Inflation rate reaches 30-year high
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of March 2022 (as measured on a year-over-year basis) was the highest such rate sin...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of March 2022 (as measured on a year-over-year basis) was the highest such rate sin...
Pandemic benefit programs for individuals to end on May 7, 2022
Under current legislation, three major pandemic benefit programs for individuals are scheduled to expire on May 7, 2022. The Canada Recovery Sickness Benefit, the Canada Recovery Caregiving Benefit, a...
Under current legislation, three major pandemic benefit programs for individuals are scheduled to expire on May 7, 2022. The Canada Recovery Sickness Benefit, the Canada Recovery Caregiving Benefit, a...
Home accessibility tax credit amount increased
Since 2016, the federal government has provided a non-refundable tax credit for home renovation expenses undertaken to increase accessibility. Individuals eligible for this credit include those who ar...
Since 2016, the federal government has provided a non-refundable tax credit for home renovation expenses undertaken to increase accessibility. Individuals eligible for this credit include those who ar...
CRA issues one-time grant payment to seniors
In some instances, seniors who were eligible for the federal Guaranteed Income Supplement (GIS) and who received pandemic benefits during 2020 saw their GIS benefit amounts reduced or eliminated begin...
In some instances, seniors who were eligible for the federal Guaranteed Income Supplement (GIS) and who received pandemic benefits during 2020 saw their GIS benefit amounts reduced or eliminated begin...
May 2, 2022 payment deadline for income taxes owed for 2021
All Canadian individual taxpayers are required to pay income tax balances owed for 2021 on or before Monday May 2, 2022. Where payment is not made on or before that date, interest will be levied on al...
All Canadian individual taxpayers are required to pay income tax balances owed for 2021 on or before Monday May 2, 2022. Where payment is not made on or before that date, interest will be levied on al...
Unemployment rate for March at record low
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of March stood at 5.3%. That rate is the lowest rate on record since compara...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of March stood at 5.3%. That rate is the lowest rate on record since compara...
Bank of Canada increases interest rates
In its regularly scheduled interest rate announcement made on April 13, the Bank of Canada determined that an increase in interest rates was warranted. Following that increase, the Bank Rate stands at...
In its regularly scheduled interest rate announcement made on April 13, the Bank of Canada determined that an increase in interest rates was warranted. Following that increase, the Bank Rate stands at...
Budget 2022: Taxation of Vaping Products
The proposed federal excise duty framework for vaping products would come into force on October 1, 2022. Retailers may continue to sell until January 1, 2023, unstamped products that are in inventory ...
The proposed federal excise duty framework for vaping products would come into force on October 1, 2022. Retailers may continue to sell until January 1, 2023, unstamped products that are in inventory ...
Budget 2022: GST/HST on Assignment Sales by Individuals
Budget 2022 proposes to amend the Excise Tax Act to make all assignment sales in respect of newly constructed or substantially renovated residential housing taxable for GST/HST purposes....
Budget 2022 proposes to amend the Excise Tax Act to make all assignment sales in respect of newly constructed or substantially renovated residential housing taxable for GST/HST purposes....
Budget 2022: Substantive CCPCs
Budget 2022 proposes targeted amendments to the Income Tax Act to align the taxation of investment income earned and distributed by “substantive CCPCs” with the rules that currently apply to CC...
Budget 2022 proposes targeted amendments to the Income Tax Act to align the taxation of investment income earned and distributed by “substantive CCPCs” with the rules that currently apply to CC...
Budget 2022: Genuine Intergenerational Share Transfers
Budget 2022 announces a consultation process for Canadians to share views as to how the existing rules could be modified to protect the integrity of the tax system while continuing to facilitate genu...
Budget 2022 announces a consultation process for Canadians to share views as to how the existing rules could be modified to protect the integrity of the tax system while continuing to facilitate genu...
Budget 2022: Small Business Deduction
In order to facilitate small business growth, Budget 2022 proposes to extend the range over which the business limit is reduced based on the combined taxable capital employed in Canada of the Canadia...
In order to facilitate small business growth, Budget 2022 proposes to extend the range over which the business limit is reduced based on the combined taxable capital employed in Canada of the Canadia...
Budget 2022: Medical Expense Tax Credit for Surrogacy and Other Expenses
Budget 2022 proposes to broaden the Medical Expense Tax Credit to recognize circumstances that involve medical expenses for individuals other than the intended parents....
Budget 2022 proposes to broaden the Medical Expense Tax Credit to recognize circumstances that involve medical expenses for individuals other than the intended parents....
Budget 2022: Labour Mobility Deduction for Tradespeople
Budget 2022 proposes to introduce a Labour Mobility Deduction for Tradespeople to recognize certain travel and relocation expenses of workers in the construction industry....
Budget 2022 proposes to introduce a Labour Mobility Deduction for Tradespeople to recognize certain travel and relocation expenses of workers in the construction industry....
Budget 2022: Residential Property Flipping Rule
Profits arising from dispositions of residential property (including a rental property) that was owned for less than 12 months would be deemed to be business income....
Profits arising from dispositions of residential property (including a rental property) that was owned for less than 12 months would be deemed to be business income....
Budget 2022: Home Accessibility Tax Credit
Budget 2022 proposes to increase the annual expense limit of the Home Accessibility Tax Credit from $10,000 to $20,000....
Budget 2022 proposes to increase the annual expense limit of the Home Accessibility Tax Credit from $10,000 to $20,000....
Budget 2022: Multigenerational Home Renovation Tax Credit
This new refundable credit would provide recognition of eligible expenses for a qualifying renovation....
This new refundable credit would provide recognition of eligible expenses for a qualifying renovation....
Budget 2022: Home Buyers’ Tax Credit
Budget 2022 proposes to double the Home Buyers’ Tax Credit amount from $5,000 to $10,000, which would provide up to $1,500 in tax relief to eligible home buyers....
Budget 2022 proposes to double the Home Buyers’ Tax Credit amount from $5,000 to $10,000, which would provide up to $1,500 in tax relief to eligible home buyers....
Budget 2022: Tax-Free First Home Savings Account
Budget 2022 proposes to create the Tax-Free First Home Savings Account, a new registered account to help individuals save for their first home....
Budget 2022 proposes to create the Tax-Free First Home Savings Account, a new registered account to help individuals save for their first home....
Increase to Old Age Security benefit for second quarter of 2022
The Old Age Security (OAS) benefit payable to most Canadians over the age of 65 is indexed to inflation, with the benefit being adjusted at the beginning of each calendar quarter. For the second quart...
The Old Age Security (OAS) benefit payable to most Canadians over the age of 65 is indexed to inflation, with the benefit being adjusted at the beginning of each calendar quarter. For the second quart...
Tax tip issued for gig economy workers
Many Canadian taxpayers work in the “gig” economy – holding down part-time, contract, or on-call positions or providing services to clients through online platforms, or some combination of those...
Many Canadian taxpayers work in the “gig” economy – holding down part-time, contract, or on-call positions or providing services to clients through online platforms, or some combination of those...
Unemployment rate for February drops to 5.5%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of February dropped by a full percentage point, from 6.5% to 5.5%. While emp...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of February dropped by a full percentage point, from 6.5% to 5.5%. While emp...
Date announced for 2022-23 federal budget
The Minister of Finance has announced that the federal budget for the upcoming 2022-23 fiscal year will be brought down on Thursday April 7, 2022, at around 4 p.m. The announcement of the budget date ...
The Minister of Finance has announced that the federal budget for the upcoming 2022-23 fiscal year will be brought down on Thursday April 7, 2022, at around 4 p.m. The announcement of the budget date ...
Extended hours for individual tax enquiries line
The Canada Revenue Agency provides an individual tax enquiries line where taxpayers can obtain general tax information, or information specific to their personal taxes. While the individual tax enquir...
The Canada Revenue Agency provides an individual tax enquiries line where taxpayers can obtain general tax information, or information specific to their personal taxes. While the individual tax enquir...
Reporting of income from digital transactions
Millions of Canadians earn money each year from online or digital sales transactions, often through platforms like Etsy or eBay. The Canada Revenue Agency recently issued a Tax Tip, reminding taxpayer...
Millions of Canadians earn money each year from online or digital sales transactions, often through platforms like Etsy or eBay. The Canada Revenue Agency recently issued a Tax Tip, reminding taxpayer...
Prescribed interest rates for 2022
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2022, as well as the rates that will apply for the purpose of cal...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2022, as well as the rates that will apply for the purpose of cal...
Inflation rate for February reaches 5.7%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of February 2022 reached 5.7% (as measured on a year-over-year basis), t...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of February 2022 reached 5.7% (as measured on a year-over-year basis), t...
CRA issues guide to claiming employment expenses for 2021
Canadian individual taxpayers can claim a deduction for a number of expenses which they incur in the course of their employment. For 2021, those deductible expenses can include a flat rate deduction f...
Canadian individual taxpayers can claim a deduction for a number of expenses which they incur in the course of their employment. For 2021, those deductible expenses can include a flat rate deduction f...
NETFILE hours of service
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2017, 2018, 2019, 2020 and 2021 tax years is available 21 hours each day. The hours of servi...
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2017, 2018, 2019, 2020 and 2021 tax years is available 21 hours each day. The hours of servi...
NETFILE service for filing of 2021 tax returns now open
Canadian individual taxpayers can now file their income tax returns for the 2021 tax year using the Canada Revenue Agency’s (CRA) NETFILE tax service. That service, which will be available until Fri...
Canadian individual taxpayers can now file their income tax returns for the 2021 tax year using the Canada Revenue Agency’s (CRA) NETFILE tax service. That service, which will be available until Fri...
Bank of Canada increases interest rates
In its regularly scheduled interest rate announcement made on March 2 the Bank of Canada, as expected, announced an increase to interest rates. Specifically, the Bank Rate has been increased from 0.50...
In its regularly scheduled interest rate announcement made on March 2 the Bank of Canada, as expected, announced an increase to interest rates. Specifically, the Bank Rate has been increased from 0.50...
Federal individual tax credits for 2022
Dollar amounts on which individual non-refundable federal tax credits for 2022 are based, and the actual tax credit claimable, will be as follows: ...
Dollar amounts on which individual non-refundable federal tax credits for 2022 are based, and the actual tax credit claimable, will be as follows: ...
Federal individual tax rates and brackets for 2022
The indexing factor for federal tax credits and brackets for 2022 is 2.4%. The following federal tax rates and brackets will be in effect for individuals for the 2022 tax year. Income level ...
The indexing factor for federal tax credits and brackets for 2022 is 2.4%. The following federal tax rates and brackets will be in effect for individuals for the 2022 tax year. Income level ...
CRA issues Tax Tip for employees working from home
During the 2021 tax year, many employees continued to work from home for pandemic-related reasons. Such employees may be eligible to claim a deduction for specified home office related expenses incurr...
During the 2021 tax year, many employees continued to work from home for pandemic-related reasons. Such employees may be eligible to claim a deduction for specified home office related expenses incurr...
Inflation rate for January 2022 reaches 5.1%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of January 2022 stood at 5.1%, as measured on a year-over-year basis. The last prev...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of January 2022 stood at 5.1%, as measured on a year-over-year basis. The last prev...
CRA issues guide to claiming medical expenses for 2021
Canadian individual taxpayers are entitled to claim a non-refundable tax credit for qualifying medical expenses incurred. Detailed information on the rules governing the types of expenses which qualif...
Canadian individual taxpayers are entitled to claim a non-refundable tax credit for qualifying medical expenses incurred. Detailed information on the rules governing the types of expenses which qualif...
Unemployment rate up slightly in January
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate rose slightly during the month of January, from 6% to 6.5%. The change marked the first su...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate rose slightly during the month of January, from 6% to 6.5%. The change marked the first su...
CRA issues Tax Tip for students for 2021 return filings
Post-secondary students filing a return for the 2021 tax year are entitled to claim a number of tax credits and deductions for education-related expenses which they incur, in addition to the credits a...
Post-secondary students filing a return for the 2021 tax year are entitled to claim a number of tax credits and deductions for education-related expenses which they incur, in addition to the credits a...
NETFILE service for 2021 individual tax returns available February 21
The Canada Revenue Agency (CRA) has announced that its NETFILE service for online filing of individual income tax returns for the 2021 tax year will be available on Monday February 21, 2022. In order ...
The Canada Revenue Agency (CRA) has announced that its NETFILE service for online filing of individual income tax returns for the 2021 tax year will be available on Monday February 21, 2022. In order ...
Inflation rate reaches 4.8% for December 2021
The January release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of December 2021 (as measured on a year-over-year basis) reached 4.8%. While pr...
The January release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of December 2021 (as measured on a year-over-year basis) reached 4.8%. While pr...
Bank of Canada maintains interest rates … for now
In its regularly scheduled interest rate announcement made on January 26, the Bank of Canada indicated that, in its view, no change to current rates was needed. Consequently, the Bank Rate remains at ...
In its regularly scheduled interest rate announcement made on January 26, the Bank of Canada indicated that, in its view, no change to current rates was needed. Consequently, the Bank Rate remains at ...
CRA issues Tax Tip for paper filers of 2021 tax return
Taxpayers who filed their income tax return on paper last year will automatically receive the 2021 income tax package from the Canada Revenue Agency (CRA) by February 21, 2022. The package taxpayers w...
Taxpayers who filed their income tax return on paper last year will automatically receive the 2021 income tax package from the Canada Revenue Agency (CRA) by February 21, 2022. The package taxpayers w...
CRA issues automobile expense deduction limits for 2022
The Canada Revenue Agency (CRA) has announced the automobile expense deduction limits which will apply during the 2022 taxation year. Owing to increases in the Consumer Price Index, most such limits h...
The Canada Revenue Agency (CRA) has announced the automobile expense deduction limits which will apply during the 2022 taxation year. Owing to increases in the Consumer Price Index, most such limits h...
Income tax return forms for 2021 available on January 18, 2022
The Canada Revenue Agency (CRA) has announced that individual (T1) income tax return forms for the 2021 tax year will be available on the Agency’s website on January 18, 2022. Such returns must be f...
The Canada Revenue Agency (CRA) has announced that individual (T1) income tax return forms for the 2021 tax year will be available on the Agency’s website on January 18, 2022. Such returns must be f...
Access to Canada Worker Lockdown Benefit expanded
In October 2021, the federal government announced the creation of a new pandemic benefit, the Canada Worker Lockdown Benefit (CWLB), which was intended to be provided to workers affected by regional p...
In October 2021, the federal government announced the creation of a new pandemic benefit, the Canada Worker Lockdown Benefit (CWLB), which was intended to be provided to workers affected by regional p...
Old Age Security rates for first quarter of 2022
The amount of Old Age Security (OAS) benefit paid to eligible Canadians is adjusted each quarter to take account of increases in the Consumer Price Index. Based on recent increases to the Consumer Pri...
The amount of Old Age Security (OAS) benefit paid to eligible Canadians is adjusted each quarter to take account of increases in the Consumer Price Index. Based on recent increases to the Consumer Pri...
Prescribed interest rates for 2022
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2022, as well as the rates that will apply for the purpose ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2022, as well as the rates that will apply for the purpose ...
Canada Revenue Agency issues TD1 Form for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by all Canadian resident employees for the 2022 tax year. On the TD1 form, the employee indicates the federal personal tax credit amo...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by all Canadian resident employees for the 2022 tax year. On the TD1 form, the employee indicates the federal personal tax credit amo...
December 31 deadline for final RRSP contributions
Canadian taxpayers who have a registered retirement savings plan (RRSP) must collapse that RRSP by the end of the year in which the taxpayer turns 71. Such taxpayers are entitled to make a final RRSP ...
Canadian taxpayers who have a registered retirement savings plan (RRSP) must collapse that RRSP by the end of the year in which the taxpayer turns 71. Such taxpayers are entitled to make a final RRSP ...
Small Business Air Quality Improvement Tax Credit introduced
As part of the Economic and Fiscal Update, the federal government announced that small businesses would be provided with a refundable Small Businesses Air Quality Improvement Tax Credit. That credit, ...
As part of the Economic and Fiscal Update, the federal government announced that small businesses would be provided with a refundable Small Businesses Air Quality Improvement Tax Credit. That credit, ...
Changes to home office expense deduction extended through 2022
As part of pandemic relief measures, changes were made to the existing home office expense deduction for employees. Those changes, which were for the 2020 tax year only, allowed employees to use a fla...
As part of pandemic relief measures, changes were made to the existing home office expense deduction for employees. Those changes, which were for the 2020 tax year only, allowed employees to use a fla...
Final individual tax instalment for 2021 payable by December 15
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2021 tax year must be mad...
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The fourth and final instalment payment for the 2021 tax year must be mad...
Economic and Fiscal Update to be delivered on December 14, 2021
The 2021 Economic and Fiscal Update will be delivered by the Minister of Finance on Tuesday, December 14 at around 4 p.m. The update is expected to include information on the current state of the Cana...
The 2021 Economic and Fiscal Update will be delivered by the Minister of Finance on Tuesday, December 14 at around 4 p.m. The update is expected to include information on the current state of the Cana...
Prescribed interest leasing rate for January 2022
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Taxpayer relief for Canadians affected by extreme weather events
The Canada Revenue Agency (CRA) has posted a Tax Tip on its website reminding individuals who have been affected by the recent extreme weather events of the availability of the Taxpayer Relief Program...
The Canada Revenue Agency (CRA) has posted a Tax Tip on its website reminding individuals who have been affected by the recent extreme weather events of the availability of the Taxpayer Relief Program...
Upcoming deadline for final individual income tax instalment for 2021
The fourth and final income tax instalment payment deadline for individuals for 2021 falls on Wednesday December 15. Taxpayers who pay income tax by instalment will have received an Instalment Reminde...
The fourth and final income tax instalment payment deadline for individuals for 2021 falls on Wednesday December 15. Taxpayers who pay income tax by instalment will have received an Instalment Reminde...
Canada Revenue Agency issues income tax guide for students for 2021
The Canada Revenue Agency (CRA) publishes a guide for post-secondary students which outlines the tax treatment of the types of income and expenses (like scholarship income and tuition expenses) which ...
The Canada Revenue Agency (CRA) publishes a guide for post-secondary students which outlines the tax treatment of the types of income and expenses (like scholarship income and tuition expenses) which ...
Canada Revenue Agency announces individual tax brackets and credit amounts for 2022
The Canada Revenue Agency (CRA) has released the indexing factor which will apply for purposes of determining individual income tax brackets and non-refundable tax credits for 2022. That indexing fact...
The Canada Revenue Agency (CRA) has released the indexing factor which will apply for purposes of determining individual income tax brackets and non-refundable tax credits for 2022. That indexing fact...
Inflation rate for October reaches 4.7%
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows that during the month of October inflation rose by 4.7%, as measured on a year-over-year basis. That increase marked t...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows that during the month of October inflation rose by 4.7%, as measured on a year-over-year basis. That increase marked t...
Unemployment rate down slightly in October
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined slightly during the month of October, from 6.9% to 6.7%. Employment held steady f...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined slightly during the month of October, from 6.9% to 6.7%. Employment held steady f...
Employment insurance premium rates for 2022
The federal government has announced the premium rates and amounts which will apply for purposes of the Employment Insurance program during the 2022 calendar year. For 2022, maximum insurable earnings...
The federal government has announced the premium rates and amounts which will apply for purposes of the Employment Insurance program during the 2022 calendar year. For 2022, maximum insurable earnings...
Prescribed leasing interest rate for December 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Canada Pension Plan contribution amounts for 2022
The Canada Revenue Agency (CRA) has released the contribution rates and amounts which will apply with respect to the Canada Pension Plan (CPP) during the 2022 calendar year. For 2022, the employer and...
The Canada Revenue Agency (CRA) has released the contribution rates and amounts which will apply with respect to the Canada Pension Plan (CPP) during the 2022 calendar year. For 2022, the employer and...
Bank of Canada maintains interest rate at current levels
In its regularly scheduled interest rate announcement made on October 27, the Bank of Canada indicated that, in its view, no change was required to current interest rates. Accordingly, the Bank Rate r...
In its regularly scheduled interest rate announcement made on October 27, the Bank of Canada indicated that, in its view, no change was required to current interest rates. Accordingly, the Bank Rate r...
Inflation rate for September up by 4.4%
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation, as measured on a year-over-year basis, rose by 4.4% during the month of September. The compa...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation, as measured on a year-over-year basis, rose by 4.4% during the month of September. The compa...
Prescribed leasing rate for November 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Enhanced security measures introduced for online representatives
The Canada Revenue Agency (CRA) has announced that new security measures have been made available with respect to the authorization of online representatives by taxpayers. Generally, representatives a...
The Canada Revenue Agency (CRA) has announced that new security measures have been made available with respect to the authorization of online representatives by taxpayers. Generally, representatives a...
Pandemic benefit programs ending October 23, 2021
The federal government currently provides a range of pandemic benefit programs, for both individuals and businesses, and a number of those programs are scheduled to end on Saturday October 23, 2021. H...
The federal government currently provides a range of pandemic benefit programs, for both individuals and businesses, and a number of those programs are scheduled to end on Saturday October 23, 2021. H...
Employment returns to pre-pandemic levels in September
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined during the month of September, by 0.2 percentage points. The September unemployme...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate declined during the month of September, by 0.2 percentage points. The September unemployme...
Employment Insurance premium rates for 2022 released
The federal government has announced the premium rates and amounts which will apply for purposes of Employment Insurance during the 2022 calendar year. The contribution rates for both employers and em...
The federal government has announced the premium rates and amounts which will apply for purposes of Employment Insurance during the 2022 calendar year. The contribution rates for both employers and em...
Old Age Security rates for fourth quarter of 2021
The amount of Old Age Security (OAS) benefit paid to eligible Canadians is adjusted each quarter to take account of increases in the Consumer Price Index. Based on recent increases to the CPI, the fed...
The amount of Old Age Security (OAS) benefit paid to eligible Canadians is adjusted each quarter to take account of increases in the Consumer Price Index. Based on recent increases to the CPI, the fed...
Final payment of CCB young child supplement to be issued in October
In the 2020 Fall Economic Statement, the federal government announced that, as part of its pandemic relief measures, an additional amount would be paid during 2021 to qualifying families who were elig...
In the 2020 Fall Economic Statement, the federal government announced that, as part of its pandemic relief measures, an additional amount would be paid during 2021 to qualifying families who were elig...
Prescribed interest rates for 2021
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for 2021, as well as the rates that will apply for the purpose of calculating employ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for 2021, as well as the rates that will apply for the purpose of calculating employ...
Pandemic relief programs ending in October 2021
A number of pandemic relief benefit programs provided to individual Canadians are currently scheduled to end as of October 23, 2021. Those programs are as follows: Canada Recovery Benefit Canada Reco...
A number of pandemic relief benefit programs provided to individual Canadians are currently scheduled to end as of October 23, 2021. Those programs are as follows: Canada Recovery Benefit Canada Reco...
Inflation rate up sharply in August
The latest release of Statistics Canada’s Consumer Price Index shows that the rate of inflation, as measured on a year-over-year basis, rose by 4.1% during the month of August, as compared to the 3....
The latest release of Statistics Canada’s Consumer Price Index shows that the rate of inflation, as measured on a year-over-year basis, rose by 4.1% during the month of August, as compared to the 3....
Unemployment rate down slightly in August
The most recent release of Statistics Canada’s Labour Force Survey shows a decline in the overall unemployment rate during the month of August. During that month, the rate declined by 0.4%, to 7.1%....
The most recent release of Statistics Canada’s Labour Force Survey shows a decline in the overall unemployment rate during the month of August. During that month, the rate declined by 0.4%, to 7.1%....
Prescribed leasing rate for October 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Upcoming deadline for third instalment payment of 2021
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The third of those deadlines falls on Wednesday September 15, 2021. Taxpa...
Individual taxpayers who pay income tax for the year through instalment payments do so by four prescribed deadlines each year. The third of those deadlines falls on Wednesday September 15, 2021. Taxpa...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on September 8, the Bank of Canada (the “Bank”) indicated that, in its view, no change to current rates was needed. Accordingly, the Bank...
In its regularly scheduled interest rate announcement made on September 8, the Bank of Canada (the “Bank”) indicated that, in its view, no change to current rates was needed. Accordingly, the Bank...
Bank of Canada releases schedule of interest rate announcement dates for 2022
Each year, on pre-announced dates, the Bank of Canada releases its decision on any changes to current interest rates. The Bank recently issued a listing of the dates on which such interest rate announ...
Each year, on pre-announced dates, the Bank of Canada releases its decision on any changes to current interest rates. The Bank recently issued a listing of the dates on which such interest rate announ...
CRA issues guide to GST/HST credit for 2021/22
The benefit year for many federal tax credits, including the GST/HST tax credit, runs from July 1 to June 30 of the following year. Each year, credit amounts change, as do the income thresholds which ...
The benefit year for many federal tax credits, including the GST/HST tax credit, runs from July 1 to June 30 of the following year. Each year, credit amounts change, as do the income thresholds which ...
CRA issues warning on Canada Emergency Wage Subsidy tax scams
In July of this year, the federal government announced that the Canada Emergency Wage Subsidy (CEWS) program would be extended to be available to employers until October 2021. The Canada Revenue Agenc...
In July of this year, the federal government announced that the Canada Emergency Wage Subsidy (CEWS) program would be extended to be available to employers until October 2021. The Canada Revenue Agenc...
Federal government launches consultation process on luxury tax
This year’s federal Budget included a proposal for a “luxury tax” which would apply, at varying rates, to sales of specified goods over a prescribed price threshold. The proposal indicated that ...
This year’s federal Budget included a proposal for a “luxury tax” which would apply, at varying rates, to sales of specified goods over a prescribed price threshold. The proposal indicated that ...
CRA issues guidelines on qualifying SR&ED activities
The Canadian tax system provides credits and incentives for taxpayers who carry out qualifying scientific research and experimental development (SR&ED) work. When claims are made for such credit a...
The Canadian tax system provides credits and incentives for taxpayers who carry out qualifying scientific research and experimental development (SR&ED) work. When claims are made for such credit a...
Inflation rate increases in July 2021
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 3.7%. The comparable rate ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 3.7%. The comparable rate ...
Prescribed leasing rate for September 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Upcoming deadline for payment of individual income tax instalment
Individual taxpayers who pay income tax by instalments must make the third instalment payment of the year on or before Wednesday September 15, 2021. Such taxpayers should receive an Instalment Reminde...
Individual taxpayers who pay income tax by instalments must make the third instalment payment of the year on or before Wednesday September 15, 2021. Such taxpayers should receive an Instalment Reminde...
Inflation rate for June at 3.1%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of June, as measured on a year-over-year basis, reached 3.1%. That rate was slightl...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of June, as measured on a year-over-year basis, reached 3.1%. That rate was slightl...
Federal government extends availability period for pandemic benefits
The federal government has announced that a number of pandemic relief benefit programs, for both businesses and individuals, have been extended. The changes announced are as follows. The eligibility p...
The federal government has announced that a number of pandemic relief benefit programs, for both businesses and individuals, have been extended. The changes announced are as follows. The eligibility p...
Eligibility criteria for Canada Workers Benefit expanded
The federal government administers the Canada Workers Benefit (CWB), a refundable tax credit which supplements income amounts for lower-income working Canadians. The annual benefit amount is $1,400 fo...
The federal government administers the Canada Workers Benefit (CWB), a refundable tax credit which supplements income amounts for lower-income working Canadians. The annual benefit amount is $1,400 fo...
Prescribed leasing interest rate for August 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
One-time Old Age Security supplement to be paid in mid-August
As announced in this year’s federal Budget, some recipients of Old Age Security will receive a one-time supplement, to be paid in August 2021. During that month, OAS recipients who were born on or b...
As announced in this year’s federal Budget, some recipients of Old Age Security will receive a one-time supplement, to be paid in August 2021. During that month, OAS recipients who were born on or b...
Canada Child Benefit increase effective July 2021
The current benefit year for the Canada Child Benefit runs from July 1, 2021 to June 30, 2022. The federal government recently announced that Child Tax Benefit amounts for this benefit year have been ...
The current benefit year for the Canada Child Benefit runs from July 1, 2021 to June 30, 2022. The federal government recently announced that Child Tax Benefit amounts for this benefit year have been ...
Unemployment rate for June 2021 down to 7.8%
The most recent release of Statistics Canada’s Labour Force Survey shows a rebound in employment, as pandemic-related public health restrictions were eased in several provinces. For the month of Jun...
The most recent release of Statistics Canada’s Labour Force Survey shows a rebound in employment, as pandemic-related public health restrictions were eased in several provinces. For the month of Jun...
Bank of Canada leaves interest rates at current levels
In its regularly scheduled interest rate announcement made on July 14, the Bank of Canada indicated that, in its view, no change to current rates was required. Accordingly, the Bank Rate remains at 0....
In its regularly scheduled interest rate announcement made on July 14, the Bank of Canada indicated that, in its view, no change to current rates was required. Accordingly, the Bank Rate remains at 0....
Old Age Security benefit to increase for third quarter of 2021
The Old Age Security benefit administered by the federal government is adjusted quarterly to reflect the rate of inflation. The federal government has announced that the maximum basic OAS benefit paya...
The Old Age Security benefit administered by the federal government is adjusted quarterly to reflect the rate of inflation. The federal government has announced that the maximum basic OAS benefit paya...
Prescribed interest rates for 2021
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2021, as well as the rates that will apply for the p...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2021, as well as the rates that will apply for the p...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on June 9, 2021, the Bank of Canada determined that, in its view, no change to current rates was needed. Accordingly, the Bank rate remains a...
In its regularly scheduled interest rate announcement made on June 9, 2021, the Bank of Canada determined that, in its view, no change to current rates was needed. Accordingly, the Bank rate remains a...
Prescribed interest rates for 2021
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2021, as well as the rates that will apply for the p...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2021, as well as the rates that will apply for the p...
Prescribed leasing interest rate for July 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
June 30, 2021 filing deadline for calendar-year companies
Canadian companies are required to file their federal income tax returns within 6 months after their fiscal year end. Consequently, companies which had a calendar year end on December 31, 2020 must fi...
Canadian companies are required to file their federal income tax returns within 6 months after their fiscal year end. Consequently, companies which had a calendar year end on December 31, 2020 must fi...
Unemployment rate for May up slightly
While there was little change in the overall unemployment rate for the month of May, employment did fall by 68,000 positions, most of those in part-time work. The overall unemployment rate for the mon...
While there was little change in the overall unemployment rate for the month of May, employment did fall by 68,000 positions, most of those in part-time work. The overall unemployment rate for the mon...
Inflation rate for May up by 3.6%
The most recent release of Statistics Canada’s Consumer Price Index shows an increase of 3.6% increase in the rate of inflation for the month of May, as measured on a year-over-year basis. The comp...
The most recent release of Statistics Canada’s Consumer Price Index shows an increase of 3.6% increase in the rate of inflation for the month of May, as measured on a year-over-year basis. The comp...
Upcoming 2021 individual income tax instalment payment deadline
For individuals who pay income tax through quarterly instalments, the second instalment payment deadline for the year is Tuesday June 15, 2021. Information on the instalment payment system, including ...
For individuals who pay income tax through quarterly instalments, the second instalment payment deadline for the year is Tuesday June 15, 2021. Information on the instalment payment system, including ...
June 15, 2021 income tax filing deadline for self-employed individuals
The filing deadline for income tax returns for the 2020 tax year for self-employed individuals and their spouses is Tuesday June 15, 2021. Information on that filing deadline and on available filing m...
The filing deadline for income tax returns for the 2020 tax year for self-employed individuals and their spouses is Tuesday June 15, 2021. Information on that filing deadline and on available filing m...
Prescribed leasing interest rate for June 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
CRA announces details of refund of CERB repayments to self-employed taxpayers
In 2020, some self-employed Canadians received Canada Emergency Relief Benefits (CERB) to which they were not entitled, as the result of erroneous information provided by the federal government, and t...
In 2020, some self-employed Canadians received Canada Emergency Relief Benefits (CERB) to which they were not entitled, as the result of erroneous information provided by the federal government, and t...
CRA issues Tax Tip on how to change a tax return
The Canada Revenue Agency (CRA) has posted a Tax Tip on its website outlining the several methods taxpayers can use to make a change, or correct an error, on an already-filed return. Requests for chan...
The Canada Revenue Agency (CRA) has posted a Tax Tip on its website outlining the several methods taxpayers can use to make a change, or correct an error, on an already-filed return. Requests for chan...
Payments of Canada Child Benefit young child supplement to begin May 28
Last year, the federal government announced that families who are eligible for the Canada Child Benefit in 2021 and have a child or children under the age of six could receive a supplement — the Can...
Last year, the federal government announced that families who are eligible for the Canada Child Benefit in 2021 and have a child or children under the age of six could receive a supplement — the Can...
Inflation rate for April up by 3.4%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of April 2021 was up by 3.4%, as measured on a year-over-year basis. Statistics Can...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of April 2021 was up by 3.4%, as measured on a year-over-year basis. Statistics Can...
CRA issues warning on TFSA “maximizer” tax scheme
The Canada Revenue Agency (CRA) has issued a warning to taxpayers with respect to a tax scheme currently being promoted, typically to homeowners who have significant equity in their homes and substant...
The Canada Revenue Agency (CRA) has issued a warning to taxpayers with respect to a tax scheme currently being promoted, typically to homeowners who have significant equity in their homes and substant...
CRA issues updated application form for Taxpayer Relief program
Taxpayers who are unable to file their returns or make payment of taxes owed on a timely basis for reasons outside their control (including financial hardship) can apply, under the Taxpayer Relief Pro...
Taxpayers who are unable to file their returns or make payment of taxes owed on a timely basis for reasons outside their control (including financial hardship) can apply, under the Taxpayer Relief Pro...
April unemployment rate increases to 8.1%
The most recent release of Statistics Canada’s Labour Force Survey shows an increase in the rate of unemployment during the month of April 2021. That rate, as measured on a year-over-year basis, ros...
The most recent release of Statistics Canada’s Labour Force Survey shows an increase in the rate of unemployment during the month of April 2021. That rate, as measured on a year-over-year basis, ros...
Inflation up by 2.2% for March 2021
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of March 2021 was 2.2%, as measured on a year-over-year basis. While the monthly in...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of March 2021 was 2.2%, as measured on a year-over-year basis. While the monthly in...
Prescribed interest rate for leasing May 2021
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on April 21, the Bank of Canada indicated that, in its view, no change to current rates was warranted. Accordingly, the Bank Rate remains at ...
In its regularly scheduled interest rate announcement made on April 21, the Bank of Canada indicated that, in its view, no change to current rates was warranted. Accordingly, the Bank Rate remains at ...
Payments of 2020 individual income tax due Friday April 30, 2021
The deadline for payment of all individual income tax amounts owed for the 2020 tax year is Friday, April 30, 2021. For most individuals (other than self-employed taxpayers and their spouses), April 3...
The deadline for payment of all individual income tax amounts owed for the 2020 tax year is Friday, April 30, 2021. For most individuals (other than self-employed taxpayers and their spouses), April 3...
Budget 2021: Anti-avoidance rules and taxpayer disclosure
The Budget includes proposals to address perceived anti-avoidance activity and failures by taxpayers to comply with transaction reporting rules. To address the issue of failure to report, the governme...
The Budget includes proposals to address perceived anti-avoidance activity and failures by taxpayers to comply with transaction reporting rules. To address the issue of failure to report, the governme...
Budget 2021: Film and television production tax credits
The federal government provides two tax credit programs for the film and television industry. The Canadian Film or Video Production Tax Credit (CPTC) provides a 25% refundable tax credit on qualified ...
The federal government provides two tax credit programs for the film and television industry. The Canadian Film or Video Production Tax Credit (CPTC) provides a 25% refundable tax credit on qualified ...
Budget 2021: Business pandemic support programs to be extended
In the Budget, the federal government announced that the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy, and the Lockdown Support programs, which are currently scheduled to expire on...
In the Budget, the federal government announced that the Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy, and the Lockdown Support programs, which are currently scheduled to expire on...
Budget 2021: Additional clean energy assets eligible for accelerated capital cost allowance
Under Canada’s capital cost allowance (CCA) system, an asset is written off over a period of years, at a prescribed percentage rate per year, based on the useful life of that asset. Acquisitions of ...
Under Canada’s capital cost allowance (CCA) system, an asset is written off over a period of years, at a prescribed percentage rate per year, based on the useful life of that asset. Acquisitions of ...
Budget 2021: Tax rate reductions provided for zero-emission technology manufacturers
The Budget includes a proposal for a temporary measure to reduce corporate income tax rates for qualifying zero-emission technology manufacturers. Specifically, taxpayers would be able to apply reduce...
The Budget includes a proposal for a temporary measure to reduce corporate income tax rates for qualifying zero-emission technology manufacturers. Specifically, taxpayers would be able to apply reduce...
Budget 2021: “Immediate expensing” of asset acquisition costs by CCPCs
Under Canadian tax rules, companies which acquire capital assets are required to deduct, or write off, the cost of those assets over a period of years, under the rules provided in the Capital Cost All...
Under Canadian tax rules, companies which acquire capital assets are required to deduct, or write off, the cost of those assets over a period of years, under the rules provided in the Capital Cost All...
Budget 2021: Canada Recovery Hiring Program to be introduced
The federal Budget includes a proposal for a Canada Recovery Hiring Program. That program will provide eligible employers with a subsidy of up to 50% on the incremental remuneration paid to eligible e...
The federal Budget includes a proposal for a Canada Recovery Hiring Program. That program will provide eligible employers with a subsidy of up to 50% on the incremental remuneration paid to eligible e...
Budget 2021: Repayment of Wage Subsidy to be required in some circumstances
The Budget papers provide that public corporations which received the Canada Emergency Wage Subsidy will, in some instances, be required to repay part or all of that subsidy. Specifically, where the t...
The Budget papers provide that public corporations which received the Canada Emergency Wage Subsidy will, in some instances, be required to repay part or all of that subsidy. Specifically, where the t...
Budget 2021: Electronic Filing and Payment Requirements
Current rules provide that tax preparers and filers of information returns who file more than a prescribed number of returns each year must file such returns electronically. Those rules will be amende...
Current rules provide that tax preparers and filers of information returns who file more than a prescribed number of returns each year must file such returns electronically. Those rules will be amende...
Budget 2021: Electronic communication with the CRA
Changes are proposed to the rules to increase the ability of the Canada Revenue Agency (CRA) to communicate with taxpayers electronically, without the taxpayer having to authorize the CRA to do so. Ge...
Changes are proposed to the rules to increase the ability of the Canada Revenue Agency (CRA) to communicate with taxpayers electronically, without the taxpayer having to authorize the CRA to do so. Ge...
Budget 2021: Changes to rules affecting registered charities
The Canada Revenue Agency has the authority to revoke the charitable registration status of an organization where that organization fails to fulfill its legal obligations. The rules governing such rev...
The Canada Revenue Agency has the authority to revoke the charitable registration status of an organization where that organization fails to fulfill its legal obligations. The rules governing such rev...
Budget 2021: Tax treatment of pandemic benefit repayments
Millions of Canadian taxpayers received pandemic benefits during the 2020 taxation year. While most such recipients were entitled to those benefits, there were instances in which the benefits were pai...
Millions of Canadian taxpayers received pandemic benefits during the 2020 taxation year. While most such recipients were entitled to those benefits, there were instances in which the benefits were pai...
Budget 2021: Tax treatment of postdoctoral fellowship income
Postdoctoral fellows are generally not, for purposes of the income tax system, considered to be students. Consequently, postdoctoral fellowship income does not qualify for the exemption generally prov...
Postdoctoral fellows are generally not, for purposes of the income tax system, considered to be students. Consequently, postdoctoral fellowship income does not qualify for the exemption generally prov...
Budget 2021: Northern residents deductions
Canadians who live in prescribed northern areas of Canada for at least six consecutive months in a year are eligible for the Northern residents deduction. That deduction has both a residency component...
Canadians who live in prescribed northern areas of Canada for at least six consecutive months in a year are eligible for the Northern residents deduction. That deduction has both a residency component...
Budget 2021: Canada Workers’ Benefit increased
The Canada Workers’ Benefit (CWB) is a non-taxable refundable tax credit that supplements the earnings of low-income and medium-income workers. The CWB, which is generally available to workers who e...
The Canada Workers’ Benefit (CWB) is a non-taxable refundable tax credit that supplements the earnings of low-income and medium-income workers. The CWB, which is generally available to workers who e...
Budget 2021: Eligibility criteria for disability tax credit expanded
The federal government provides qualifying individuals with a disability tax credit (DTC) which reduces federal tax otherwise payable. For 2021, the value of the DTC is $1,299. To qualify for the DTC,...
The federal government provides qualifying individuals with a disability tax credit (DTC) which reduces federal tax otherwise payable. For 2021, the value of the DTC is $1,299. To qualify for the DTC,...
CRA provides guidance on changes to the 2020 tax return
The tax return completed by individual Canadians changes from one year to the next, as tax credits or deductions are introduced, eliminated, or changed, or reporting requirements are altered. The Cana...
The tax return completed by individual Canadians changes from one year to the next, as tax credits or deductions are introduced, eliminated, or changed, or reporting requirements are altered. The Cana...
April 30, 2021 deadline for filing of most individual income tax returns for 2020
The filing deadline for most individual income tax returns for the 2020 taxation year is Friday, April 30, 2021. Self-employed individuals and their spouses are not required to file their returns unti...
The filing deadline for most individual income tax returns for the 2020 taxation year is Friday, April 30, 2021. Self-employed individuals and their spouses are not required to file their returns unti...
April 30, 2021 deadline for payment of 2020 individual income tax owed
Last year, the federal government provided a deferral of the payment deadline for individual income taxes owed. No such deferral is allowed for this year, meaning that any balance of individual income...
Last year, the federal government provided a deferral of the payment deadline for individual income taxes owed. No such deferral is allowed for this year, meaning that any balance of individual income...
Federal government extends benefit period for Canada Recovery Sickness Benefit
The federal government, through the Canada Recovery Sickness Benefit, provides a weekly benefit of $500 to qualifying individual Canadians who are unable to work because they are sick or need to self-...
The federal government, through the Canada Recovery Sickness Benefit, provides a weekly benefit of $500 to qualifying individual Canadians who are unable to work because they are sick or need to self-...
CRA issues guidance on 2020 tax consequences of home sales, purchases, and renovations
While gains made on a sale of a principal residence in Canada are generally tax exempt, there are reporting requirements imposed on such sales. In addition, certain tax credits may be claimed by home ...
While gains made on a sale of a principal residence in Canada are generally tax exempt, there are reporting requirements imposed on such sales. In addition, certain tax credits may be claimed by home ...
Prescribed interest rates for 2021
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first half of 2021, as well as the rates that will apply for the purpose of ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first half of 2021, as well as the rates that will apply for the purpose of ...
Inflation rate for February up slightly
The most recent release of Statistics Canada’s Consumer Price Index shows a slight increase in the rate of inflation for the month of February 2021. That rate stood at 1.1%, as compared to the rate ...
The most recent release of Statistics Canada’s Consumer Price Index shows a slight increase in the rate of inflation for the month of February 2021. That rate stood at 1.1%, as compared to the rate ...
Federal Budget 2021-22 to be brought down in April
The Minister of Finance has announced that the federal Budget for the upcoming 2021-22 fiscal year will be delivered on Monday April 19, 2021. This year’s Budget will be the first one delivered sinc...
The Minister of Finance has announced that the federal Budget for the upcoming 2021-22 fiscal year will be delivered on Monday April 19, 2021. This year’s Budget will be the first one delivered sinc...
Canada Revenue Agency locks down individual online tax accounts
Over the past month, the Canada Revenue Agency (CRA) identified a large number of individual taxpayer online accounts for which user IDs and passwords had been obtained by unauthorized third parties. ...
Over the past month, the Canada Revenue Agency (CRA) identified a large number of individual taxpayer online accounts for which user IDs and passwords had been obtained by unauthorized third parties. ...
Employment increases by 259,000 positions in February
The most recent release of Statistics Canada’s Labour Force Survey shows a significant increase in employment during the month of February. During that month, employment rose by 259,000 jobs, and th...
The most recent release of Statistics Canada’s Labour Force Survey shows a significant increase in employment during the month of February. During that month, employment rose by 259,000 jobs, and th...
Bank of Canada leaves interest rates unchanged
As expected, the Bank of Canada announced on March 10 that no changes would be made to current interest rates. Accordingly, the Bank Rate remains at 0.5%. In the press release announcing its decision,...
As expected, the Bank of Canada announced on March 10 that no changes would be made to current interest rates. Accordingly, the Bank Rate remains at 0.5%. In the press release announcing its decision,...
Federal government to provide interest relief on pandemic benefit tax debt
The Canada Revenue Agency (CRA) has announced that targeted interest relief will be provided to Canadians who received pandemic income support benefits during 2020. Specifically, qualifying individual...
The Canada Revenue Agency (CRA) has announced that targeted interest relief will be provided to Canadians who received pandemic income support benefits during 2020. Specifically, qualifying individual...
Inflation rate for January at 1%
The most recent release of Statistics Canada’s Consumer Price Survey shows a slight increase in the rate of inflation for January 2021. The inflation rate for that month, as measured on a year-over-...
The most recent release of Statistics Canada’s Consumer Price Survey shows a slight increase in the rate of inflation for January 2021. The inflation rate for that month, as measured on a year-over-...
NETFILE service hours of availability
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2017, 2018, 2019, and 2020 tax years is now available 21 hours a day, 7 days a week. The ser...
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2017, 2018, 2019, and 2020 tax years is now available 21 hours a day, 7 days a week. The ser...
CRA issues 2020 guide for self-employed taxpayers
The Canada Revenue Agency (CRA) has issued the guide to be used by taxpayers who are reporting business or professional income, commission income, and income from farming and fishing received during 2...
The Canada Revenue Agency (CRA) has issued the guide to be used by taxpayers who are reporting business or professional income, commission income, and income from farming and fishing received during 2...
CRA help line to be available Saturdays during tax filing season
The Canada Revenue Agency (CRA) has announced that, beginning February 27, 2021, its Individual Tax Enquiries line will be available on Saturdays, from 9 a.m. to 5 p.m. That service is also available ...
The Canada Revenue Agency (CRA) has announced that, beginning February 27, 2021, its Individual Tax Enquiries line will be available on Saturdays, from 9 a.m. to 5 p.m. That service is also available ...
Prescribed interest leasing rate for March
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Extended hours and callback service now available on individual tax help line
The Canada Revenue Agency (CRA) has announced that its individual income tax enquiries line will be open for extended hours during the upcoming tax filing season. That line — reachable at 1-800-959-...
The Canada Revenue Agency (CRA) has announced that its individual income tax enquiries line will be open for extended hours during the upcoming tax filing season. That line — reachable at 1-800-959-...
NETFILE service for 2020 individual tax returns available February 22
The Canada Revenue Agency’s (CRA) NETFILE service for the online filing of individual income tax returns for the 2020 taxation year will be available starting Monday, February 22, 2021. In order to ...
The Canada Revenue Agency’s (CRA) NETFILE service for the online filing of individual income tax returns for the 2020 taxation year will be available starting Monday, February 22, 2021. In order to ...
Unemployment rate increases to 9.4% in January
The most recent release of Statistics Canada’s Labour Force Survey shows a significant decline in employment during the month of January, and a corresponding increase in the overall unemployment rat...
The most recent release of Statistics Canada’s Labour Force Survey shows a significant decline in employment during the month of January, and a corresponding increase in the overall unemployment rat...
Canada Revenue Agency releases 2020 individual income tax return package
The Canada Revenue Agency (CRA) has issued the individual income tax forms and guides to be used by Canadian residents in filing an income tax return for the 2020 taxation year. The particular form to...
The Canada Revenue Agency (CRA) has issued the individual income tax forms and guides to be used by Canadian residents in filing an income tax return for the 2020 taxation year. The particular form to...
Consultation process launched for 2021-22 federal Budget
The federal government has launched the consultation process leading to the release of the 2021-22 federal Budget. This year, there are three components to the consultation process. The government wil...
The federal government has launched the consultation process leading to the release of the 2021-22 federal Budget. This year, there are three components to the consultation process. The government wil...
Prescribed leasing interest rate for February
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on January 20 the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 0....
In its regularly scheduled interest rate announcement made on January 20 the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 0....
CRA issues guide to employment expense deductions for 2020
The Canada Revenue Agency (CRA) has issued an updated version of Guide T4044, Employment Expenses 2020, which outlines the tax treatment of various employment expenses, and will be used by taxpayers i...
The Canada Revenue Agency (CRA) has issued an updated version of Guide T4044, Employment Expenses 2020, which outlines the tax treatment of various employment expenses, and will be used by taxpayers i...
Inflation rate up in December 2020
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate inflation rose by 0.7% during the month of December 2020, as measured on a year-over-year basis. The rate for...
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate inflation rose by 0.7% during the month of December 2020, as measured on a year-over-year basis. The rate for...
CRA announces automobile benefit and deduction amounts for 2021
The Canada Revenue Agency (CRA) has released the automobile expense deduction limits and benefit rates which will apply during the 2021 taxation year. Most of the rates and limits which applied during...
The Canada Revenue Agency (CRA) has released the automobile expense deduction limits and benefit rates which will apply during the 2021 taxation year. Most of the rates and limits which applied during...
Unemployment rate up slightly in December
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of December 2020 increased to 8.6%. The comparable rate for the month of Nov...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of December 2020 increased to 8.6%. The comparable rate for the month of Nov...
Prescribed interest rates for 2021
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2021, as well as the rates that will apply for the purpose ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2021, as well as the rates that will apply for the purpose ...
NETFILE service for 2019 returns open until January 22, 2021
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2016, 2017, 2018, and 2019 taxation years will be available until Friday, January 22, 2021. ...
The Canada Revenue Agency’s (CRA) NETFILE service for the filing of individual income tax returns for the 2016, 2017, 2018, and 2019 taxation years will be available until Friday, January 22, 2021. ...
CRA issues 2020 income tax guide for students
Post-secondary students in Canada are eligible for a range of tax credits and deductions, including a tuition tax credit, deductions for moving expenses, and a claim for qualifying student loan intere...
Post-secondary students in Canada are eligible for a range of tax credits and deductions, including a tuition tax credit, deductions for moving expenses, and a claim for qualifying student loan intere...
CRA announces new flat rate method for home office expense claims
The Canada Revenue Agency (CRA) has announced that a new temporary home office tax credit may be claimable by qualifying individuals who worked from home during 2020. Taxpayers are eligible to use thi...
The Canada Revenue Agency (CRA) has announced that a new temporary home office tax credit may be claimable by qualifying individuals who worked from home during 2020. Taxpayers are eligible to use thi...
Upcoming changes to CRA administrative policy on representatives
The Canada Revenue Agency (CRA) permits taxpayers to designate another person, firm, or business to communicate with the CRA on the taxpayer’s behalf, where a written authorization has been provided...
The Canada Revenue Agency (CRA) permits taxpayers to designate another person, firm, or business to communicate with the CRA on the taxpayer’s behalf, where a written authorization has been provided...
December 31 deadline for tax relief applications
Taxpayers may apply to the Minister of National Revenue for administrative relief from interest and penalty charges imposed or, in some cases, for permission to late-file tax elections. In order to be...
Taxpayers may apply to the Minister of National Revenue for administrative relief from interest and penalty charges imposed or, in some cases, for permission to late-file tax elections. In order to be...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 9, the Bank of Canada announced that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 0.5...
In its regularly scheduled interest rate announcement made on December 9, the Bank of Canada announced that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 0.5...
Unemployment rate down slightly in November
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment declined by 0.4% during the month of November. The unemployment rate for the month was 8.5%. Fu...
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment declined by 0.4% during the month of November. The unemployment rate for the month was 8.5%. Fu...
Prescribed interest leasing rate for December
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Federal government updates deficit projection for 2020-21
On November 30, the Minister of Finance released the Fall Economic Statement, which included updated deficit projections for the current and future fiscal years. The deficit is now projected to reach ...
On November 30, the Minister of Finance released the Fall Economic Statement, which included updated deficit projections for the current and future fiscal years. The deficit is now projected to reach ...
Wage subsidy program extended to June 2021
The federal government has announced that the program providing a wage subsidy to eligible businesses experiencing a pandemic-related revenue loss has been extended to be available until June 2021. Th...
The federal government has announced that the program providing a wage subsidy to eligible businesses experiencing a pandemic-related revenue loss has been extended to be available until June 2021. Th...
Date announced for 2020 Fall Economic Statement
The federal government has announced that its Fall Economic Statement for the 2020-21 fiscal year will be released on Monday November 30, 2020. The press release announcing the date and time of the St...
The federal government has announced that its Fall Economic Statement for the 2020-21 fiscal year will be released on Monday November 30, 2020. The press release announcing the date and time of the St...
Inflation rate for October up slightly
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate of inflation for the month of October rose by 0.7%, as measured on a year-over-year basis. The comparable inc...
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate of inflation for the month of October rose by 0.7%, as measured on a year-over-year basis. The comparable inc...
Employment Insurance premium rates for 2021 announced
The federal government has released the premium rates and amounts which will apply in 2021 for purposes of the Employment Insurance (EI) program. For 2021, the EI premium rate will be 1.58% and maximu...
The federal government has released the premium rates and amounts which will apply in 2021 for purposes of the Employment Insurance (EI) program. For 2021, the EI premium rate will be 1.58% and maximu...
CRA announces increases in retirement savings contribution limits
The Canada Revenue Agency (CRA) has announced upcoming changes in the allowable contribution limits for a range of retirement savings programs. For registered pension plans, the 2021 money purchase l...
The Canada Revenue Agency (CRA) has announced upcoming changes in the allowable contribution limits for a range of retirement savings programs. For registered pension plans, the 2021 money purchase l...
Unemployment rate for October at 8.9%
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall rate of unemployment stood at 8.9% for the month of October. While the unemployment rate for the month was l...
The most recent release of Statistics Canada’s Labour Force Survey shows that the overall rate of unemployment stood at 8.9% for the month of October. While the unemployment rate for the month was l...
CRA issues updated Employer’s Guide to Taxable Benefits
The tax treatment of non-monetary benefits provided by employers to their employees can vary widely. Some such benefits must be included in the employee’s taxable income for the year, while others a...
The tax treatment of non-monetary benefits provided by employers to their employees can vary widely. Some such benefits must be included in the employee’s taxable income for the year, while others a...
CRA announces Canada Pension Plan contribution rates and amounts for 2021
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts which will apply for purposes of the Canada Pension Plan during 2021. For 2021, the employer and employee contribution ...
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts which will apply for purposes of the Canada Pension Plan during 2021. For 2021, the employer and employee contribution ...
Prescribed interest leasing rate for November
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
Bank of Canada leaves interest rates at current levels
In its October 28 announcement, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate remains at 0.5%. The press release announcing...
In its October 28 announcement, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate remains at 0.5%. The press release announcing...
Bank of Canada releases interest rate announcement schedule for 2021
The Bank of Canada has released its schedule for policy interest rate announcements to be made during the 2021 calendar year, and that schedule is as follows: Wednesday, January 20 Wednesday, March 1...
The Bank of Canada has released its schedule for policy interest rate announcements to be made during the 2021 calendar year, and that schedule is as follows: Wednesday, January 20 Wednesday, March 1...
Inflation rate up slightly in September
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation rose 0.5% on a year-over-year basis in September, up from a 0.1% increase in August. While pric...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation rose 0.5% on a year-over-year basis in September, up from a 0.1% increase in August. While pric...
Application process for Canada Recovery Benefit now open
In September, the Canada Emergency Response Benefit program came to an end, and three new programs to provide financial assistance to individuals impacted by the pandemic were launched. One of those p...
In September, the Canada Emergency Response Benefit program came to an end, and three new programs to provide financial assistance to individuals impacted by the pandemic were launched. One of those p...
Unemployment rate down to 9% in September
The most recent release of Statistics Canada’s Labour Force Survey shows that Canada’s overall unemployment rate declined by 1.2% during the month of September. For the month, that rate stood at 9...
The most recent release of Statistics Canada’s Labour Force Survey shows that Canada’s overall unemployment rate declined by 1.2% during the month of September. For the month, that rate stood at 9...
Application process now open for two new individual COVID-19 benefits
The federal government has created three separate benefits which can be claimed by qualifying Canadians, following the end of the Canada Emergency Response Benefit (CERB) program. Applications for two...
The federal government has created three separate benefits which can be claimed by qualifying Canadians, following the end of the Canada Emergency Response Benefit (CERB) program. Applications for two...
CRA issues warning of tax scam involving debt write-offs
The Canada Revenue Agency (CRA) has issued a warning to taxpayers with respect to a tax scam currently operating, which involves claims for bad debt write-offs. While bad debts can be written off for ...
The Canada Revenue Agency (CRA) has issued a warning to taxpayers with respect to a tax scam currently operating, which involves claims for bad debt write-offs. While bad debts can be written off for ...
Application process now open for two new individual COVID-19 benefits
The federal government has created three separate benefits which can be claimed by qualifying Canadians, following the end of the Canada Emergency Response Benefit (CERB) program. Applications for two...
The federal government has created three separate benefits which can be claimed by qualifying Canadians, following the end of the Canada Emergency Response Benefit (CERB) program. Applications for two...
Prescribed interest rates for 2020
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for 2020, as well as the rates that will apply for the purpose of calculating employ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for 2020, as well as the rates that will apply for the purpose of calculating employ...
Old Age Security benefit increase for fourth quarter of 2020
The Old Age Security benefit received by Canadians over the age of 65 is indexed quarterly to changes in the Consumer Price Index. The federal government has announced that the basic OAS benefit of $6...
The Old Age Security benefit received by Canadians over the age of 65 is indexed quarterly to changes in the Consumer Price Index. The federal government has announced that the basic OAS benefit of $6...
Prescribed leasing interest rate for October
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
The prescribed leasing interest rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the pr...
September 30, 2020 final application deadline for Canada Emergency Student Benefit
As part of its pandemic relief plan, the federal government provided eligible post-secondary students and recent post-secondary and high school graduates who were unable to find work for pandemic-rela...
As part of its pandemic relief plan, the federal government provided eligible post-secondary students and recent post-secondary and high school graduates who were unable to find work for pandemic-rela...
June and September individual income tax instalment payments due by September 30, 2020
Canadian taxpayers who pay income tax by instalment usually make four instalment payments each year, by the 15th day of March, June, September, and December. Earlier this year, the federal government ...
Canadian taxpayers who pay income tax by instalment usually make four instalment payments each year, by the 15th day of March, June, September, and December. Earlier this year, the federal government ...
Individual tax balances for 2019 tax year due by September 30
Earlier this year, the Canada Revenue Agency (CRA) announced that the deadline for payment of individual income tax balances for the 2019 tax year, which is usually April 30, was being extended to Wed...
Earlier this year, the Canada Revenue Agency (CRA) announced that the deadline for payment of individual income tax balances for the 2019 tax year, which is usually April 30, was being extended to Wed...
Unemployment rate decreases to 10.2% for August
The September release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of August stood at 10.2%. That rate represented a decrease of 0.7% from the ra...
The September release of Statistics Canada’s Labour Force Survey shows that the overall unemployment rate for the month of August stood at 10.2%. That rate represented a decrease of 0.7% from the ra...
Increase announced to non-taxable meal allowance rate
The federal government has announced an increase in the amount of any overtime meal allowance, or meal portion of a travel allowance, that employers can provide to employees on a non-taxable basis. Th...
The federal government has announced an increase in the amount of any overtime meal allowance, or meal portion of a travel allowance, that employers can provide to employees on a non-taxable basis. Th...
Filing of 2019 tax return necessary to ensure continued payment of tax credits
Eligibility for a number of refundable tax credits and benefits, including the harmonized sales tax/goods and services tax credit and the child tax benefit is based in part on a taxpayer’s income fo...
Eligibility for a number of refundable tax credits and benefits, including the harmonized sales tax/goods and services tax credit and the child tax benefit is based in part on a taxpayer’s income fo...
September 29 deadline for all applications for Canada Student Benefit Program
The pandemic emergency benefit program provided by the federal government for post-secondary students and recent secondary and post-secondary graduates ended on August 29, 2020. Those eligible for suc...
The pandemic emergency benefit program provided by the federal government for post-secondary students and recent secondary and post-secondary graduates ended on August 29, 2020. Those eligible for suc...
Federal government announces transition measures for end of CERB program
Since March 15 of this year, Canadians who have lost income as a result of the pandemic have been able to receive $500 per week from the Canada Emergency Response Benefit (CERB). The CERB program will...
Since March 15 of this year, Canadians who have lost income as a result of the pandemic have been able to receive $500 per week from the Canada Emergency Response Benefit (CERB). The CERB program will...
CRA to contact taxpayers affected by cyberattack
Earlier this month, a cyberattack on the Canada Revenue Agency (CRA) and other agencies of the federal government compromised the personal tax and financial information of approximately 5500 taxpayers...
Earlier this month, a cyberattack on the Canada Revenue Agency (CRA) and other agencies of the federal government compromised the personal tax and financial information of approximately 5500 taxpayers...
Application forms available for expanded Canada Employer Wage Subsidy program
On July 17, the federal government announced that the existing Canada Employer Wage Subsidy (CEWS) program would be extended to be available until November 21, 2020, and that eligibility criteria for ...
On July 17, the federal government announced that the existing Canada Employer Wage Subsidy (CEWS) program would be extended to be available until November 21, 2020, and that eligibility criteria for ...
Inflation rate for July drops to 0.1%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 0.1%. The comparable rate ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of July, as measured on a year-over-year basis, stood at 0.1%. The comparable rate ...
Prescribed leasing interest rate for September 2020
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
Unemployment rate for July down to 10.9%
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for July was 10.9%. The change means that the unemployment rate has fallen by 1.4 percentage poi...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for July was 10.9%. The change means that the unemployment rate has fallen by 1.4 percentage poi...
Extension announced for September individual instalment payments
Individual taxpayers who pay income tax by instalment are required to make four such instalment payments each year. The usual deadlines for such payments are the 15th day of March, June, September, an...
Individual taxpayers who pay income tax by instalment are required to make four such instalment payments each year. The usual deadlines for such payments are the 15th day of March, June, September, an...
Online filing option where paper return not yet assessed by CRA
The Canada Revenue Agency (CRA) has posted a notice on its website indicating that it is experiencing delays in the processing of paper-filed individual income tax returns for the 2019 taxation year. ...
The Canada Revenue Agency (CRA) has posted a notice on its website indicating that it is experiencing delays in the processing of paper-filed individual income tax returns for the 2019 taxation year. ...
CRA provides interest waiver period on tax amounts owed
The Canada Revenue Agency (CRA) has announced that an interest waiver period will be provided to individual taxpayers with respect to income taxes owed. That waiver period will run from April 1 to Sep...
The Canada Revenue Agency (CRA) has announced that an interest waiver period will be provided to individual taxpayers with respect to income taxes owed. That waiver period will run from April 1 to Sep...
Individual income tax payment deadline extended to September 30, 2020
Earlier this year, the deadline for payment of individual income tax amounts owed for the 2019 taxation year was extended from April 30 to September 1, 2020. The federal government has now indicated t...
Earlier this year, the deadline for payment of individual income tax amounts owed for the 2019 taxation year was extended from April 30 to September 1, 2020. The federal government has now indicated t...
Bank of Canada maintains interest rates at current level
In its regularly scheduled interest rate announcement made on July 15, the Bank of Canada indicated that, in its view, no change to current interest rates was required. Accordingly, the Bank Rate rema...
In its regularly scheduled interest rate announcement made on July 15, the Bank of Canada indicated that, in its view, no change to current interest rates was required. Accordingly, the Bank Rate rema...
Prescribed leasing interest rate for August 2020
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
Federal emergency wage subsidy to be available until December
Canadian employers whose businesses have been affected by the pandemic may be eligible for a federal government wage subsidy – the Canada Emergency Wage Subsidy (CEWS). The CEWS, which pays the empl...
Canadian employers whose businesses have been affected by the pandemic may be eligible for a federal government wage subsidy – the Canada Emergency Wage Subsidy (CEWS). The CEWS, which pays the empl...
Unemployment rate down slightly in June
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decline in the rate of unemployment during the month of June. The unemployment rate for June stood at 12.3%, a decli...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight decline in the rate of unemployment during the month of June. The unemployment rate for June stood at 12.3%, a decli...
Federal government projects $343 billion current-year deficit
On July 8, the federal government provided an update of its fiscal position for the current (2020-21) fiscal year, taking in account expenditures made in connection with the pandemic. That “Economic...
On July 8, the federal government provided an update of its fiscal position for the current (2020-21) fiscal year, taking in account expenditures made in connection with the pandemic. That “Economic...
Supplemental OAS payment issued during first week of July
Earlier this year, the federal government announced that, as part of its pandemic relief measures, recipients of Old Age Security would receive an additional one-time payment. Such payment is intended...
Earlier this year, the federal government announced that, as part of its pandemic relief measures, recipients of Old Age Security would receive an additional one-time payment. Such payment is intended...
NETFILE service for 2019 returns still available
The Canada Revenue Agency (CRA) has issued a Tax Tip reminding Canadians that its online filing services for the filing of individual income tax returns for the 2019 tax year are still open. Such indi...
The Canada Revenue Agency (CRA) has issued a Tax Tip reminding Canadians that its online filing services for the filing of individual income tax returns for the 2019 tax year are still open. Such indi...
No change to basic Old Age Security benefit for third quarter 2020
The Old Age Security benefit received by Canadians over the age of 65 is indexed quarterly to changes in the Consumer Price Index. The federal government has announced that, as the rate of inflation d...
The Old Age Security benefit received by Canadians over the age of 65 is indexed quarterly to changes in the Consumer Price Index. The federal government has announced that, as the rate of inflation d...
Prescribed leasing interest rate for July 2020
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
Prescribed interest rates for 2020
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2020, as well as the rates that will apply for the p...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first three quarters of 2020, as well as the rates that will apply for the p...
Canada Emergency Response Benefit program extended
The federal government has announced that the Canada Emergency Response Benefit (CERB) program has been extended to be available for a further eight weeks in some circumstances. As originally designed...
The federal government has announced that the Canada Emergency Response Benefit (CERB) program has been extended to be available for a further eight weeks in some circumstances. As originally designed...
Inflation rate down by 0.4% for May
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate of inflation fell by 0.4% during the month of May, as measured on a year-over-year basis. Prices were up in f...
The most recent release of Statistics Canada’s Consumer Price Survey shows that the rate of inflation fell by 0.4% during the month of May, as measured on a year-over-year basis. Prices were up in f...
Prescribed interest rate for leasing for June 2020
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
Unemployment rate up slightly in May
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate rose slightly during the month of May, from 13% to 13.7%. The StatsCan analysis indicates that une...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate rose slightly during the month of May, from 13% to 13.7%. The StatsCan analysis indicates that une...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on June 3 the Bank of Canada, as anticipated. made no change to current rates. Accordingly, the Bank Rate remains at 0.5%. In its announcemen...
In its regularly scheduled interest rate announcement made on June 3 the Bank of Canada, as anticipated. made no change to current rates. Accordingly, the Bank Rate remains at 0.5%. In its announcemen...
June 15 return filing deadline for self-employed taxpayers
Self-employed Canadians and their spouses must file an individual income tax return for the 2019 tax year on or before June 15, 2020. As part of the federal government’s pandemic response plan, howe...
Self-employed Canadians and their spouses must file an individual income tax return for the 2019 tax year on or before June 15, 2020. As part of the federal government’s pandemic response plan, howe...
June 15 individual income tax instalment due date deferred
Individual Canadians who pay income tax by instalments would normally be required to make the second instalment payment for this year on June 15, 2020. The Canada Revenue Agency (CRA) has indicated, h...
Individual Canadians who pay income tax by instalments would normally be required to make the second instalment payment for this year on June 15, 2020. The Canada Revenue Agency (CRA) has indicated, h...
CRA extends filing and payment deadlines for corporations and trusts
The Canada Revenue Agency (CRA) has announced that the deadline for filing of T2 returns by corporations and T3 returns by trusts has been extended. That announcement provides that all businesses and ...
The Canada Revenue Agency (CRA) has announced that the deadline for filing of T2 returns by corporations and T3 returns by trusts has been extended. That announcement provides that all businesses and ...
Free tax return preparation clinics go online
Each year community organizations across Canada operate a number of tax clinics at which individual income tax returns are prepared and filed free of charge to the taxpayer. Due to concerns surroundin...
Each year community organizations across Canada operate a number of tax clinics at which individual income tax returns are prepared and filed free of charge to the taxpayer. Due to concerns surroundin...
CRA extends federal benefit eligibility period
The benefit year for many federal benefits, like the Canada Child Benefit and the Goods and Services Tax Credit runs from July 1 to June 30. Eligibility for and the amount of such benefits are based, ...
The benefit year for many federal benefits, like the Canada Child Benefit and the Goods and Services Tax Credit runs from July 1 to June 30. Eligibility for and the amount of such benefits are based, ...
Repaying the Canada Emergency Response Benefit
The Canada Revenue Agency has issued a reminder to Canadians that there are circumstances in which the Canada Emergency Response Benefit (CERB) must be repaid. In particular, individuals who return to...
The Canada Revenue Agency has issued a reminder to Canadians that there are circumstances in which the Canada Emergency Response Benefit (CERB) must be repaid. In particular, individuals who return to...
Federal government to provide one time increase in Old Age Security payments
The federal government has announced that, in order to help seniors with additional costs resulting from the pandemic, a one-time supplement will be provided to Canadians who already receive Old Age S...
The federal government has announced that, in order to help seniors with additional costs resulting from the pandemic, a one-time supplement will be provided to Canadians who already receive Old Age S...
CRA issues warning of Canada Emergency Response Benefit scam
The Canada Revenue Agency (CRA) has issued an alert on its website warning Canadians of a scam operating with respect to the Canada Emergency Response Benefit (CERB). That Benefit, for which more than...
The Canada Revenue Agency (CRA) has issued an alert on its website warning Canadians of a scam operating with respect to the Canada Emergency Response Benefit (CERB). That Benefit, for which more than...
Online applications available for Canada Emergency Wage Subsidy
As part of its pandemic response, the federal government is providing eligible employers with a partial wage subsidy through the Canada Emergency Wage Subsidy (CEWS) program. The CEWS program provides...
As part of its pandemic response, the federal government is providing eligible employers with a partial wage subsidy through the Canada Emergency Wage Subsidy (CEWS) program. The CEWS program provides...
Prescribed leasing interest rate for May 2020
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
The prescribed leasing rate mandated by the Canada Revenue Agency (CRA) must be calculated using bond yield information found on the Bank of Canada website. That calculation shows that the prescribed ...
Prescribed interest rates for 2020
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2020, as well as the rates that will apply for the purpose ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2020, as well as the rates that will apply for the purpose ...
Inflation rate down sharply for March
The April release of Statistics Canada’s Consumer Price Index shows a sharp decline in the rate of inflation for the month of March. That rate stood at 0.9%, as measured on a year-over-year basis. T...
The April release of Statistics Canada’s Consumer Price Index shows a sharp decline in the rate of inflation for the month of March. That rate stood at 0.9%, as measured on a year-over-year basis. T...
Significant increase in unemployment rate during March
The most recent release of Statistics Canada’s Labour Force Survey shows a significant increase in the rate of unemployment during the month of March. The April release of the Labour Force Survey, w...
The most recent release of Statistics Canada’s Labour Force Survey shows a significant increase in the rate of unemployment during the month of March. The April release of the Labour Force Survey, w...
Canada Student Loan repayments suspended until September 30, 2020
The federal government has announced that required repayments of Canada Student Loans will be suspended until September 30th, 2020. Where payments are usually made by pre-authorized debit, such paymen...
The federal government has announced that required repayments of Canada Student Loans will be suspended until September 30th, 2020. Where payments are usually made by pre-authorized debit, such paymen...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on April 15, the Bank of Canada indicated that, in its view, no change to current interest rates was required. Accordingly, the Bank Rate rem...
In its regularly scheduled interest rate announcement made on April 15, the Bank of Canada indicated that, in its view, no change to current interest rates was required. Accordingly, the Bank Rate rem...
Wage subsidy program to be provided to Canadian employers
The federal government will be providing a wage subsidy program to eligible employers who have experienced a recent reduction in revenues of 30% or more. That program—the Canada Emergency Wage Subsi...
The federal government will be providing a wage subsidy program to eligible employers who have experienced a recent reduction in revenues of 30% or more. That program—the Canada Emergency Wage Subsi...
Application process for Canada Emergency Response Benefit now open
As of April 6, 2020, Canadians can apply for the federal Canada Emergency Response Benefit (CERB), which provides eligible individuals with $500 per week for a maximum of 16 weeks. The benefit is gene...
As of April 6, 2020, Canadians can apply for the federal Canada Emergency Response Benefit (CERB), which provides eligible individuals with $500 per week for a maximum of 16 weeks. The benefit is gene...
Federal government defers remittance of HST/GST payments
The federal government will be providing businesses with an extension with respect to remittance deadlines related to goods and services tax (GST) and harmonized sales tax (HST). The deferral will app...
The federal government will be providing businesses with an extension with respect to remittance deadlines related to goods and services tax (GST) and harmonized sales tax (HST). The deferral will app...
Bank of Canada announces further reduction in interest rates
In an unscheduled announcement made on March 27, the Bank of Canada lowered interest rates for the third time this month. In that announcement, the Bank reduced current rates by one-half percentage po...
In an unscheduled announcement made on March 27, the Bank of Canada lowered interest rates for the third time this month. In that announcement, the Bank reduced current rates by one-half percentage po...
One-time increase in Canada Child Benefit to be provided
The federal government has announced that, for the current benefit year only, the amount of Canada Child Benefit will be increased by a one-time payment of $300 per child. The $300 additional benefit ...
The federal government has announced that, for the current benefit year only, the amount of Canada Child Benefit will be increased by a one-time payment of $300 per child. The $300 additional benefit ...
Individual tax filing and payment deadlines extended
The deadline for filing of most 2019 individual income tax returns, as well as payment of any balance of tax owed for the 2019 taxation year by individual taxpayers would usually be April 30, 2020. Th...
The deadline for filing of most 2019 individual income tax returns, as well as payment of any balance of tax owed for the 2019 taxation year by individual taxpayers would usually be April 30, 2020. Th...
Bank of Canada reduces interest rates
Citing the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent drop in oil prices, the Bank of Canada has announced a further reduction in interest rates. The unsch...
Citing the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent drop in oil prices, the Bank of Canada has announced a further reduction in interest rates. The unsch...
Federal government postpones individual tax filing deadline for 2019 returns
The federal government has announced that the filing deadline for individual Canadian tax filers who would usually be required to file by April 30 has been extended to June 1, 2020. (Returns for 2019 ...
The federal government has announced that the filing deadline for individual Canadian tax filers who would usually be required to file by April 30 has been extended to June 1, 2020. (Returns for 2019 ...
CRA issues Tax Tip for property buyers and sellers
Canadian taxpayers who buy or sell a property during the year may be subject to requirements to report that transaction on their annual return and, in some cases, to pay tax on sale proceeds. The CRA ...
Canadian taxpayers who buy or sell a property during the year may be subject to requirements to report that transaction on their annual return and, in some cases, to pay tax on sale proceeds. The CRA ...
Little change in unemployment rate for February
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the overall unemployment rate during the month of February. That rate rose by 0.1%, to 5.6%. During the mont...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in the overall unemployment rate during the month of February. That rate rose by 0.1%, to 5.6%. During the mont...
Extended hours for CRA individual tax enquiries line
The Canada Revenue Agency’s individual income tax enquiries telephone service will be available for extended hours during tax filing season. That enquiries service, which can be reached at 1-800-959...
The Canada Revenue Agency’s individual income tax enquiries telephone service will be available for extended hours during tax filing season. That enquiries service, which can be reached at 1-800-959...
Bank of Canada cuts interest rates
In its regularly scheduled interest rate announcement made on March 4 the Bank of Canada indicated that, in its view, a reduction to current interest rates was required. Accordingly, the bank rate was...
In its regularly scheduled interest rate announcement made on March 4 the Bank of Canada indicated that, in its view, a reduction to current interest rates was required. Accordingly, the bank rate was...
CRA releases 2019 Guide to Self-Employed Business, Professional, Commission, Farming and Fishing Income
The Canada Revenue Agency (CRA) has released its 2019 Guide to Self-Employed Business, Professional, Commission, Farming and Fishing Income for 2019. That Guide is used by taxpayers who are reporting ...
The Canada Revenue Agency (CRA) has released its 2019 Guide to Self-Employed Business, Professional, Commission, Farming and Fishing Income for 2019. That Guide is used by taxpayers who are reporting ...
NETFILE service for filing of individual returns for 2019 now available
The Canada Revenue Agency’s NETFILE service for the filing of individual income tax returns for the 2019 taxation year is now available. The current NETFILE service, which can be found on the CRA we...
The Canada Revenue Agency’s NETFILE service for the filing of individual income tax returns for the 2019 taxation year is now available. The current NETFILE service, which can be found on the CRA we...
Upcoming deadline for 2019 RRSP contributions
The Canada Revenue Agency (CRA) has announced that contributions to a registered retirement savings plan (RRSP), in order to be deducted on the return for 2019, must be made on or before Monday March ...
The Canada Revenue Agency (CRA) has announced that contributions to a registered retirement savings plan (RRSP), in order to be deducted on the return for 2019, must be made on or before Monday March ...
Increase in inflation rate for January 2020
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the rate of inflation for the month of January. That rate stood at 2.4%, as measured on a year-over-year basi...
The most recent release of Statistics Canada’s Consumer Price Index shows an increase in the rate of inflation for the month of January. That rate stood at 2.4%, as measured on a year-over-year basi...
Unemployment rate down slightly for January 2020
The most recent release of Statistics Canada’s Labour Force Survey shows that that unemployment rate dropped slightly during the month of January, from 5.6% to 5.5%. During that month, employment in...
The most recent release of Statistics Canada’s Labour Force Survey shows that that unemployment rate dropped slightly during the month of January, from 5.6% to 5.5%. During that month, employment in...
Canada Revenue Agency issues meal and travel expense deduction rates and limits for 2019
The rates and limits for deduction and credit claims for meal and travel expenses are now posted on the Canada Revenue Agency (CRA) website. Such rates and limits apply to meal and travel expense clai...
The rates and limits for deduction and credit claims for meal and travel expenses are now posted on the Canada Revenue Agency (CRA) website. Such rates and limits apply to meal and travel expense clai...
Digital news subscription tax credit now available
In the 2019 Budget, the federal government introduced a new tax credit for digital news subscription costs incurred by individuals. That tax credit is available starting in the 2020 tax year. Individu...
In the 2019 Budget, the federal government introduced a new tax credit for digital news subscription costs incurred by individuals. That tax credit is available starting in the 2020 tax year. Individu...
Digital news subscription tax credit now available
In the 2019 Budget, the federal government introduced a new tax credit for digital news subscription costs incurred by individuals. That tax credit is available starting in the 2020 tax year. Individu...
In the 2019 Budget, the federal government introduced a new tax credit for digital news subscription costs incurred by individuals. That tax credit is available starting in the 2020 tax year. Individu...
CRA issues updated guide to students and income tax
The Canada Revenue Agency (CRA) publishes a guide for post-secondary students which outlines the rules governing typical tax situations for such students. Those rules include the tax treatment of tuit...
The Canada Revenue Agency (CRA) publishes a guide for post-secondary students which outlines the rules governing typical tax situations for such students. Those rules include the tax treatment of tuit...
NETFILE service for 2019 returns available February 24, 2020
The Canada Revenue Agency (CRA) has announced that the NETFILE service for online filing of individual income tax returns for the 2019 tax year will be available beginning Monday, February 24, 2020. M...
The Canada Revenue Agency (CRA) has announced that the NETFILE service for online filing of individual income tax returns for the 2019 tax year will be available beginning Monday, February 24, 2020. M...
CRA issues 2019 Individual Income Tax Return and Guide
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide for all provinces and territories for the 2019 tax year, and those forms and guides are posted on its website at...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide for all provinces and territories for the 2019 tax year, and those forms and guides are posted on its website at...
Bank of Canada leaves interest rate unchanged
In its regularly scheduled interest rate announcement made on January 22, 2020, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remain...
In its regularly scheduled interest rate announcement made on January 22, 2020, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remain...
CRA announces automobile expense deduction limits for 2020
The Canada Revenue Agency has announced the rates and limits which will apply for purposes of automobile-related benefits and deductions in 2020. Most such rates and limits are unchanged, as follows: ...
The Canada Revenue Agency has announced the rates and limits which will apply for purposes of automobile-related benefits and deductions in 2020. Most such rates and limits are unchanged, as follows: ...
OAS payment rates for first quarter of 2020
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the first quarter (January 1 to March 31) of 2020. OAS payments are indexed quarterly to c...
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the first quarter (January 1 to March 31) of 2020. OAS payments are indexed quarterly to c...
Unemployment rate down for December 2019
The most recent release of Statistics Canada’s Labour Force Survey shows that employment increased by 35,000 jobs during the month of December and that the overall unemployment rate fell by 0.3%, to...
The most recent release of Statistics Canada’s Labour Force Survey shows that employment increased by 35,000 jobs during the month of December and that the overall unemployment rate fell by 0.3%, to...
Personal tax credit amounts increased
The federal government has announced that the basic personal tax credit, the spousal credit, and the eligible dependant credit amounts will increase, in four stages, from $12,298 to $15,000. The first...
The federal government has announced that the basic personal tax credit, the spousal credit, and the eligible dependant credit amounts will increase, in four stages, from $12,298 to $15,000. The first...
Prescribed interest rates for 2020
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2020, as well as the rates that will apply for the purpose ...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the first quarter of 2020, as well as the rates that will apply for the purpose ...
Prescribed leasing interest rate for January 2020
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
Climate action incentive payment amounts for 2020
The federal government has announced the amounts which will be paid under the climate action incentive program during 2020. Such amounts are claimed when filing the individual income tax return for 20...
The federal government has announced the amounts which will be paid under the climate action incentive program during 2020. Such amounts are claimed when filing the individual income tax return for 20...
NETFILE service for prior years available until January 24, 2020
Taxpayers who have not yet filed their individual income tax returns for 2018 (or the three prior years) can file those returns on NETFILE until Friday, January 24, 2020. Until that date, the Canada R...
Taxpayers who have not yet filed their individual income tax returns for 2018 (or the three prior years) can file those returns on NETFILE until Friday, January 24, 2020. Until that date, the Canada R...
Economic and Fiscal Update projects increased current year deficit
The 2019 Economic and Fiscal Update released on December 16 by the Minister of Finance shows a significant increase in the projected deficit for the current fiscal year. In the 2019-20 Budget announce...
The 2019 Economic and Fiscal Update released on December 16 by the Minister of Finance shows a significant increase in the projected deficit for the current fiscal year. In the 2019-20 Budget announce...
December 16 deadline for final instalment payment for 2019
Canadians who pay income tax by instalments are required to pay the fourth and final instalment payment of 2019 on or before Monday December 16, 2019. Taxpayers subject to the instalment payment requi...
Canadians who pay income tax by instalments are required to pay the fourth and final instalment payment of 2019 on or before Monday December 16, 2019. Taxpayers subject to the instalment payment requi...
December 31 deadline for taxpayer relief applications for 2009
Under the federal government’s Taxpayer Relief Program, the Minister of National Revenue can provide relief to taxpayers from interest or penalty charges which have been assessed. Such taxpayer reli...
Under the federal government’s Taxpayer Relief Program, the Minister of National Revenue can provide relief to taxpayers from interest or penalty charges which have been assessed. Such taxpayer reli...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 4, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 2...
In its regularly scheduled interest rate announcement made on December 4, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 2...
Indexing adjustment for 2020 released by CRA
The Canada Revenue Agency has announced that personal income tax brackets and credit amounts for the 2020 taxation year will increase by 1.9%. Each year, such individual income tax brackets and cred...
The Canada Revenue Agency has announced that personal income tax brackets and credit amounts for the 2020 taxation year will increase by 1.9%. Each year, such individual income tax brackets and cred...
Inflation rate for October 2019 unchanged
The most recent release of Statistics Canada’s Consumer Price Index indicates that there was no change in the rate of inflation recorded for the month of October. That rate stood at 1.9%, as measure...
The most recent release of Statistics Canada’s Consumer Price Index indicates that there was no change in the rate of inflation recorded for the month of October. That rate stood at 1.9%, as measure...
CRA issues Payroll Deduction Formula guide for 2020
The Canada Revenue Agency has issued the 2020 version of Guide T4127, Payroll Deduction Formulas, which is intended for use by payroll software providers or companies which develop their own in-house ...
The Canada Revenue Agency has issued the 2020 version of Guide T4127, Payroll Deduction Formulas, which is intended for use by payroll software providers or companies which develop their own in-house ...
Upcoming CRA webinar on payroll
On Wednesday November 27, the Canada Revenue Agency (CRA) will be hosting a webinar on payroll requirements for Canadian employers. The webinar, which will start at 1:00 p.m. EST, is free of charge fo...
On Wednesday November 27, the Canada Revenue Agency (CRA) will be hosting a webinar on payroll requirements for Canadian employers. The webinar, which will start at 1:00 p.m. EST, is free of charge fo...
CRA issues 2019 guide to students and income tax
The Canada Revenue Agency (CRA) has updated and re-issued its tax guide for post-secondary students. That guide (P105, Students and Income Tax) reviews the tax treatment of common deductions and credi...
The Canada Revenue Agency (CRA) has updated and re-issued its tax guide for post-secondary students. That guide (P105, Students and Income Tax) reviews the tax treatment of common deductions and credi...
Employment Insurance contribution rates for 2020
The federal government has announced the Employment Insurance (EI) premium rates which will be levied during 2020. For 2020, maximum insurable earnings for the year will be $54,200. The premium rate f...
The federal government has announced the Employment Insurance (EI) premium rates which will be levied during 2020. For 2020, maximum insurable earnings for the year will be $54,200. The premium rate f...
No change in unemployment rate for October
The most recent release of Statistics Canada’s Labour Force Survey shows that there was no change in the overall unemployment rate for the month of October 2019, with that rate remaining at 5.5%. Am...
The most recent release of Statistics Canada’s Labour Force Survey shows that there was no change in the overall unemployment rate for the month of October 2019, with that rate remaining at 5.5%. Am...
CRA issues employer guide to payroll deductions for 2020
The Canada Revenue Agency has issued its Employer’s Guide: Payroll Deductions and Remittances for 2020 (T4001(E)). That guide provides employers with information on the deductions which must be made...
The Canada Revenue Agency has issued its Employer’s Guide: Payroll Deductions and Remittances for 2020 (T4001(E)). That guide provides employers with information on the deductions which must be made...
Canada Pension Plan contribution rates for 2020 released
The federal government has announced the contribution rates and amounts and maximum pensionable earnings which will apply for purposes of the Canada Pension Plan in 2020. Employee and employer contrib...
The federal government has announced the contribution rates and amounts and maximum pensionable earnings which will apply for purposes of the Canada Pension Plan in 2020. Employee and employer contrib...
CRA issues 2019 employer guide to taxable benefits
Employers are required, by the end of February 2020, to issue T4 slips for their employees for the 2019 taxation year. Those T4s will summarize the amount of remuneration received by the employee duri...
Employers are required, by the end of February 2020, to issue T4 slips for their employees for the 2019 taxation year. Those T4s will summarize the amount of remuneration received by the employee duri...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on October 30, 2019, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate will r...
In its regularly scheduled interest rate announcement made on October 30, 2019, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate will r...
CPP contribution rate to increase January 1, 2020
As previously announced, changes are to be made to the Canada Pension Plan over the next 5 years, with the goal of increasing the amount of CPP retirement benefits available to contributors. The next ...
As previously announced, changes are to be made to the Canada Pension Plan over the next 5 years, with the goal of increasing the amount of CPP retirement benefits available to contributors. The next ...
Online retirement income calculator available
The federal government provides a detailed online retirement income calculator which can be used by taxpayers planning retirement. The online calculator allows users to input income amounts from vario...
The federal government provides a detailed online retirement income calculator which can be used by taxpayers planning retirement. The online calculator allows users to input income amounts from vario...
No change in inflation rate for September
The overall inflation rate was unchanged for the month of September, with that rate matching the 1.9% year-over-year increase posted for the month of August 2019. The greatest contributor to the infla...
The overall inflation rate was unchanged for the month of September, with that rate matching the 1.9% year-over-year increase posted for the month of August 2019. The greatest contributor to the infla...
Unemployment rate down in September
The most recent release of Statistics Canada’s Labour Force Survey shows a sharp increase in job creation for the month of September. During that month employment rose by 54,000, mainly in full-time...
The most recent release of Statistics Canada’s Labour Force Survey shows a sharp increase in job creation for the month of September. During that month employment rose by 54,000, mainly in full-time...
Prescribed interest rate for leasing for November
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
2020 Employment Insurance premium rates announced
The federal government has announced the Employment Insurance premium rates and amounts which will be levied during the 2020 calendar year. For 2020, the Employment Insurance premium rate is decreased...
The federal government has announced the Employment Insurance premium rates and amounts which will be levied during the 2020 calendar year. For 2020, the Employment Insurance premium rate is decreased...
OAS payment rates for fourth quarter of 2019
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the fourth quarter (October 1 to December 31) of 2019. OAS payments are indexed quarterly ...
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the fourth quarter (October 1 to December 31) of 2019. OAS payments are indexed quarterly ...
Prescribed interest rates for 2019
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2019, as well as the rates that will apply for the purpose of calculating emp...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for 2019, as well as the rates that will apply for the purpose of calculating emp...
CRA updates and re-issues publication on tax audits
The Canada Revenue Agency (CRA) has updated and re-issued its publication on the conduct of tax audits. The updated publication (RC4188E)) outlines the process by which the CRA chooses a file for audi...
The Canada Revenue Agency (CRA) has updated and re-issued its publication on the conduct of tax audits. The updated publication (RC4188E)) outlines the process by which the CRA chooses a file for audi...
Prescribed interest rate for leasing for October
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
Rate of inflation at 1.9% for August
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of August stood at 1.9%, as measured on a year-over-year basis. The inflation rate ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of August stood at 1.9%, as measured on a year-over-year basis. The inflation rate ...
Federal government releases financial results for 2018-19
Finance Canada has released the Annual Financial Report of the Government of Canada for 2018-19, which provides an overview of the federal government’s financial results for the 2018-19 fiscal year ...
Finance Canada has released the Annual Financial Report of the Government of Canada for 2018-19, which provides an overview of the federal government’s financial results for the 2018-19 fiscal year ...
CRA issues tax guidance for international students
Each September thousands of international students move to (or return to) Canada to attend Canadian secondary or post-secondary educational institutions. Depending on their residency status, those stu...
Each September thousands of international students move to (or return to) Canada to attend Canadian secondary or post-secondary educational institutions. Depending on their residency status, those stu...
Unemployment rate unchanged in August
The most recent release of Statistics Canada’s Labour Force Survey shows that employment increased by 81,000 positions during the month of August 2019. Notwithstanding that increase, the unemploymen...
The most recent release of Statistics Canada’s Labour Force Survey shows that employment increased by 81,000 positions during the month of August 2019. Notwithstanding that increase, the unemploymen...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on September 4, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at ...
In its regularly scheduled interest rate announcement made on September 4, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at ...
Individual income tax instalment payment due September 16
Individual taxpayers who make quarterly instalment payments of tax must make the third such instalment payment for the year on or before September 15. As that date falls on a Sunday this year, payment...
Individual taxpayers who make quarterly instalment payments of tax must make the third such instalment payment for the year on or before September 15. As that date falls on a Sunday this year, payment...
Bank of Canada announces 2020 interest rate announcement schedule
The Bank of Canada has released a listing of the eight dates on which it will make regularly scheduled interest rate announcements during 2020. That listing is as follows: Wednesday, January 22 Wedne...
The Bank of Canada has released a listing of the eight dates on which it will make regularly scheduled interest rate announcements during 2020. That listing is as follows: Wednesday, January 22 Wedne...
CRA issues warning on self-directed RRSP withdrawal schemes
The Canada Revenue Agency has issued a Tax Tip warning owners of self-directed RRSPs about a current tax scheme which they may encounter. Promoters of such schemes falsely promise owners of self-direc...
The Canada Revenue Agency has issued a Tax Tip warning owners of self-directed RRSPs about a current tax scheme which they may encounter. Promoters of such schemes falsely promise owners of self-direc...
CRA issues updated guide to electronic record keeping by taxpayers
The Canada Revenue Agency has updated and re-issued its Information Circular outlining the rules and requirements which apply to taxpayers who keep business and tax books and records in electronic for...
The Canada Revenue Agency has updated and re-issued its Information Circular outlining the rules and requirements which apply to taxpayers who keep business and tax books and records in electronic for...
Inflation rate unchanged in July
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation recorded for the month of July was unchanged from the previous month. For both June and July, tha...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation recorded for the month of July was unchanged from the previous month. For both June and July, tha...
Prescribed interest rate for leasing for September
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, which includes the applicable rate for the upcoming month, as well as the rates in ...
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, which includes the applicable rate for the upcoming month, as well as the rates in ...
Unemployment rate up slightly for July
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the unemployment rate for the month of July, as measured on a year-over-year basis. For that month, the ...
The most recent release of Statistics Canada’s Labour Force Survey shows a slight increase in the unemployment rate for the month of July, as measured on a year-over-year basis. For that month, the ...
CRA enhances telephone security procedures
The Canada Revenue Agency (CRA) has issued a Tax Tip reminding taxpayers of the procedures which it utilizes to protect their personal information, particularly with respect to contacts between taxpay...
The Canada Revenue Agency (CRA) has issued a Tax Tip reminding taxpayers of the procedures which it utilizes to protect their personal information, particularly with respect to contacts between taxpay...
Third quarterly income tax instalment due September 15
Individuals who are required to pay income tax by instalments must make their third quarterly instalment for 2019 on or before September 15, 2019. As that date is a Sunday, such payments are considere...
Individuals who are required to pay income tax by instalments must make their third quarterly instalment for 2019 on or before September 15, 2019. As that date is a Sunday, such payments are considere...
Federal government issues initial listing of prescribed livestock tax deferral areas for 2019
The federal government provides tax relief to livestock producers who are experiencing severe weather or climate conditions during the year. Such relief is provided through the livestock tax deferral ...
The federal government provides tax relief to livestock producers who are experiencing severe weather or climate conditions during the year. Such relief is provided through the livestock tax deferral ...
Bank of Canada releases 2020 interest rate announcement dates
The Bank of Canada has released the listing of dates on which it will make scheduled interest rate announcements during calendar year 2020. There will be 8 such scheduled interest rate announcements d...
The Bank of Canada has released the listing of dates on which it will make scheduled interest rate announcements during calendar year 2020. There will be 8 such scheduled interest rate announcements d...
Mortgage stress test interest rate lowered to 5.19%
Prospective mortgage borrowers in Canada are subject to a “stress test” as part of the assessment of their credit-worthiness. Under that test, such borrowers are required to qualify for a mortgage...
Prospective mortgage borrowers in Canada are subject to a “stress test” as part of the assessment of their credit-worthiness. Under that test, such borrowers are required to qualify for a mortgage...
Inflation rate up by 2% in June
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of June 2019 stood at 2%. The comparable rate for May was 2.4%. The decr...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation during the month of June 2019 stood at 2%. The comparable rate for May was 2.4%. The decr...
Prescribed interest rate for leasing for August
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
The Canada Revenue Agency (CRA) formerly provided taxpayers with a listing of prescribed interest rates for leasing, with such listing including the applicable rate for the upcoming month, as well as ...
Slight increase in unemployment rate for June
The most recent release of Statistics Canada’s Labour Force Survey shows that, although the unemployment rate for the month of June rose by 0.1%, employment increased by 132,000 positions during the...
The most recent release of Statistics Canada’s Labour Force Survey shows that, although the unemployment rate for the month of June rose by 0.1%, employment increased by 132,000 positions during the...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on July 10, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the bank rate remains at 2%. ...
In its regularly scheduled interest rate announcement made on July 10, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the bank rate remains at 2%. ...
Prescribed interest rates for the first three quarters of 2019
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2019, as well as the rates that will apply for th...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first three quarters of 2019, as well as the rates that will apply for th...
Increases to GST/HST credit and Canada Child Benefit payment rates
July 1, 2019 is the start of the 2019-20 benefit year for many provincial and federal child and tax benefits, including the federal GST/HST credit and the Canada Child Benefit. As of that date, the pa...
July 1, 2019 is the start of the 2019-20 benefit year for many provincial and federal child and tax benefits, including the federal GST/HST credit and the Canada Child Benefit. As of that date, the pa...
OAS payment rates for third quarter of 2019
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the third quarter (July 1 to September 30) of 2019. OAS payments are indexed quarterly to ...
The federal government has announced the Old Age Security (OAS) and related amounts which will be paid during the third quarter (July 1 to September 30) of 2019. OAS payments are indexed quarterly to ...
Prescribed interest rate for leasing for July
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July 2019. The prescribed rate for July is 2.75%. A chart showi...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July 2019. The prescribed rate for July is 2.75%. A chart showi...
Inflation rate for May at 2.4%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of May 2019, as measured on a year-over-year basis, stood at 2.4%. Inflation during...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of May 2019, as measured on a year-over-year basis, stood at 2.4%. Inflation during...
Finance holding consultations on upcoming changes to stock option rules
Under the Canadian tax system, employee stock options receive preferential tax treatment. In this year’s Budget the federal government indicated that, in its view, the existing rules on stock option...
Under the Canadian tax system, employee stock options receive preferential tax treatment. In this year’s Budget the federal government indicated that, in its view, the existing rules on stock option...
First-time home buyer’s incentive to launch September 2, 2019
In this year’s federal Budget, a new program was announced to benefit first-time home buyers. Under that program, the First-Time Home Buyer’s Incentive, the Canada Mortgage and Housing Corporation...
In this year’s federal Budget, a new program was announced to benefit first-time home buyers. Under that program, the First-Time Home Buyer’s Incentive, the Canada Mortgage and Housing Corporation...
Increases to Canada child benefit effective July 1, 2019
Effective as of July 2019, the amount of Canada Child Benefit (CCB) payable to eligible Canadian families will be increased to account for inflation. Starting with the July payment (which will be made...
Effective as of July 2019, the amount of Canada Child Benefit (CCB) payable to eligible Canadian families will be increased to account for inflation. Starting with the July payment (which will be made...
Unemployment rate down slightly in May
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate recorded for the month of May. The unemployment rate for that month stood at...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate recorded for the month of May. The unemployment rate for that month stood at...
Prescribed interest rates for leasing for June 2019
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the month of June 2019. The prescribed rate for that month will be increase...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the month of June 2019. The prescribed rate for that month will be increase...
Individual income tax instalment payment due June 17
Individual taxpayers who pay income tax by instalments must make their second instalment payment for 2019 on or before June 17, 2019. Such taxpayers will have received an instalment notice setting out...
Individual taxpayers who pay income tax by instalments must make their second instalment payment for 2019 on or before June 17, 2019. Such taxpayers will have received an instalment notice setting out...
2018 returns for self-employed taxpayers due June 17, 2019
Self-employed taxpayers (and their spouses) have until Monday June 17, 2019 to file their income tax returns for the 2018 tax year. Returns filed after that date will be subject to late-filing penalti...
Self-employed taxpayers (and their spouses) have until Monday June 17, 2019 to file their income tax returns for the 2018 tax year. Returns filed after that date will be subject to late-filing penalti...
Bank of Canada maintains interest rates at current levels
In its regularly scheduled interest rate announcement made on May 29, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Consequently, the Bank Rate remain...
In its regularly scheduled interest rate announcement made on May 29, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Consequently, the Bank Rate remain...
Filing of 2018 tax return required to receive federal tax benefits
The federal government and many of the provinces provide benefit programs for which both entitlement and benefit amount are based, at least in part, on the income of the recipient taxpayer. Those bene...
The federal government and many of the provinces provide benefit programs for which both entitlement and benefit amount are based, at least in part, on the income of the recipient taxpayer. Those bene...
Overall inflation rate for April 2019 at 2%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of April stood at 2%, as measured on a year-over-year basis. Seven of the eight maj...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of April stood at 2%, as measured on a year-over-year basis. Seven of the eight maj...
CRA confirms June 17 filing deadline for self-employed taxpayers
The Canada Revenue Agency (CRA) has issued a Tax Tip confirming that the filing deadline for individual income tax returns filed for the 2018 tax year by self-employed individuals and their spouses is...
The Canada Revenue Agency (CRA) has issued a Tax Tip confirming that the filing deadline for individual income tax returns filed for the 2018 tax year by self-employed individuals and their spouses is...
Good employment news for the month of April
The most recent release of Statistics Canada’s Labour Force Survey shows growth in employment during the month of April for nearly all demographic groups. The overall unemployment rate for the month...
The most recent release of Statistics Canada’s Labour Force Survey shows growth in employment during the month of April for nearly all demographic groups. The overall unemployment rate for the month...
CRA issues warning on Health Spending Account tax schemes
The Canada Revenue Agency (CRA) has issued a warning about a current tax scheme involving Health Spending Accounts (HSAs) which are being marketed to small businesses. HSAs are self-insured health pla...
The Canada Revenue Agency (CRA) has issued a warning about a current tax scheme involving Health Spending Accounts (HSAs) which are being marketed to small businesses. HSAs are self-insured health pla...
Canada Child Benefit rates to increase in July
The federal government has announced that, effective with the July 2019 payment, Canada Child Benefit rates will increase.As of July, the maximum benefit for a child under the age of 6 will increase t...
The federal government has announced that, effective with the July 2019 payment, Canada Child Benefit rates will increase.As of July, the maximum benefit for a child under the age of 6 will increase t...
Prescribed interest rate for leasing for May 2019
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the month of May 2019. The prescribed rate for that month will be reduced t...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the month of May 2019. The prescribed rate for that month will be reduced t...
CRA reminds flood-affected taxpayers of available relief
The Canada Revenue Agency (CRA) has issued a press release reminding taxpayers who have been affected by this spring’s floods of the availability of relief with respect to their obligation to file a...
The Canada Revenue Agency (CRA) has issued a press release reminding taxpayers who have been affected by this spring’s floods of the availability of relief with respect to their obligation to file a...
Increase in rate of inflation for March 2019
The most recent release of Statistics Canada’s Consumer Price Index shows a significant increase in the rate of inflation recorded for the month of March 2019. During that month, the CPI rose 1.9%, ...
The most recent release of Statistics Canada’s Consumer Price Index shows a significant increase in the rate of inflation recorded for the month of March 2019. During that month, the CPI rose 1.9%, ...
Bank of Canada leaves interest rates unchanged
The Bank of Canada, in its regularly scheduled interest rate announcement made on April 24, determined that no change was needed to current rates. The Bank Rate therefore remains at 2%. The press rele...
The Bank of Canada, in its regularly scheduled interest rate announcement made on April 24, determined that no change was needed to current rates. The Bank Rate therefore remains at 2%. The press rele...
OAS rates unchanged for the second quarter of 2019
The federal government has announced the Old Age Security payment rates which will be in effect for the second quarter (April 1 to June 30) of 2019. OAS payment rates are indexed quarterly to inflatio...
The federal government has announced the Old Age Security payment rates which will be in effect for the second quarter (April 1 to June 30) of 2019. OAS payment rates are indexed quarterly to inflatio...
April 30 deadline for payment of 2018 individual income taxes
All payments of individual income tax owed for the 2018 taxation year must be received by the Canada Revenue Agency (CRA) on or before Tuesday April 30, 2019. There are a number of means by which paym...
All payments of individual income tax owed for the 2018 taxation year must be received by the Canada Revenue Agency (CRA) on or before Tuesday April 30, 2019. There are a number of means by which paym...
CRA issues guide to medical expense claims for 2018
The Canada Revenue Agency (CRA) has issued an updated guide to be used by taxpayers who are claiming medical expenses on their income tax returns for 2018. Individual taxpayers are entitled to claim a...
The Canada Revenue Agency (CRA) has issued an updated guide to be used by taxpayers who are claiming medical expenses on their income tax returns for 2018. Individual taxpayers are entitled to claim a...
Unemployment rate unchanged in March
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change in the overall unemployment rate for the month of March. That rate remained at 5.8%. Employment ...
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change in the overall unemployment rate for the month of March. That rate remained at 5.8%. Employment ...
Prescribed interest rates for leasing for April
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the month April 2019. The prescribed rate for the upcoming month is 3.1%. A chart...
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the month April 2019. The prescribed rate for the upcoming month is 3.1%. A chart...
Prescribed interest rates for the first half of 2019
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2019, as well as the rates that will apply for the purpose of cal...
The Canada Revenue Agency has announced the interest rates which will apply to amounts owed to and by the Agency for the first half of 2019, as well as the rates that will apply for the purpose of cal...
CRA posts Tax Tips for students and seniors
The Canada Revenue Agency (CRA) has posted a number of Tax Tips for seniors and students on its website. Those Tax Tips list and explain particular credits, deductions, or benefits which are most like...
The Canada Revenue Agency (CRA) has posted a number of Tax Tips for seniors and students on its website. Those Tax Tips list and explain particular credits, deductions, or benefits which are most like...
Inflation increases by 1.5% in February
The most recent release of Statistics Canada’s Consumer Price Survey indicates that the rate of inflation for the month of February, as measured on a year-over-year basis, stood at 1.5%. The compara...
The most recent release of Statistics Canada’s Consumer Price Survey indicates that the rate of inflation for the month of February, as measured on a year-over-year basis, stood at 1.5%. The compara...
Budget 2019: Adjusting the Rules for Cannabis Taxation
Budget 2019 is proposing that the excise duty framework for cannabis products be amended to more effectively apply the excise duty on new classes of cannabis products, as well as to cannabis oils, whi...
Budget 2019 is proposing that the excise duty framework for cannabis products be amended to more effectively apply the excise duty on new classes of cannabis products, as well as to cannabis oils, whi...
Budget 2019: Expanding Health-Related Tax Relief
Budget 2019 proposes to expand health-related tax relief under the Goods and Services Tax/Harmonized Sales Tax (GST/HST) system to better meet the health care needs of Canadians by: providing GST/HST...
Budget 2019 proposes to expand health-related tax relief under the Goods and Services Tax/Harmonized Sales Tax (GST/HST) system to better meet the health care needs of Canadians by: providing GST/HST...
Budget 2019: Employee Stock Options
Budget 2019 announces the Government’s intent to limit the use of the current employee stock option tax regime and move toward aligning the tax treatment with the United States for employees of larg...
Budget 2019 announces the Government’s intent to limit the use of the current employee stock option tax regime and move toward aligning the tax treatment with the United States for employees of larg...
Budget 2019: Electronic Delivery of Requirements for Information
Budget 2019 proposes that the Canada Revenue Agency (CRA) will be allowed to send requirements for information electronically to a bank or credit union only if the bank or credit union notifies the CR...
Budget 2019 proposes that the Canada Revenue Agency (CRA) will be allowed to send requirements for information electronically to a bank or credit union only if the bank or credit union notifies the CR...
Budget 2019: Carrying on Business in a Tax-Free Savings Account
Budget 2019 proposes that the joint and several liability for tax owing on income from carrying on a business in a TFSA be extended to the TFSA holder. The joint and several liability of a trustee of ...
Budget 2019 proposes that the joint and several liability for tax owing on income from carrying on a business in a TFSA be extended to the TFSA holder. The joint and several liability of a trustee of ...
Budget 2019: Mutual Funds: Allocation to Redeemers Methodology
Budget 2019 proposes to introduce a new rule that would deny a mutual fund trust a deduction in respect of the portion of an allocation made to a unitholder on a redemption of a unit of the mutual fun...
Budget 2019 proposes to introduce a new rule that would deny a mutual fund trust a deduction in respect of the portion of an allocation made to a unitholder on a redemption of a unit of the mutual fun...
Budget 2019: Pensionable Service Under an Individual Pension Plan (IPP)
Budget 2019 proposes to prohibit Individual Pension Plans (IPPs) from providing retirement benefits in respect of past years of employment that were pensionable service under a defined benefit plan of...
Budget 2019 proposes to prohibit Individual Pension Plans (IPPs) from providing retirement benefits in respect of past years of employment that were pensionable service under a defined benefit plan of...
Budget 2019: Contributions to a Specified Multi-Employer Plan (SMEP) for Older Members
To bring the Specified Multi-Employer Plan (SMEP) rules in line with the pension tax provisions that apply to other defined benefit RPPs, Budget 2019 proposes to amend the tax rules to prohibit contri...
To bring the Specified Multi-Employer Plan (SMEP) rules in line with the pension tax provisions that apply to other defined benefit RPPs, Budget 2019 proposes to amend the tax rules to prohibit contri...
Budget 2019: Medical Expense Tax Credit
Amounts paid for cannabis products may be eligible for the medical expense tax credit where such products are purchased for a patient for medical purposes in accordance with the Access to Cannabis for...
Amounts paid for cannabis products may be eligible for the medical expense tax credit where such products are purchased for a patient for medical purposes in accordance with the Access to Cannabis for...
Budget 2019: Supporting Donations of Cultural Property
A recent court decision related to the interpretation of “national importance” has created uncertainty about the availability of these tax incentives. Budget 2019 proposes to introduce legislative...
A recent court decision related to the interpretation of “national importance” has created uncertainty about the availability of these tax incentives. Budget 2019 proposes to introduce legislative...
Budget 2019: Tax Measures for Kinship Care Providers, Tax Treatment of Financial Assistance Payments
Budget 2019 proposes to amend the Income Tax Act to clarify that financial assistance payments received by care providers under a kinship care program are neither taxable nor included in income for th...
Budget 2019 proposes to amend the Income Tax Act to clarify that financial assistance payments received by care providers under a kinship care program are neither taxable nor included in income for th...
Budget 2019: Tax Measures for Kinship Care Providers, Canada Workers Benefit
Budget 2019 proposes to amend the Income Tax Act to clarify that an individual may be considered to be the parent of a child in their care for the purpose of the Canada Workers Benefit, regardless of ...
Budget 2019 proposes to amend the Income Tax Act to clarify that an individual may be considered to be the parent of a child in their care for the purpose of the Canada Workers Benefit, regardless of ...
Budget 2019: Improvements to the Registered Disability Savings Plan (RDSP)
To ensure that the Registered Disability Savings Plan (RDSP) continues to respond to the needs of Canadians with disabilities, Budget 2019 proposes two changes that will better protect the long-term s...
To ensure that the Registered Disability Savings Plan (RDSP) continues to respond to the needs of Canadians with disabilities, Budget 2019 proposes two changes that will better protect the long-term s...
Budget 2019: Variable Payment Life Annuities
Budget 2019 proposes to amend the tax rules to permit PRPPs and defined contribution RPPs to provide a variable payment life annuity (VPLA) to members directly from the plan. A VPLA will provide payme...
Budget 2019 proposes to amend the tax rules to permit PRPPs and defined contribution RPPs to provide a variable payment life annuity (VPLA) to members directly from the plan. A VPLA will provide payme...
Budget 2019: Advanced Life Deferred Annuities
Budget 2019 proposes to amend the tax rules to permit an advanced life deferred annuity (ALDA) to be a qualifying annuity purchase, or a qualified investment, under certain registered plans. An ALDA w...
Budget 2019 proposes to amend the tax rules to permit an advanced life deferred annuity (ALDA) to be a qualifying annuity purchase, or a qualified investment, under certain registered plans. An ALDA w...
Budget 2019: Change in Use Rules for Multi-Unit Residential Properties
To improve the consistency of the tax treatment of owners of multi-unit residential properties in comparison to owners of single-unit residential properties, Budget 2019 proposes to allow a taxpayer t...
To improve the consistency of the tax treatment of owners of multi-unit residential properties in comparison to owners of single-unit residential properties, Budget 2019 proposes to allow a taxpayer t...
Budget 2019: Modernizing the Home Buyers’ Plan (HBP)
Budget 2019 proposes to increase the Home Buyers’ Plan (HBP) withdrawal limit to $35,000. This would be available for withdrawals made after March 19, 2019. Budget 2019 also proposes to extend acces...
Budget 2019 proposes to increase the Home Buyers’ Plan (HBP) withdrawal limit to $35,000. This would be available for withdrawals made after March 19, 2019. Budget 2019 also proposes to extend acces...
Budget 2019: Canada Training Credit
Budget 2019 proposes this new, non-taxable credit that would help Canadians pay for training fees. Every year, eligible workers between the ages of 25 and 64 would accumulate a credit balance of $250 ...
Budget 2019 proposes this new, non-taxable credit that would help Canadians pay for training fees. Every year, eligible workers between the ages of 25 and 64 would accumulate a credit balance of $250 ...
Budget 2019: Strengthening Canada’s International Tax Rules
Budget 2019 proposes to: extend the foreign affiliate dumping rules in the Income Tax Act to prevent a corporation resident in Canada that is controlled by a non-resident individual or trust from red...
Budget 2019 proposes to: extend the foreign affiliate dumping rules in the Income Tax Act to prevent a corporation resident in Canada that is controlled by a non-resident individual or trust from red...
Budget 2019: Strengthening Beneficial Ownership Transparency
In Budget 2019, the Government proposes further amendments to the Income Tax Act to make the beneficial ownership information maintained by federally incorporated corporations more readily available t...
In Budget 2019, the Government proposes further amendments to the Income Tax Act to make the beneficial ownership information maintained by federally incorporated corporations more readily available t...
Budget 2019: Character Conversion Transactions
Budget 2019 proposes an amendment that introduces an additional qualification for the commercial transaction exception in the definition “derivative forward agreement” as the exception applies to ...
Budget 2019 proposes an amendment that introduces an additional qualification for the commercial transaction exception in the definition “derivative forward agreement” as the exception applies to ...
Budget 2019: Canadian-Belgian Co-productions - Canadian Film or Video Production Tax Credit
Budget 2019 proposes to add The Memorandum of Understanding between the Government of Canada and the Respective Governments of the Flemish, French and German-speaking Communities of the Kingdom of Bel...
Budget 2019 proposes to add The Memorandum of Understanding between the Government of Canada and the Respective Governments of the Flemish, French and German-speaking Communities of the Kingdom of Bel...
Budget 2019: Improving Support for Small, Growing Companies
Budget 2019 proposes to repeal the use of taxable income as a factor in determining a CCPC’s annual expenditure limit for the purpose of the enhanced SR&ED tax credit. As a result, small CCPCs w...
Budget 2019 proposes to repeal the use of taxable income as a factor in determining a CCPC’s annual expenditure limit for the purpose of the enhanced SR&ED tax credit. As a result, small CCPCs w...
Budget 2019: Small Business Deduction - Farmers and Fishers
Budget 2019 proposes to eliminate the requirement that sales be to a farming or fishing cooperative corporation in order to be excluded from specified corporate income. As such, this exclusion will ap...
Budget 2019 proposes to eliminate the requirement that sales be to a farming or fishing cooperative corporation in order to be excluded from specified corporate income. As such, this exclusion will ap...
Budget 2019: Supporting Business Investment in Zero-Emission Vehicles
Budget 2019 proposes that these vehicles be eligible for a full tax write-off in the year they are put in use. Qualifying vehicles will include electric battery, plug-in hybrid (with a battery capacit...
Budget 2019 proposes that these vehicles be eligible for a full tax write-off in the year they are put in use. Qualifying vehicles will include electric battery, plug-in hybrid (with a battery capacit...
Budget 2019: Support for Canadian Journalism
Budget 2019 proposes to introduce three new tax measures to support Canadian journalism: allowing journalism organizations to register as qualified donees; a refundable labour tax credit for qualifyi...
Budget 2019 proposes to introduce three new tax measures to support Canadian journalism: allowing journalism organizations to register as qualified donees; a refundable labour tax credit for qualifyi...
Unemployment rate unchanged in February
The most recent release of Statistics Canada’s Labour Force survey shows that, while the rate of unemployment for the month of February was unchanged, employment grew by 56,000 positions. The unempl...
The most recent release of Statistics Canada’s Labour Force survey shows that, while the rate of unemployment for the month of February was unchanged, employment grew by 56,000 positions. The unempl...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on March 6, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 2% I...
In its regularly scheduled interest rate announcement made on March 6, the Bank of Canada indicated that, in its view, no change was needed to current rates. Accordingly, the Bank Rate remains at 2% I...
Inflation down to 1.4% for January 2019
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows a drop in the rate of inflation for the month of January. That rate, as measured on a year-over-year basis, was 1.4%. ...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows a drop in the rate of inflation for the month of January. That rate, as measured on a year-over-year basis, was 1.4%. ...
First instalment payment of 2019 due March 15
The first instalment payment of individual income taxes for the 2019 tax year is due on or before Friday March 15, 2019. Individuals who have previously paid tax by instalments will have received an i...
The first instalment payment of individual income taxes for the 2019 tax year is due on or before Friday March 15, 2019. Individuals who have previously paid tax by instalments will have received an i...
CRA providing extended hours for individual tax help line
The Canada Revenue Agency (CRA) has announced that its Individual Income Tax Enquiries line (1-800-959-8281) is now available for extended hours. Until April 30, 2019, telephone agents will be availab...
The Canada Revenue Agency (CRA) has announced that its Individual Income Tax Enquiries line (1-800-959-8281) is now available for extended hours. Until April 30, 2019, telephone agents will be availab...
Date announced for 2019-20 federal Budget
The Minister of Finance has announced that the 2019-20 federal Budget will be brought down on Tuesday, March 19, 2019. Once the Budget is released, at around 4 p.m., the Budget Papers will be posted o...
The Minister of Finance has announced that the 2019-20 federal Budget will be brought down on Tuesday, March 19, 2019. Once the Budget is released, at around 4 p.m., the Budget Papers will be posted o...
Obtaining a 2018 tax return form and guide
The 2018 T1 Individual Income Tax Return and Guide package is now available on the Canada Revenue Agency (CRA) website at https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packag...
The 2018 T1 Individual Income Tax Return and Guide package is now available on the Canada Revenue Agency (CRA) website at https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packag...
NETFILE available for filing of 2018 individual income tax returns
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns is available as of Monday, February 18, 2019. The current NETFILE service (which ...
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns is available as of Monday, February 18, 2019. The current NETFILE service (which ...
CRA issues tax filing tips for students
The Canada Revenue Agency (CRA) has issued a Tax Tip for post-secondary students and graduates who will be filing an income tax return for the 2018 tax year. That Tax Tip, which can be found on the CR...
The Canada Revenue Agency (CRA) has issued a Tax Tip for post-secondary students and graduates who will be filing an income tax return for the 2018 tax year. That Tax Tip, which can be found on the CR...
Small increase in unemployment rate for January
During the month of January, the number of people employed in Canada rose by 67,000, with that figure attributable for most part to increased employment of those aged 15 to 24 and those working in the...
During the month of January, the number of people employed in Canada rose by 67,000, with that figure attributable for most part to increased employment of those aged 15 to 24 and those working in the...
Prescribed interest rate for leasing
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of March 2019. That prescribed rate for the month of March will be...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of March 2019. That prescribed rate for the month of March will be...
CRA issues tax filing tips for seniors
The Canada Revenue Agency (CRA) has posted a Tax Tip which lists the tax deductions and credits which are most relevant to seniors, and which can be claimed by eligible seniors when preparing and fili...
The Canada Revenue Agency (CRA) has posted a Tax Tip which lists the tax deductions and credits which are most relevant to seniors, and which can be claimed by eligible seniors when preparing and fili...
NETFILE service for 2018 returns available February 18
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns for the 2018 tax year will be available online on Monday February 18, 2019. The N...
The Canada Revenue Agency (CRA) has announced that its NETFILE service for the filing of individual income tax returns for the 2018 tax year will be available online on Monday February 18, 2019. The N...
Upcoming changes to the CRA’s e-mail service
Effective as of February 11, 2019, the Canada Revenue Agency (CRA) will be merging its online mail and account alerts services. Notification of the change is being sent to users of those services, and...
Effective as of February 11, 2019, the Canada Revenue Agency (CRA) will be merging its online mail and account alerts services. Notification of the change is being sent to users of those services, and...
Pre-Budget consultations ending on January 29
Finance Canada has issued a reminder that the current consultation process with respect to the upcoming 2019-20 federal Budget will end on Tuesday, January 29, 2019. Interested stakeholders can make t...
Finance Canada has issued a reminder that the current consultation process with respect to the upcoming 2019-20 federal Budget will end on Tuesday, January 29, 2019. Interested stakeholders can make t...
Inflation rate increases to 2% in December
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation, as measured on a year-over-year basis, stood at 2% during the month of December 2018. The equiva...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation, as measured on a year-over-year basis, stood at 2% during the month of December 2018. The equiva...
Finance announces automobile allowance limits and rates for 2019
Finance Canada has announced the automobile deduction limits and expense benefit rates which will apply to businesses and their employees during the 2019 taxation year. Most of the limits which applie...
Finance Canada has announced the automobile deduction limits and expense benefit rates which will apply to businesses and their employees during the 2019 taxation year. Most of the limits which applie...
Bank of Canada maintains interest rates at current level
In its regularly scheduled interest rate announcement made on January 9, 2019, the Bank of Canada indicated that no change would be made to current interest rates. The Bank Rate therefore remains at 2...
In its regularly scheduled interest rate announcement made on January 9, 2019, the Bank of Canada indicated that no change would be made to current interest rates. The Bank Rate therefore remains at 2...
Prescribed interest rates for leasing for January and February
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the months of January and February 2019.The prescribed rate for January is ...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will be in effect during the months of January and February 2019.The prescribed rate for January is ...
Prescribed interest rates for the first quarter of 2019
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2019, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2019, as well as the rates that will apply for the purpo...
Canada Pension Plan changes to take effect January 1, 2019
Over the next seven years, significant changes will be made to the Canada Pension Plan. Those changes will result, overall, in an increase of about 50% in the maximum retirement benefit. The first suc...
Over the next seven years, significant changes will be made to the Canada Pension Plan. Those changes will result, overall, in an increase of about 50% in the maximum retirement benefit. The first suc...
Inflation for November down to 1.7%
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of November, as measured on a year-over-year basis, stood at 1.7%. The comparable r...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of November, as measured on a year-over-year basis, stood at 1.7%. The comparable r...
NETFILE service for prior years available until January 25, 2019
Taxpayers who have not yet filed their individual income tax returns for 2017 (or the three prior years) can file those returns on NETFILE until Friday, January 25, 2019. Until that date, the Canada R...
Taxpayers who have not yet filed their individual income tax returns for 2017 (or the three prior years) can file those returns on NETFILE until Friday, January 25, 2019. Until that date, the Canada R...
Prescribed leasing interest rate for January 2019
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of January 2019. The prescribed rate for that month will be 3.39%....
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of January 2019. The prescribed rate for that month will be 3.39%....
December 31, 2018 deadline for 2008 tax fairness applications
Where taxpayers fail to meet their tax filing or payment obligations, penalties and interest are usually levied for that failure. However, the Minister of National Revenue has the authority to forgive...
Where taxpayers fail to meet their tax filing or payment obligations, penalties and interest are usually levied for that failure. However, the Minister of National Revenue has the authority to forgive...
Unemployment rate for November at 42-year low
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of November was the lowest recorded since 1976. The unemployment rate for the month,...
The most recent release of Statistics Canada’s Labour Force Survey shows that the unemployment rate for the month of November was the lowest recorded since 1976. The unemployment rate for the month,...
Bank of Canada maintains interest rates at current level
In its regularly scheduled interest rate announcement made on December 5, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate rem...
In its regularly scheduled interest rate announcement made on December 5, the Bank of Canada indicated that, in its view, no change to current interest rates was needed. Accordingly, the Bank Rate rem...
Personal tax credit amounts for 2019
The federal government will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $12,069 Spouse or common law partner amount …...
The federal government will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $12,069 Spouse or common law partner amount …...
Inflation rate up slightly in October
The most recent release of Statistics Canada’s Consumer Price Index shows a slight increase in the rate of inflation rate for the month of October. That rate rose 2.4%, following a 2.2% increase for...
The most recent release of Statistics Canada’s Consumer Price Index shows a slight increase in the rate of inflation rate for the month of October. That rate rose 2.4%, following a 2.2% increase for...
Finance announces start of 2019-20 federal Budget consultation process
Finance Canada has announced details of the consultation process leading up the release of the 2019-20 Federal Budget next spring. The budget consultation process will include both in-person and digit...
Finance Canada has announced details of the consultation process leading up the release of the 2019-20 Federal Budget next spring. The budget consultation process will include both in-person and digit...
New tax credits to support news organizations
In the 2018-19 Fall Economic Statement, the Minister of Finance announced that three new tax initiatives would be introduced to support both traditional and digital news organizations. Those changes w...
In the 2018-19 Fall Economic Statement, the Minister of Finance announced that three new tax initiatives would be introduced to support both traditional and digital news organizations. Those changes w...
Federal government announces new business tax incentives
In the Fall Economic Statement issued on November 21, the Minister of Finance announced new tax measures that would: allow businesses to immediately write off the cost of machinery and equipment used...
In the Fall Economic Statement issued on November 21, the Minister of Finance announced new tax measures that would: allow businesses to immediately write off the cost of machinery and equipment used...
CRA issues 2018 employer’s guide to taxable benefits
Some of the non-monetary benefits which employers provide to their employees must be included in the employee’s income and taxed as such. Each year, employers must include the amount of any such tax...
Some of the non-monetary benefits which employers provide to their employees must be included in the employee’s income and taxed as such. Each year, employers must include the amount of any such tax...
CRA announces enhancements to BizApp
The Canada Revenue Agency (CRA) provides a mobile web app for small business owners and sole proprietors which enables them to manage their business tax accounts on any browser-enabled mobile device. ...
The Canada Revenue Agency (CRA) provides a mobile web app for small business owners and sole proprietors which enables them to manage their business tax accounts on any browser-enabled mobile device. ...
Unemployment rate down slightly for September
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in unemployment during the month of September. That rate stood at 5.8%, down 0.1% from the rate posted for Au...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in unemployment during the month of September. That rate stood at 5.8%, down 0.1% from the rate posted for Au...
Canada Pension Plan contribution rates for 2019
The Canada Revenue Agency has announced the contribution rates and amounts for the Canada Pension Plan which will apply during the 2019 calendar year, and that announcement can be found at https://www...
The Canada Revenue Agency has announced the contribution rates and amounts for the Canada Pension Plan which will apply during the 2019 calendar year, and that announcement can be found at https://www...
Prescribed interest rate for leasing for November
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of November. The prescribed rate for that month will be 3.43%. A c...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of November. The prescribed rate for that month will be 3.43%. A c...
CRA announces contingency plans for postal disruption
The Canada Revenue Agency (CRA) (as well as other federal government departments and agencies) has issued information indicating how government payments will be handled during the current postal disru...
The Canada Revenue Agency (CRA) (as well as other federal government departments and agencies) has issued information indicating how government payments will be handled during the current postal disru...
Inflation rate at 2.2% for September
The most recent release of Statistics Canada’s Consumer Price Index shows that the inflation rate for the month of September stood at 2.2%, as measured on a year-over-year basis. The comparable rate...
The most recent release of Statistics Canada’s Consumer Price Index shows that the inflation rate for the month of September stood at 2.2%, as measured on a year-over-year basis. The comparable rate...
Bank of Canada raises interest rates again
In its regularly scheduled interest rate announcement made on October 24, the Bank of Canada once again increased the bank rate, which now stands at 2%.In the press release announcing the increase, wh...
In its regularly scheduled interest rate announcement made on October 24, the Bank of Canada once again increased the bank rate, which now stands at 2%.In the press release announcing the increase, wh...
OAS payment rates for the fourth quarter of 2018
The federal government has announced the maximum Old Age Security (OAS) benefit amount which will be paid to eligible recipients in the last quarter — October, November, and December — of 2018. Th...
The federal government has announced the maximum Old Age Security (OAS) benefit amount which will be paid to eligible recipients in the last quarter — October, November, and December — of 2018. Th...
CRA issues updated forms for reduced source deductions
In some circumstances, taxpayers are entitled to request a reduction in the amount of tax being deducted at source from their income. An employee can request that the amount of income tax being deduct...
In some circumstances, taxpayers are entitled to request a reduction in the amount of tax being deducted at source from their income. An employee can request that the amount of income tax being deduct...
CRA to hold webinar on CPP changes for the self-employed
A number of changes have been made over the past few years to the Canada Pension Plan (CPP), with those changes generally providing greater flexibility to CPP contributors. Some of those changes parti...
A number of changes have been made over the past few years to the Canada Pension Plan (CPP), with those changes generally providing greater flexibility to CPP contributors. Some of those changes parti...
Slight decline in unemployment rate for September
The most recent release of Statistics Canada’s Labour Force Survey shows a small decrease in the overall unemployment rate for the month of September. That rate decreased from the 6% rate recorded f...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decrease in the overall unemployment rate for the month of September. That rate decreased from the 6% rate recorded f...
Prescribed interest rate for leasing for October
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of October. The prescribed rate for that month will be 3.33%. A ch...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of October. The prescribed rate for that month will be 3.33%. A ch...
Prescribed interest rates for the fourth quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the fourth quarter of 2018, as well as the rates that will apply for the purp...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the fourth quarter of 2018, as well as the rates that will apply for the purp...
NETFILE still available for filing of 2017 returns
While the deadline for filing of individual income tax returns for the 2017 tax year (for both employees and the self-employed) has passed, the Canada Revenue Agency’s (CRA’s) NETFILE service thro...
While the deadline for filing of individual income tax returns for the 2017 tax year (for both employees and the self-employed) has passed, the Canada Revenue Agency’s (CRA’s) NETFILE service thro...
Inflation rate down slightly in August
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of August 2018 stood at 2.8%, as measured on a year-over-year basis. The comparable...
The most recent release of Statistics Canada’s Consumer Price Index shows that the rate of inflation for the month of August 2018 stood at 2.8%, as measured on a year-over-year basis. The comparable...
CRA updates fact sheet for temporary Canadian workers
Canada’s tax system is one based on residency, and individuals who are considered to be residents of Canada are subject to federal and provincial tax. The federal government has issued a fact sheet ...
Canada’s tax system is one based on residency, and individuals who are considered to be residents of Canada are subject to federal and provincial tax. The federal government has issued a fact sheet ...
Employment insurance premium rate for 2019
The Minister of Finance has announced that the employment insurance premium rate payable by employees and the self-employed for the 2019 tax year will be reduced. The premium rate for that year will b...
The Minister of Finance has announced that the employment insurance premium rate payable by employees and the self-employed for the 2019 tax year will be reduced. The premium rate for that year will b...
CRA issues updated guide to federal and provincial child benefits
The federal government has updated and re-issued its guide to child benefits paid by the federal and several provincial governments. The updated guide (T4114), which is available on the Canada Revenue...
The federal government has updated and re-issued its guide to child benefits paid by the federal and several provincial governments. The updated guide (T4114), which is available on the Canada Revenue...
Slight increase in unemployment rate for August
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate posted for the month of August. That rate rose by 0.2%, from 5.8% to 6%. Most of th...
The most recent release of Statistics Canada’s Labour Force Survey shows a small increase in the unemployment rate posted for the month of August. That rate rose by 0.2%, from 5.8% to 6%. Most of th...
Relief available to taxpayers affected by wildfires
The Canada Revenue Agency (CRA) can provide interest and penalty relief to taxpayers who are unable to meet their tax filing or payment obligations due to circumstances beyond their control, including...
The Canada Revenue Agency (CRA) can provide interest and penalty relief to taxpayers who are unable to meet their tax filing or payment obligations due to circumstances beyond their control, including...
Bank of Canada leaves interest rates unchanged
In its scheduled interest rate announcement made on September 5, the Bank indicated that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 1.75%. The Bank acknow...
In its scheduled interest rate announcement made on September 5, the Bank indicated that no change would be made to current interest rates. Accordingly, the Bank Rate remains at 1.75%. The Bank acknow...
CRA issues Tax Tip on benefit review process
Each year the Canada Revenue Agency (CRA) sends a letter and questionnaire to approximately 350,000 taxpayers, seeking to determine whether such taxpayers are receiving the correct tax credits and ben...
Each year the Canada Revenue Agency (CRA) sends a letter and questionnaire to approximately 350,000 taxpayers, seeking to determine whether such taxpayers are receiving the correct tax credits and ben...
Upcoming tax instalment due date for individuals
The due date for the third instalment payment of 2018 income taxes by individuals falls on September 15, 2018. As that date is a Saturday, instalment payments will be considered to be made on time if ...
The due date for the third instalment payment of 2018 income taxes by individuals falls on September 15, 2018. As that date is a Saturday, instalment payments will be considered to be made on time if ...
Amendments to be made to rules on political activities of charities
The federal government has announced that changes will be made to the administrative rules governing the extent to which charities can engage in non-partisan political activities. The intended amendme...
The federal government has announced that changes will be made to the administrative rules governing the extent to which charities can engage in non-partisan political activities. The intended amendme...
Rate of inflation at 3% for July
The most recent release of Statistics Canada’s Consumer Price Survey shows a significant increase in inflation for the month of July. That rate, as measured on a year-over-year basis, stood at 3%. T...
The most recent release of Statistics Canada’s Consumer Price Survey shows a significant increase in inflation for the month of July. That rate, as measured on a year-over-year basis, stood at 3%. T...
Unemployment rate down slightly for July
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall rate of unemployment was down slightly for the month of July. That rate stood at 5.8%, down by 0.2% from...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the overall rate of unemployment was down slightly for the month of July. That rate stood at 5.8%, down by 0.2% from...
Finance announces lower payment card fees for small businesses
The Minister of Finance has announced that two major payment card networks have agreed to lower costs charged to small and medium-sized businesses. Both VISA and Mastercard have agreed to reduce domes...
The Minister of Finance has announced that two major payment card networks have agreed to lower costs charged to small and medium-sized businesses. Both VISA and Mastercard have agreed to reduce domes...
CRA podcasts and webinars for small businesses
The Canada Revenue Agency (CRA) prepares and posts on its website a number of podcasts and webinars covering tax and tax-related issues of particular interest to small businesses. There are currently ...
The Canada Revenue Agency (CRA) prepares and posts on its website a number of podcasts and webinars covering tax and tax-related issues of particular interest to small businesses. There are currently ...
Bank of Canada 2019 interest rate announcement dates
The Bank of Canada has issued a listing of the dates on which it will make announcements during the 2019 calendar year with respect to current interest rates. There are eight such interest rate announ...
The Bank of Canada has issued a listing of the dates on which it will make announcements during the 2019 calendar year with respect to current interest rates. There are eight such interest rate announ...
Upcoming changes to mortgage lending assessments for self-employed taxpayers
The Canada Mortgage and Housing Corporation (CMHC) has announced that, effective as of October 1, 2018, changes will be made to the process by which self-employed taxpayers are assessed for mortgage f...
The Canada Mortgage and Housing Corporation (CMHC) has announced that, effective as of October 1, 2018, changes will be made to the process by which self-employed taxpayers are assessed for mortgage f...
CRA issues new direct deposit form for businesses
The Canada Revenue Agency (CRA) has updated and re-issued its Form RC366, which allows businesses to have amounts owed to them deposited directly to a bank account. The updated form can be used to eit...
The Canada Revenue Agency (CRA) has updated and re-issued its Form RC366, which allows businesses to have amounts owed to them deposited directly to a bank account. The updated form can be used to eit...
CRA issues updated guide to RESPs
The Canada Revenue Agency (CRA) has updated and re-issued its publication RC4092(E) on Registered Education Savings Plans. The updated publication incorporates changes, originally announced as part of...
The Canada Revenue Agency (CRA) has updated and re-issued its publication RC4092(E) on Registered Education Savings Plans. The updated publication incorporates changes, originally announced as part of...
Inflation rate up by 2.5% in June
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June, as measured on a year-over-year basis, stood at 2.5%. That change ...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of June, as measured on a year-over-year basis, stood at 2.5%. That change ...
Prescribed interest rates for leasing rules
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply during the months of July and August 2018. Those prescribed rates will be 3.28% for July ...
The Canada Revenue Agency (CRA) has announced the prescribed interest rates for leasing rules which will apply during the months of July and August 2018. Those prescribed rates will be 3.28% for July ...
CRA issues updated guide to taxation of RRIF on death
The Canada Revenue Agency has updated and re-issued its publication outlining the tax treatment of funds held in a RRIF on the death of the RRIF annuitant. The updated publication (RC4178(E)) also rev...
The Canada Revenue Agency has updated and re-issued its publication outlining the tax treatment of funds held in a RRIF on the death of the RRIF annuitant. The updated publication (RC4178(E)) also rev...
Slight increase in unemployment rate for June
While employment rose by 32,000 during the month of June, the unemployment rate was also up, by 0.2%, a result attributed by Statistics Canada an increase in the number of individuals seeking to enter...
While employment rose by 32,000 during the month of June, the unemployment rate was also up, by 0.2%, a result attributed by Statistics Canada an increase in the number of individuals seeking to enter...
Bank of Canada increases benchmark interest rate
In its regularly scheduled interest rate announcement made on July 11, the Bank of Canada indicated that it was increasing its benchmark interest rate by one-quarter of a percentage point. Accordingly...
In its regularly scheduled interest rate announcement made on July 11, the Bank of Canada indicated that it was increasing its benchmark interest rate by one-quarter of a percentage point. Accordingly...
CRA issues Tax Tip on return review process
Each year, the Canada Revenue Agency reviews approximately 3 million returns which have already been filed and assessed. Generally, such reviews are carried out to confirm income amounts reported, and...
Each year, the Canada Revenue Agency reviews approximately 3 million returns which have already been filed and assessed. Generally, such reviews are carried out to confirm income amounts reported, and...
Old Age Security benefits to increase by 1.2% in third quarter
Old Age Security (“OAS”) benefits received by Canadians are indexed to changes in the overall Consumer Price Index, and are adjusted each quarter to reflect increases in that Index.The federal gov...
Old Age Security (“OAS”) benefits received by Canadians are indexed to changes in the overall Consumer Price Index, and are adjusted each quarter to reflect increases in that Index.The federal gov...
No change to inflation rate for May
The most recent release of Statistics Canada’s Consumer Price Index indicates the rate of inflation for the month of May stood at 2.2%. The same rate was recorded for the month of April, and both ra...
The most recent release of Statistics Canada’s Consumer Price Index indicates the rate of inflation for the month of May stood at 2.2%. The same rate was recorded for the month of April, and both ra...
CRA issues updated source deductions online calculator
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by employers in calculating employee source deductions as of July 1, 2018. The updated version of that...
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by employers in calculating employee source deductions as of July 1, 2018. The updated version of that...
Prescribed interest rate for leasing for July
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July. The prescribed rate for that month will be 3.28%. A chart...
The Canada Revenue Agency (CRA) has announced the prescribed interest rate for leasing rules which will be in effect during the month of July. The prescribed rate for that month will be 3.28%. A chart...
Prescribed interest rates for the third quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the third quarter of 2018, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the third quarter of 2018, as well as the rates that will apply for the purpo...
CRA updates and re-issues Notice of Objection form
The Canada Revenue Agency has updated and re-issued its standard form for filing an objection to a Notice of Assessment or Reassessment. The 2018 T-400A E, Notice of Objection, can be found on the CRA...
The Canada Revenue Agency has updated and re-issued its standard form for filing an objection to a Notice of Assessment or Reassessment. The 2018 T-400A E, Notice of Objection, can be found on the CRA...
No change in unemployment rate for May
The most recent release of Statistics Canada’s Labour Force Survey shows little change in unemployment during the month of May. For the fourth consecutive month, that rate stood at 5.8%. There was s...
The most recent release of Statistics Canada’s Labour Force Survey shows little change in unemployment during the month of May. For the fourth consecutive month, that rate stood at 5.8%. There was s...
June 15 filing deadline for self-employed taxpayers
The filing deadline for individual income tax returns for the 2017 year for self-employed individuals and their spouses is midnight Friday June 15, 2018. Returns can be filed using the Canada Revenue ...
The filing deadline for individual income tax returns for the 2017 year for self-employed individuals and their spouses is midnight Friday June 15, 2018. Returns can be filed using the Canada Revenue ...
Individual income tax instalment payment due June 15
For Canadians who make quarterly instalment payments of personal income tax, the next due date for such payment is Friday June 15, 2018. The Canada Revenue Agency has posted a notice on its website in...
For Canadians who make quarterly instalment payments of personal income tax, the next due date for such payment is Friday June 15, 2018. The Canada Revenue Agency has posted a notice on its website in...
Taxpayer relief available for Canadians affected by spring floods
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who have been affected by this spring’s floods of the availability of administrative tax relief. Under the federal government’s T...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who have been affected by this spring’s floods of the availability of administrative tax relief. Under the federal government’s T...
Bank of Canada maintains interest rates at current level
In its regularly scheduled interest rate announcement made on May 30, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate remains...
In its regularly scheduled interest rate announcement made on May 30, the Bank of Canada indicated that, in its view, no change was needed to current interest rates. Accordingly, the Bank Rate remains...
CRA issues updated payroll deduction formulas for July 1, 2018
The Canada Revenue Agency (CRA) has issued updated payroll deduction formulas for use by employers for payroll periods beginning after July 1, 2018. The updated formulas reflect changes in provincial ...
The Canada Revenue Agency (CRA) has issued updated payroll deduction formulas for use by employers for payroll periods beginning after July 1, 2018. The updated formulas reflect changes in provincial ...
Inflation rate for April at 2.2%
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of April stood at 2.2%, as measured on a year-over-year basis. The rate for...
The most recent release of Statistics Canada’s Consumer Price Index shows that the overall rate of inflation for the month of April stood at 2.2%, as measured on a year-over-year basis. The rate for...
Changes to distribution of GST/HST reporting/remittance forms for small businesses
The Canada Revenue Agency (CRA) will be making changes to its distribution method for GST/HST reporting and remittance forms for small businesses, with those changes generally directed toward reducing...
The Canada Revenue Agency (CRA) will be making changes to its distribution method for GST/HST reporting and remittance forms for small businesses, with those changes generally directed toward reducing...
Unemployment rate unchanged in April
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change during the month of April to either employment figures or the overall unemployment rate. That un...
The most recent release of Statistics Canada’s Labour Force Survey indicates that there was no change during the month of April to either employment figures or the overall unemployment rate. That un...
CRA tax topic podcasts available for download
The Canada Revenue Agency prepares and posts podcasts on a number of different tax topics, both individual and corporate. Those podcasts are available for download from the CRA website. The current se...
The Canada Revenue Agency prepares and posts podcasts on a number of different tax topics, both individual and corporate. Those podcasts are available for download from the CRA website. The current se...
Prescribed interest rates for May and June
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the months of May and June 2018. Those prescribed rates will be 3.22% during the ...
The Canada Revenue Agency has announced the prescribed interest rates for leasing rules which will be in effect during the months of May and June 2018. Those prescribed rates will be 3.22% during the ...
Getting information about your tax refund
Taxpayers who have filed their return for the 2017 tax year and are expecting to receive a refund can track the status of that refund payment through a toll-free telephone line. That line, the CRA’s...
Taxpayers who have filed their return for the 2017 tax year and are expecting to receive a refund can track the status of that refund payment through a toll-free telephone line. That line, the CRA’s...
CRA issues warning on filing season tax scams
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of the need to be particularly vigilant with respect to fraudulent text, telephone, and e-mail communications, which increase during t...
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of the need to be particularly vigilant with respect to fraudulent text, telephone, and e-mail communications, which increase during t...
Inflation rate for March reaches 2.3%
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation stood at 2.3% during the month of March 2018, as measured on a year-over-year basis. The year...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation stood at 2.3% during the month of March 2018, as measured on a year-over-year basis. The year...
April 30 due date for all 2017 individual taxes owed
The Canada Revenue Agency (CRA) has issued a reminder that all individual income tax balances owed for the 2017 tax year must be paid on or before Monday April 30, 2018. April 30 is also the deadline ...
The Canada Revenue Agency (CRA) has issued a reminder that all individual income tax balances owed for the 2017 tax year must be paid on or before Monday April 30, 2018. April 30 is also the deadline ...
Unemployment rate unchanged in March
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of March 2018 stood at 5.8%. The same rate was recorded for February 2018. Employ...
The most recent release of Statistics Canada’s Labour Force Survey shows that the rate of unemployment for the month of March 2018 stood at 5.8%. The same rate was recorded for February 2018. Employ...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on April 18, the Bank of Canada indicated that no change was required to current interest rates. Accordingly, the Bank Rate will remain at 1....
In its regularly scheduled interest rate announcement made on April 18, the Bank of Canada indicated that no change was required to current interest rates. Accordingly, the Bank Rate will remain at 1....
ReFILE service for changing individual income tax returns
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
It is not uncommon for taxpayers to discover an error or omission in an already-filed return, and the usual means by which such error can be corrected is the filing of a T1-Adjustment form. While a co...
CRA issues reminder of taxability of income from “sharing economy”
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. Although...
The Canada Revenue Agency (CRA) has issued a reminder to taxpayers who receive income from the “sharing economy” that such income is taxable and must be reported on the annual tax return. Although...
Bank of Canada interest rate announcement dates for 2018
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; September 5, 201...
The Bank of Canada’s regularly scheduled interest rate announcement dates for the remainder of calendar year 2018 are as follows: April 18, 2018; May 30, 2018; July 11, 2018; September 5, 201...
CRA issues update on home sale reporting requirements
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 tax ye...
Proceeds received from the sale of one’s principal residence are, in most circumstances, not taxable, as such sales are eligible for the principal residence exemption. However, as of the 2016 tax ye...
Significant increase in inflation rate for February
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1.7%. ...
The most recent release of Statistics Canada’s Consumer Price Index shows a sharp increase in inflation for the month of February. That rate stood at 2.2%, while the rate for January 2018 was 1.7%. ...
Prescribed interest rates for second quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the CRA for the second quarter of 2018, as well as the rates that will apply for the purpose...
CRA issues warning on tax scams
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authorities, a...
While taxpayers fall victim to tax scams year-round, such scams are more prevalent during and just following tax filing season. During that time, taxpayers expect to hear from the tax authorities, a...
CRA publication on changes to Voluntary Disclosure Program available online
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in defau...
In December 2017, the Canada Revenue Agency (CRA) announced that substantive changes would be made to the Agency’s Voluntary Disclosure Program (VDP). That program enables taxpayers who are in defau...
CRA issues e-filers manual for 2017 returns
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
The Canada Revenue Agency has issued its Guide RC4018, Electronic Filers Manual for 2017 Income Tax and Benefit Returns. That guide is for use by certified e-filers in filing individual income tax ret...
Unemployment rate down slightly in February
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the month of...
The most recent release of Statistics Canada’s Labour Force Survey shows a small decline in the overall unemployment rate for the month of February 2018. That rate declined from 5.9% in the month of...
Increase in Consumer Price Index for January
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. Inflat...
The most recent release of Statistics Canada’s Consumer Price Index indicates that the rate of inflation for the month of January 2018 stood at 1.7%. The rate for the previous month was 1.9%. Inflat...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
In its regularly scheduled interest rate announcement made on March 7, the Bank of Canada indicated that no change would be made to current interest rates. Accordingly, the bank rate remains at 1.5%. ...
Budget 2018 - Personal tax credits
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018: No personal tax credits have been repealed, and there are no new personal tax rate changes....
Budget 2018 - Foreign-born Status Indians
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018: Foreign-born Status Indians may now be eligible for child benefits, retroactive to 2005....
Budget 2018 - Service animals
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018: Eligibility of specially trained service animals will be expanded for the purposes of the medical expense tax credit....
Budget 2018 - Canada Workers Benefit
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018: Taxpayers will no longer need to apply when filing their return in order to receive the Canada Workers Benefit....
Budget 2018 - Working Income Tax Benefit amounts
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018: The Working Income Tax Benefit amounts are enhanced as of 2019, and the credit is renamed the Canada Workers Benefit...
Budget 2018 - Non-resident surplus stripping rules
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018: The non-resident surplus stripping rules are tightened to address the use of partnerships and trusts....
Budget 2018 - CRA compliance orders
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018: Where a CRA compliance order or information requirement is contested, a new rule will “stop the clock” to prevent the tax year from being statute barred....
Budget 2018 - RDTOH
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018: A corporation will have two RDTOH accounts going forward: eligible and non-eligible RDTOH....
Budget 2018 - Investment income
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018: A corporation with $100,000 of investment income will have its small business limit reduced to $250,000....
Budget 2018 - Corporations' small business limit
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Budget 2018: A corporation’s small business limit will be reduced where the corporation earns investment income exceeding $50,000....
Extended hours for CRA telephone help line
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
The Canada Revenue Agency (CRA) provides a 1-800 telephone service to provide tax information to Canadian taxpayers. Such information can be general in nature, or can involve the specific tax affairs ...
CRA issues list of approved software for NETFILING of 2017 returns
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to file th...
The Canada Revenue Agency’s NETFILE service for filing of individual income tax returns will be available starting Monday February 26, 2018. Taxpayers do not need to obtain an access code to file th...
Unemployment rate up slightly in January
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. That c...
The most recent release of Statistics Canada’s Labor Force Survey shows a slight increase in the overall unemployment rate for the month of January. That rate rose by 0.1%, from 5.8% to 5.9%. That c...
2018-19 Federal Budget date announced
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Paper...
The Federal Minister of Finance has announced that the 2018-19 federal Budget will be brought down on Tuesday, February 27, 2018. The Budget will be released at around 4 p.m. and the full Budget Paper...
Obtaining hard copy of a 2017 income tax return package
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pap...
This year, the Canada Revenue Agency (CRA) will be providing taxpayers with hard copies of the 2017 Income Tax and Benefit package through a variety of means, and at various dates. Individuals who pap...
CRA announces NETFILE service availability dates for 2017 returns
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availab...
The Canada Revenue Agency (CRA) has announced the date on which NETFILE service for the filing of individual income tax returns for the 2017 tax year will be available. NETFILE service will be availab...
CRA to mail tax return packages to selected taxpayers
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Age...
While the majority of Canadians now file their individual income tax returns electronically, there is still a significant minority of tax filers who file using a printed return. The Canada Revenue Age...
CRA announces change to 2017 individual tax return forms
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file their ret...
The Canada Revenue Agency (CRA) has posted a notice on its website that an “update” has been made to individual 2017 tax forms. Those forms are to be used by individual Canadians to file their ret...
CRA reinstates telephone tax return filing service
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
For a number of years, taxpayers whose tax situation was relatively straightforward were able to file their return by telephone. That service, which was called TELEFILE, was withdrawn a few years ago....
Prescribed interest rates for first quarter of 2018
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
The Canada Revenue Agency (CRA) has announced the interest rates which will apply to amounts owed to and by the Agency for the first quarter of 2018, as well as the rates that will apply for the purpo...
Bank of Canada raises interest rates
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announcement, w...
As widely expected, the Bank of Canada indicated, in its regularly scheduled interest rate announcement made on January 17, that an increase in the bank rate was required. The Bank’s announcement, w...
Federal Budget 2018-19 consultations to end January 26
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting thei...
Finance Canada has announced that the consultation process leading to the release of the 2018-19 federal Budget will conclude on Friday January 26, 2018. Canadians can provide input by submitting thei...
CRA issues individual T1 Tax Return Form and Guide for 2017
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
The Canada Revenue Agency has released the T1 Individual Income Tax Return and Benefit form to be used by individual Canadian taxpayers in filing their return for the 2017 tax year. The T1 form is ava...
Unemployment rate for December 2017 down to 5.7%
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was recorded...
The most recent release of Statistics Canada’s Labour Force Survey indicates that the unemployment rate for the month of December 2017 stood at 5.7%. The last period for which that rate was recorded...
Small business tax rate reduced effective January 1
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. Th...
As previously announced, the federal small business tax rate is reduced to 10.0%, effective as of January 1, 2018. There is no change in the federal small business limit, which remains at $500,000. Th...
Automobile deduction and benefit limits for 2018
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are unchan...
Finance Canada has announced the limits and thresholds which will apply for purposes of determining automobile benefits and deductions during 2018. Most such deduction limits and thresholds are unchan...
CRA issues guidance on upcoming changes to small business tax rules
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Planned changes to the federal income tax rules governing the taxation of small incorporated Canadian businesses are to take effect for 2018. One of those changes will include greater restrictions on ...
Changes to be made to Voluntary Disclosure Program
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
The Canada Revenue Agency (CRA) provides an administrative program under which taxpayers who have failed to file returns or pay taxes on a timely basis can bring their tax affairs into compliance, usu...
Age 71 final RRSP contribution to be made by December 31
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of th...
Taxpayers who are turning age 71 during the year and who have available contribution room are entitled to make a final RRSP contribution for that year. Such contributions must be made by the end of th...
NETFILE service for 2016 returns available until January 19
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Taxpayers who have not yet filed their return for the 2016 tax year will have until January 19, 2018 to file that return using NETFILE. Until that date, returns for the 2013, 2014, 2015, and 2016 tax ...
Bank of Canada leaves interest rates unchanged
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
In its regularly scheduled interest rate announcement made on December 6, the Bank of Canada indicated that, in its view, no change is required to current rates. Accordingly, the bank rate remains at ...
Unemployment rate down in November
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The November ...
The most recent release of Statistic’s Canada’s Labour Force Survey shows a slight decline in the overall unemployment for the month of November. That rate declined by 0.4%, to 5.9%. The November ...
T4127 for 2018 payroll deduction amounts released
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
The Canada Revenue Agency has issued the 2018 version of its publication T4127(E), Payroll Deductions Formulas. The guide is intended for use by payroll software providers and by employers which manag...
CRA issues federal TD1 Form and TD1 Worksheet for 2018
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
The Canada Revenue Agency has issued the federal TD1 Form and Worksheet which will be used by taxpayers and their employers to determine required federal income tax source deductions for the upcoming ...
Inflation rate up by 1.4% in October
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for the...
The most recent release of Statistics Canada’s Consumer Price Index (CPI) shows an inflation rate of 1.4% for the month of October, as measured on a year-over-year basis. The equivalent rate for the...
Finance launches pre-budget consultations
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person public...
Finance Canada has begun the consultation process leading to the release of the 2018-19 federal Budget. As part of that budget consultation process, the Minister of Finance is holding in-person public...
CRA to provide online filing for trust tax and information returns
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Effective as of January 8, 2018, administrators and representatives of qualifying Canadian trusts will be able to file trust income tax and information returns online, through the Canada Revenue Agenc...
Employment Insurance premium rates for 2018
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been set...
The federal government has announced the premium rates and maximum insurable earnings amount which will be in place for the 2018 calendar year. The premium rate for the year for employees has been set...
CRA announces CPP contribution rates and amounts for 2018
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 (...
The Canada Revenue Agency (CRA) has announced the contribution rates and amounts for both employers and employees which will apply for 2018. Maximum pensionable earnings for the year will be $55,900 (...
AB - Two-month GST holiday from December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) is being provided on sales of specified ...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) is being provided on sales of specified ...
AB - Interest Rates - 2025
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Province launches consultation process for 2025-26 budget
The Alberta government has launched the consultation process leading to the announcement of the province’s budget for its 2025-26 fiscal year. That budget will be released before the end of February...
The Alberta government has launched the consultation process leading to the announcement of the province’s budget for its 2025-26 fiscal year. That budget will be released before the end of February...
AB - Province issues second-quarter fiscal update for 2024-25
The Fiscal Update and Economic Statement for the second quarter (July 1 - September 30) of the province’s 2024-25 fiscal year, which was recently released by Alberta Finance, indicates an improved s...
The Fiscal Update and Economic Statement for the second quarter (July 1 - September 30) of the province’s 2024-25 fiscal year, which was recently released by Alberta Finance, indicates an improved s...
AB - Alberta TRA issues Special Notice on return filing and payment obligations during postal disruption
The Alberta Tax and Revenue Administration (TRA) has issued a Tax Administration Special Notice (Vol.8, No. 7) providing information on the filing of returns and making tax payments during the current...
The Alberta Tax and Revenue Administration (TRA) has issued a Tax Administration Special Notice (Vol.8, No. 7) providing information on the filing of returns and making tax payments during the current...
AB - Alberta TRA issues updated Tourism Levy guide and return forms
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued the guide and forms to be used when completing and filing returns under the province’s Tourism Levy program. The updated pu...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued the guide and forms to be used when completing and filing returns under the province’s Tourism Levy program. The updated pu...
AB - Alberta TRA issues updated Information Circular on Tourism Levy Program
Effective as of October 1, 2024, changes were made to the rules governing the Alberta Tourism Levy Program. That Program imposes a 4% levy on accommodation bookings in the province, and the October 1 ...
Effective as of October 1, 2024, changes were made to the rules governing the Alberta Tourism Levy Program. That Program imposes a 4% levy on accommodation bookings in the province, and the October 1 ...
AB - Updated publication issued on October 1 changes to Tourism Levy Program
Effective as of October 1, 2024, the rules governing Alberta’s Tourism Levy were amended to impose new registration, collection, and remittance requirements for online brokers that facilitate short-...
Effective as of October 1, 2024, the rules governing Alberta’s Tourism Levy were amended to impose new registration, collection, and remittance requirements for online brokers that facilitate short-...
AB - Alberta TRA issues updated publications on Alberta Innovation Employment Grant
The province provides Alberta corporations with the Alberta Innovation Employment Grant (AIEG), a refundable corporate income tax credit. Under the AIEG program, qualifying corporations can claim a cr...
The province provides Alberta corporations with the Alberta Innovation Employment Grant (AIEG), a refundable corporate income tax credit. Under the AIEG program, qualifying corporations can claim a cr...
AB - Interest Rates - 2024
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Alberta Finance issues fiscal update for first quarter of 2024-25
The Alberta government has released a Fiscal Update summarizing revenue, expenditure, and surplus projections as of the end of the first quarter (April 1 to June 30) of the province’s 2024-25 fiscal...
The Alberta government has released a Fiscal Update summarizing revenue, expenditure, and surplus projections as of the end of the first quarter (April 1 to June 30) of the province’s 2024-25 fiscal...
AB - TRA issues new guidance on upcoming changes to Tourism Levy Program
Effective as of October 1, 2024, significant changes to the province’s Tourism Levy Program will be implemented, with such changes particularly affecting accommodation booked through online brokers....
Effective as of October 1, 2024, significant changes to the province’s Tourism Levy Program will be implemented, with such changes particularly affecting accommodation booked through online brokers....
AB - Government matching program for wildfire relief donations ends August 24
The federal and Alberta governments are each matching charitable donations made to the Red Cross for wildfire relief, meaning that each $1.00 donated will result in a total $3.00 donation. The 30-day ...
The federal and Alberta governments are each matching charitable donations made to the Red Cross for wildfire relief, meaning that each $1.00 donated will result in a total $3.00 donation. The 30-day ...
AB - Alberta TRA to provide interest and penalty relief
The Alberta Tax and Revenue Administration (TRA) has announced that partial or full relief from interest and penalty charges under a number of provincial tax programs may be available to residents of ...
The Alberta Tax and Revenue Administration (TRA) has announced that partial or full relief from interest and penalty charges under a number of provincial tax programs may be available to residents of ...
AB - Wildfire relief donations to be matched by provincial and federal governments
The federal and Alberta governments have announced that both levels of government will match all donations made to the Canadian Red Cross 2024 Alberta Wildfires Appeal, meaning that every $1.00 donat...
The federal and Alberta governments have announced that both levels of government will match all donations made to the Canadian Red Cross 2024 Alberta Wildfires Appeal, meaning that every $1.00 donat...
AB - Alberta TRA issues updated information circulars on changes to Tourism Levy
The Alberta Tax and Revenue Administration (TRA) has issued two updated information circulars outlining upcoming changes to the province’s Tourism Levy Program. Under that Program, a 4% levy is char...
The Alberta Tax and Revenue Administration (TRA) has issued two updated information circulars outlining upcoming changes to the province’s Tourism Levy Program. Under that Program, a 4% levy is char...
AB - Province announces year-end fiscal results for 2023-24
The Alberta Ministry of Finance has released the final revenue, expenditure, and surplus figures for the province’s fiscal year which ended on March 31, 2024. Those figures show that Alberta posted ...
The Alberta Ministry of Finance has released the final revenue, expenditure, and surplus figures for the province’s fiscal year which ended on March 31, 2024. Those figures show that Alberta posted ...
AB - TRA issues updated Information Circular on tax administration and collection
The Alberta Tax and Revenue Administration (TRA), which administers Alberta’s corporate income tax and commodity tax and levy legislation, including the Alberta Corporate Tax Act (ACTA), Fuel Tax Ac...
The Alberta Tax and Revenue Administration (TRA), which administers Alberta’s corporate income tax and commodity tax and levy legislation, including the Alberta Corporate Tax Act (ACTA), Fuel Tax Ac...
AB - No change in fuel tax rates for July to September 2024
Under the province’s Fuel Tax Relief Program, fuel tax rates for gasoline and diesel are adjusted quarterly (on January 1, April 1, July 1, and October 1), with adjustments based on the average pric...
Under the province’s Fuel Tax Relief Program, fuel tax rates for gasoline and diesel are adjusted quarterly (on January 1, April 1, July 1, and October 1), with adjustments based on the average pric...
AB - June 30 filing deadline for calendar year Alberta corporations
Corporations having a permanent establishment in the province are required to file an AT1 provincial corporate income tax return within six months of the corporation’s year-end. Consequently, the fi...
Corporations having a permanent establishment in the province are required to file an AT1 provincial corporate income tax return within six months of the corporation’s year-end. Consequently, the fi...
AB - Interest Rates - 2024
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Alberta Tax and Revenue issues Filing Exemption Checklist for corporations
Alberta tax legislation provides that corporations having a permanent establishment in the province at any time during the year must file a provincial corporate income tax return within six months of ...
Alberta tax legislation provides that corporations having a permanent establishment in the province at any time during the year must file a provincial corporate income tax return within six months of ...
AB - TRA issues updated Information Circular on tobacco tax
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued Information Circular TTA-2R6, which outlines in detail the administrative requirements and procedures imposed by the province...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued Information Circular TTA-2R6, which outlines in detail the administrative requirements and procedures imposed by the province...
AB - Mandatory e-filing of provincial corporate income tax returns
Corporations which have a permanent establishment in Alberta are required to file an Alberta corporate income tax return (AT1). Under current rules, all corporations may file such returns using electr...
Corporations which have a permanent establishment in Alberta are required to file an Alberta corporate income tax return (AT1). Under current rules, all corporations may file such returns using electr...
AB - Updated Circular issued on Alberta corporate income tax program
Corporations having a permanent establishment in Alberta are required to file a provincial corporate income tax return within six months of the corporation’s taxation year end.The Alberta Tax and Re...
Corporations having a permanent establishment in Alberta are required to file a provincial corporate income tax return within six months of the corporation’s taxation year end.The Alberta Tax and Re...
AB - Electric vehicle tax to be levied beginning in 2025
In this year’s budget, the Alberta government announced that, as early as January 1, 2025, it will levy a $200 annual tax on all electric vehicles in the province. Hybrid vehicles are to be exempt f...
In this year’s budget, the Alberta government announced that, as early as January 1, 2025, it will levy a $200 annual tax on all electric vehicles in the province. Hybrid vehicles are to be exempt f...
AB - Province increases tobacco taxes
Effective as of March 1, 2024, the province imposed an increase in tobacco taxes on both cigarettes and smokeless tobacco. As of that date, the tax on cigarettes increased by 2.5 cents to 30 cents per...
Effective as of March 1, 2024, the province imposed an increase in tobacco taxes on both cigarettes and smokeless tobacco. As of that date, the tax on cigarettes increased by 2.5 cents to 30 cents per...
AB - Province to introduce tax on vaping products in 2025
In its budget for the current (2024-25) fiscal year, the provincial government announced that it would, starting as early as January 1, 2025, impose a tax on vaping products sold in Alberta.The provin...
In its budget for the current (2024-25) fiscal year, the provincial government announced that it would, starting as early as January 1, 2025, impose a tax on vaping products sold in Alberta.The provin...
AB - Special Notice issued on October 1, 2024 changes to Tourism Levy
The province of Alberta imposes a 4% Tourism Levy on sales of short-term or temporary accommodation in the province. Effective as of October 1, 2024, new registration, reporting, and remittance requir...
The province of Alberta imposes a 4% Tourism Levy on sales of short-term or temporary accommodation in the province. Effective as of October 1, 2024, new registration, reporting, and remittance requir...
AB - Updated Information Circulars and forms issued for Alberta Corporate Income Tax Program
Alberta corporations are required to file a provincial income tax return within six months after the end of the corporation’s taxation year. Consequently, calendar year companies must file such a re...
Alberta corporations are required to file a provincial income tax return within six months after the end of the corporation’s taxation year. Consequently, calendar year companies must file such a re...
AB - Increase in fuel tax rates effective April 1, 2024
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol.1, No. 50) outlining increases in fuel tax rates which will take effect on April 1, 2024. Effective as of that date, A...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol.1, No. 50) outlining increases in fuel tax rates which will take effect on April 1, 2024. Effective as of that date, A...
AB - Province to provide refundable tax credit for skilled workers
In its 2024-25 budget, the provincial government announced that it would be providing a new refundable tax credit for individuals working in eligible occupations who move to Alberta in 2024.In order t...
In its 2024-25 budget, the provincial government announced that it would be providing a new refundable tax credit for individuals working in eligible occupations who move to Alberta in 2024.In order t...
AB - Interest Rates - 2024
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Budget announces new individual income tax bracket
In its budget for the 2024-25 fiscal year, the Alberta government indicated that a tax cut would be provided for Alberta residents having taxable income of less than $60,000 per year. The tax rate cur...
In its budget for the 2024-25 fiscal year, the Alberta government indicated that a tax cut would be provided for Alberta residents having taxable income of less than $60,000 per year. The tax rate cur...
AB - Special Notice issued on changes to fuel tax inventory declaration filing requirements
The Alberta Tax and Revenue Administration has issued a new Special Notice (Vol. 1, No. 49) outlining recent changes made to fuel tax inventory declaration filing requirements. Alberta’s fuel tax ra...
The Alberta Tax and Revenue Administration has issued a new Special Notice (Vol. 1, No. 49) outlining recent changes made to fuel tax inventory declaration filing requirements. Alberta’s fuel tax ra...
AB - 2024-25 provincial budget to be released at end of February
Alberta’s budget for the upcoming 2024-25 fiscal year (April 1, 2024 to March 31, 2025) will be released on Thursday February 29, 2024. Once the budget measures are announced, the full budget papers...
Alberta’s budget for the upcoming 2024-25 fiscal year (April 1, 2024 to March 31, 2025) will be released on Thursday February 29, 2024. Once the budget measures are announced, the full budget papers...
AB - Individual income tax rates and brackets for 2024
During the 2024 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate Taxable Income Brackets 10% ...
During the 2024 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate Taxable Income Brackets 10% ...
AB - Drought Livestock Assistance program for 2023 expanded
The provincial government has announced that the 2023 Canada-Alberta Drought Livestock Assistance initiative has expanded eligibility to 23 new regions of the province. Livestock producers in eligible...
The provincial government has announced that the 2023 Canada-Alberta Drought Livestock Assistance initiative has expanded eligibility to 23 new regions of the province. Livestock producers in eligible...
AB - TRA issues updated information on provincial tax audit process
The Audit Branch of the Alberta Tax and Revenue Administration (TRA) has the responsibility for ensuring taxpayer compliance with provincial tax legislation, and carrying out taxpayer audits is part o...
The Audit Branch of the Alberta Tax and Revenue Administration (TRA) has the responsibility for ensuring taxpayer compliance with provincial tax legislation, and carrying out taxpayer audits is part o...
AB - Personal tax credit amounts for 2024
The province of Alberta will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $21,885 Spouse or equivalent-to-spouse amount … ...
The province of Alberta will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $21,885 Spouse or equivalent-to-spouse amount … ...
AB - 2024 budget consultation process closes January 19
All submissions for the public consultation process leading to the release of Alberta’s 2024-25 budget next month must be made on or before January 19, 2024. The province’s budget consultation pro...
All submissions for the public consultation process leading to the release of Alberta’s 2024-25 budget next month must be made on or before January 19, 2024. The province’s budget consultation pro...
AB - Fuel tax collection resumes effective January 1, 2024
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 48) confirming that the provincial government has resumed collection of fuel tax effective January 1, 2024. As...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 48) confirming that the provincial government has resumed collection of fuel tax effective January 1, 2024. As...
AB - Interest Rates - 2024
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Application process now open for disaster financial assistance for flood-related damage
The provincial government has issued a press release reminding Alberta residents who were affected by floods during 2023 of the availability of disaster financial assistance. Residents and business ow...
The provincial government has issued a press release reminding Alberta residents who were affected by floods during 2023 of the availability of disaster financial assistance. Residents and business ow...
AB - Mid-year fiscal report shows increased surplus for 2023-24
In the province’s 2023-24 Mid-Year Fiscal Update and Economic Statement, Alberta’s Minister of Finance was able to announce an improvement in the province’s financial outlook for the current (20...
In the province’s 2023-24 Mid-Year Fiscal Update and Economic Statement, Alberta’s Minister of Finance was able to announce an improvement in the province’s financial outlook for the current (20...
AB - Consultation process launched for 2024-25 budget
The Alberta government has initiated the public consultation process for its 2024-25 fiscal year budget, which will be brought down by the end of February 2024. The consultation process has several co...
The Alberta government has initiated the public consultation process for its 2024-25 fiscal year budget, which will be brought down by the end of February 2024. The consultation process has several co...
AB - Updated information issued for retailers registering for AITE program
A retailer located on a reserve in Alberta that sells fuel or tobacco to eligible consumers may register to sell these products exempt from Alberta fuel and tobacco tax under the Alberta Indian Tax Ex...
A retailer located on a reserve in Alberta that sells fuel or tobacco to eligible consumers may register to sell these products exempt from Alberta fuel and tobacco tax under the Alberta Indian Tax Ex...
AB - Application process for Drought Livestock Assistance Program now open
Effective as of October 30, 2023, applications can be submitted for assistance under the Alberta Drought Livestock Assistance initiative. Under that initiative, farmers in the province who altered the...
Effective as of October 30, 2023, applications can be submitted for assistance under the Alberta Drought Livestock Assistance initiative. Under that initiative, farmers in the province who altered the...
AB - Small and medium-sized businesses eligible for funding for energy cost and emissions reduction plans
The provincial government has announced that small and medium-sized Alberta businesses (those with fewer than 50 or 500 employees, respectively), as well as Indigenous communities and organizations of...
The provincial government has announced that small and medium-sized Alberta businesses (those with fewer than 50 or 500 employees, respectively), as well as Indigenous communities and organizations of...
AB - Changes to tobacco tax collection procedures effective October 1
Effective as of October 1, 2023, a number of changes were made to Alberta tobacco tax collection procedures, including new restrictions on who may be appointed as a tobacco tax collector.The Alberta T...
Effective as of October 1, 2023, a number of changes were made to Alberta tobacco tax collection procedures, including new restrictions on who may be appointed as a tobacco tax collector.The Alberta T...
AB - Updated form issued for filing of Alberta corporate income tax return
Any company which has a permanent establishment in Alberta at any time during the year must file a provincial corporate income tax return within six months after the end of that company’s fiscal yea...
Any company which has a permanent establishment in Alberta at any time during the year must file a provincial corporate income tax return within six months after the end of that company’s fiscal yea...
AB - Upcoming changes to tobacco tax collection rules
Effective as of October 1, 2023, changes to the regulations with respect to tobacco tax collection in Alberta will take effect. As of that date, to be eligible for appointment as a tax collector, a wh...
Effective as of October 1, 2023, changes to the regulations with respect to tobacco tax collection in Alberta will take effect. As of that date, to be eligible for appointment as a tax collector, a wh...
AB - Interest Rates - 2023
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Province releases first quarter fiscal report for 2023-24
The first quarter fiscal report issued by the Alberta government on August 31 indicates that the province is on track to record a surplus of $2.4 billion for the 2023-24 fiscal year. Revenue for 2023-...
The first quarter fiscal report issued by the Alberta government on August 31 indicates that the province is on track to record a surplus of $2.4 billion for the 2023-24 fiscal year. Revenue for 2023-...
AB - Federal government announces livestock tax deferral prescribed areas for 2023
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
AB - TRA issues updated Information Circulars on corporate tax filing requirements
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued two corporate income tax Information Circulars.The first such publication – CT-2R10 – Corporate Income Tax Filing and Pay...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued two corporate income tax Information Circulars.The first such publication – CT-2R10 – Corporate Income Tax Filing and Pay...
AB - Climate action incentive payment amounts for 2023-24
Eligible residents of Alberta can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligible res...
Eligible residents of Alberta can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligible res...
AB - Updated information issued on International Fuel Tax Agreement program
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued its Information Circular (IFTA-1R9) on the International Fuel Tax Agreement (IFTA) program (an agreement among American and C...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued its Information Circular (IFTA-1R9) on the International Fuel Tax Agreement (IFTA) program (an agreement among American and C...
AB - 2022-23 final report shows improved financial position
The government of Alberta has released its final report on the province’s financial position for the fiscal year ended March 31, 2023. Alberta ended that fiscal year with an $11.6 billion surplus, e...
The government of Alberta has released its final report on the province’s financial position for the fiscal year ended March 31, 2023. Alberta ended that fiscal year with an $11.6 billion surplus, e...
AB - Planned changes to tourism levy for online operators cancelled
Alberta imposes a 4% tourism levy which is paid by any person who acquires accommodation in a hotel, motel, apartment building, hostel, lodging house, boarding house, bed and breakfast, or similar pre...
Alberta imposes a 4% tourism levy which is paid by any person who acquires accommodation in a hotel, motel, apartment building, hostel, lodging house, boarding house, bed and breakfast, or similar pre...
AB - Interest Rates - 2023
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Fuel tax relief extended for further six months
The Alberta government has announced that the existing fuel tax holiday, which was scheduled to end on June 30, 2023, has instead been extended. That holiday, under which the fuel tax rate is reduced ...
The Alberta government has announced that the existing fuel tax holiday, which was scheduled to end on June 30, 2023, has instead been extended. That holiday, under which the fuel tax rate is reduced ...
AB - Federal and provincial governments to match qualifying wildfire relief donations
The Alberta government has announced that both the federal and provincial governments will match donations made to the Canadian Red Cross 2023 Alberta Fires Appeal on a dollar-for-dollar basis. The d...
The Alberta government has announced that both the federal and provincial governments will match donations made to the Canadian Red Cross 2023 Alberta Fires Appeal on a dollar-for-dollar basis. The d...
AB - Emergency financial assistance available for wildfire evacuees
The provincial government has announced that, as of May 9, any resident of the province who has evacuated for seven or more days under a mandatory order can apply for a one-time emergency evacuation p...
The provincial government has announced that, as of May 9, any resident of the province who has evacuated for seven or more days under a mandatory order can apply for a one-time emergency evacuation p...
AB - TRA issues information on upcoming changes to provincial tobacco tax program
Effective as of October 1, 2023, a number of changes will be made to Alberta’s tobacco tax program. To assist tobacco wholesalers in transitioning to the new rules, the Alberta Tax and Revenue Admin...
Effective as of October 1, 2023, a number of changes will be made to Alberta’s tobacco tax program. To assist tobacco wholesalers in transitioning to the new rules, the Alberta Tax and Revenue Admin...
AB - TRA issues updated information on Alberta Tourism Levy Program
The province of Alberta imposes a Tourism Levy of 4% of the purchase price of any accommodation provided in the province, including stays in residential units, and providers of such accommodation are ...
The province of Alberta imposes a Tourism Levy of 4% of the purchase price of any accommodation provided in the province, including stays in residential units, and providers of such accommodation are ...
AB - Province updates information on claims for abandoned property
The Alberta government maintains a central registry of property that is unclaimed and has been presumed abandoned by its owner and, once such property has been transferred to the province, a claim can...
The Alberta government maintains a central registry of property that is unclaimed and has been presumed abandoned by its owner and, once such property has been transferred to the province, a claim can...
AB - Alberta TRA issues updated Information Circulars on provincial corporate income tax
Alberta corporations are required to file a provincial corporate income tax return within six months from the end of the corporation’s tax year. Corporations having a December 31, 2022 year end must...
Alberta corporations are required to file a provincial corporate income tax return within six months from the end of the corporation’s tax year. Corporations having a December 31, 2022 year end must...
AB - Interest Rates - 2023
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Province introduces new Agri-Processing Investment Tax Credit
In its recent 2023-24 budget, the provincial government introduced a new non-refundable tax credit for investments in the agri-food sector. That new credit is available for investments made on or afte...
In its recent 2023-24 budget, the provincial government introduced a new non-refundable tax credit for investments in the agri-food sector. That new credit is available for investments made on or afte...
AB - Province increases adoption tax credit
In its budget for the 2023-24 fiscal year, the province announced that the amount of expenses claimable for purposes of the Alberta adoption tax credit would be increased, effective as of January 1, 2...
In its budget for the 2023-24 fiscal year, the province announced that the amount of expenses claimable for purposes of the Alberta adoption tax credit would be increased, effective as of January 1, 2...
AB - Charitable donations tax credit increased as of 2023
In its budget for the 2023-24 fiscal year, the government of Alberta announced that the provincial tax credit provided for charitable donations would be increased. As of January 1, 2023, the provincia...
In its budget for the 2023-24 fiscal year, the government of Alberta announced that the provincial tax credit provided for charitable donations would be increased. As of January 1, 2023, the provincia...
AB - CRA issues 2022 tax return filing information for Alberta residents
The Canada Revenue Agency has issued a News Release summarizing this year’s tax filing and payment deadlines for Alberta residents, together with a listing of changes which Alberta taxpayers will se...
The Canada Revenue Agency has issued a News Release summarizing this year’s tax filing and payment deadlines for Alberta residents, together with a listing of changes which Alberta taxpayers will se...
AB - 2023-24 provincial budget to be brought down on February 28
The Alberta Minister of Finance has announced that the province’s budget for the upcoming 2023-24 fiscal year will be brought down on Tuesday February 28. Once the budget measures are announced, the...
The Alberta Minister of Finance has announced that the province’s budget for the upcoming 2023-24 fiscal year will be brought down on Tuesday February 28. Once the budget measures are announced, the...
AB - Updated guide issued for Alberta Innovation Employment Grant
The province provides qualified Alberta corporations with a refundable tax credit known as the Alberta Innovation Employment Grant (IEG). The IEG provides such corporations with a deduction from Alber...
The province provides qualified Alberta corporations with a refundable tax credit known as the Alberta Innovation Employment Grant (IEG). The IEG provides such corporations with a deduction from Alber...
AB - Updated summary of fuel and tobacco tax rates available online
The Alberta Tax and Revenue Administration (TRA) has issued a new Fuel Tax and Tobacco Tax Rate Chart, showing the tax rates currently applicable to different products for purposes of provincial fuel ...
The Alberta Tax and Revenue Administration (TRA) has issued a new Fuel Tax and Tobacco Tax Rate Chart, showing the tax rates currently applicable to different products for purposes of provincial fuel ...
AB - Province issues warning about scams involving new affordability payments
Earlier this month, the provincial government announced that the online portal for claiming benefits under its new affordability payments program would open in the third week of January. The Alberta g...
Earlier this month, the provincial government announced that the online portal for claiming benefits under its new affordability payments program would open in the third week of January. The Alberta g...
AB - Individual income tax rates and brackets for 2023
During the 2023 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate Taxable Incom...
During the 2023 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate Taxable Incom...
AB - Application process for inflation support payments opens January 18
Recently the provincial government announced that new or additional “affordability payments” will be provided to eligible residents of the province to help them cope with increases in the cost of ...
Recently the provincial government announced that new or additional “affordability payments” will be provided to eligible residents of the province to help them cope with increases in the cost of ...
AB - Personal tax credit amounts for 2023
The province of Alberta will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $21,003 Spouse or equivalent to spouse amount ...
The province of Alberta will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $21,003 Spouse or equivalent to spouse amount ...
AB - Province to provide fuel tax relief for first half of 2023
The Alberta government has issued a Special Notice (Vol. 1, No.46) announcing that for the first half of 2023 (January 1 to June 30), the provincial fuel tax rate will be reduced to zero. The fuel tax...
The Alberta government has issued a Special Notice (Vol. 1, No.46) announcing that for the first half of 2023 (January 1 to June 30), the provincial fuel tax rate will be reduced to zero. The fuel tax...
AB - Indexing factor for 2023 personal tax credits set at 6%
In August of this year, the Alberta government announced that the provincial personal income tax system would be indexed to inflation, with retroactive effect from January 1, 2022. Consequently, the b...
In August of this year, the Alberta government announced that the provincial personal income tax system would be indexed to inflation, with retroactive effect from January 1, 2022. Consequently, the b...
AB - Interest Rates - 2023
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates which will be levi...
AB - Mid-Year Fiscal Update for 2022-23 released
On November 24, the Alberta Minister of Finance released the province’s 2022-23 Mid-Year Fiscal Update and Economic Statement. The Update showed that the projected surplus for 2022-23 has decreased ...
On November 24, the Alberta Minister of Finance released the province’s 2022-23 Mid-Year Fiscal Update and Economic Statement. The Update showed that the projected surplus for 2022-23 has decreased ...
AB - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by Alberta employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Alberta emplo...
The Canada Revenue Agency has released the payroll deduction formulas to be used by Alberta employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Alberta emplo...
AB - Updated publications issued on provincial fuel tax regime
The province of Alberta imposes a fuel tax regime in which each recipient in the distribution chain recovers the fuel tax from the party they sell fuel to, continuing until the end consumer pays the t...
The province of Alberta imposes a fuel tax regime in which each recipient in the distribution chain recovers the fuel tax from the party they sell fuel to, continuing until the end consumer pays the t...
AB - Province launches consultation process for 2023-24 budget
The province of Alberta has announced the start of its consultation process with respect to the 2023-24 provincial budget which will be announced in February 2023. There are several elements to the co...
The province of Alberta has announced the start of its consultation process with respect to the 2023-24 provincial budget which will be announced in February 2023. There are several elements to the co...
AB - TRA no longer accepting corporate income tax account phone and email information requests
The Alberta Tax and Revenue Administration (TRA) has announced that, effective as of October 3, 2022, it is no longer processing phone or email requests for basic corporate income tax account informat...
The Alberta Tax and Revenue Administration (TRA) has announced that, effective as of October 3, 2022, it is no longer processing phone or email requests for basic corporate income tax account informat...
AB - Basic personal tax exemption to increase for 2022
Earlier this year, the provincial government announced that, owing to higher than expected revenues, the surplus forecast for the 2022-3 fiscal year had increased to $13.2 billion. At that time, the g...
Earlier this year, the provincial government announced that, owing to higher than expected revenues, the surplus forecast for the 2022-3 fiscal year had increased to $13.2 billion. At that time, the g...
AB - Natural gas rebate program begins October 1, 2022
The provincial government has announced that its natural gas rebate program will run from October 1, 2022 to March 31, 2023. Under that program, the amount of monthly rebate provided to consumers is t...
The provincial government has announced that its natural gas rebate program will run from October 1, 2022 to March 31, 2023. Under that program, the amount of monthly rebate provided to consumers is t...
AB - Province to resume collection of fuel tax as of October 1, 2022
Earlier this year, the Alberta government announced that, in order to assist Alberta residents dealing with higher living costs, a provincial fuel tax holiday would be provided for a six-month period....
Earlier this year, the Alberta government announced that, in order to assist Alberta residents dealing with higher living costs, a provincial fuel tax holiday would be provided for a six-month period....
AB - First-quarter financial report for 2022-23 shows increased surplus
The fiscal update for the first quarter of the 2022-23 fiscal year (April 1 to June 30, 2022) indicates that the province is in a much better financial position than was projected in the 2022-23 budge...
The fiscal update for the first quarter of the 2022-23 fiscal year (April 1 to June 30, 2022) indicates that the province is in a much better financial position than was projected in the 2022-23 budge...
AB - Interest Rates - 2022
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Upcoming changes to accessing corporate income tax account information
The Alberta Tax and Revenue Administration has announced that, effective as of October 3, 2022, it will no longer be processing phone or email requests for basic account information on corporate incom...
The Alberta Tax and Revenue Administration has announced that, effective as of October 3, 2022, it will no longer be processing phone or email requests for basic account information on corporate incom...
AB - Updated guide issued for Alberta Innovation Employment Grant
The Alberta Innovation Employment Grant (IEG) is a refundable tax credit that a qualified corporation may deduct from provincial corporate income tax otherwise payable for the year. Generally, the IEG...
The Alberta Innovation Employment Grant (IEG) is a refundable tax credit that a qualified corporation may deduct from provincial corporate income tax otherwise payable for the year. Generally, the IEG...
AB - Province expands Temporary Rent Assistance Benefit
Alberta’s Temporary Rent Assistance Benefit, which provides rent supports for a two-year period to working households with low income, or those between jobs, is being expanded. In order to be eligib...
Alberta’s Temporary Rent Assistance Benefit, which provides rent supports for a two-year period to working households with low income, or those between jobs, is being expanded. In order to be eligib...
AB - Electricity rebate program extended
Earlier this year, the Alberta government announced that eligible residents of the province would be receiving a rebate on their electricity costs. That rebate would be provided by means of a $50 cred...
Earlier this year, the Alberta government announced that eligible residents of the province would be receiving a rebate on their electricity costs. That rebate would be provided by means of a $50 cred...
AB - Provincial residents to receive rebate on electricity costs
Earlier this year, the government of Alberta announced that a number of energy cost rebate programs would be provided to residents of the province during 2022. Payments under one of those programs –...
Earlier this year, the government of Alberta announced that a number of energy cost rebate programs would be provided to residents of the province during 2022. Payments under one of those programs –...
AB - 2021-22 fiscal results show province in strong surplus position
The province has released its financial results for the 2021–22 fiscal year which ended on March 31, 2022, and those results show the province to be in a strong surplus position.Projections issued i...
The province has released its financial results for the 2021–22 fiscal year which ended on March 31, 2022, and those results show the province to be in a strong surplus position.Projections issued i...
AB - New corporate tax forms issued to reflect change in administrative policy
The Alberta Tax and Revenue Administration has changed its policy with respect to the way a corporation’s address is updated, and, as of June 20, 2022, such updates can no longer be made on the corp...
The Alberta Tax and Revenue Administration has changed its policy with respect to the way a corporation’s address is updated, and, as of June 20, 2022, such updates can no longer be made on the corp...
AB - Interest Rates - 2022
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Application process for provincial wage subsidy program now open
The provincial government has announced that the third and final application intake for the Alberta Jobs Now program opened on June 3, 2022. Under that program, eligible employers can hire and train u...
The provincial government has announced that the third and final application intake for the Alberta Jobs Now program opened on June 3, 2022. Under that program, eligible employers can hire and train u...
AB - Film and Television Tax Credit program expanded
In 2020, Alberta introduced a Film and Television Tax Credit program, which provides a refundable tax credit based on eligible Alberta production and labour costs incurred for films and television ser...
In 2020, Alberta introduced a Film and Television Tax Credit program, which provides a refundable tax credit based on eligible Alberta production and labour costs incurred for films and television ser...
AB - Province to provide electricity and natural gas rebates
The Alberta government has announced that it will be providing rebates to residents of the province to help offset the costs of electricity and natural gas. The Electricity Rebate Program will help co...
The Alberta government has announced that it will be providing rebates to residents of the province to help offset the costs of electricity and natural gas. The Electricity Rebate Program will help co...
AB - Alberta TRA issues guidance on applying for the Innovation Employment Grant
The Alberta Innovation Employment Grant (IEG) is a refundable tax credit that a qualified corporation may deduct from provincial corporate income tax otherwise payable for the year. Generally, the IEG...
The Alberta Innovation Employment Grant (IEG) is a refundable tax credit that a qualified corporation may deduct from provincial corporate income tax otherwise payable for the year. Generally, the IEG...
AB - Alberta TRA posts updated corporate income tax return form
Alberta corporations are required to file a provincial corporate income tax return within six months of the corporation’s tax year end. Calendar year corporations will consequently have to file thei...
Alberta corporations are required to file a provincial corporate income tax return within six months of the corporation’s tax year end. Calendar year corporations will consequently have to file thei...
AB - TRA issues updated publications on tobacco tax changes
In its 2022-23 budget brought down earlier this year, the province announced changes to its tobacco tax regime, including changes to the taxation of smokeless (loose) tobacco. The Alberta Tax and Reve...
In its 2022-23 budget brought down earlier this year, the province announced changes to its tobacco tax regime, including changes to the taxation of smokeless (loose) tobacco. The Alberta Tax and Reve...
AB - Climate Action Incentive payment amounts for 2022-23
The federal government has released information on the Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Alberta, those amounts will be $539 for the first adult in a family,...
The federal government has released information on the Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Alberta, those amounts will be $539 for the first adult in a family,...
AB - New publications issued on suspension of fuel tax collection
The Alberta government recently announced that, in order to provide relief from current high fuel prices, it would be suspending the collection of provincial fuel tax. That measure will take effect as...
The Alberta government recently announced that, in order to provide relief from current high fuel prices, it would be suspending the collection of provincial fuel tax. That measure will take effect as...
AB - Interest Rates - 2022
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Collection of provincial fuel tax suspended
The provincial government has announced that, to address the impact of record high gasoline prices, it will be suspending collection of the provincial fuel tax, effective as of April 1, 2022. That fue...
The provincial government has announced that, to address the impact of record high gasoline prices, it will be suspending collection of the provincial fuel tax, effective as of April 1, 2022. That fue...
AB - Budget projects surplus for 2022-23 fiscal year
The 2022-23 provincial Budget released on February 24 contained no changes to personal or corporate tax rates, and no new taxes. Total revenue for the upcoming 2022-23 fiscal year is estimated at $62....
The 2022-23 provincial Budget released on February 24 contained no changes to personal or corporate tax rates, and no new taxes. Total revenue for the upcoming 2022-23 fiscal year is estimated at $62....
AB - Personal tax credit amounts for 2022
The province of Alberta will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $19,369 Spouse or equivalent to spouse amount … ...
The province of Alberta will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $19,369 Spouse or equivalent to spouse amount … ...
AB - Province announces date for 2022-23 Budget
The Alberta government has announced that the province’s Budget for the upcoming 2022-23 fiscal year will be brought down on Thursday February 24, at 3:15 p.m. The Budget speech can be viewed online...
The Alberta government has announced that the province’s Budget for the upcoming 2022-23 fiscal year will be brought down on Thursday February 24, at 3:15 p.m. The Budget speech can be viewed online...
AB - TRA issues revised updated Special Notice on tourism levy abatement extension
The province had previously announced that the existing tourism levy abatement, which permits eligible tourist sector operators to retain rather than remit tourism levy amounts collected, would be ext...
The province had previously announced that the existing tourism levy abatement, which permits eligible tourist sector operators to retain rather than remit tourism levy amounts collected, would be ext...
AB - Electronic filing required for Insurance Premiums Tax returns
The Alberta Tax and Revenue Administration (TRA) has announced that, effective for taxation years ending after December 31, 2021, all Insurance Premiums Tax returns must be filed electronically, using...
The Alberta Tax and Revenue Administration (TRA) has announced that, effective for taxation years ending after December 31, 2021, all Insurance Premiums Tax returns must be filed electronically, using...
AB - Alberta Tax and Revenue resumes normal compliance activities
The Alberta Tax and Revenue Administration (TRA) has announced that, effective as of January 2022, it has resumed all normal compliance activities with respect to filings and collections. Such collect...
The Alberta Tax and Revenue Administration (TRA) has announced that, effective as of January 2022, it has resumed all normal compliance activities with respect to filings and collections. Such collect...
AB - Interest Rates - 2022
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Province to provide abatement of tourism levy until March 31, 2022
Alberta Finance has announced that, in view of the continuing impact of the pandemic on the tourism sector, eligible businesses in that sector will be provided with an abatement of the provincial Tour...
Alberta Finance has announced that, in view of the continuing impact of the pandemic on the tourism sector, eligible businesses in that sector will be provided with an abatement of the provincial Tour...
AB - CRA issues TD1 form for Alberta residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Alberta for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for ...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Alberta for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for ...
AB - Province launches consultation process for 2022-23 Budget
The province has launched the public consultation process leading to the delivery of Alberta’s Budget for the 2022-23 fiscal year. That Budget will be brought down in February 2022. The consultation...
The province has launched the public consultation process leading to the delivery of Alberta’s Budget for the 2022-23 fiscal year. That Budget will be brought down in February 2022. The consultation...
AB - Alberta TRA updates and consolidates IFTA publications
The Alberta Tax and Revenue Administration has announced that existing information circulars relating to the International Fuel Trade Agreement (IFTA) have been revised and consolidated into a single ...
The Alberta Tax and Revenue Administration has announced that existing information circulars relating to the International Fuel Trade Agreement (IFTA) have been revised and consolidated into a single ...
AB - Mid-Year Fiscal Update shows improved deficit picture for 2021-22
On November 30, the province issued its Mid-Year Fiscal Update and Economic Forecast. Overall, the fiscal news was good, as the current deficit forecast for 2021-22 stands at $5.8 billion. That figure...
On November 30, the province issued its Mid-Year Fiscal Update and Economic Forecast. Overall, the fiscal news was good, as the current deficit forecast for 2021-22 stands at $5.8 billion. That figure...
AB - Province issues new guidance on IFTA registration, filing and payment
The International Fuel Tax Agreement (IFTA) enables uniform collection and distribution of fuel taxes paid by motor carriers traveling in several jurisdictions in Canada and the United States. The Alb...
The International Fuel Tax Agreement (IFTA) enables uniform collection and distribution of fuel taxes paid by motor carriers traveling in several jurisdictions in Canada and the United States. The Alb...
AB - Second intake period now open for Alberta Jobs Now program
Eligible employers can again apply for assistance under the Alberta Jobs Now program, as the second intake period for the program opened on November 10, 2021. That intake period applies to eligible ne...
Eligible employers can again apply for assistance under the Alberta Jobs Now program, as the second intake period for the program opened on November 10, 2021. That intake period applies to eligible ne...
AB - Listing of authorized software for Net File of corporate tax returns released
All Alberta corporations are required to file an Alberta Corporate Income Tax Return (AT1 Return) (with all applicable schedules) with the Alberta Tax and Revenue Administration (TRA) within six month...
All Alberta corporations are required to file an Alberta Corporate Income Tax Return (AT1 Return) (with all applicable schedules) with the Alberta Tax and Revenue Administration (TRA) within six month...
AB - Upcoming changes to the International Fuel Tax Agreement program
Between October 2021 and April 2022, the province will implement a number of significant changes to the administration of the IFTA program in Alberta. Those changes will affect the way in which carrie...
Between October 2021 and April 2022, the province will implement a number of significant changes to the administration of the IFTA program in Alberta. Those changes will affect the way in which carrie...
AB - One-time benefit available to SMEs for pandemic enforcement measures
The provincial government has announced that a one-time benefit of $2,000 will be made available to small and medium-sized Alberta businesses. That benefit is intended to help offset costs incurred by...
The provincial government has announced that a one-time benefit of $2,000 will be made available to small and medium-sized Alberta businesses. That benefit is intended to help offset costs incurred by...
AB - Province issues guidance on TRACS filing of corporate income tax documents
The province of Alberta provides an online system known as TRACS (Tax and Revenue Administration Client Self-Service) through which Alberta businesses can submit tax payments, registrations, applicati...
The province of Alberta provides an online system known as TRACS (Tax and Revenue Administration Client Self-Service) through which Alberta businesses can submit tax payments, registrations, applicati...
AB - Changes to third party access to client accounts effective October 1
The Alberta Tax and Revenue Administration (TRA) has announced that changes are being made with respect to access to client tax records by representatives. Effective as of October 1, third party repre...
The Alberta Tax and Revenue Administration (TRA) has announced that changes are being made with respect to access to client tax records by representatives. Effective as of October 1, third party repre...
AB - Interest Rates - 2021
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Province issues updated guide to Alberta Innovation Employment Grant
In 2020, the provincial government announced the creation of a new program — the Alberta Innovation Employment Grant (IEG) — to be made available to corporations working in the research and develo...
In 2020, the provincial government announced the creation of a new program — the Alberta Innovation Employment Grant (IEG) — to be made available to corporations working in the research and develo...
AB - Province issues first quarter fiscal update for 2021-22
Alberta Finance has released its report on the state of the province’s finances as of the end of the first quarter of the 2021-22 fiscal year. That quarter ended on June 30, 2021, and the province w...
Alberta Finance has released its report on the state of the province’s finances as of the end of the first quarter of the 2021-22 fiscal year. That quarter ended on June 30, 2021, and the province w...
AB - TRA issues list of approved software for corporate tax return preparation
The Alberta Tax and Revenue Administration (TRA) has issued a list of the software packages which are currently certified for use in the preparation and filing of Alberta corporate income tax (AT1) re...
The Alberta Tax and Revenue Administration (TRA) has issued a list of the software packages which are currently certified for use in the preparation and filing of Alberta corporate income tax (AT1) re...
AB - Application deadline for Critical Worker Benefit extended
As part of its pandemic relief measures, the province of Alberta introduced a Critical Worker Benefit program. Under the program, individuals in a broad range of sectors and occupations can receive a ...
As part of its pandemic relief measures, the province of Alberta introduced a Critical Worker Benefit program. Under the program, individuals in a broad range of sectors and occupations can receive a ...
AB - Special notice issued on province’s adoption of federal Budget measures
The 2021-22 federal Budget included measures providing for a current-year deduction of the cost of specified property acquired by a Canadian controlled private corporation after April 19, 2021, to a m...
The 2021-22 federal Budget included measures providing for a current-year deduction of the cost of specified property acquired by a Canadian controlled private corporation after April 19, 2021, to a m...
AB - Updated guide issued for Tourism Levy Return
Businesses in the province which offer temporary accommodation for sale are required to collect the provincial tourism levy and to file a return with respect to such amounts collected, on a monthly or...
Businesses in the province which offer temporary accommodation for sale are required to collect the provincial tourism levy and to file a return with respect to such amounts collected, on a monthly or...
AB - Province ends fiscal year with lower deficit
Final results for the 2020-21 fiscal year that ended March 31, 2021 show that Alberta ended that year with a deficit of $16.9 billion, $3.2 billion lower than the third-quarter deficit forecast. For t...
Final results for the 2020-21 fiscal year that ended March 31, 2021 show that Alberta ended that year with a deficit of $16.9 billion, $3.2 billion lower than the third-quarter deficit forecast. For t...
AB - Interest Rates - 2021
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Tax and Revenue Administration updates and re-issues tobacco tax publications
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued two publications relating to the province’s tobacco tax regime. The updated publications can be found on the TRA website at...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued two publications relating to the province’s tobacco tax regime. The updated publications can be found on the TRA website at...
AB - Province issues updated corporate income tax filing forms and publications
Provincial corporate income tax returns are due six months from a corporation’s tax year end. The Alberta Tax and Revenue Administration (TRA) recently updated and re-issued both the AT1 Corporate I...
Provincial corporate income tax returns are due six months from a corporation’s tax year end. The Alberta Tax and Revenue Administration (TRA) recently updated and re-issued both the AT1 Corporate I...
AB - Tourism levy abatement extended to June 30, 2021
As part of its pandemic relief measures, the provincial government allowed tourism operators in Alberta to retain all tourism levy amounts which they collected between March 1, 2020 and March 31, 2021...
As part of its pandemic relief measures, the provincial government allowed tourism operators in Alberta to retain all tourism levy amounts which they collected between March 1, 2020 and March 31, 2021...
AB - Updated circular issued on corporate income tax filing requirements
The Alberta Tax and Revenue Administration has updated and re-released corporate income tax Information Circular CT-2, Filing Requirements. That circular, which provides information on whether a corpo...
The Alberta Tax and Revenue Administration has updated and re-released corporate income tax Information Circular CT-2, Filing Requirements. That circular, which provides information on whether a corpo...
AB - Alberta Indian Tax Exemption cards discontinued in June 2021
Eligible holders of Alberta Indian Tax Exemption (AITE) cards are entitled to purchase fuel, tobacco, and accommodation exempt from tax on Alberta reserves. The Alberta Tax and Revenue Administration ...
Eligible holders of Alberta Indian Tax Exemption (AITE) cards are entitled to purchase fuel, tobacco, and accommodation exempt from tax on Alberta reserves. The Alberta Tax and Revenue Administration ...
AB - Temporary Rent Assistance Benefit program now open
Earlier this year, the province announced the creation of a Temporary Rent Assistance Benefit, and the application process for that program opened on May 1, 2021. The Temporary Rent Assistance Benefit...
Earlier this year, the province announced the creation of a Temporary Rent Assistance Benefit, and the application process for that program opened on May 1, 2021. The Temporary Rent Assistance Benefit...
AB - Application process for small business grant now open
The provincial government recently announced that the Small and Medium Enterprise Relaunch Grant (SMERG) program would be reopened for a new payment to businesses affected by the April 2021 public hea...
The provincial government recently announced that the Small and Medium Enterprise Relaunch Grant (SMERG) program would be reopened for a new payment to businesses affected by the April 2021 public hea...
AB - Expenditure cap for Film and Television Tax Credit eliminated
Through the Film and Television Tax Credit (FTTC) program, the province of Alberta provides eligible corporations that produce films, televisions series, and other eligible screen-based productions wi...
Through the Film and Television Tax Credit (FTTC) program, the province of Alberta provides eligible corporations that produce films, televisions series, and other eligible screen-based productions wi...
AB - New information notices issued on application of tourism levy to online accommodation bookings
In its 2021-22 Budget, the province announced that it would, effective as of April 1, 2021, extend the application of the provincial tourism levy to short-term rentals purchased through online marketp...
In its 2021-22 Budget, the province announced that it would, effective as of April 1, 2021, extend the application of the provincial tourism levy to short-term rentals purchased through online marketp...
AB - Province launches new rental benefits and subsidies
The government of Alberta has announced that, effective as of April 1, 2021, its existing Direct to Tenant Rent Supplement program will be replaced. Under the new program — the Rent Assistance Benef...
The government of Alberta has announced that, effective as of April 1, 2021, its existing Direct to Tenant Rent Supplement program will be replaced. Under the new program — the Rent Assistance Benef...
AB - March 31 deadline for applications for Working Parents Benefit
The provincial government has issued a reminder to eligible Alberta residents that the deadline for applying for the Working Parents Benefit is March 31, 2021. Parents who used childcare from April to...
The provincial government has issued a reminder to eligible Alberta residents that the deadline for applying for the Working Parents Benefit is March 31, 2021. Parents who used childcare from April to...
AB - Interest Rates - 2021
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Province issues guide to claiming the Innovation Employment Tax Grant
Alberta Tax and Revenue Administration has issued a detailed guide to claiming the provincial Innovation Employment Tax Grant. That Grant generally provides eligible corporations with a tax credit equ...
Alberta Tax and Revenue Administration has issued a detailed guide to claiming the provincial Innovation Employment Tax Grant. That Grant generally provides eligible corporations with a tax credit equ...
AB - 2021-22 Budget projects multi-year deficits
The 2021-22 provincial Budget brought down on February 25 projects that Alberta will be in a deficit position at least until the end of the 2023-24 fiscal year. The Budget projects a deficit of $18.2 ...
The 2021-22 provincial Budget brought down on February 25 projects that Alberta will be in a deficit position at least until the end of the 2023-24 fiscal year. The Budget projects a deficit of $18.2 ...
AB - Province to provide small and medium-sized business relaunch grants
The Alberta government has announced that it will be making grants of up to $20,000 available to small and medium-sized businesses in the province which experienced significant revenue loss due to the...
The Alberta government has announced that it will be making grants of up to $20,000 available to small and medium-sized businesses in the province which experienced significant revenue loss due to the...
AB - Province issues information circular and guide for Alberta Innovation Employment Grant program
The Alberta Innovation Employment Grant (IEG) program, which provides a refundable tax credit to qualified corporations that incur eligible expenditures in respect of IEG activities carried out in Alb...
The Alberta Innovation Employment Grant (IEG) program, which provides a refundable tax credit to qualified corporations that incur eligible expenditures in respect of IEG activities carried out in Alb...
AB - Individual income tax rates and brackets for 2021
During the 2021 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate ...
During the 2021 taxation year, the province of Alberta will impose personal income tax using the following taxable income brackets and tax rates. Tax Rate ...
AB - Personal tax credit amounts for 2021
The province of Alberta will provide the following personal tax amounts for 2021. Basic personal amount ……………………………… $19,369 Spouse or common law partner amount …… $19,36...
The province of Alberta will provide the following personal tax amounts for 2021. Basic personal amount ……………………………… $19,369 Spouse or common law partner amount …… $19,36...
AB - Interest Rates - 2021
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Alberta TRA issues Special Notice on new research and development tax credit
Effective as of January 1, 2020, the existing Alberta Scientific Research and Experimental Development (SR&ED) Tax Credit was eliminated. However, as of January 1, 2021, businesses in the province...
Effective as of January 1, 2020, the existing Alberta Scientific Research and Experimental Development (SR&ED) Tax Credit was eliminated. However, as of January 1, 2021, businesses in the province...
AB - Fuel tax information updates issued by Alberta TRA
The province of Alberta levies a tax on purchases of a number of types of fuel, including gasoline, diesel, and aviation fuel. The Alberta Tax and Revenue Administration (TRA) recently updated and re-...
The province of Alberta levies a tax on purchases of a number of types of fuel, including gasoline, diesel, and aviation fuel. The Alberta Tax and Revenue Administration (TRA) recently updated and re-...
AB - Province expands small business pandemic relief program
The Alberta government has announced that the Small and Medium Enterprise Relaunch Grant program which was announced earlier this year has been expanded. The existing Program provides financial assist...
The Alberta government has announced that the Small and Medium Enterprise Relaunch Grant program which was announced earlier this year has been expanded. The existing Program provides financial assist...
AB - Province issues updated fiscal forecast for 2020-21
On November 24, the provincial Minister of Finance released Alberta’s Mid-Year Fiscal Update, which included some good financial news. Figures contained in the update indicated that the provincial g...
On November 24, the provincial Minister of Finance released Alberta’s Mid-Year Fiscal Update, which included some good financial news. Figures contained in the update indicated that the provincial g...
AB - Updated information issued on interest and penalty relief
Taxpayers in Alberta can request relief from interest and penalties imposed under a variety of tax statutes and programs, including provincial corporate income tax, fuel tax, tobacco tax, and the tour...
Taxpayers in Alberta can request relief from interest and penalties imposed under a variety of tax statutes and programs, including provincial corporate income tax, fuel tax, tobacco tax, and the tour...
AB - Province updates publications on Alberta Indian Tax Exemption Program
Alberta Tax and Revenue has updated and re-issued three Information Circulars dealing with the Alberta Indian Tax Exemption Program (AITE). Those updated Information Circulars are as follows: AITE-1R...
Alberta Tax and Revenue has updated and re-issued three Information Circulars dealing with the Alberta Indian Tax Exemption Program (AITE). Those updated Information Circulars are as follows: AITE-1R...
AB - Alberta Tax and Revenue Administration issues updated consent forms for multiple tax programs
The Alberta Tax and Revenue Administration (TRA) has issued updated consent forms to be used for purposes of the province’s corporate income tax, fuel tax, tobacco tax, tourism levy, and Internation...
The Alberta Tax and Revenue Administration (TRA) has issued updated consent forms to be used for purposes of the province’s corporate income tax, fuel tax, tobacco tax, tourism levy, and Internation...
AB - Consultation process for 2021-22 provincial Budget underway
The provincial government has launched the consultation process for Alberta’s 2021-2022 Budget, to be brought down next spring. The consultation process begins with an online survey, which can be fo...
The provincial government has launched the consultation process for Alberta’s 2021-2022 Budget, to be brought down next spring. The consultation process begins with an online survey, which can be fo...
AB - Province extends filing deadlines for SR&ED claims
The Alberta Tax and Revenue Administration (TRA) has announced that the filing deadlines with respect to claims for the provincial Scientific Research and Experimental Development (SR&ED) tax cred...
The Alberta Tax and Revenue Administration (TRA) has announced that the filing deadlines with respect to claims for the provincial Scientific Research and Experimental Development (SR&ED) tax cred...
AB - Interest Rates - 2020
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Alberta Finance issues updated Corporate Income Tax Information Circulars
Alberta Finance has updated and re-issued a number of publications relating to provincial corporate income tax filing and payment obligations, as well as the conduct of audits carried out in relation ...
Alberta Finance has updated and re-issued a number of publications relating to provincial corporate income tax filing and payment obligations, as well as the conduct of audits carried out in relation ...
AB - Provincial corporate income tax balances due September 30, 2020
Earlier this year, the province announced that the payment deadline for certain provincial corporate income tax balances payable would be deferred. Consequently, Alberta businesses with such income ta...
Earlier this year, the province announced that the payment deadline for certain provincial corporate income tax balances payable would be deferred. Consequently, Alberta businesses with such income ta...
AB - Province announces first quarter results for 2020-21
The province has issued a report on its first quarter (April 1 to June 30) results for the 2020-21 fiscal year and the fiscal news is not good. First-quarter projections show a significant increase to...
The province has issued a report on its first quarter (April 1 to June 30) results for the 2020-21 fiscal year and the fiscal news is not good. First-quarter projections show a significant increase to...
AB - Alberta Finance issues updated corporate income tax return forms
Alberta Finance has updated and re-issued the tax forms required for filing of provincial corporate income tax returns, as well as the guide to preparing those returns. Those forms and the guide are a...
Alberta Finance has updated and re-issued the tax forms required for filing of provincial corporate income tax returns, as well as the guide to preparing those returns. Those forms and the guide are a...
AB - Province updates Notice on tourism levy remittance exemption
Alberta Finance has issued an updated notice (Special Notice Vol. 7, No. 10) confirming that temporary accommodation operators in the province are not required to remit tourism levy amounts collected ...
Alberta Finance has issued an updated notice (Special Notice Vol. 7, No. 10) confirming that temporary accommodation operators in the province are not required to remit tourism levy amounts collected ...
AB - Deadline for payment of corporate income tax extended to September 30, 2020
Alberta Finance has issued an updated Corporate Income Tax Special Notice (Vol. 5, No. 59) indicating that Alberta corporations with income tax balances owing on or after March 18, 2020, or installmen...
Alberta Finance has issued an updated Corporate Income Tax Special Notice (Vol. 5, No. 59) indicating that Alberta corporations with income tax balances owing on or after March 18, 2020, or installmen...
AB - Deferred corporate income tax payments due August 31
Earlier this year, the provincial government announced that Alberta businesses with corporate income tax balances that become owing on or after March 18, 2020, or installment payments coming due betwe...
Earlier this year, the provincial government announced that Alberta businesses with corporate income tax balances that become owing on or after March 18, 2020, or installment payments coming due betwe...
AB - Province to provide relaunch grants to qualifying businesses
The government of Alberta has announced that eligible small and medium-sized businesses in the province may receive a grant to help offset re-launch costs. The Small and Medium Enterprise Relaunch Gra...
The government of Alberta has announced that eligible small and medium-sized businesses in the province may receive a grant to help offset re-launch costs. The Small and Medium Enterprise Relaunch Gra...
AB - Province adds to online payment options for taxpayers
During the current pandemic, the Alberta Tax and Revenue Administration (TRA) has requested that taxpayers pay any amounts due through electronic means. The TRA recently announced that, to further fac...
During the current pandemic, the Alberta Tax and Revenue Administration (TRA) has requested that taxpayers pay any amounts due through electronic means. The TRA recently announced that, to further fac...
AB - Province reinstates IFTA registration requirements
Earlier this year, in conjunction with the provincial state of emergency, the provincial government temporarily suspended all registration and credential requirements with respect to the International...
Earlier this year, in conjunction with the provincial state of emergency, the provincial government temporarily suspended all registration and credential requirements with respect to the International...
AB - Province reduces corporate income tax rate effective July 1
The Alberta government released its Recovery Plan on June 29, 2020, which included the announcement of an immediate cut to the provincial general corporate income tax rate. Effective July 1, 2020, tha...
The Alberta government released its Recovery Plan on June 29, 2020, which included the announcement of an immediate cut to the provincial general corporate income tax rate. Effective July 1, 2020, tha...
AB - Interest Rates - 2020
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Alberta Child and Family Benefit to begin July 1, 2020
Effective July 1, 2020, the current Alberta Child Benefit and the Alberta Family Employment Tax Credit will be replaced by a single benefit, the Alberta Child and Family Benefit. The first quarterly p...
Effective July 1, 2020, the current Alberta Child Benefit and the Alberta Family Employment Tax Credit will be replaced by a single benefit, the Alberta Child and Family Benefit. The first quarterly p...
AB - Interest Rates - 2020
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - June 5 deadline for spring flood relief applications
The Alberta government is providing one-time emergency financial assistance for spring flood evacuees to help them with costs while they were evacuated. Adults can receive $1,250, plus $500 for each c...
The Alberta government is providing one-time emergency financial assistance for spring flood evacuees to help them with costs while they were evacuated. Adults can receive $1,250, plus $500 for each c...
AB - Further deferral of corporate income tax return filing deadlines
The province had previously announced that the deadline for income tax returns to be filed by corporations between March 18 and June 1, 2020 would be deferred until June 1, 2020. That deferral announc...
The province had previously announced that the deadline for income tax returns to be filed by corporations between March 18 and June 1, 2020 would be deferred until June 1, 2020. That deferral announc...
AB - Additional relief provided for tourism industry
Alberta imposes a tourism levy which must be collected and remitted by operators of tourist accommodations in the province. The provincial government had previously announced that the remittance deadl...
Alberta imposes a tourism levy which must be collected and remitted by operators of tourist accommodations in the province. The provincial government had previously announced that the remittance deadl...
AB - Upcoming changes to provincial child and family benefits
As originally announced in the 2019 provincial Budget, the current Alberta Family Employment Tax Credit and the Alberta Child Benefit will be combined into the new Alberta Child and Family Benefit, ef...
As originally announced in the 2019 provincial Budget, the current Alberta Family Employment Tax Credit and the Alberta Child Benefit will be combined into the new Alberta Child and Family Benefit, ef...
AB - Deferral of corporate income tax filing and payment deadlines
Earlier this year, the province announced that corporate income tax filing and payment deadlines occurring after March 18, 2020 and before June 1, 2020 would be extended. The Alberta Tax and Revenue A...
Earlier this year, the province announced that corporate income tax filing and payment deadlines occurring after March 18, 2020 and before June 1, 2020 would be extended. The Alberta Tax and Revenue A...
AB - Rent relief provided to Alberta small business tenants
The provincial government has announced that rent relief will be provided to small businesses in the province through the Canada Emergency Commercial Rent Assistance (CECRA) program. That program will...
The provincial government has announced that rent relief will be provided to small businesses in the province through the Canada Emergency Commercial Rent Assistance (CECRA) program. That program will...
AB - Deadline extended for first quarter International Fuel Tax Agreement returns
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol.10, No. 4) indicating that the filing deadline for returns under the International Fuel Tax Agreement (IFTA) has been ...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol.10, No. 4) indicating that the filing deadline for returns under the International Fuel Tax Agreement (IFTA) has been ...
AB - Provincial corporate income tax filing deadline extended
The Alberta Tax and Revenue Administration has issued a corporate income tax Special Notice (Vol. 5, No. 57) providing that filing deadlines for provincial corporate income tax returns have been exten...
The Alberta Tax and Revenue Administration has issued a corporate income tax Special Notice (Vol. 5, No. 57) providing that filing deadlines for provincial corporate income tax returns have been exten...
AB - Interest Rates - 2020
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Province announces deferral of tourism levy remittance amounts
The provincial government has announced that temporary accommodation providers in Alberta with tourism levy remittances coming due between March 27, 2020 and August 31, 2020 may defer making these pay...
The provincial government has announced that temporary accommodation providers in Alberta with tourism levy remittances coming due between March 27, 2020 and August 31, 2020 may defer making these pay...
AB - Corporate income tax payment deadlines deferred
The provincial government has announced that Alberta businesses with corporate income tax balances that become owing on or after March 18, 2020, or instalment payments coming due between March 18, 202...
The provincial government has announced that Alberta businesses with corporate income tax balances that become owing on or after March 18, 2020, or instalment payments coming due between March 18, 202...
AB - Tourism levy to apply to short-term rentals through online rental platforms
The province of Alberta imposes a levy of 4% on most types of temporary accommodation rentals in the province. Under current legislation an exemption from that levy is provided for rentals in establis...
The province of Alberta imposes a levy of 4% on most types of temporary accommodation rentals in the province. Under current legislation an exemption from that levy is provided for rentals in establis...
AB - Additional corporate tax rate reductions to be provided
The 2020-21 provincial Budget brought down on February 27 included the announcement of further cuts to Alberta’s general corporate income tax rate. That rate was reduced from 11% to 10% effective Ja...
The 2020-21 provincial Budget brought down on February 27 included the announcement of further cuts to Alberta’s general corporate income tax rate. That rate was reduced from 11% to 10% effective Ja...
AB - Province introduces corporate Film and Television Tax Credit
In the 2019-20 Budget, the Alberta government announced that its grant-based program for the province’s film industry would be eliminated and replaced with a tax credit program. That new corporate t...
In the 2019-20 Budget, the Alberta government announced that its grant-based program for the province’s film industry would be eliminated and replaced with a tax credit program. That new corporate t...
AB - 2020-21 Budget date announced
The Alberta Treasurer has announced that the province’s Budget for the upcoming (2020-21) fiscal year will be released on Thursday February 27, 2020, at approximately 3:15 p.m. The announcement of t...
The Alberta Treasurer has announced that the province’s Budget for the upcoming (2020-21) fiscal year will be released on Thursday February 27, 2020, at approximately 3:15 p.m. The announcement of t...
AB - Province posts current corporate income tax return forms
Alberta Finance has posted on its website the corporate income tax forms to be used by Alberta corporations for fiscal years ending after July 1, 2019. The new forms posted are as follows: AT1 – Alb...
Alberta Finance has posted on its website the corporate income tax forms to be used by Alberta corporations for fiscal years ending after July 1, 2019. The new forms posted are as follows: AT1 – Alb...
AB - 2019 tax return package for Alberta residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Alberta as of December 31, 2019. That return and guide can be fo...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Alberta as of December 31, 2019. That return and guide can be fo...
AB - Province launches 2020 Budget consultation process
The province has launched the budget consultation process leading to the release of the 2020-21 provincial Budget this spring. That consultation process will include an online survey and two telephone...
The province has launched the budget consultation process leading to the release of the 2020-21 provincial Budget this spring. That consultation process will include an online survey and two telephone...
AB - Interest Rates - 2020
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Personal tax credit amounts for 2020
Alberta will provide the following personal tax credit amounts for 2020:Basic personal amount ……………………………… $19,369Spouse or common law partner amount …… $19,369 l...
Alberta will provide the following personal tax credit amounts for 2020:Basic personal amount ……………………………… $19,369Spouse or common law partner amount …… $19,369 l...
AB - Individual income tax rates and brackets for 2020
During the 2020 taxation year the province of Alberta will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
During the 2020 taxation year the province of Alberta will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
AB - Province eliminates Community Economic Development Corporation tax credit
The province of Alberta has provided a Community Economic Development Corporation (CEDC) tax credit to encourage rural economic development and, under that program, individual or corporate investors i...
The province of Alberta has provided a Community Economic Development Corporation (CEDC) tax credit to encourage rural economic development and, under that program, individual or corporate investors i...
AB - Province eliminates Alberta Investor Tax Credit
The Alberta Investor Tax Credit (AITC) offered a 30% tax credit to investors in the province who provided equity capital to Alberta small businesses doing research, development, or commercialization...
The Alberta Investor Tax Credit (AITC) offered a 30% tax credit to investors in the province who provided equity capital to Alberta small businesses doing research, development, or commercialization...
AB - Online consultation on provincial employment standards review
The province has announced that it is carrying out an online consultation process as part of a review of the province’s employment standards laws. That online survey will be available until Thursday...
The province has announced that it is carrying out an online consultation process as part of a review of the province’s employment standards laws. That online survey will be available until Thursday...
AB - Provincial eliminates Interactive Digital Media Tax Credit
In the recent provincial Budget, it was announced that the Interactive Digital Media Tax Credit (IDMC) was being eliminated. That program offered a 25% refundable tax credit for labour costs associate...
In the recent provincial Budget, it was announced that the Interactive Digital Media Tax Credit (IDMC) was being eliminated. That program offered a 25% refundable tax credit for labour costs associate...
AB - Provincial Budget eliminates scientific research tax credit program
Alberta's Scientific Research and Experimental Development Tax Credit (SR&ED) program provides a refundable tax credit to corporations for SR&ED expenditures carried out in Alberta by the corp...
Alberta's Scientific Research and Experimental Development Tax Credit (SR&ED) program provides a refundable tax credit to corporations for SR&ED expenditures carried out in Alberta by the corp...
AB - Province to eliminate tuition and education tax credits
In the 2019 Budget released on October 24, the government of Alberta announced that it will be eliminating the existing provincial tuition and education tax credits claimable by post-secondary student...
In the 2019 Budget released on October 24, the government of Alberta announced that it will be eliminating the existing provincial tuition and education tax credits claimable by post-secondary student...
AB - Information issued on 2020 IFTA licence renewals
The Alberta Tax and Revenue Administration (TRA) has posted information on its website on how to renew an International Fuel Tax Agreement (IFTA) licence for 2020. Such renewals can be done online, th...
The Alberta Tax and Revenue Administration (TRA) has posted information on its website on how to renew an International Fuel Tax Agreement (IFTA) licence for 2020. Such renewals can be done online, th...
AB - IFTA rates for third quarter of 2019
The Alberta government has announced the rates which will apply for purposes of the International Fuel Tax Agreement during the third quarter (July 1 to September 30) of 2019. IFTA is an agreement am...
The Alberta government has announced the rates which will apply for purposes of the International Fuel Tax Agreement during the third quarter (July 1 to September 30) of 2019. IFTA is an agreement am...
AB - Interest Rates - 2019
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid fo...
AB - Province issues updated bulletin on corporate income tax filing requirements
Most corporations having a permanent establishment in the province of Alberta are required to file a provincial corporate income tax return by a specified deadline each year. The Alberta Tax and Reven...
Most corporations having a permanent establishment in the province of Alberta are required to file a provincial corporate income tax return by a specified deadline each year. The Alberta Tax and Reven...
AB - Province issues updated bulletin on SR&ED tax credits
The province provides eligible corporations which carry on scientific research and experimental development (SR&ED) work within Alberta with a refundable tax credit generally equal to 10% of the c...
The province provides eligible corporations which carry on scientific research and experimental development (SR&ED) work within Alberta with a refundable tax credit generally equal to 10% of the c...
AB - Changes made to wage payment requirements effective September 1
As part of its general review of the province’s employment standards rules, the Alberta government has made changes to the rules governing the payment of wages for work done on holidays. A summary o...
As part of its general review of the province’s employment standards rules, the Alberta government has made changes to the rules governing the payment of wages for work done on holidays. A summary o...
AB - Province establishes panel to study minimum wage changes
The Alberta government has announced that it has appointed an expert panel to study and make recommendations with respect to the province’s minimum wage structure. The panel will, in particular, be ...
The Alberta government has announced that it has appointed an expert panel to study and make recommendations with respect to the province’s minimum wage structure. The panel will, in particular, be ...
AB - Provincial general corporate income tax rate reduced
The general corporate provincial income tax rate imposed by the province was reduced, effective as of July 1, 2019, from 12% to 11%. That change was the first in a multi-step reduction of the provinci...
The general corporate provincial income tax rate imposed by the province was reduced, effective as of July 1, 2019, from 12% to 11%. That change was the first in a multi-step reduction of the provinci...
AB - Province to adopt accelerated write-offs for qualifying energy expenditures
The Alberta Tax and Revenue Administration has issued a Corporate Income Tax Special Notice (Vol. 5, No. 53) confirming that the province has adopted the measures announced in the 2018 Federal Economi...
The Alberta Tax and Revenue Administration has issued a Corporate Income Tax Special Notice (Vol. 5, No. 53) confirming that the province has adopted the measures announced in the 2018 Federal Economi...
AB - Interest Rates - 2019
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Instructions issued for June 30 IFTA split-rate filings
Alberta motor carriers which operate in multiple jurisdictions and are members of the International Fuel Tax Agreement (IFTA) must file returns quarterly. The next such return is due on June 30, 2019....
Alberta motor carriers which operate in multiple jurisdictions and are members of the International Fuel Tax Agreement (IFTA) must file returns quarterly. The next such return is due on June 30, 2019....
AB - Additional information issued on elimination of carbon tax
The provincial carbon tax was eliminated by the Alberta government, effective as of May 30, 2019. As a consequence of the elimination of the tax, a number of transitional rules are required, and the p...
The provincial carbon tax was eliminated by the Alberta government, effective as of May 30, 2019. As a consequence of the elimination of the tax, a number of transitional rules are required, and the p...
AB - Province eliminates carbon tax
The government of Alberta has repealed the province’s carbon tax, effective as of May 30, 2019. In order to obtain a refund of carbon tax paid on fuel held in inventory on May 30, fuel sellers must ...
The government of Alberta has repealed the province’s carbon tax, effective as of May 30, 2019. In order to obtain a refund of carbon tax paid on fuel held in inventory on May 30, fuel sellers must ...
AB - NETFILE required for certain provincial corporate income tax returns
Corporations in the province of Alberta are required to file provincial corporate income tax returns, with such returns due within 6 months after the corporation’s taxation year end. That deadline m...
Corporations in the province of Alberta are required to file provincial corporate income tax returns, with such returns due within 6 months after the corporation’s taxation year end. That deadline m...
AB - Province confirms upcoming reductions to general business income tax rate
The government of Alberta has confirmed that it will be introducing legislation to reduce the general business provincial income tax rate. The current rate is 12%. The legislation, once enacted, will ...
The government of Alberta has confirmed that it will be introducing legislation to reduce the general business provincial income tax rate. The current rate is 12%. The legislation, once enacted, will ...
AB - Interest Rates - 2019
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Updates issued on Alberta fuel tax rates and filings
The Alberta Tax and Revenue Administration has announced that, effective as of March 18, 2019, most fuel tax returns and claims can be filed through the province’s TRACS (Tax and Revenue Administrat...
The Alberta Tax and Revenue Administration has announced that, effective as of March 18, 2019, most fuel tax returns and claims can be filed through the province’s TRACS (Tax and Revenue Administrat...
AB - New publications issued on Alberta Indian Tax Exemption
Through the Alberta Indian Tax Exemption (AITE), the province of Alberta provides eligible consumers with an exemption from fuel tax and carbon levy, tobacco tax, and the provincial tourism levy. The ...
Through the Alberta Indian Tax Exemption (AITE), the province of Alberta provides eligible consumers with an exemption from fuel tax and carbon levy, tobacco tax, and the provincial tourism levy. The ...
AB - Third quarter fiscal update shows decreased deficit
The third quarter fiscal update issued by the Provincial Treasurer on February 27 shows a decreased deficit for the current (2018-19) fiscal year. The deficit for the current year was forecast to reac...
The third quarter fiscal update issued by the Provincial Treasurer on February 27 shows a decreased deficit for the current (2018-19) fiscal year. The deficit for the current year was forecast to reac...
AB - Information issued on claiming a carbon tax levy exemption or rebate
Residents of Alberta who use fuel for eligible activities may apply for an exemption certificate in order to obtain such fuel exempt from the carbon levy at the time of purchase. Those who were charge...
Residents of Alberta who use fuel for eligible activities may apply for an exemption certificate in order to obtain such fuel exempt from the carbon levy at the time of purchase. Those who were charge...
AB - Prescribed areas for livestock tax deferral for 2018
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
AB - Province launches consultation process for 2019-20 Budget
The province of Alberta has started the consultation process for the upcoming 2019-20 provincial Budget. A budget consultation webpage on which submissions can be made is available on the Alberta gove...
The province of Alberta has started the consultation process for the upcoming 2019-20 provincial Budget. A budget consultation webpage on which submissions can be made is available on the Alberta gove...
AB - Interest Rates - 2019
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - CRA issues supplementary 2019 payroll deduction tables for Alberta residents
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Alberta during the 2019 tax year.The supplement, which can be found on the CRA website at ...
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Alberta during the 2019 tax year.The supplement, which can be found on the CRA website at ...
AB - Interest Rates - 2019
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - 2018-19 deficit lower than Budget forecast
The second quarter update of provincial finances which was recently announced by the Alberta government shows that the province’s deficit for the current (2018-19) fiscal year is now forecast to be ...
The second quarter update of provincial finances which was recently announced by the Alberta government shows that the province’s deficit for the current (2018-19) fiscal year is now forecast to be ...
AB - Personal tax credit amounts for 2019
The province of Alberta will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $19,369 Spouse or equivalent to spouse amount …...
The province of Alberta will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $19,369 Spouse or equivalent to spouse amount …...
AB - Special Notice issued on Community Economic Development Corporation tax credit
The Alberta Tax and Revenue Administration has issued a Special Notice (Vol. 5, No. 50) on the province’s Community Economic Development Corporation (CEDC)Tax Credit. The tax credit program is avail...
The Alberta Tax and Revenue Administration has issued a Special Notice (Vol. 5, No. 50) on the province’s Community Economic Development Corporation (CEDC)Tax Credit. The tax credit program is avail...
AB - Changes to province’s online tax system take effect November 19
As previously announced, the province will be making changes to its online tax service (TRACS), and those changes will take effect as of Monday November 19, 2018. On that date, current user IDs and pa...
As previously announced, the province will be making changes to its online tax service (TRACS), and those changes will take effect as of Monday November 19, 2018. On that date, current user IDs and pa...
AB - Changes to IFTA licences and cards format in 2019
The provincial government has announced that, as of January 1, 2019, motor carriers will be allowed to carry their IRP cab cards and IFTA licences in electronic format, and that they will have the cho...
The provincial government has announced that, as of January 1, 2019, motor carriers will be allowed to carry their IRP cab cards and IFTA licences in electronic format, and that they will have the cho...
AB - Applications available for 2018-19 Community Economic Development Corporation Tax Credit
The provincial government has announced that applications are now being accepted for the 2018-19 intake period of the Community Economic Development Corporation (CEDC) tax credit program. In order to ...
The provincial government has announced that applications are now being accepted for the 2018-19 intake period of the Community Economic Development Corporation (CEDC) tax credit program. In order to ...
AB - Province issues information on tax payments and receipts during a postal disruption
The Alberta Tax and Revenue Administration has posted information on its website with respect to a possible postal service disruption. The TRA information indicates that all taxpayers will continue to...
The Alberta Tax and Revenue Administration has posted information on its website with respect to a possible postal service disruption. The TRA information indicates that all taxpayers will continue to...
AB - Minimum wage increase effective October 1, 2018
As previously announced, the Alberta general minimum wage increased, effective as of October 1, 2018, from $13.60 per hour to $15 per hour. The general minimum wage applies to most employees in the pr...
As previously announced, the Alberta general minimum wage increased, effective as of October 1, 2018, from $13.60 per hour to $15 per hour. The general minimum wage applies to most employees in the pr...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Changes planned to provincial online tax services
The province of Alberta provides individual and corporate residents with the option of carrying out their tax filing and payment obligations online, through the province’s Tax and Revenue Administra...
The province of Alberta provides individual and corporate residents with the option of carrying out their tax filing and payment obligations online, through the province’s Tax and Revenue Administra...
AB - Province issues updated IFTA registration form
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued a required form under the International Fuel Tax Agreement (IFTA). The new form, which is required in order to register for I...
The Alberta Tax and Revenue Administration (TRA) has updated and re-issued a required form under the International Fuel Tax Agreement (IFTA). The new form, which is required in order to register for I...
AB - First quarter financial results show reduced deficit
The provincial government recently announced the province’s fiscal results for the first quarter (April 1 to June 30) of the 2018-19 fiscal year. Those results show that the 2019 economic forecast h...
The provincial government recently announced the province’s fiscal results for the first quarter (April 1 to June 30) of the 2018-19 fiscal year. Those results show that the 2019 economic forecast h...
AB - Minimum wage to increase effective October 1, 2018
As previously announced, the general minimum wage payable in Alberta will increase, effective October 1, 2018, to $15 per hour. The general hourly minimum wage applies to most employees in the provinc...
As previously announced, the general minimum wage payable in Alberta will increase, effective October 1, 2018, to $15 per hour. The general hourly minimum wage applies to most employees in the provinc...
AB - Capital Investment Tax Credit 4th intake period announced
The province provides a Capital Investment Tax Credit (CITC) to qualifying Alberta companies which make capital investments in qualifying assets, including machinery, equipment, and buildings. The non...
The province provides a Capital Investment Tax Credit (CITC) to qualifying Alberta companies which make capital investments in qualifying assets, including machinery, equipment, and buildings. The non...
AB - Consultation process on new condominium regulations ends July 31
Following an earlier consultation process, the provincial government has drafted new regulations that govern certain rights of condominium owners. Those draft regulations cover such matters as improve...
Following an earlier consultation process, the provincial government has drafted new regulations that govern certain rights of condominium owners. Those draft regulations cover such matters as improve...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - Province issues updated Circular on Voluntary Disclosure Program
The Alberta Tax and Revenue Administration (TRA) administers a Voluntary Disclosure Program (VDP) under which the Minister can provide corporate taxpayers with relief from provincial interest and pena...
The Alberta Tax and Revenue Administration (TRA) administers a Voluntary Disclosure Program (VDP) under which the Minister can provide corporate taxpayers with relief from provincial interest and pena...
AB - Province extends investor tax credits to 2021-22
The province of Alberta provides two tax credits intended to encourage investment by individuals and corporations in the manufacturing and processing, tourism, and new technology sectors. The Alberta ...
The province of Alberta provides two tax credits intended to encourage investment by individuals and corporations in the manufacturing and processing, tourism, and new technology sectors. The Alberta ...
AB - TRA issues new notices on tax-free fuel exports
Under Alberta’s fuel and carbon tax regimes, no fuel tax or carbon tax is generally payable where fuel sales are for export from the province in bulk. The Alberta Tax and Revenue Administration has ...
Under Alberta’s fuel and carbon tax regimes, no fuel tax or carbon tax is generally payable where fuel sales are for export from the province in bulk. The Alberta Tax and Revenue Administration has ...
AB - Energy Efficiency Alberta warns of phishing scam
Energy Efficiency Alberta administers a number of programs which enable consumers who purchase energy efficient equipment and appliances to qualify for rebates. The Agency has recently posted a warnin...
Energy Efficiency Alberta administers a number of programs which enable consumers who purchase energy efficient equipment and appliances to qualify for rebates. The Agency has recently posted a warnin...
AB - Province announces creation of Interactive Digital Media Tax Credit
Earlier this year the provincial government announced the creation of a new Interactive Digital Media (IDM) Tax Credit. The credit is available in respect of eligible labour costs paid after April 1, ...
Earlier this year the provincial government announced the creation of a new Interactive Digital Media (IDM) Tax Credit. The credit is available in respect of eligible labour costs paid after April 1, ...
AB - Full licensing requirement for residential builders effective May 1
Last year, the Alberta government announced that residential builders in the province would be required to be licenced, effective as of December 1, 2017. Temporary licences which were obtained on that...
Last year, the Alberta government announced that residential builders in the province would be required to be licenced, effective as of December 1, 2017. Temporary licences which were obtained on that...
AB - Updated Tobacco Tax Information Circular issued by TRA
The Alberta Tax and Revenue Administration has updated and re-issued its Tobacco Tax Information Circular (TTA-4R6) which summarizes the licensing, reporting, and remitting requirements imposed by the...
The Alberta Tax and Revenue Administration has updated and re-issued its Tobacco Tax Information Circular (TTA-4R6) which summarizes the licensing, reporting, and remitting requirements imposed by the...
AB - TRA expands FAQ document on Carbon Levy
The Alberta Tax and Revenue Administration (TRA) has added additional topics to its FAQ document providing information with respect to a variety of issues which can arise under the province’s carbon...
The Alberta Tax and Revenue Administration (TRA) has added additional topics to its FAQ document providing information with respect to a variety of issues which can arise under the province’s carbon...
AB - Province issues updated corporate income tax forms
The Alberta Tax and Revenue Administration has issued updated forms for use by companies in filing their provincial corporate income tax returns. The following new forms have been posted on the TRA we...
The Alberta Tax and Revenue Administration has issued updated forms for use by companies in filing their provincial corporate income tax returns. The following new forms have been posted on the TRA we...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - No tax increases in 2018-19 provincial Budget
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to the ...
The Alberta Minister of Finance brought down the province’s 2018-19 Budget on March 22, 2018. There were no changes to personal or corporate tax rates announced in the Budget, and no changes to the ...
AB - Province announces upgrades to online tax services
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of differ...
The Alberta Tax and Revenue Administration (TRA) provides online tax services to individuals and businesses through its TRACS program. TRA has announced that new online services for a number of differ...
AB - TEFU registration numbers extended to 2020
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to ...
The Alberta Tax and Revenue Administration (TRA) has issued a Special Notice (Vol. 1, No. 40) with respect to the expiry date of current Tax Exempt Fuel User Numbers. Current numbers are scheduled to ...
AB - Third Quarter Fiscal Update includes reduced deficit projection
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down significantl...
The 2017-18 Third Quarter Fiscal Update announced by the provincial government at the end of February indicates that the province’s projected deficit for the 2017-18 fiscal year is down significantl...
AB - Province expands energy efficiency rebate program
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
The province of Alberta currently provides a rebate program for businesses which make investments in energy efficiency. The provincial government recently announced that that energy efficiency rebate ...
AB - Personal tax credit amounts for 2018
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………………….…...
For the 2018 tax year, individuals resident in the province of Alberta will be able to claim the following non-refundable personal tax credit amounts: Basic personal amount ………………….…...
AB - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on taxa...
For the 2018 tax year, the province of Alberta will levy personal income tax at the following individual income tax rates and brackets: 10% on taxable income between $18,915 and $128,145; 12% on taxa...
AB - Province launches 2018-19 Budget consultation process
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
The provincial government has announced the start of the consultation process leading to the release of the 2018-19 Budget. That process has several components, including an online survey, which will ...
AB - Warning issued on fraudulent tax refund texts
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages s...
The Alberta Tax and Revenue Administration (TRA) has issued a warning to Alberta taxpayers of a tax scam which is currently operating in the province. That tax scam involves fraudulent text messages s...
AB - Interest Rates - 2018
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
The province of Alberta levies and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates to be levied and p...
AB - CRA releases 2017 T1 tax return form for Alberta residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Alberta at the end of that year. The T1 form package (w...
AB - Changes to carbon levy take effect January 1
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change will b...
Effective as of January 1 2018, changes have been made to Alberta’s carbon levy program. Those changes include an increase in the carbon levy, from $20 per tonne to $30 per tonne. That change will b...
AB - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Alberta employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
AB - Licensing of residential home builders now required
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
As of December 1, 2017, residential builders in Alberta require a license to build homes and secure warranty coverage. In order to be licensed, builders must provide information about their finances, ...
AB - Mandatory electronic filing of provincial corporate tax returns
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for r...
The Alberta Tax and Revenue Administration has issued a Special Notice advising corporations of upcoming changes to filing requirements for income tax returns. The new requirements are effective for r...
AB - 2018 Alberta TD1 and TD1 Worksheet released
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
The Canada Revenue Agency has issued the Alberta TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
AB - Changes to Carbon Levy Rates for 2018
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
The Alberta Tax and Revenue Administration (TRA) has announced the Carbon Levy Rates which will apply as of January 1, 2018. A listing of those rates can be found at www.finance.alberta.ca/publication...
AB - Updated bulletin issued on corporate income tax interest and penalties
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
Alberta corporations which fail to file corporate income tax returns by the required deadline, or which fail to remit corporate income tax amounts owed on time or in full may be subject to penalties a...
BC - Fall Fiscal Update projects increased deficit for 2024-25
The BC government recently released its 2024 Fall Economic and Fiscal Update covering the first six months (April to September) of the province’s 2024-25 fiscal year. The Update projects that the pr...
The BC government recently released its 2024 Fall Economic and Fiscal Update covering the first six months (April to September) of the province’s 2024-25 fiscal year. The Update projects that the pr...
BC - December 31 deadline for 2024 property tax deferment applications
A loans program provided by the BC government allows eligible homeowners in the province to defer payment of current year property taxes, with interest accruing on any such deferred amounts. The total...
A loans program provided by the BC government allows eligible homeowners in the province to defer payment of current year property taxes, with interest accruing on any such deferred amounts. The total...
BC - Two-month GST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
BC - Disaster Financial Assistance available to residents affected by October floods
The British Columbia government has announced that assistance under the province’s Disaster Financial Assistance (“DFA”) program is available to BC residents in designated areas who were affecte...
The British Columbia government has announced that assistance under the province’s Disaster Financial Assistance (“DFA”) program is available to BC residents in designated areas who were affecte...
BC - BC Finance issues guidance on filing of returns and making tax payments during postal disruption
The BC Ministry of Finance has issued a reminder to taxpayers in the province that all tax return filing and tax payment deadlines remain in force notwithstanding the current postal disruption. Where ...
The BC Ministry of Finance has issued a reminder to taxpayers in the province that all tax return filing and tax payment deadlines remain in force notwithstanding the current postal disruption. Where ...
BC - New property transfer tax exemption to take effect January 1, 2025
As announced in the 2024-25 provincial budget, a new temporary exemption from the general property transfer tax will be provided for qualifying property purchases that occur between January 1, 2025, a...
As announced in the 2024-25 provincial budget, a new temporary exemption from the general property transfer tax will be provided for qualifying property purchases that occur between January 1, 2025, a...
BC - Speculation and vacancy tax declaration requirement extended to additional municipalities
The province levies a speculation and vacancy tax on vacant residential properties (with some exemptions) in specified areas of the province, with the tax levied at a rate of 0.5% for Canadian citizen...
The province levies a speculation and vacancy tax on vacant residential properties (with some exemptions) in specified areas of the province, with the tax levied at a rate of 0.5% for Canadian citizen...
BC - Home-flipping tax to take effect as of January 1, 2025
In its budget for the 2024-25 fiscal year, the provincial government announced that a new “home-flipping tax” would be implemented, effective for sales of residential real estate which take place ...
In its budget for the 2024-25 fiscal year, the provincial government announced that a new “home-flipping tax” would be implemented, effective for sales of residential real estate which take place ...
BC - December 31 deadline for property tax deferment applications for 2024
The provincial government provides a property tax deferment program which allows eligible BC residents to defer all property taxes payable on their principal residence through a loan from the provinci...
The provincial government provides a property tax deferment program which allows eligible BC residents to defer all property taxes payable on their principal residence through a loan from the provinci...
BC - Training tax credit programs extended past 2024
The province provides two tax credits related to apprenticeship and training programs carried out in the province. Those tax credits were scheduled to end as of December 31, 2024 but, as announced in ...
The province provides two tax credits related to apprenticeship and training programs carried out in the province. Those tax credits were scheduled to end as of December 31, 2024 but, as announced in ...
BC - Province issues first-quarter report for 2024-25 fiscal year
The BC government has issued the financial results for the first quarter (April1 – June 30) of the province’s 2024-25 fiscal year. The updated forecast in the First Quarterly Report shows that the...
The BC government has issued the financial results for the first quarter (April1 – June 30) of the province’s 2024-25 fiscal year. The updated forecast in the First Quarterly Report shows that the...
BC - Updated Bulletin issued on sales tax exemption for machinery and equipment
British Columbia provides taxpayers carrying out eligible activities in the province with a sales tax exemption on acquisitions of production machinery and equipment. That exemption is available to el...
British Columbia provides taxpayers carrying out eligible activities in the province with a sales tax exemption on acquisitions of production machinery and equipment. That exemption is available to el...
BC - Interest Rates - 2024
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Updated information issued on application of home flipping tax
Effective as of January 1, 2025, British Columbia will levy a “home flipping tax” on individuals, partnerships, trusts, and corporations which sell residential property which they have owned for l...
Effective as of January 1, 2025, British Columbia will levy a “home flipping tax” on individuals, partnerships, trusts, and corporations which sell residential property which they have owned for l...
BC - Updates posted to Property Tax Deferment Program webpages
The province of BC provides a Property Tax Deferment Program, which allows eligible homeowners to defer payment of current year property taxes owed. The Property Tax Deferment Program has two streams ...
The province of BC provides a Property Tax Deferment Program, which allows eligible homeowners to defer payment of current year property taxes owed. The Property Tax Deferment Program has two streams ...
BC - Province announces year-end fiscal results for 2023-24
The BC government has released the final fiscal results for the province’s 2023-24 fiscal year. Those results show that the province ended the year with a deficit of $5.035 billion, which was $819 m...
The BC government has released the final fiscal results for the province’s 2023-24 fiscal year. Those results show that the province ended the year with a deficit of $5.035 billion, which was $819 m...
BC - Rent increase limit for 2025 set at 3.0%
The government of British Columbia has announced that the residential rent increase limit for 2025 has been set at 3.0%, with that change based on the year-over-year percentage change in the province...
The government of British Columbia has announced that the residential rent increase limit for 2025 has been set at 3.0%, with that change based on the year-over-year percentage change in the province...
BC - Updated bulletin issued on application of sales tax to safety equipment
BC Finance has updated and re-issued its Provincial Sales Tax Bulletin (PST 100 - Safety Equipment and Protective Clothing) on the application of PST to sales of safety and protective equipment in the...
BC Finance has updated and re-issued its Provincial Sales Tax Bulletin (PST 100 - Safety Equipment and Protective Clothing) on the application of PST to sales of safety and protective equipment in the...
BC - Updated bulletin issued on application of sales tax to legal services
The B.C. Ministry of Small Business and Revenue has updated and re-issued its Bulletin on the application of provincial sales tax (PST) to legal services rendered both inside and outside the province....
The B.C. Ministry of Small Business and Revenue has updated and re-issued its Bulletin on the application of provincial sales tax (PST) to legal services rendered both inside and outside the province....
BC - Centralized database of provincial tax credits and benefits available online
British Columbia provides a range of benefit and tax credit programs to both individuals and businesses in the province. BC residents who may be eligible for one or more of those credit and benefit pr...
British Columbia provides a range of benefit and tax credit programs to both individuals and businesses in the province. BC residents who may be eligible for one or more of those credit and benefit pr...
BC - Consultation process underway on changes to provincial tobacco tax rules
British Columbia imposes a tobacco tax on sales of each kind of tobacco product (cigarettes, cigars, loose tobacco) sold in the province, at varying rates. The provincial government recently announced...
British Columbia imposes a tobacco tax on sales of each kind of tobacco product (cigarettes, cigars, loose tobacco) sold in the province, at varying rates. The provincial government recently announced...
BC - Updated Bulletin issued on application of PST to gifts
British Columbia levies a provincial sales tax (PST) at a rate of 7% on most transfers of goods in the province. An exemption from the PST levy is provided where goods are transferred by way of gift. ...
British Columbia levies a provincial sales tax (PST) at a rate of 7% on most transfers of goods in the province. An exemption from the PST levy is provided where goods are transferred by way of gift. ...
BC - Increase in Family Benefit amounts and income thresholds beginning in July 2024
The province of British Columbia provides eligible families in the province with a tax-free monthly payment through its Family Benefit program. Such payments are provided to lower- and middle-income f...
The province of British Columbia provides eligible families in the province with a tax-free monthly payment through its Family Benefit program. Such payments are provided to lower- and middle-income f...
BC - Updated bulletins issued on sales tax exemption for resellers
The rules governing BC’s provincial sales tax (PST) provide for an exemption from that tax where goods are purchased for resale or leasing. Where a wholesaler or reseller is charged PST by a supplie...
The rules governing BC’s provincial sales tax (PST) provide for an exemption from that tax where goods are purchased for resale or leasing. Where a wholesaler or reseller is charged PST by a supplie...
BC - Interest Rates - 2024
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Updated Bulletin issued on penalty and interest charges
The B.C. Ministry of Finance has updated and re-issued its Bulletin (Penalties and Interest – CTB 005) on the application of interest and penalties under the province’s carbon tax, motor fuel tax,...
The B.C. Ministry of Finance has updated and re-issued its Bulletin (Penalties and Interest – CTB 005) on the application of interest and penalties under the province’s carbon tax, motor fuel tax,...
BC - Increase in climate action tax credit amounts effective July 1, 2024
The BC climate action tax credit is a non-taxable payment made four times a year to eligible residents of the province. As announced in the 2024-25 provincial budget, amounts payable under that credit...
The BC climate action tax credit is a non-taxable payment made four times a year to eligible residents of the province. As announced in the 2024-25 provincial budget, amounts payable under that credit...
BC - Updated Bulletins issued on sales tax and real property contractors
B.C. Finance has updated and reissued a series of Bulletins on the application of provincial sales tax (PST) to real property contractors in the province. The general rule with respect to such contrac...
B.C. Finance has updated and reissued a series of Bulletins on the application of provincial sales tax (PST) to real property contractors in the province. The general rule with respect to such contrac...
BC - New Family Benefit Bonus to begin July 1, 2024
The province provides a non-taxable BC Family Benefit to families with children who live in BC. As announced in the 2024-25 BC budget, that Family Benefit will be augmented, beginning July 1, 2024, wi...
The province provides a non-taxable BC Family Benefit to families with children who live in BC. As announced in the 2024-25 BC budget, that Family Benefit will be augmented, beginning July 1, 2024, wi...
BC - Animation productions no longer eligible for specified film and television tax credits
The province of British Columbia provides six separate tax credits under its Film and Television Tax Credit program, with credit rates ranging from 6% to 35%. All such credits are based on eligible la...
The province of British Columbia provides six separate tax credits under its Film and Television Tax Credit program, with credit rates ranging from 6% to 35%. All such credits are based on eligible la...
BC - Speculation and vacancy tax payments due July 2, 2024
Taxpayers who have amounts owing under BC’s speculation and vacancy tax program are required to pay such amounts in full on or before July 2, 2024. The speculation and vacancy tax is levied based on...
Taxpayers who have amounts owing under BC’s speculation and vacancy tax program are required to pay such amounts in full on or before July 2, 2024. The speculation and vacancy tax is levied based on...
BC - Updated Bulletin issued on definition of “small sellers” for PST purposes
British Columbia’s provincial sales tax (PST) legislation provides “small sellers” with the option to not register for PST purposes. Those small sellers who choose not to register are not requir...
British Columbia’s provincial sales tax (PST) legislation provides “small sellers” with the option to not register for PST purposes. Those small sellers who choose not to register are not requir...
BC - Increase in provincial minimum wage effective June 1
Effective as of June 1, 2024, the general minimum wage payable in British Columbia will increase by 65 cents per hour, from $16.75 to $17.40 per hour, with that 3.9% increase based on changes to the B...
Effective as of June 1, 2024, the general minimum wage payable in British Columbia will increase by 65 cents per hour, from $16.75 to $17.40 per hour, with that 3.9% increase based on changes to the B...
BC - Temporary property transfer tax exemption to be provided on purchases of qualifying rental buildings
The province will provide an exemption from the general property transfer tax for purchases of new qualifying purpose-built rental buildings, where such purchases take place between January 1, 2025 an...
The province will provide an exemption from the general property transfer tax for purchases of new qualifying purpose-built rental buildings, where such purchases take place between January 1, 2025 an...
BC - Annual remuneration threshold for employer health tax doubled
British Columbia imposes an employer health tax (payroll tax) on payrolls over a specified annual remuneration threshold. In the province’s 2024-25 budget, it was announced that the annual remunerat...
British Columbia imposes an employer health tax (payroll tax) on payrolls over a specified annual remuneration threshold. In the province’s 2024-25 budget, it was announced that the annual remunerat...
BC - Upcoming increase to provincial minimum wage rates
Effective as of June 1, 2024, the BC general minimum wage will increase by 3.9%, from $16.75 to $17.40 per hour, with the change based on increases to the province’s Consumer Price Index. Different ...
Effective as of June 1, 2024, the BC general minimum wage will increase by 3.9%, from $16.75 to $17.40 per hour, with the change based on increases to the province’s Consumer Price Index. Different ...
BC - Temporary Family Benefit Bonus to be introduced
In this year’s budget, the BC government announced that, effective as of July 1, 2024, it will implement the Family Benefit Bonus program, which will provide recipients with a 25% increase to the ex...
In this year’s budget, the BC government announced that, effective as of July 1, 2024, it will implement the Family Benefit Bonus program, which will provide recipients with a 25% increase to the ex...
BC - Budget extends training tax credit programs past 2024
BC provides training tax credits to qualifying employers and to apprentices who are registered in both Red Seal and non-Red Seal training programs. Both the employer and the apprentice programs were s...
BC provides training tax credits to qualifying employers and to apprentices who are registered in both Red Seal and non-Red Seal training programs. Both the employer and the apprentice programs were s...
BC - Interest Rates - 2024
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Threshold for property transfer tax exemption for newly built homes increased
In its budget for the 2024-25 fiscal year, the province announced that the property fair market value threshold which determines eligibility for a property transfer tax exemption on newly built homes ...
In its budget for the 2024-25 fiscal year, the province announced that the property fair market value threshold which determines eligibility for a property transfer tax exemption on newly built homes ...
BC - Province to increase climate action tax credit amounts
In the province’s 2024-25 budget, it was announced that benefits paid to residents of the province under the climate action tax credit program would be increased, effective as of July 1, 2024. As of...
In the province’s 2024-25 budget, it was announced that benefits paid to residents of the province under the climate action tax credit program would be increased, effective as of July 1, 2024. As of...
BC - First time home buyers transfer tax exemption limit increased
The province provides eligible first-time home buyers with a full or partial exemption from the property transfer tax which normally applies to property purchases. That exemption is available on purch...
The province provides eligible first-time home buyers with a full or partial exemption from the property transfer tax which normally applies to property purchases. That exemption is available on purch...
BC - Province to introduce tax on property flipping
The 2024-25 provincial budget released on February 22 included the announcement of a new “property flipping” tax to be imposed beginning in 2025. The tax will apply to income from the sale of resi...
The 2024-25 provincial budget released on February 22 included the announcement of a new “property flipping” tax to be imposed beginning in 2025. The tax will apply to income from the sale of resi...
BC - Updated guide issued on application of PST to telecommunications services
British Columbia imposes provincial sales tax (PST) on sales of telecommunications services in the province. B.C. Small Business and Revenue recently updated and re-issued its Bulletin (PST 107, Telec...
British Columbia imposes provincial sales tax (PST) on sales of telecommunications services in the province. B.C. Small Business and Revenue recently updated and re-issued its Bulletin (PST 107, Telec...
BC - Individual income tax rates and brackets for 2024
During the 2024 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.06% ...
During the 2024 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.06% ...
BC - 2024-25 provincial budget to be released on February 22
The budget for British Columbia’s upcoming 2024-25 fiscal year will be brought down on Thursday, February 22, 2024. The announcement of the budget date can be found on the provincial government webs...
The budget for British Columbia’s upcoming 2024-25 fiscal year will be brought down on Thursday, February 22, 2024. The announcement of the budget date can be found on the provincial government webs...
BC - Renter’s tax credit available for 2023 tax year
The provincial government has issued a reminder to BC residents that they can claim the new refundable renter’s tax credit when filing their tax return for the 2023 tax year. No separate application...
The provincial government has issued a reminder to BC residents that they can claim the new refundable renter’s tax credit when filing their tax return for the 2023 tax year. No separate application...
BC - Speculation and vacancy tax declaration period for 2024 now open
The BC government imposes a speculation and vacancy tax which requires residential property owners who live in designated taxable areas of the province to file a declaration once each year attesting t...
The BC government imposes a speculation and vacancy tax which requires residential property owners who live in designated taxable areas of the province to file a declaration once each year attesting t...
BC - Personal tax credit amounts for 2024
The province of British Columbia will provide the following personal tax credit amounts for 2024: Basic personal amount ………………………………… $12,580 Spouse or equivalent-to-spouse...
The province of British Columbia will provide the following personal tax credit amounts for 2024: Basic personal amount ………………………………… $12,580 Spouse or equivalent-to-spouse...
BC - Home owner grant threshold increased for 2024
The provincial government provides a home owner grant program intended to mitigate the impact of property tax increases on homeowners whose principal residence is valued at or below a specified thresh...
The provincial government provides a home owner grant program intended to mitigate the impact of property tax increases on homeowners whose principal residence is valued at or below a specified thresh...
BC - Interest Rates - 2024
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - December 31 deadline for property tax deferral applications
The province provides eligible BC homeowners with the option to defer payment of current year property taxes owed. The property tax deferral program has two streams – the Regular Program and the Fam...
The province provides eligible BC homeowners with the option to defer payment of current year property taxes owed. The property tax deferral program has two streams – the Regular Program and the Fam...
BC - Updated listing issued of property transfer tax exemptions
British Columbia levies a property transfer tax at varying rates on most transfers of property located in the province. The tax is based on the fair market value of property transferred, with rates ra...
British Columbia levies a property transfer tax at varying rates on most transfers of property located in the province. The tax is based on the fair market value of property transferred, with rates ra...
BC - Province expands list of municipalities subject to speculation and vacancy tax
British Columbia imposes an annual speculation and vacancy tax, based on how owners use residential properties in areas in the province affected most by the current housing shortage crisis. The prov...
British Columbia imposes an annual speculation and vacancy tax, based on how owners use residential properties in areas in the province affected most by the current housing shortage crisis. The prov...
BC - 2023-24 second quarter fiscal update shows reduced deficit
British Columbia’s Second Quarterly Report for the province’s 2023-24 fiscal year indicates that the full year deficit will be less than previously projected. The Second Quarterly Report shows tha...
British Columbia’s Second Quarterly Report for the province’s 2023-24 fiscal year indicates that the full year deficit will be less than previously projected. The Second Quarterly Report shows tha...
BC - Updated information issued on taxation of short-term accommodation in B.C.
British Columbia levies a number of taxes on sales of short-term accommodation in the province. Provincial sales tax (“PST”) of 8% applies to sales of short-term accommodation provided in B.C. (un...
British Columbia levies a number of taxes on sales of short-term accommodation in the province. Provincial sales tax (“PST”) of 8% applies to sales of short-term accommodation provided in B.C. (un...
BC - December 31 deadline for 2023 property tax deferral program applications
British Columbia provides a property tax deferral program which allows qualifying homeowners in the province (generally, individuals over age 55 or families with children) to defer property tax amount...
British Columbia provides a property tax deferral program which allows qualifying homeowners in the province (generally, individuals over age 55 or families with children) to defer property tax amount...
BC - Updated Bulletin issued on application of provincial sales tax to vehicle sales and leasing
The province levies provincial sales tax (PST) at varying rates on transfers of new and used motor vehicles. Unless a specific exemption applies, PST applies to sales of new and used vehicles by motor...
The province levies provincial sales tax (PST) at varying rates on transfers of new and used motor vehicles. Unless a specific exemption applies, PST applies to sales of new and used vehicles by motor...
BC - Updated guides issued for completion of PST and MRDT returns
In the 2023-24 provincial budget, changes were made to the rules respecting the application of Provincial Sales Tax (PST) and Municipal and Regional District Tax (MRDT) to include sales of goods and s...
In the 2023-24 provincial budget, changes were made to the rules respecting the application of Provincial Sales Tax (PST) and Municipal and Regional District Tax (MRDT) to include sales of goods and s...
BC - Additional relief measures announced for wildfire and drought recovery
The provincial government has announced that funding under a new program will be made available to assist BC residents with extraordinary expenses incurred as the result of drought and wildfire events...
The provincial government has announced that funding under a new program will be made available to assist BC residents with extraordinary expenses incurred as the result of drought and wildfire events...
BC - Updated publications issued on provincial sales tax collection and administration
British Columbia levies provincial sales tax (PST) at a rate of 7% on the sale or lease of most goods and services in the province. There are, however, a large number of exemptions from the applicatio...
British Columbia levies provincial sales tax (PST) at a rate of 7% on the sale or lease of most goods and services in the province. There are, however, a large number of exemptions from the applicatio...
BC - Province announces new interest rate payable on deferred property taxes
British Columbia provides qualifying homeowners with an option to defer payment of property taxes owed. The property tax deferral program has two categories – the Regular program and the Families wi...
British Columbia provides qualifying homeowners with an option to defer payment of property taxes owed. The property tax deferral program has two categories – the Regular program and the Families wi...
BC - Interest Rates - 2023
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Updated bulletin issued on provincial sales tax and charitable organizations
The B.C. Ministry of Small Business and Revenue has updated and re-issued its Provincial Sales Tax Bulletin PST 304, on the application of provincial sales tax to thrift stores, service clubs, and cha...
The B.C. Ministry of Small Business and Revenue has updated and re-issued its Provincial Sales Tax Bulletin PST 304, on the application of provincial sales tax to thrift stores, service clubs, and cha...
BC - Updated Bulletin issued on provincial tax audit process
B.C. Finance has updated and re-issued its Tax Bulletin CTB 003 – Audits, which summarizes the audit process with respect to provincial sales tax, carbon tax, motor fuel tax, and tobacco tax program...
B.C. Finance has updated and re-issued its Tax Bulletin CTB 003 – Audits, which summarizes the audit process with respect to provincial sales tax, carbon tax, motor fuel tax, and tobacco tax program...
BC - Province announces rent increase guideline for 2024
The provincial government has announced that the allowable percentage rent increase which will apply to most rental accommodation in British Columbia during 2024 has been set at 3.5%. Under the provin...
The provincial government has announced that the allowable percentage rent increase which will apply to most rental accommodation in British Columbia during 2024 has been set at 3.5%. Under the provin...
BC - Federal government announces livestock tax deferral areas for 2023
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
BC - Updated bulletin issued on application of PST to grocery and drug store products
British Columbia Small Business and Revenue has updated and re-issued its Information Bulletin PST 206, on the application of provincial sales tax to goods sold in grocery and drug stores in the provi...
British Columbia Small Business and Revenue has updated and re-issued its Information Bulletin PST 206, on the application of provincial sales tax to goods sold in grocery and drug stores in the provi...
BC - Updated list issued of zero-emission vehicles eligible for PST exemption
For a five-year period beginning February 23, 2022 and ending February 22, 2027, an exemption from provincial sales tax is provided for purchases and leases of qualifying used zero-emission vehicles. ...
For a five-year period beginning February 23, 2022 and ending February 22, 2027, an exemption from provincial sales tax is provided for purchases and leases of qualifying used zero-emission vehicles. ...
BC - Updated bulletin issued on application of PST to online marketplace sellers
Effective as of July 1, 2023, changes were made to the province’s sales tax rules with respect to online marketplace sellers. Those changes amended the collection obligations of online marketplace f...
Effective as of July 1, 2023, changes were made to the province’s sales tax rules with respect to online marketplace sellers. Those changes amended the collection obligations of online marketplace f...
BC - Interactive digital media tax credit extended to 2028
British Columbia provides corporations in the province with a refundable tax credit – the Interactive Digital Media Tax Credit (IDMTC) – equal to 17.5% of eligible salaries and wages paid in relat...
British Columbia provides corporations in the province with a refundable tax credit – the Interactive Digital Media Tax Credit (IDMTC) – equal to 17.5% of eligible salaries and wages paid in relat...
BC - Province launches program to assist small business with property damage costs
The provincial government has announced that a new Securing Small Business rebate program will support small businesses in recovering expenses incurred after experiencing property damage due to crime ...
The provincial government has announced that a new Securing Small Business rebate program will support small businesses in recovering expenses incurred after experiencing property damage due to crime ...
BC - New information issued on refunds of provincial sales tax
In some circumstances, refunds of provincial sales tax paid may be obtained by taxpayers. B.C. Small Business and Revenue recently updated and re-issued its Bulletin (PST 400) outlining the circumstan...
In some circumstances, refunds of provincial sales tax paid may be obtained by taxpayers. B.C. Small Business and Revenue recently updated and re-issued its Bulletin (PST 400) outlining the circumstan...
BC - Applying for Speculation and Vacancy Tax waiver of interest and penalties
Payments under the British Columbia Speculation and Vacancy Tax program were due on or before July 4, 2023. Where such payments were not made in full by that deadline, a 10% penalty, as well as intere...
Payments under the British Columbia Speculation and Vacancy Tax program were due on or before July 4, 2023. Where such payments were not made in full by that deadline, a 10% penalty, as well as intere...
BC - Increase to family benefit payment amounts effective July 1, 2023
British Columbia provides families in the province with a non-taxable family benefit, which is paid monthly. As announced in the 2023-24 provincial budget, amounts payable under that program have been...
British Columbia provides families in the province with a non-taxable family benefit, which is paid monthly. As announced in the 2023-24 provincial budget, amounts payable under that program have been...
BC - Climate action tax credit amounts increase effective July 1, 2023
The province of British Columbia provides eligible residents with a climate action tax credit, which is paid quarterly, in July, October, January, and April. The maximum amount payable under the clima...
The province of British Columbia provides eligible residents with a climate action tax credit, which is paid quarterly, in July, October, January, and April. The maximum amount payable under the clima...
BC - Interest Rates - 2023
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Upcoming deadline for property tax deferral program
British Columbia provides a property tax deferral program for eligible homeowners in the province. The program has two components – the Regular program and the Families with Children program, with e...
British Columbia provides a property tax deferral program for eligible homeowners in the province. The program has two components – the Regular program and the Families with Children program, with e...
BC - Province posts information on 2023 instalment and filing due dates for employer health tax
British Columbia levies an employer health tax on employers in the province which have annual payrolls in excess of $500,000. Employers who are subject to the tax must make three instalment payments o...
British Columbia levies an employer health tax on employers in the province which have annual payrolls in excess of $500,000. Employers who are subject to the tax must make three instalment payments o...
BC - Sales tax rules for online sellers to change effective July 1, 2023
As announced in this year’s provincial budget, changes will be made effective July 1, 2023 to the provincial sales tax (PST) rules which apply to online marketplace facilitators. As of that date, su...
As announced in this year’s provincial budget, changes will be made effective July 1, 2023 to the provincial sales tax (PST) rules which apply to online marketplace facilitators. As of that date, su...
BC - Speculation and vacancy tax to apply in additional areas of the province
Under British Columbia’s speculation and vacancy tax program, owners of residential properties in designated areas of the province must file a declaration disclosing their residency status and how t...
Under British Columbia’s speculation and vacancy tax program, owners of residential properties in designated areas of the province must file a declaration disclosing their residency status and how t...
BC - Updated Bulletin issued on provincial sales tax small seller exemption
Most vendors of goods in the province are required to register for purposes of provincial sales tax (PST) and to charge and collect such PST and remit it to the provincial government. However, an (opt...
Most vendors of goods in the province are required to register for purposes of provincial sales tax (PST) and to charge and collect such PST and remit it to the provincial government. However, an (opt...
BC - Farmers’ food donation tax credit program extended for additional three years
Since 2016, the province has provided individual farmers and farming corporations with a non-refundable 25% income tax credit where certain agricultural products produced by them in British Columbia a...
Since 2016, the province has provided individual farmers and farming corporations with a non-refundable 25% income tax credit where certain agricultural products produced by them in British Columbia a...
BC - Property tax deferral application process for 2023 now open
British Columbia provides eligible residents of the province with the option of deferring payment of their property taxes. There are two streams to the property tax deferral program – the Regular pr...
British Columbia provides eligible residents of the province with the option of deferring payment of their property taxes. There are two streams to the property tax deferral program – the Regular pr...
BC - Updated Bulletin and forms issued for April 1, 2023 changes to carbon tax rates
Effective as of April 1, 2023, the carbon tax rates payable on various types of fuel were increased, and BC Finance has issued an updated Bulletin outlining those changes. That publication (Bulletin M...
Effective as of April 1, 2023, the carbon tax rates payable on various types of fuel were increased, and BC Finance has issued an updated Bulletin outlining those changes. That publication (Bulletin M...
BC - Minimum wage to increase effective June 1, 2023
The provincial government has announced that, effective as of June 1, 2023, the general provincial minimum wage will increase by $1.10 per hour, from $15.65 to $16.75 per hour. Minimum wage applies re...
The provincial government has announced that, effective as of June 1, 2023, the general provincial minimum wage will increase by $1.10 per hour, from $15.65 to $16.75 per hour. Minimum wage applies re...
BC - Climate action tax credit amounts to increase effective July 1, 2023
In its budget for the 2023-24 fiscal year, the provincial government announced that payments made under the British Columbia climate action tax credit program will increase, effective as of July 1, 20...
In its budget for the 2023-24 fiscal year, the provincial government announced that payments made under the British Columbia climate action tax credit program will increase, effective as of July 1, 20...
BC - Interest Rates - 2023
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Province announces increase to B.C. Family Benefit
The recent 2023-24 provincial budget included the announcement of an increase in amounts payable under the B.C. Family Benefit program, as well as a new supplement for single parent families. The incr...
The recent 2023-24 provincial budget included the announcement of an increase in amounts payable under the B.C. Family Benefit program, as well as a new supplement for single parent families. The incr...
BC - Interactive digital media tax credit extended until 2028
The province of British Columbia provides an interactive digital media tax credit (IDMTC), which may be claimed by eligible registered corporations that develop interactive digital media products (suc...
The province of British Columbia provides an interactive digital media tax credit (IDMTC), which may be claimed by eligible registered corporations that develop interactive digital media products (suc...
BC - Province announces increase in Climate Action Tax Credit amounts
In its recent 2023-24 budget, the provincial government announced that amounts paid through the Climate Action Tax Credit program would increase, effective as of July 1, 2023. As of that date, the max...
In its recent 2023-24 budget, the provincial government announced that amounts paid through the Climate Action Tax Credit program would increase, effective as of July 1, 2023. As of that date, the max...
BC - Province introduces renter’s tax credit in 2023
In its budget for the upcoming (2023-24) fiscal year, the province announced that it would be introducing an income-tested renter’s tax credit, which is available as of January 1, 2023. The full cre...
In its budget for the upcoming (2023-24) fiscal year, the province announced that it would be introducing an income-tested renter’s tax credit, which is available as of January 1, 2023. The full cre...
BC - Additional tax to apply to short-term accommodation rentals in Vancouver
Sales of short-term accommodation in British Columbia are subject to 8% provincial sales tax and, in some locations, an additional Municipal and Regional District Tax (MRDT) at varying rates. Such sho...
Sales of short-term accommodation in British Columbia are subject to 8% provincial sales tax and, in some locations, an additional Municipal and Regional District Tax (MRDT) at varying rates. Such sho...
BC - Provincial budget to be brought down on February 21
Provincial legislation requires that the annual British Columbia budget be brought down on the third Tuesday of February each year. That requirement means that this year the 2023-24 provincial budget ...
Provincial legislation requires that the annual British Columbia budget be brought down on the third Tuesday of February each year. That requirement means that this year the 2023-24 provincial budget ...
BC - Interest Rates - 2023
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Province now issuing speculation and vacancy tax letters for 2023
The province levies an annual speculation and vacancy tax (SVT), which is based on how homeowners use residential properties in specified areas in British Columbia. Homeowners in affected areas receiv...
The province levies an annual speculation and vacancy tax (SVT), which is based on how homeowners use residential properties in specified areas in British Columbia. Homeowners in affected areas receiv...
BC - Individual income tax rates and brackets for 2023
During the 2023 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brac...
During the 2023 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brac...
BC - Home Owner Grant Program threshold increased for 2023
The provincial government has announced that the Home Owner Grant Program threshold for 2023 has been increased to $2.125 million. Under the Home Owner Grant Program, eligible residents of the provinc...
The provincial government has announced that the Home Owner Grant Program threshold for 2023 has been increased to $2.125 million. Under the Home Owner Grant Program, eligible residents of the provinc...
BC - Personal tax credit amounts for 2023
The province of British Columbia will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $11,981 Spouse or equivalent to spouse...
The province of British Columbia will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $11,981 Spouse or equivalent to spouse...
BC - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by British Columbia employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Brit...
The Canada Revenue Agency has released the payroll deduction formulas to be used by British Columbia employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Brit...
BC - BC Finance issues updated information on provincial accommodation taxes
Sales of short-term accommodation in British Columbia are subject to provincial sales tax (PST) at a rate of 8% and may also be subject to Municipal and Regional District Tax (MRDT) at a rate of up to...
Sales of short-term accommodation in British Columbia are subject to provincial sales tax (PST) at a rate of 8% and may also be subject to Municipal and Regional District Tax (MRDT) at a rate of up to...
BC - Training tax credit program extended until end of 2024
The province provides training tax credits for both employers and apprentices in British Columbia through the Training Tax Credit Program. That Program was scheduled to end on December 31, 2022 but, a...
The province provides training tax credits for both employers and apprentices in British Columbia through the Training Tax Credit Program. That Program was scheduled to end on December 31, 2022 but, a...
BC - Province releases Second Quarterly Report for 2022-23 fiscal year
On November 25, the BC Minister of Finance released the province’s Second Quarterly Report for the current (2022-23) fiscal year. That report indicates that the province is in a much stronger fiscal...
On November 25, the BC Minister of Finance released the province’s Second Quarterly Report for the current (2022-23) fiscal year. That report indicates that the province is in a much stronger fiscal...
BC - Province announces new B.C. Affordability Tax Credit
The provincial government has announced the creation of a new tax credit – the B.C. Affordability Tax Credit, which will be paid in January 2023 with the B.C. Climate Action Tax Credit. Eligible res...
The provincial government has announced the creation of a new tax credit – the B.C. Affordability Tax Credit, which will be paid in January 2023 with the B.C. Climate Action Tax Credit. Eligible res...
BC - December 31st deadline for 2022 property tax deferment applications
British Columbia provides eligible residents of the province with the option of deferring payment of property taxes on their principal residence. The amount deferred can accrue from year to year, and ...
British Columbia provides eligible residents of the province with the option of deferring payment of property taxes on their principal residence. The amount deferred can accrue from year to year, and ...
BC - Changes made to property transfer tax return and forms
When an interest in a property is registered with the province, the purchaser must file a property transfer tax return and pay property transfer tax based on the fair market value (FMV) of the transfe...
When an interest in a property is registered with the province, the purchaser must file a property transfer tax return and pay property transfer tax based on the fair market value (FMV) of the transfe...
BC - Private vehicle sales subject to new rules on determination of value for sales tax purposes
As announced in this year’s budget, the province has implemented new rules which govern the computation of value for sales tax purposes where a vehicle is sold privately or is imported into British ...
As announced in this year’s budget, the province has implemented new rules which govern the computation of value for sales tax purposes where a vehicle is sold privately or is imported into British ...
BC - PST bulletins updated to reflect PST exemption on sales of electricity
British Columbia Small Business and Revenue has updated and re-issued a number of provincial sales tax (PST) bulletins to take account of the PST exemption provided on sales of electricity in the prov...
British Columbia Small Business and Revenue has updated and re-issued a number of provincial sales tax (PST) bulletins to take account of the PST exemption provided on sales of electricity in the prov...
BC - Province expands availability of small business tax rate
Small and medium-sized businesses in British Columbia benefit from a preferential corporate income tax rate on their active small business income. For 2022, that small business tax rate is set at 2.0%...
Small and medium-sized businesses in British Columbia benefit from a preferential corporate income tax rate on their active small business income. For 2022, that small business tax rate is set at 2.0%...
BC - Updated Bulletin issued on tax appeal process and deadlines
British Columbia taxpayers are entitled to appeal to the Ministry of Finance from most decisions made under provincial tax programs. However, both the criteria for bringing an appeal and the applicabl...
British Columbia taxpayers are entitled to appeal to the Ministry of Finance from most decisions made under provincial tax programs. However, both the criteria for bringing an appeal and the applicabl...
BC - Province posts updated information on employer health tax
British Columbia levies an employer health tax (EHT) on BC payrolls which are over $500,000 in a calendar year. The BC Ministry of Small Business and Revenue recently updated its webpage on the EHT, t...
British Columbia levies an employer health tax (EHT) on BC payrolls which are over $500,000 in a calendar year. The BC Ministry of Small Business and Revenue recently updated its webpage on the EHT, t...
BC - Province to provide temporary enhancement of BC Family Benefit payments
The British Columbia government provides eligible families who live in the province and who have children under the age of 18 with a tax-free monthly payment under the British Columbia Family Benefit ...
The British Columbia government provides eligible families who live in the province and who have children under the age of 18 with a tax-free monthly payment under the British Columbia Family Benefit ...
BC - Updated guide issued for property transfer tax return
The province of British Columbia imposes a property transfer tax when there is a change of ownership of property located in the province. The British Columbia Ministry of Small Business and Revenue re...
The province of British Columbia imposes a property transfer tax when there is a change of ownership of property located in the province. The British Columbia Ministry of Small Business and Revenue re...
BC - One-time increase in Climate Action Tax Credit for October 2022
Lower and middle-income residents of British Columbia who are over the age of 19 are eligible to receive the BC Climate Action Tax Credit (BCCATC), a non-taxable payment issued four times a year. The ...
Lower and middle-income residents of British Columbia who are over the age of 19 are eligible to receive the BC Climate Action Tax Credit (BCCATC), a non-taxable payment issued four times a year. The ...
BC - Province releases year-end financial results for 2021-22
The province has released the year-end financial figures for the 2021-22 fiscal year which ended on March 31, 2022. Those figures show that the province posted a surplus for that year of $1.3 billion,...
The province has released the year-end financial figures for the 2021-22 fiscal year which ended on March 31, 2022. Those figures show that the province posted a surplus for that year of $1.3 billion,...
BC - Province updates PST guide to incorporate budget changes
The 2022-23 British Columbia budget included a number of changes to the rules governing provincial sales tax, with those changes taking effect on February 23, April 1, and July 1, 2022. BC Small Busin...
The 2022-23 British Columbia budget included a number of changes to the rules governing provincial sales tax, with those changes taking effect on February 23, April 1, and July 1, 2022. BC Small Busin...
BC - Province announces details of new consumer protections for homebuyers
Earlier this year, the provincial government announced that new consumer protection measures would be implemented for homebuyers. Those measures are intended to ensure that homebuyers have sufficient ...
Earlier this year, the provincial government announced that new consumer protection measures would be implemented for homebuyers. Those measures are intended to ensure that homebuyers have sufficient ...
BC - Changes made to simplify application process for home owner grant supplement
British Columbia provides a home owner grant program and a supplement, both intended to help offset the cost of property taxes for British Columbia homeowners. The home owner grant and supplement prog...
British Columbia provides a home owner grant program and a supplement, both intended to help offset the cost of property taxes for British Columbia homeowners. The home owner grant and supplement prog...
BC - IFTA applications and renewals move online effective September 1, 2022
Effective September 1, 2022, licence applications, renewals, and decal requests under the International Fuel Tax Agreement (IFTA) will have to be filed online, using the eTaxBC service. Consequently, ...
Effective September 1, 2022, licence applications, renewals, and decal requests under the International Fuel Tax Agreement (IFTA) will have to be filed online, using the eTaxBC service. Consequently, ...
BC - Upcoming change to application of sales tax to private sales of motor vehicles
In this year’s budget, the province announced a change to the sales tax rules which apply to private sales of motor vehicles, and that change will take effect as of October 1, 2022. Provincial sales...
In this year’s budget, the province announced a change to the sales tax rules which apply to private sales of motor vehicles, and that change will take effect as of October 1, 2022. Provincial sales...
BC - Updated information issued on changes to production services tax credit
British Columbia offers a refundable corporate income tax credit to eligible production companies which produce accredited film or video productions in the province. There are four separate credits av...
British Columbia offers a refundable corporate income tax credit to eligible production companies which produce accredited film or video productions in the province. There are four separate credits av...
BC - Province issues details of new Clean Buildings Tax Credit
This year’s provincial budget included the announcement of a new tax credit, the Clean Buildings Tax Credit. The new program provides a 5% refundable tax credit to help offset the cost of expenditur...
This year’s provincial budget included the announcement of a new tax credit, the Clean Buildings Tax Credit. The new program provides a 5% refundable tax credit to help offset the cost of expenditur...
BC - Province issues details of provincial sales tax refund for heat pumps
As announced in this year’s budget, and effective as of April 1, 2022, the province is providing a sales tax exemption on sales of heat pumps. The B.C. Ministry of Small Business and Revenue recentl...
As announced in this year’s budget, and effective as of April 1, 2022, the province is providing a sales tax exemption on sales of heat pumps. The B.C. Ministry of Small Business and Revenue recentl...
BC - Tobacco sales now subject to provincial sales tax
As announced in this year’s provincial budget, and effective as of July 1, 2022, provincial sales tax (PST) applies at a rate of 7% on tobacco sold in British Columbia. Such provincial sales tax is ...
As announced in this year’s provincial budget, and effective as of July 1, 2022, provincial sales tax (PST) applies at a rate of 7% on tobacco sold in British Columbia. Such provincial sales tax is ...
BC - Interest Rates - 2022
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Provincial sales tax changes for online marketplace sellers as of July 1, 2022
As announced in this year’s provincial budget, significant changes to the rules governing the application of provincial sales tax (PST) to online marketplace sellers and facilitators will take effec...
As announced in this year’s provincial budget, significant changes to the rules governing the application of provincial sales tax (PST) to online marketplace sellers and facilitators will take effec...
BC - Climate action tax credit amounts increase July 1, 2022
Qualifying residents of British Columbia can receive a climate action tax credit, intended to help offset the financial impact of carbon taxes for lower- and middle-income individuals and families. Th...
Qualifying residents of British Columbia can receive a climate action tax credit, intended to help offset the financial impact of carbon taxes for lower- and middle-income individuals and families. Th...
BC - Province launches consultation process for 2023-24 budget
Under provincial law, the annual BC budget is brought down on the third Tuesday in February each year. The 2023 budget will therefore be released on Tuesday February 21, 2023, and the province recentl...
Under provincial law, the annual BC budget is brought down on the third Tuesday in February each year. The 2023 budget will therefore be released on Tuesday February 21, 2023, and the province recentl...
BC - Temporary increase in rebate for cost of EV charging stations
The province currently provides purchasers of electric vehicle (EV) charging stations with rebates which cover up to 50% of the cost of such purchases. Recently, the provincial government announcement...
The province currently provides purchasers of electric vehicle (EV) charging stations with rebates which cover up to 50% of the cost of such purchases. Recently, the provincial government announcement...
BC - Province to enact homebuyer protection measures
The British Columbia government has announced that it will be putting in place measures to provide consumers with a “right of recission” on real estate purchases. The new measures are intended to ...
The British Columbia government has announced that it will be putting in place measures to provide consumers with a “right of recission” on real estate purchases. The new measures are intended to ...
BC - Online application process for Home Owner Grant for 2022 now open
The province provides qualifying homeowners in the province with a Home Owner Grant to help offset the cost of property taxes. An additional Grant amount is also provided to qualifying homeowners who ...
The province provides qualifying homeowners in the province with a Home Owner Grant to help offset the cost of property taxes. An additional Grant amount is also provided to qualifying homeowners who ...
BC - Updated bulletin issued on taxation of accommodation sales
The province imposes sales tax at a rate of 8% on sales of short-term accommodation (including such accommodation listed on online accommodation platforms) in the province. In addition, a Municipal an...
The province imposes sales tax at a rate of 8% on sales of short-term accommodation (including such accommodation listed on online accommodation platforms) in the province. In addition, a Municipal an...
BC - Shipbuilding and ship repair tax credit extended for two years
The province provides a refundable tax credit to employers whose principal business is constructing, repairing, or converting ships and who employ apprentices in that business. The credit is generall...
The province provides a refundable tax credit to employers whose principal business is constructing, repairing, or converting ships and who employ apprentices in that business. The credit is generall...
BC - Climate Action Tax Credit amounts to increase in July
A scheduled increase in the BC carbon tax rate was implemented on April 1, 2022. As the result of that change, amounts payable under the province’s Climate Action Tax Credit will also increase. Effe...
A scheduled increase in the BC carbon tax rate was implemented on April 1, 2022. As the result of that change, amounts payable under the province’s Climate Action Tax Credit will also increase. Effe...
BC - Interest Rates - 2022
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax under a number of provincial tax programs, including employer health tax, logging...
BC - Sales tax exemption provided on sales of zero emission vehicles
In this year’s budget, the province announced that, effective as of February 23, 2022, sales of zero-emission vehicles would be exempt from provincial sales tax. That exemption applies to both sales...
In this year’s budget, the province announced that, effective as of February 23, 2022, sales of zero-emission vehicles would be exempt from provincial sales tax. That exemption applies to both sales...
BC - Provincial minimum wage to increase effective June 1, 2022
Effective as of June 1, 2022, the provincial general minimum wage will increase from $15.20 to $15.65 per hour. The upcoming change reflects the first indexation of the BC minimum wage, with the rate ...
Effective as of June 1, 2022, the provincial general minimum wage will increase from $15.20 to $15.65 per hour. The upcoming change reflects the first indexation of the BC minimum wage, with the rate ...
BC - Training tax credit programs extended for a further two years
The province provides a training tax credit for both employers and employees who take part in eligible apprenticeship programs. There are three main elements to the training tax credit, as follows: b...
The province provides a training tax credit for both employers and employees who take part in eligible apprenticeship programs. There are three main elements to the training tax credit, as follows: b...
BC - Provincial sales tax to be applied to tobacco sales
Under current rules, the sale of tobacco in BC is exempt from provincial sales tax, but that will change following an announcement made in the recent 2022–23 provincial budget. Effective as of Frida...
Under current rules, the sale of tobacco in BC is exempt from provincial sales tax, but that will change following an announcement made in the recent 2022–23 provincial budget. Effective as of Frida...
BC - SR&ED tax credit program extended until 2027
The provincial scientific and research and experimental development (SR&ED) tax credit, which had been scheduled to expire on August 31, 2022, has instead been extended to be available for a furth...
The provincial scientific and research and experimental development (SR&ED) tax credit, which had been scheduled to expire on August 31, 2022, has instead been extended to be available for a furth...
BC - Province introduces Clean Buildings Tax Credit
In the recent 2022–23 budget, the province announced that it would, effective as of February 23, 2022, be providing a new temporary tax credit for retrofits that improve the energy efficiency of mul...
In the recent 2022–23 budget, the province announced that it would, effective as of February 23, 2022, be providing a new temporary tax credit for retrofits that improve the energy efficiency of mul...
BC - 2022-23 provincial Budget released February 22
The 2022-23 British Columbia Budget contained no changes to personal or corporate tax rates and no new taxes. The fiscal plan included with the Budget projects total revenue of $68.6 billion for the u...
The 2022-23 British Columbia Budget contained no changes to personal or corporate tax rates and no new taxes. The fiscal plan included with the Budget projects total revenue of $68.6 billion for the u...
BC - Personal tax credit amounts for 2022
The province of British Columbia will provide the following personal tax credit amounts for 2022: Basic personal amount ………………………………… $11,302 Spouse or equivalent to spouse a...
The province of British Columbia will provide the following personal tax credit amounts for 2022: Basic personal amount ………………………………… $11,302 Spouse or equivalent to spouse a...
BC - Interest Rates - 2022
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - 2022-23 provincial Budget to be brought down on February 22
The province of British Columbia has fixed budget date legislation, which calls for the province’s annual Budget to be brought down on the third Tuesday in February. Consequently, the B.C. Budget fo...
The province of British Columbia has fixed budget date legislation, which calls for the province’s annual Budget to be brought down on the third Tuesday in February. Consequently, the B.C. Budget fo...
BC - Speculation and vacancy tax declaration period now open
The speculation and vacancy tax imposed by the province requires affected property owners to make a declaration with respect to their residency status and where their income is earned and reported, as...
The speculation and vacancy tax imposed by the province requires affected property owners to make a declaration with respect to their residency status and where their income is earned and reported, as...
BC - Updated bulletins issued for film and television and production tax credits
The province of British Columbia provides the film and television industry with a number of corporate tax credits, including the film and television tax credit (which includes six separate credits) an...
The province of British Columbia provides the film and television industry with a number of corporate tax credits, including the film and television tax credit (which includes six separate credits) an...
BC - Updated bulletins issued on application of sales tax to restaurants and liquor producers and sellers
B.C. Small Business and Revenue has updated and re-issued two tax bulletins dealing with the application of provincial sales tax to restaurants, liquor sellers, and liquor producers. The first such Bu...
B.C. Small Business and Revenue has updated and re-issued two tax bulletins dealing with the application of provincial sales tax to restaurants, liquor sellers, and liquor producers. The first such Bu...
BC - Home Owner Grant threshold for 2022 set at $1.975 million
The province provides eligible B.C. homeowners with a Home Owner Grant which reduces property taxes otherwise payable. The amount of available grant depends on the location of the applicant’s home a...
The province provides eligible B.C. homeowners with a Home Owner Grant which reduces property taxes otherwise payable. The amount of available grant depends on the location of the applicant’s home a...
BC - Province to provide additional relief for businesses affected by lockdown
In December 2021, a public health order was issued requiring some types of B.C. businesses, including gyms, fitness and adult dance centres, bars, lounges and nightclubs, and event venues to temporari...
In December 2021, a public health order was issued requiring some types of B.C. businesses, including gyms, fitness and adult dance centres, bars, lounges and nightclubs, and event venues to temporari...
BC - CRA issues TD1 form for British Columbia residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of British Columbia for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amo...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of British Columbia for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amo...
BC - December 31 deadline for 2021 property tax deferment applications
The province provides a program which allows eligible B.C. residents to defer property taxes owed on a principal residence. Under the regular program individuals who are 55 years of age or older, a su...
The province provides a program which allows eligible B.C. residents to defer property taxes owed on a principal residence. Under the regular program individuals who are 55 years of age or older, a su...
BC - Final employer health tax instalment payment for 2021 due December 15
Employers in British Columbia which have annual payrolls of more than $500,000 are subject to the provincial Employer Health Tax. Some of those employers are required to make three instalment payments...
Employers in British Columbia which have annual payrolls of more than $500,000 are subject to the provincial Employer Health Tax. Some of those employers are required to make three instalment payments...
BC - Updated information issued on speculation and vacancy tax
The province imposes a speculation and vacancy tax on specified types of residential properties located in major urban areas, based on the use which is made of such properties and the residency status...
The province imposes a speculation and vacancy tax on specified types of residential properties located in major urban areas, based on the use which is made of such properties and the residency status...
BC - Second-quarter fiscal report shows continued improvement in deficit picture
On November 22, the provincial government released its Second Quarterly Report (July 1 to September 30) for the current (2021-22) fiscal year, and that report contained good financial news for the pro...
On November 22, the provincial government released its Second Quarterly Report (July 1 to September 30) for the current (2021-22) fiscal year, and that report contained good financial news for the pro...
December 31 deadline for applications for Increased Employment Incentive
As part of its pandemic relief and recovery measures, the province introduced the Increased Employment Incentive. That program provides employers in the province with a one-time refundable tax credit ...
As part of its pandemic relief and recovery measures, the province introduced the Increased Employment Incentive. That program provides employers in the province with a one-time refundable tax credit ...
BC - Changing or correcting a home owner grant application
The province of British Columbia provides qualifying B.C. homeowners with a grant that reduces the amount of property tax such homeowners pay on a principal residence. B.C. Tax and Revenue recently po...
The province of British Columbia provides qualifying B.C. homeowners with a grant that reduces the amount of property tax such homeowners pay on a principal residence. B.C. Tax and Revenue recently po...
BC - December 31, 2021 deadline for applications for property tax deferment
The province of British Columbia provides qualifying residents with the option to defer payment of their property taxes. Such deferral may be provided to homeowners who are aged 55 or older, a single ...
The province of British Columbia provides qualifying residents with the option to defer payment of their property taxes. Such deferral may be provided to homeowners who are aged 55 or older, a single ...
BC - Updated bulletins issued on sales of multi-jurisdictional vehicles
Under provincial law, special tax rules apply where a vehicle is registered as a multi-jurisdictional vehicle, and a refund of sales tax or multi-jurisdictional vehicle tax paid may be provided. B.C. ...
Under provincial law, special tax rules apply where a vehicle is registered as a multi-jurisdictional vehicle, and a refund of sales tax or multi-jurisdictional vehicle tax paid may be provided. B.C. ...
BC - Upcoming changes to carbon tax and motor fuel tax filings
British Columbia’s Ministry of Finance has announced that, effective for reporting periods that start on or after April 1, 2022, all taxpayers with motor fuel and carbon tax accounts who are on a sc...
British Columbia’s Ministry of Finance has announced that, effective for reporting periods that start on or after April 1, 2022, all taxpayers with motor fuel and carbon tax accounts who are on a sc...
BC - Sales tax rebate program on purchases of machinery and equipment extended
In 2020, the provincial government announced that a sales tax rebate would be provided to corporations which purchased qualifying machinery and equipment prior to September 30, 2021. It was announced ...
In 2020, the provincial government announced that a sales tax rebate would be provided to corporations which purchased qualifying machinery and equipment prior to September 30, 2021. It was announced ...
BC - Province issues First Quarter Report for 2021-22 fiscal year
The provincial government has issued its financial report for the first quarter of the current (2021-22) fiscal year. The report indicates that the projected deficit for the current fiscal year is now...
The provincial government has issued its financial report for the first quarter of the current (2021-22) fiscal year. The report indicates that the projected deficit for the current fiscal year is now...
BC - Information issued on IFTA renewals for 2022
The B.C. Ministry of Finance has issued Tax Notice 2021-044,which provides information on renewals of IFTA licences for 2022. Current IFTA licences will expire on December 31, 2021, and licence holder...
The B.C. Ministry of Finance has issued Tax Notice 2021-044,which provides information on renewals of IFTA licences for 2022. Current IFTA licences will expire on December 31, 2021, and licence holder...
BC - Interest Rates - 2021
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province issues bulletin on sales tax changes effective October 1, 2021
In this year’s Budget, the province introduced two changes to the rules governing the application of sales tax to motor vehicle sales. Those changes, which take effect as of October 1, 2021, are as ...
In this year’s Budget, the province introduced two changes to the rules governing the application of sales tax to motor vehicle sales. Those changes, which take effect as of October 1, 2021, are as ...
BC - Second application period for PST rebate opens October 1, 2021
As part of its pandemic response, the province provides eligible corporations with a rebate of provincial sales tax paid on qualifying acquisitions of eligible machinery and equipment. Under that prog...
As part of its pandemic response, the province provides eligible corporations with a rebate of provincial sales tax paid on qualifying acquisitions of eligible machinery and equipment. Under that prog...
BC - Changes to royalty/taxpayer reporting deadline effective in September 2021
The British Columbia Ministry of Finance has issued an information sheet outlining a change in the royalty/taxpayer reporting deadline under the Petroleum and Natural Gas legislation. Currently, that ...
The British Columbia Ministry of Finance has issued an information sheet outlining a change in the royalty/taxpayer reporting deadline under the Petroleum and Natural Gas legislation. Currently, that ...
BC - September 30, 2021 deadline for acquisitions eligible for PST rebate
As part of its pandemic relief measures, the province announced a rebate program for businesses which acquire qualifying machinery and equipment between September 17, 2020 and September 30, 2021. Unde...
As part of its pandemic relief measures, the province announced a rebate program for businesses which acquire qualifying machinery and equipment between September 17, 2020 and September 30, 2021. Unde...
BC - Updated bulletin issued on PST and resale goods
While British Columbia levies a provincial sales tax (PST) on the sale of most goods in the province, exemptions to the tax are provided where goods are purchased for resale or lease or to be incorpor...
While British Columbia levies a provincial sales tax (PST) on the sale of most goods in the province, exemptions to the tax are provided where goods are purchased for resale or lease or to be incorpor...
BC - Province issues updated bulletin on registering to collect PST
B.C.’s Tax and Revenue Administration has updated and re-issued its bulletin on registering for purposes of provincial sales tax (PST) — PST 001, Registering to Collect PST — which was last upda...
B.C.’s Tax and Revenue Administration has updated and re-issued its bulletin on registering for purposes of provincial sales tax (PST) — PST 001, Registering to Collect PST — which was last upda...
BC - September 15 deadline for second Employer Health Tax instalment payment
The province requires employers who have a total annual payroll greater than $500,000 to register for purposes of the Employer Health (payroll) tax. Employers whose employer health tax payments for th...
The province requires employers who have a total annual payroll greater than $500,000 to register for purposes of the Employer Health (payroll) tax. Employers whose employer health tax payments for th...
BC - Tobacco tax return updated to reflect new tax rates
As announced in this year’s Budget, the province imposed an across-the-board increase in tobacco taxes, effective as of July 1, 2021. B.C. Finance has now re-issued Form FIN125, Collector’s Return...
As announced in this year’s Budget, the province imposed an across-the-board increase in tobacco taxes, effective as of July 1, 2021. B.C. Finance has now re-issued Form FIN125, Collector’s Return...
BC - Updated bulletin issued on application of sales tax to warranties and service agreements
B.C. Finance has updated and re-issued its bulletin on the application of provincial sales tax to warranties, service agreements, and maintenance agreements. The bulletin (PST 303) was last updated in...
B.C. Finance has updated and re-issued its bulletin on the application of provincial sales tax to warranties, service agreements, and maintenance agreements. The bulletin (PST 303) was last updated in...
BC - Province launches consultation process for 2022-23 Budget
The B.C. government has announced the start of the consultation process leading to the 2022-23 provincial Budget, which is scheduled to be released in the third week of February 2022. The press releas...
The B.C. government has announced the start of the consultation process leading to the 2022-23 provincial Budget, which is scheduled to be released in the third week of February 2022. The press releas...
BC - July 2 deadline for payment of speculation and vacancy tax
The province imposes a speculation and vacancy tax on properties located in major urban areas of British Columbia. The imposition of the tax and the rate of tax applied depends on the residency status...
The province imposes a speculation and vacancy tax on properties located in major urban areas of British Columbia. The imposition of the tax and the rate of tax applied depends on the residency status...
BC - Interest Rates - 2021
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Provincial tobacco taxes to increase effective July 1, 2021
As announced in this year’s provincial Budget, there will be an across the board increase in B.C. tobacco taxes effective July 1, 2021. The specific increases are as follows: Cigarettes: 29.5 cents...
As announced in this year’s provincial Budget, there will be an across the board increase in B.C. tobacco taxes effective July 1, 2021. The specific increases are as follows: Cigarettes: 29.5 cents...
BC - Business recovery grant final application deadline July 2, 2021
As part of its pandemic response, British Columbia provides business recovery grants to small and medium-sized businesses in the province. Grants of $10,000 to $30,000 are available to businesses who ...
As part of its pandemic response, British Columbia provides business recovery grants to small and medium-sized businesses in the province. Grants of $10,000 to $30,000 are available to businesses who ...
BC - Application process for 2021 Home Owner Grants now open
The provincial government has announced that applications for the 2021 home owner grant are now being processed. Eligible property owners in B.C. are advised to claim their 2021 grant as soon as they ...
The provincial government has announced that applications for the 2021 home owner grant are now being processed. Eligible property owners in B.C. are advised to claim their 2021 grant as soon as they ...
BC - Minimum wage to increase effective June 1, 2021
Effective as of June 1, 2021, the provincial general minimum wage will increase by 60 cents, from $14.60 to $15.20 per hour. Minimum wage applies regardless of how employees are paid — hourly, sala...
Effective as of June 1, 2021, the provincial general minimum wage will increase by 60 cents, from $14.60 to $15.20 per hour. Minimum wage applies regardless of how employees are paid — hourly, sala...
BC - No change to climate action tax credit as of July 1, 2021
As part of its pandemic response measures, the province deferred previously announced increases to provincial carbon tax rates which had been scheduled to take effect as of April 1, 2020. As a consequ...
As part of its pandemic response measures, the province deferred previously announced increases to provincial carbon tax rates which had been scheduled to take effect as of April 1, 2020. As a consequ...
BC - Applications for 2021 property tax deferment now available online
The province provides eligible B.C. homeowners with the option of deferring payment of their property taxes. There are two streams to that program — the Regular Program and the Families with Childre...
The province provides eligible B.C. homeowners with the option of deferring payment of their property taxes. There are two streams to that program — the Regular Program and the Families with Childre...
BC - Province extends filing deadline for multiple business tax credits
In the 2021-22 provincial Budget, it was announced that the deadline for filing claims for specific business tax credits had been extended. The new deadline is the earlier of December 31, 2020 and six...
In the 2021-22 provincial Budget, it was announced that the deadline for filing claims for specific business tax credits had been extended. The new deadline is the earlier of December 31, 2020 and six...
BC - Tobacco tax rates to increase effective July 1, 2021
As announced in the recent provincial Budget, B.C.’s tobacco tax rates will increase, effective July 1, 2021, as follows: cigarettes from 29.5 cents per cigarette to 32.5 cents; heated tobacco prod...
As announced in the recent provincial Budget, B.C.’s tobacco tax rates will increase, effective July 1, 2021, as follows: cigarettes from 29.5 cents per cigarette to 32.5 cents; heated tobacco prod...
BC - Changes to repayment rules for B.C. Emergency Benefit
During 2020, individuals in the province who applied for the B.C. Emergency Benefit were required to disclose their income from self-employment as part of the application process. As was the case with...
During 2020, individuals in the province who applied for the B.C. Emergency Benefit were required to disclose their income from self-employment as part of the application process. As was the case with...
BC - Provincial minimum wage to increase effective June 1, 2021
Effective June 1, 2021, the province will make two changes to its minimum wage structure. The first change will increase the general minimum wage by 60 cents, from $14.60 to $15.20 per hour. The secon...
Effective June 1, 2021, the province will make two changes to its minimum wage structure. The first change will increase the general minimum wage by 60 cents, from $14.60 to $15.20 per hour. The secon...
BC - Provincial Budget to be brought down this month
The 2021-22 B.C. Budget will be brought down on Tuesday, April 20, 2021. While the province usually operates on a fixed-date budget system, in which the annual budget is brought down during the third ...
The 2021-22 B.C. Budget will be brought down on Tuesday, April 20, 2021. While the province usually operates on a fixed-date budget system, in which the annual budget is brought down during the third ...
BC - Updated information issued on eligible programs for training tax credit
The province of British Columbia provides a training tax credit for both employers and apprentices who take part in eligible apprenticeship programs. The Training Tax Credit provides a basic credit fo...
The province of British Columbia provides a training tax credit for both employers and apprentices who take part in eligible apprenticeship programs. The Training Tax Credit provides a basic credit fo...
BC - Province extends book publishing tax credit for 5 years
British Columbia provides a refundable tax credit to eligible Canadian-controlled corporations that carry on a qualifying book publishing business in the province. The amount of the refundable tax cre...
British Columbia provides a refundable tax credit to eligible Canadian-controlled corporations that carry on a qualifying book publishing business in the province. The amount of the refundable tax cre...
BC - Province expands business recovery grant program
The B.C. government has announced that the deadline for applications for the Small and Medium Sized Business Recovery Grant program has been extended, and that the qualifying criteria for that program...
The B.C. government has announced that the deadline for applications for the Small and Medium Sized Business Recovery Grant program has been extended, and that the qualifying criteria for that program...
BC - Province announces carbon tax rates to take effect April 1, 2021
The provincial government has announced that changes to provincial carbon tax rates which were originally scheduled to take effect as of April 1, 2020 will now be implemented on April 1, 2021. B.C. Fi...
The provincial government has announced that changes to provincial carbon tax rates which were originally scheduled to take effect as of April 1, 2020 will now be implemented on April 1, 2021. B.C. Fi...
BC - Province to extend residential rent freeze to end of 2021
The provincial government has announced that it plans to extend the current residential rent freeze until December 31, 2021. The planned changes will include measures to limit illegal “renovictions...
The provincial government has announced that it plans to extend the current residential rent freeze until December 31, 2021. The planned changes will include measures to limit illegal “renovictions...
BC - Retroactive homeowner grant application process now open
The province provides qualifying B.C. homeowners with a grant to help with the cost of annual property taxes. A retroactive grant application process is now open for B.C. residents who qualified for b...
The province provides qualifying B.C. homeowners with a grant to help with the cost of annual property taxes. A retroactive grant application process is now open for B.C. residents who qualified for b...
BC - Province to provide one-time Recovery Benefit to eligible individuals and families
The provincial government has announced that it will be providing a new B.C. Recovery Benefit to eligible individuals and families resident in the province. The Recovery Benefit is a one-time benefit,...
The provincial government has announced that it will be providing a new B.C. Recovery Benefit to eligible individuals and families resident in the province. The Recovery Benefit is a one-time benefit,...
BC - Declaration period now open for speculation and vacancy tax for 2020
The province of British Columbia imposes a speculation and vacancy tax on some residential properties located in major urban areas of the province. Residential property owner(s) in the designated taxa...
The province of British Columbia imposes a speculation and vacancy tax on some residential properties located in major urban areas of the province. Residential property owner(s) in the designated taxa...
BC - Changes to Home Owner Grant application process for 2021
The British Columbia government has announced that, effective as of 2021, changes have been made to process by which residents of the province apply for the Home Owner Grant. That Home Owner Grant red...
The British Columbia government has announced that, effective as of 2021, changes have been made to process by which residents of the province apply for the Home Owner Grant. That Home Owner Grant red...
BC - Personal tax credit amounts for 2021
The province of British Columbia will provide the following personal tax amounts for 2021. Basic personal amount …………………………………… $11,070 Spouse or common law partner amount ...
The province of British Columbia will provide the following personal tax amounts for 2021. Basic personal amount …………………………………… $11,070 Spouse or common law partner amount ...
BC - Individual income tax rates and brackets for 2021
During the 2021 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
During the 2021 taxation year the province of British Columbia will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
BC - Province provides temporary increase in rebates for home energy conversions
The province of British Columbia provides rebates in varying amounts to homeowners who convert their home energy equipment from fossil-fuel-based systems. The province recently announced that such reb...
The province of British Columbia provides rebates in varying amounts to homeowners who convert their home energy equipment from fossil-fuel-based systems. The province recently announced that such reb...
BC - Interest Rates - 2021
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province issues Fall Fiscal Update
On December 17, the provincial Minister of Finance released British Columbia’s Fall Fiscal Update for the 2020-21 fiscal year. B.C. is now forecast to end the 2020-21 fiscal year with a deficit of $...
On December 17, the provincial Minister of Finance released British Columbia’s Fall Fiscal Update for the 2020-21 fiscal year. B.C. is now forecast to end the 2020-21 fiscal year with a deficit of $...
BC - December 31 deadline for property tax deferral applications
British Columbia provides a program under which eligible individuals may be able to defer payment of property taxes owed on a principal residence located in the province. That program is available to ...
British Columbia provides a program under which eligible individuals may be able to defer payment of property taxes owed on a principal residence located in the province. That program is available to ...
BC - Application process for B.C. Recovery Benefit opens December 18
The province will be providing B.C. residents with a B.C. Recovery Benefit of up to $500 per eligible individual and up to $1,000 per eligible family or single parent. Eligibility for the benefit is b...
The province will be providing B.C. residents with a B.C. Recovery Benefit of up to $500 per eligible individual and up to $1,000 per eligible family or single parent. Eligibility for the benefit is b...
BC - Payroll deduction formulas for 2021 released
The federal government has issued the payroll deduction formulas to be used by employers in British Columbia during the 2021 taxation year. Those formulas are outlined in Canada Revenue Agency publica...
The federal government has issued the payroll deduction formulas to be used by employers in British Columbia during the 2021 taxation year. Those formulas are outlined in Canada Revenue Agency publica...
BC - Farmers’ food donation tax credit program extended
The farmers' food donation tax credit is a non-refundable income tax credit to encourage farmers and farming corporations to donate certain agricultural products that they produce in B.C. to register...
The farmers' food donation tax credit is a non-refundable income tax credit to encourage farmers and farming corporations to donate certain agricultural products that they produce in B.C. to register...
BC - Province extends rent freeze until July 2021
The provincial government has announced that the current residential rent freeze will be extended until July 10, 2021. The extension is effective immediately, such that increases set to happen on Dece...
The provincial government has announced that the current residential rent freeze will be extended until July 10, 2021. The extension is effective immediately, such that increases set to happen on Dece...
BC - Training tax credits to be available until end of 2022
Employers and apprentices in the province who take part in eligible apprenticeship programs can claim a training tax credit. Programs eligible for that credit include both Red Seal and non-Red Seal tr...
Employers and apprentices in the province who take part in eligible apprenticeship programs can claim a training tax credit. Programs eligible for that credit include both Red Seal and non-Red Seal tr...
BC - Province defers planned increase in carbon tax rate
The B.C. government previously announced an increase in the provincial carbon tax rate, which was to be implemented in April 2020. The implementation of that change was subsequently deferred until at ...
The B.C. government previously announced an increase in the provincial carbon tax rate, which was to be implemented in April 2020. The implementation of that change was subsequently deferred until at ...
BC - Province provides extended deadlines for payment of EHT instalments
Businesses in British Columbia which have an annual payroll of $500,000 or more are subject to the provincial Employer Health Tax (EHT). Businesses subject to EHT are also required to make instalment ...
Businesses in British Columbia which have an annual payroll of $500,000 or more are subject to the provincial Employer Health Tax (EHT). Businesses subject to EHT are also required to make instalment ...
BC - Interest Rates - 2020
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Provincial sales tax rebate to be provided on acquisitions of qualifying equipment and machinery
The provincial government has announced that it will be providing incorporated British Columbia businesses with a rebate of provincial sales tax (PST) paid on acquisitions of qualifying equipment and ...
The provincial government has announced that it will be providing incorporated British Columbia businesses with a rebate of provincial sales tax (PST) paid on acquisitions of qualifying equipment and ...
BC - Province extends deadline for claims for corporate tax credits
The province of British Columbia provides a number of refundable and non-refundable tax credits to corporations doing business in the province. Each of those tax credit programs has a different deadli...
The province of British Columbia provides a number of refundable and non-refundable tax credits to corporations doing business in the province. Each of those tax credit programs has a different deadli...
BC - Province introduces new increased employment incentive for employers
The provincial government has announced that qualifying employers in British Columbia who increase the amount of remuneration paid during the fourth quarter of 2020 may be eligible for a new 15% refun...
The provincial government has announced that qualifying employers in British Columbia who increase the amount of remuneration paid during the fourth quarter of 2020 may be eligible for a new 15% refun...
BC - Interest relief period ends on September 30, 2020
As part of its pandemic relief measures, the province announced earlier this year that it would provide an interest relief period with respect to payments owed under a wide range of provincial tax pro...
As part of its pandemic relief measures, the province announced earlier this year that it would provide an interest relief period with respect to payments owed under a wide range of provincial tax pro...
BC - Province sets limit for residential rent increases in 2021
The provincial government has announced that, under British Columbia’s rent control legislation, the maximum allowable rent increase for 2021 has been set at 1.4%. In addition, to protect tenants wh...
The provincial government has announced that, under British Columbia’s rent control legislation, the maximum allowable rent increase for 2021 has been set at 1.4%. In addition, to protect tenants wh...
BC - Province releases 2019-20 public accounts
The provincial government has released the full Public Accounts for the 2019-2020 fiscal year which ended on March 31, 2020, and those figures confirm the economic impact of the current pandemic. The ...
The provincial government has released the full Public Accounts for the 2019-2020 fiscal year which ended on March 31, 2020, and those figures confirm the economic impact of the current pandemic. The ...
BC - Employer health tax filing and payment deadline extended
B.C. Small Business and Revenue has announced that the filing and payment deadline for Employer Health Tax (EHT) returns for 2019 has been extended. Following the change, such returns and final paymen...
B.C. Small Business and Revenue has announced that the filing and payment deadline for Employer Health Tax (EHT) returns for 2019 has been extended. Following the change, such returns and final paymen...
BC - Province announces changes to employer health tax instalment payment due dates
The province of British Columbia imposes an employer health (payroll) tax, and employers subject to that tax must make instalment payments throughout the year. Employers required to make instalment pa...
The province of British Columbia imposes an employer health (payroll) tax, and employers subject to that tax must make instalment payments throughout the year. Employers required to make instalment pa...
BC - Province updates tobacco tax web pages
British Columbia Small Business and Revenue has updated the webpages for the provincial tobacco tax, to eliminate outdated information and to correct errors. The updated webpages can be found at Buyi...
British Columbia Small Business and Revenue has updated the webpages for the provincial tobacco tax, to eliminate outdated information and to correct errors. The updated webpages can be found at Buyi...
BC - Updated PST bulletin outlines tax treatment of cannabis and vaping related products
British Columbia Small Business and Revenue has updated and re-issued its bulletin on the application of provincial sales tax to various types of goods sold in grocery and drug stores in the province....
British Columbia Small Business and Revenue has updated and re-issued its bulletin on the application of provincial sales tax to various types of goods sold in grocery and drug stores in the province....
BC - Fiscal update projects deficit of up to $12.5 billion for 2020-21
On July 14, the British Columbia government provided an updated report on the province’s finances as of the end of the 2020-21 fiscal year. That Economic and Fiscal Update indicates that the costs o...
On July 14, the British Columbia government provided an updated report on the province’s finances as of the end of the 2020-21 fiscal year. That Economic and Fiscal Update indicates that the costs o...
BC - New sales tax exemption provided to real property contractors
As announced in this year’s provincial Budget, real property contractors who supply and affix — or install — goods so that they become part of real property situated outside British Columbia are...
As announced in this year’s provincial Budget, real property contractors who supply and affix — or install — goods so that they become part of real property situated outside British Columbia are...
BC - Changes to registration requirements for provincial sales tax
As announced in this year’s provincial Budget, changes were made to the registration requirements for purposes of provincial sales tax (PST), effective as of July 1, 2020. B.C. Small Business and Re...
As announced in this year’s provincial Budget, changes were made to the registration requirements for purposes of provincial sales tax (PST), effective as of July 1, 2020. B.C. Small Business and Re...
BC - Eligibility criteria for provincial Emergency Benefit for Workers expanded
Earlier this year, the provincial government announced the creation of the B.C. Emergency Benefit for Workers, a one-time, tax-free payment of $1,000. This benefit was payable to B.C. workers who had ...
Earlier this year, the provincial government announced the creation of the B.C. Emergency Benefit for Workers, a one-time, tax-free payment of $1,000. This benefit was payable to B.C. workers who had ...
BC - Upcoming deadlines for property tax deferral and Home Owner Grant applications for 2020
The province provides a property tax deferral program for qualifying residents, as well as a Home Owner Grant program to help offset property tax costs. Applications under both the property tax deferr...
The province provides a property tax deferral program for qualifying residents, as well as a Home Owner Grant program to help offset property tax costs. Applications under both the property tax deferr...
BC - Interest Rates - 2020
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province launches online consultation process for 2021 Budget
The provincial government has announced that the consultation process for the 2021-22 Budget will be held this month, and will be conducted entirely online. The next B.C. Budget will be brought down i...
The provincial government has announced that the consultation process for the 2021-22 Budget will be held this month, and will be conducted entirely online. The next B.C. Budget will be brought down i...
BC - Filing deadline for logging tax returns deferred
The provincial government has announced that corporations that have a B.C. logging tax return due between the periods of March 18, 2020 to August 31, 2020 must file that return on or before September ...
The provincial government has announced that corporations that have a B.C. logging tax return due between the periods of March 18, 2020 to August 31, 2020 must file that return on or before September ...
BC - Province extends payment of provincial tax credits and benefits
The benefit year for many federal and provincial benefits, including the B.C. Climate Action Tax Credit and the Early Childhood Tax Benefit runs from July 1 to June 30. Eligibility for and the amount ...
The benefit year for many federal and provincial benefits, including the B.C. Climate Action Tax Credit and the Early Childhood Tax Benefit runs from July 1 to June 30. Eligibility for and the amount ...
BC - Provincial minimum wage to increase June 1, 2020
As previously announced, the general minimum wage payable in British Columbia will increase by 75 cents, from $13.85 to $14.60 per hour. The change is effective as of June 1, 2020. The general minimum...
As previously announced, the general minimum wage payable in British Columbia will increase by 75 cents, from $13.85 to $14.60 per hour. The change is effective as of June 1, 2020. The general minimum...
BC - Disaster Financial Assistance available for overland flood damage
The provincial government has announced that Disaster Financial Assistance (DFA) is now available for eligible British Columbians in the Cariboo Regional District and the Fraser-Fort George Regional D...
The provincial government has announced that Disaster Financial Assistance (DFA) is now available for eligible British Columbians in the Cariboo Regional District and the Fraser-Fort George Regional D...
BC - Applications available for provincial emergency benefit for workers
Residents of British Columbia who are eligible for the federal Canada Emergency Response Benefit may also receive the B.C. Emergency Benefit for Workers (BCEBW), and the online application process for...
Residents of British Columbia who are eligible for the federal Canada Emergency Response Benefit may also receive the B.C. Emergency Benefit for Workers (BCEBW), and the online application process for...
BC - Update issued to changes to sales tax filing and payment deadlines
The provincial government previously announced that, effective as of March 23, 2020, filing and payment due dates for provincial sales taxes had been deferred until September 30, 2020. That notice (20...
The provincial government previously announced that, effective as of March 23, 2020, filing and payment due dates for provincial sales taxes had been deferred until September 30, 2020. That notice (20...
BC - Changes to property tax deferment application process
British Columbia provides a program under which qualifying homeowners in the province can defer payment of their property taxes. Homeowners can apply for the deferment as soon as they receive their pr...
British Columbia provides a program under which qualifying homeowners in the province can defer payment of their property taxes. Homeowners can apply for the deferment as soon as they receive their pr...
BC - Applications available for temporary rental supplement
The provincial government has announced that it will be providing a temporary rental supplement for eligible residents of British Columbia, and that applications for that rental supplement can now be ...
The provincial government has announced that it will be providing a temporary rental supplement for eligible residents of British Columbia, and that applications for that rental supplement can now be ...
BC - Province to provide one-time emergency benefit to workers
The provincial government has announced that it will be providing a one-time tax-free payment of $1,000 to B.C. residents who are unable to work due to the pandemic. Details of how the payment will be...
The provincial government has announced that it will be providing a one-time tax-free payment of $1,000 to B.C. residents who are unable to work due to the pandemic. Details of how the payment will be...
BC - Carbon tax rates frozen and climate action incentive increased
The British Columbia government has announced that changes to the province’s carbon tax rates which were scheduled to take effect as of April 1, 2020 will not be implemented, and that such rates are...
The British Columbia government has announced that changes to the province’s carbon tax rates which were scheduled to take effect as of April 1, 2020 will not be implemented, and that such rates are...
BC - Filing and payment deadlines extended for some provincial tax programs
The provincial government has announced that, effective as of March 23, 2020, filing and payment deadlines for most provincial payroll, consumption, and commodity taxes have been extended to September...
The provincial government has announced that, effective as of March 23, 2020, filing and payment deadlines for most provincial payroll, consumption, and commodity taxes have been extended to September...
BC - Interest Rates - 2020
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Carbon tax rates to increase April 1, 2020
The provincial government has announced that B.C.’s carbon tax rates will increase, effective as of April 1, 2020. In addition, changes will be made to those rates to align them with “federal carb...
The provincial government has announced that B.C.’s carbon tax rates will increase, effective as of April 1, 2020. In addition, changes will be made to those rates to align them with “federal carb...
BC - 2020-21 Budget includes new post-secondary student grant program
The 2020-21 provincial Budget brought down on February 18 included an announcement of a new post-secondary student grant program which will take effect for the fall 2020 semester. Eligibility for the ...
The 2020-21 provincial Budget brought down on February 18 included an announcement of a new post-secondary student grant program which will take effect for the fall 2020 semester. Eligibility for the ...
BC - Training tax credits extended for further three years
The province provides a training tax credit for employers and apprentices who take part in eligible apprenticeship programs. There are three main elements to the training tax credit, as follows: Basi...
The province provides a training tax credit for employers and apprentices who take part in eligible apprenticeship programs. There are three main elements to the training tax credit, as follows: Basi...
BC - 2020-21 Budget includes tax increase for high-income taxpayers
The 2020-21 provincial Budget, which was brought down on February 18, included the announcement of a tax increase for high-income residents of the province. The Minister of Finance announced that a ne...
The 2020-21 provincial Budget, which was brought down on February 18, included the announcement of a tax increase for high-income residents of the province. The Minister of Finance announced that a ne...
BC - Online property tax deferment applications available in May 2020
The province provides a property tax deferment program which enables qualifying residents of British Columbia to defer payment of their property taxes to a future date, through a low-interest loan pro...
The province provides a property tax deferment program which enables qualifying residents of British Columbia to defer payment of their property taxes to a future date, through a low-interest loan pro...
BC - B.C. Finance makes Tax Interpretation Manual available online
The B.C. Ministry of Finance has announced that its Tax Interpretation Manual (TIM) for provincial consumption tax statutes is now available online. The TIM describes how the Ministry of Finance inter...
The B.C. Ministry of Finance has announced that its Tax Interpretation Manual (TIM) for provincial consumption tax statutes is now available online. The TIM describes how the Ministry of Finance inter...
BC - 2019 tax return package for B.C. residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of British Columbia as of December 31, 2019. That return and guide ...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of British Columbia as of December 31, 2019. That return and guide ...
BC - Speculation and vacancy tax declaration due by March 31, 2020
Between January 24 and February 21, British Columbia homeowners living in communities where the speculation and vacancy tax applies will receive, by mail, a package which includes the required declara...
Between January 24 and February 21, British Columbia homeowners living in communities where the speculation and vacancy tax applies will receive, by mail, a package which includes the required declara...
BC - Interest Rates - 2020
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province reduces Home Owner Grant assessment threshold for 2020
The province of British Columbia provides a grant program – the Home Owner Grant – to help offset property taxes payable by eligible B.C. homeowners. The grant ranges from $570 to $1,045 and is re...
The province of British Columbia provides a grant program – the Home Owner Grant – to help offset property taxes payable by eligible B.C. homeowners. The grant ranges from $570 to $1,045 and is re...
BC - Medical services plan (MSP) premiums eliminated as of January 1, 2020
Effective as of January 1, 2020, B.C. residents will no longer be required to make Medical Services Plan premium payments. In 2017, the provincial government announced that such premium payments would...
Effective as of January 1, 2020, B.C. residents will no longer be required to make Medical Services Plan premium payments. In 2017, the provincial government announced that such premium payments would...
BC - Personal tax credit amounts for 2020
The province of British Columbia will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $10,949 Spouse or common law partner ...
The province of British Columbia will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $10,949 Spouse or common law partner ...
BC - Tobacco tax increase to take effect January 1, 2020
As previously announced, the province’s tobacco tax will increase by 2 cents per cigarette, to 29.5 cents, effective as of January 1, 2020. As a consequence of that increase, all retail and wholesal...
As previously announced, the province’s tobacco tax will increase by 2 cents per cigarette, to 29.5 cents, effective as of January 1, 2020. As a consequence of that increase, all retail and wholesal...
BC - Province issues second-quarter fiscal results
The provincial government has released the figures summarizing British Columbia’s revenue and expenditure picture as of the end of the second quarter of the 2019-20 fiscal year. The second quarter o...
The provincial government has released the figures summarizing British Columbia’s revenue and expenditure picture as of the end of the second quarter of the 2019-20 fiscal year. The second quarter o...
BC - Sales tax on vaping products to increase January 1, 2020
The provincial government has announced that the provincial sales tax (PST) rate applied to vaping products will increase from 7% to 20%, effective as of January 1, 2020. The government also indicated...
The provincial government has announced that the provincial sales tax (PST) rate applied to vaping products will increase from 7% to 20%, effective as of January 1, 2020. The government also indicated...
BC - December 31, 2019 deadline for Employer Health Tax registration
Effective as of January 1, 2019, the province introduced a new Employer Health (payroll) Tax (EHT). All employers in the province who are subject to the tax (generally, for for-profit employers, those...
Effective as of January 1, 2019, the province introduced a new Employer Health (payroll) Tax (EHT). All employers in the province who are subject to the tax (generally, for for-profit employers, those...
BC - Home Owner Grant application deadline December 31, 2019
Qualifying homeowners in the province may receive a Home Owner Grant to help offset the cost of property taxes payable on their principal residence. The terms and qualifications for this grant differ,...
Qualifying homeowners in the province may receive a Home Owner Grant to help offset the cost of property taxes payable on their principal residence. The terms and qualifications for this grant differ,...
BC - Renewal of IFTA licences for 2020
The province has issued a reminder to holders of International Fuel Tax Agreement licences that current licences will expire at the end of the calendar year. In order to receive a licence for 2020 pri...
The province has issued a reminder to holders of International Fuel Tax Agreement licences that current licences will expire at the end of the calendar year. In order to receive a licence for 2020 pri...
BC - Province’s triple AAA credit rating affirmed
A press release issued by the provincial government indicates that the credit rating agency Standard & Poor’s has affirmed British Columbia’s AAA long-term rating. The province will, as a resu...
A press release issued by the provincial government indicates that the credit rating agency Standard & Poor’s has affirmed British Columbia’s AAA long-term rating. The province will, as a resu...
BC - Interest Rates - 2019
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
BC - Province releases first quarter results for 2019-2020
The British Columbia government has released figures summarizing the province’s fiscal position as of the end of the first quarter of 2019-20 (June 30, 2019). Those figures show that the province is...
The British Columbia government has released figures summarizing the province’s fiscal position as of the end of the first quarter of 2019-20 (June 30, 2019). Those figures show that the province is...
BC - Employer Health Tax instalment payment due September 15
As of January 1, 2019, the province of British Columbia imposes an Employer Health (payroll) Tax (EHT) to help fund the province’s health care system. The EHT generally applies to companies within t...
As of January 1, 2019, the province of British Columbia imposes an Employer Health (payroll) Tax (EHT) to help fund the province’s health care system. The EHT generally applies to companies within t...
BC - Province enhances small business venture capital tax credit
British Columbia provides individual taxpayers in the province with a Small Business Venture Capital Tax Credit, the purpose of which is to encourage equity capital investments in B.C. small businesse...
British Columbia provides individual taxpayers in the province with a Small Business Venture Capital Tax Credit, the purpose of which is to encourage equity capital investments in B.C. small businesse...
BC - Farmers food donation tax credit program extended to end of 2020
The provincial government provides B.C. farmers (whether individuals or corporations) with a tax credit for qualifying food donations made. For both individuals and corporations, the credit is equal t...
The provincial government provides B.C. farmers (whether individuals or corporations) with a tax credit for qualifying food donations made. For both individuals and corporations, the credit is equal t...
BC - Information provided on EHT and First Nations employers and employees
B.C. Small Business and Revenue has issued information on the application of the provincial employer health tax to First Nations employers and employees. The update, which can be found at https://www2...
B.C. Small Business and Revenue has issued information on the application of the provincial employer health tax to First Nations employers and employees. The update, which can be found at https://www2...
BC - Second instalment payment of employer health tax due September 15
Effective as of January 1, 2019, the province levies an employer health (payroll) tax on annual remuneration over $500,000 paid in British Columbia. Employers whose annual EHT liability is more than $...
Effective as of January 1, 2019, the province levies an employer health (payroll) tax on annual remuneration over $500,000 paid in British Columbia. Employers whose annual EHT liability is more than $...
BC - Updated bulletin issued on sales tax on promotional materials
B.C. Small Business and Revenue has updated and re-issued the provincial tax bulletin (Bulletin PST 311) which outlines the provincial sales tax (PST) treatment of materials purchased and provided for...
B.C. Small Business and Revenue has updated and re-issued the provincial tax bulletin (Bulletin PST 311) which outlines the provincial sales tax (PST) treatment of materials purchased and provided for...
BC - Province releases financial results for fiscal 2018-19
The province has announced the final revenue, expenditure, and surplus/deficit figures for its fiscal year ended March 31, 2019. Those Public Accounts indicate that provincial revenue for the year was...
The province has announced the final revenue, expenditure, and surplus/deficit figures for its fiscal year ended March 31, 2019. Those Public Accounts indicate that provincial revenue for the year was...
BC - Training tax credits available until December 31, 2019
The province of British Columbia provides training tax credits which may be claimed by both apprentices and by their employers. Such credits are paid to qualifying apprentices upon the completion of e...
The province of British Columbia provides training tax credits which may be claimed by both apprentices and by their employers. Such credits are paid to qualifying apprentices upon the completion of e...
BC - Increase in tax levied on gasoline and diesel in Greater Vancouver
Effective July 1, 2019, the dedicated tax on clear gasoline and clear diesel sold inside the Greater Vancouver area was increased by 1.5¢ per litre. To reflect that change, the following tax bulletin...
Effective July 1, 2019, the dedicated tax on clear gasoline and clear diesel sold inside the Greater Vancouver area was increased by 1.5¢ per litre. To reflect that change, the following tax bulletin...
BC - Province receives AAA rating from three agencies
Each of the three major credit rating agencies has provided British Columbia with a triple-A rating. In providing those ratings, Moody’s, DBRS, and Standard & Poor’s cited British Columbia’s...
Each of the three major credit rating agencies has provided British Columbia with a triple-A rating. In providing those ratings, Moody’s, DBRS, and Standard & Poor’s cited British Columbia’s...
BC - Interest Rates - 2019
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Speculation and vacancy tax audit procedures announced
The province imposes a Speculation and Vacancy tax on owners of certain residential properties in specified areas of the province. All residential property owners in those areas, in order to be exempt...
The province imposes a Speculation and Vacancy tax on owners of certain residential properties in specified areas of the province. All residential property owners in those areas, in order to be exempt...
BC - Climate action tax credit to be increased effective July 1
The province of British Columbia provides a climate action tax credit to eligible B.C. residents, to help offset the impact of carbon tax. The amount of climate action tax credit will be increased, ef...
The province of British Columbia provides a climate action tax credit to eligible B.C. residents, to help offset the impact of carbon tax. The amount of climate action tax credit will be increased, ef...
BC - Applying for the provincial property tax deferral program
The province provides a program through which eligible B.C. homeowners can defer payment of their property taxes. An application is required to participate in the program and, before applying, the hom...
The province provides a program through which eligible B.C. homeowners can defer payment of their property taxes. An application is required to participate in the program and, before applying, the hom...
BC - Updated Bulletin issued on tax appeals
Taxpayers in the province have the right to appeal assessments, disallowed refunds, and other decisions made by the provincial Minister of Finance under a broad range of taxing statutes. Those statute...
Taxpayers in the province have the right to appeal assessments, disallowed refunds, and other decisions made by the provincial Minister of Finance under a broad range of taxing statutes. Those statute...
BC - Province provides updated information on Employer Health Tax
British Columbia implemented an employer health (payroll) tax effective January 1, 2019. B.C. Small Business and Revenue recently posted updated information with respect to the tax on the EHT website....
British Columbia implemented an employer health (payroll) tax effective January 1, 2019. B.C. Small Business and Revenue recently posted updated information with respect to the tax on the EHT website....
BC - Province’s triple A credit rating affirmed by Moody’s
The international credit rating agency Moody’s Investors Services has affirmed British Columbia’s AAA credit rating, with a stable outlook. In its rating decision, Moody’s cited the province’s...
The international credit rating agency Moody’s Investors Services has affirmed British Columbia’s AAA credit rating, with a stable outlook. In its rating decision, Moody’s cited the province’s...
BC - Provincial minimum wage increases effective June 1
Effective as of June 1, 2019, the British Columbia general minimum wage will increase from $12.65 per hour to $13.85 per hour. As of the same date, minimum wage rates payable to workers in specific ty...
Effective as of June 1, 2019, the British Columbia general minimum wage will increase from $12.65 per hour to $13.85 per hour. As of the same date, minimum wage rates payable to workers in specific ty...
BC - Province increases energy-efficiency rebates
British Columbia provides a program — Clean B.C. — in which homeowners who purchase new energy-efficient products and equipment can receive a rebate to help offset a portion of the purchase price....
British Columbia provides a program — Clean B.C. — in which homeowners who purchase new energy-efficient products and equipment can receive a rebate to help offset a portion of the purchase price....
BC - Carbon tax changes effective April 1, 2019
Effective as of April 1, 2019, increases in provincial carbon tax rates took effect. Bulletin MFT-CT 005, Tax Rates on Fuels, has been updated to reflect those changes. Consequential changes have bee...
Effective as of April 1, 2019, increases in provincial carbon tax rates took effect. Bulletin MFT-CT 005, Tax Rates on Fuels, has been updated to reflect those changes. Consequential changes have bee...
BC - Changes made to update tobacco tax website
B.C. Small Business and Revenue has announced that it has updated and redesigned its website for the provincial tobacco tax. As part of that redesign, the following tobacco tax bulletins have been ret...
B.C. Small Business and Revenue has announced that it has updated and redesigned its website for the provincial tobacco tax. As part of that redesign, the following tobacco tax bulletins have been ret...
BC - Updated information added to Speculation and Vacancy tax website
The provincial government imposes a Speculation and Vacancy tax intended to target foreign and domestic speculators who own residences in B.C. but who do not pay taxes in the province. Property owners...
The provincial government imposes a Speculation and Vacancy tax intended to target foreign and domestic speculators who own residences in B.C. but who do not pay taxes in the province. Property owners...
BC - Provincial minimum wage to increase June 1
As of June 1, 2019, the general minimum wage payable in the province will increase by $1.20 per hour, from $12.65 to $13.85. Different minimum wage rates apply to liquor servers, live-in camp leaders,...
As of June 1, 2019, the general minimum wage payable in the province will increase by $1.20 per hour, from $12.65 to $13.85. Different minimum wage rates apply to liquor servers, live-in camp leaders,...
BC - Interest Rates - 2019
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province extends training tax credit programs
In this year’s Budget, the province announced that its program of training tax credits, which was scheduled to end on December 31, 2018, has instead been extended and will be available until the end...
In this year’s Budget, the province announced that its program of training tax credits, which was scheduled to end on December 31, 2018, has instead been extended and will be available until the end...
BC - Province expands Venture Capital Tax Credit program
The province provides a Venture Capital Tax Credit (VCC) program, under which individual investors can claim a tax credit for qualifying investments made during the year or within 60 days after year e...
The province provides a Venture Capital Tax Credit (VCC) program, under which individual investors can claim a tax credit for qualifying investments made during the year or within 60 days after year e...
BC - Climate action tax credit amounts to increase July 1, 2019
The province of British Columbia provides a non-taxable climate action tax credit to help offset the impact of the carbon taxes paid by provincial residents. That credit is paid four times a year, com...
The province of British Columbia provides a non-taxable climate action tax credit to help offset the impact of the carbon taxes paid by provincial residents. That credit is paid four times a year, com...
BC - Province to provide new Child Opportunity Benefit
As announced in the recent provincial Budget, and effective as of October 1, 2020, the existing early childhood tax benefit will be combined with the new Child Opportunity Benefit to provide a single ...
As announced in the recent provincial Budget, and effective as of October 1, 2020, the existing early childhood tax benefit will be combined with the new Child Opportunity Benefit to provide a single ...
BC - 2019-20 Budget eliminates interest on government student loans
In the 2019-20 B.C. Budget brought down on February 19, the provincial government announced that it was eliminating interest charges on all student loans, effective immediately. The change means that ...
In the 2019-20 B.C. Budget brought down on February 19, the provincial government announced that it was eliminating interest charges on all student loans, effective immediately. The change means that ...
BC - Notice provided on third-party payments of employer health tax
As of January 1, 2019, the province implemented a payroll tax — the Employer Health Tax (EHT). B.C. Small Business and Revenue has now issued a Notice providing information on the remittance of EHT ...
As of January 1, 2019, the province implemented a payroll tax — the Employer Health Tax (EHT). B.C. Small Business and Revenue has now issued a Notice providing information on the remittance of EHT ...
BC - Province issues updated PST bulletin on cannabis sales
The B.C. Ministry of Finance has updated and re-issued its provincial sales tax bulletin with respect to sales of cannabis in the province. The updated bulletin (Bulletin PST 141), which applies to sa...
The B.C. Ministry of Finance has updated and re-issued its provincial sales tax bulletin with respect to sales of cannabis in the province. The updated bulletin (Bulletin PST 141), which applies to sa...
BC - 2019-20 Budget to be brought down on February 19
The 2019-20 British Columbia Budget is, by law, brought down on the third Tuesday of February. Consequently, this year’s B.C. Budget will be announced on Tuesday February 19, 2019. When the Budget i...
The 2019-20 British Columbia Budget is, by law, brought down on the third Tuesday of February. Consequently, this year’s B.C. Budget will be announced on Tuesday February 19, 2019. When the Budget i...
BC - Employer Health Tax implemented effective January 1, 2019
The provincial government has announced that registration for the B.C. Employer Health Tax (EHT) is now open. Employers having an annual B.C. payroll of more than the basic exemption amount of $500,00...
The provincial government has announced that registration for the B.C. Employer Health Tax (EHT) is now open. Employers having an annual B.C. payroll of more than the basic exemption amount of $500,00...
BC - Upcoming filing deadline for speculation and vacancy tax
In 2018, the provincial government announced the creation of a speculation and vacancy tax (SVT), as part of its housing affordability initiative. All owners living in areas subject to the SVT must re...
In 2018, the provincial government announced the creation of a speculation and vacancy tax (SVT), as part of its housing affordability initiative. All owners living in areas subject to the SVT must re...
BC - Interest Rates - 2019
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
BC - CRA issues supplementary 2019 payroll deduction tables for B.C. residents
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of British Columbia during the 2019 tax year.The supplement, which can be found on the CRA we...
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of British Columbia during the 2019 tax year.The supplement, which can be found on the CRA we...
BC - Second quarter fiscal report shows increased surplus
The B.C. Minister of Finance has announced that the province is operating debt-free for the first time in more than 40 years. The announcement was made as part of the Province’s Second Quarterly Rep...
The B.C. Minister of Finance has announced that the province is operating debt-free for the first time in more than 40 years. The announcement was made as part of the Province’s Second Quarterly Rep...
BC - Personal tax credit amounts for 2019
The province of British Columbia will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $10,682 Spouse or equivalent to spous...
The province of British Columbia will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $10,682 Spouse or equivalent to spous...
BC - New reporting requirements for condo sales in 2019
In its 2018-19 Budget, the province announced a 30-Point Housing Plan through which a number of measures would be implemented to address housing affordability in the province. As part of that Plan, an...
In its 2018-19 Budget, the province announced a 30-Point Housing Plan through which a number of measures would be implemented to address housing affordability in the province. As part of that Plan, an...
BC - Employment health (payroll) tax to be implemented January 1
As previously announced, the province will be implementing an employer health (payroll) tax, effective as of January 1, 2019. At the same time, Medical Service Plan premiums payable by B.C. residents ...
As previously announced, the province will be implementing an employer health (payroll) tax, effective as of January 1, 2019. At the same time, Medical Service Plan premiums payable by B.C. residents ...
BC - Province issues updated bulletin on obtaining PST refunds
Consumers in the province can claim a refund of provincial sales tax (PST) paid, where such tax was overpaid or paid in error. The B.C. Ministry of Small Business and Revenue has updated and re-issued...
Consumers in the province can claim a refund of provincial sales tax (PST) paid, where such tax was overpaid or paid in error. The B.C. Ministry of Small Business and Revenue has updated and re-issued...
BC - Province announces contingency plans for postal disruption
The provincial government has announced the contingency plans which will apply for purposes of payments to and from the province in the event of a postal disruption. That announcement indicates that q...
The provincial government has announced the contingency plans which will apply for purposes of payments to and from the province in the event of a postal disruption. That announcement indicates that q...
BC - Province issues warning on third party Child Care Benefit application services
In September 2018, the province introduced a new Affordable Child Care Benefit for eligible residents of the province. It has now issued a warning to such residents about online services which purport...
In September 2018, the province introduced a new Affordable Child Care Benefit for eligible residents of the province. It has now issued a warning to such residents about online services which purport...
BC - Updated bulletins issued on tax on short-term accommodation
British Columbia levies both provincial sales tax (PST) and a separate Municipal and Regional District Tax (MRDT) accommodation tax on sales of short-term accommodation in the province. Effective as o...
British Columbia levies both provincial sales tax (PST) and a separate Municipal and Regional District Tax (MRDT) accommodation tax on sales of short-term accommodation in the province. Effective as o...
BC - Interest Rates - 2018
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - New Logging Tax Information Sheet issued
Individual and corporations which generate revenue from logging on private or Crown land in British Columbia are subject to the provincial logging tax. That tax applies to such individuals and corpora...
Individual and corporations which generate revenue from logging on private or Crown land in British Columbia are subject to the provincial logging tax. That tax applies to such individuals and corpora...
BC - Province launches pre-Budget consultation process
The provincial government has announced the start of the pre-budget consultation process for the 2019-20 B.C. Budget, which will be brought down on Tuesday, February 19, 2019. To assist in that the pr...
The provincial government has announced the start of the pre-budget consultation process for the 2019-20 B.C. Budget, which will be brought down on Tuesday, February 19, 2019. To assist in that the pr...
BC - New Affordable Child Care Benefit effective as of September 1
Effective as of September 1, the province replaced its existing child care subsidy with the Affordable Child Care Benefit. That new benefit will, in most cases, be paid to child care providers, with t...
Effective as of September 1, the province replaced its existing child care subsidy with the Affordable Child Care Benefit. That new benefit will, in most cases, be paid to child care providers, with t...
BC - Public accounts confirm surplus for fiscal 2017-18
B.C.’s Minister of Finance has released the Public Accounts for the fiscal year ended March 31, 2018. Those accounts confirm that the province recorded a surplus for the 2017-18 fiscal year. The aud...
B.C.’s Minister of Finance has released the Public Accounts for the fiscal year ended March 31, 2018. Those accounts confirm that the province recorded a surplus for the 2017-18 fiscal year. The aud...
BC - New notices issued on transition to Petrinex
As previously announced, the province will be joining Petrinex, effective as of November 5, 2018. The purpose of the change is to improve how information about the oil and gas industry is recorded and...
As previously announced, the province will be joining Petrinex, effective as of November 5, 2018. The purpose of the change is to improve how information about the oil and gas industry is recorded and...
BC - Farmers’ food donation tax credit program extended
British Columbia provides farm corporations in the province with a tax credit for donations to registered charities (such as food banks or school meal programs) of certain agricultural products which ...
British Columbia provides farm corporations in the province with a tax credit for donations to registered charities (such as food banks or school meal programs) of certain agricultural products which ...
BC - Changes to be made to provincial automobile insurance program
The provincial government has announced that significant changes will be made to the provincial automobile insurance program administered by ICBC. Key proposed changes to basic insurance through ICBC ...
The provincial government has announced that significant changes will be made to the provincial automobile insurance program administered by ICBC. Key proposed changes to basic insurance through ICBC ...
BC - Interactive digital media tax credit program extended
The province provides a refundable tax credit equal to 17.5% of the wages and salaries paid in a tax year in relation to the development of eligible interactive digital media tax products, which inclu...
The province provides a refundable tax credit equal to 17.5% of the wages and salaries paid in a tax year in relation to the development of eligible interactive digital media tax products, which inclu...
BC - New information disclosure requirements for some real estate purchasers
Effective as of September 17, 2018, the province will require additional information to be disclosed where real estate in the province is purchased through a trust or a corporation. In such circumstan...
Effective as of September 17, 2018, the province will require additional information to be disclosed where real estate in the province is purchased through a trust or a corporation. In such circumstan...
BC - Notice outlines upcoming changes to reporting and invoice due dates
Effective as of November 2018, reporting requirements for oil and gas activities in the province will be changing. Those changes include the implementation of Petrinex, as well as new revenue administ...
Effective as of November 2018, reporting requirements for oil and gas activities in the province will be changing. Those changes include the implementation of Petrinex, as well as new revenue administ...
BC - Updated bulletins issued on application of PST to delivery charges
B.C. Small Business and Revenue has updated and re-issued a number of provincial sales tax bulletins. The purpose of each update is to indicate that, effective as of April 1, 2018, delivery charges ar...
B.C. Small Business and Revenue has updated and re-issued a number of provincial sales tax bulletins. The purpose of each update is to indicate that, effective as of April 1, 2018, delivery charges ar...
BC - Province releases details of upcoming employer health (payroll) tax
As previously announced, the province will be implementing an employer health (payroll) tax, or EHT, effective as of January 1, 2019. Details of that payroll tax have now been released. The payroll ta...
As previously announced, the province will be implementing an employer health (payroll) tax, or EHT, effective as of January 1, 2019. Details of that payroll tax have now been released. The payroll ta...
BC - Changes to be made to regulation of payday loan companies
The B.C. government has announced that new regulations will apply to payday loan businesses and cheque cashing services operating in the province. Those new regulations will take effect as of Septembe...
The B.C. government has announced that new regulations will apply to payday loan businesses and cheque cashing services operating in the province. Those new regulations will take effect as of Septembe...
BC - Interest Rates - 2018
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - New caregiver tax credit available for 2018
The province announced, in this year’s Budget, that the existing B.C. Infirm Dependant and In-Home Care of Relative Tax Credits would be replaced by a new B.C. Caregiver Tax Credit. The new credit i...
The province announced, in this year’s Budget, that the existing B.C. Infirm Dependant and In-Home Care of Relative Tax Credits would be replaced by a new B.C. Caregiver Tax Credit. The new credit i...
BC - Minimum wage increase effective June 1
Effective as of June 1, the general minimum wage payable in the province of British Columbia increased to $12.65 per hour. The change is part of a planned series of increases which will result in a $1...
Effective as of June 1, the general minimum wage payable in the province of British Columbia increased to $12.65 per hour. The change is part of a planned series of increases which will result in a $1...
BC - Deferring 2018 property taxes
Qualifying homeowners in the province can take advantage of a program which allows them to defer payment of their property taxes, through a low-interest loan from the province. There are two component...
Qualifying homeowners in the province can take advantage of a program which allows them to defer payment of their property taxes, through a low-interest loan from the province. There are two component...
BC - Provincial education tax credit to be eliminated
The province announced, as part of this year’s (2018-19) Budget, that it would be eliminating the provincial education tax credit, effective as of January 1, 2019. That credit is claimable by part-t...
The province announced, as part of this year’s (2018-19) Budget, that it would be eliminating the provincial education tax credit, effective as of January 1, 2019. That credit is claimable by part-t...
BC - Information bulletins updated to reflect sales tax on gift certificates
B.C. Small Business and Revenue has updated and re-issued a number of tax bulletins to reflect the application of sales tax to certain gift cards and gift certificates. The updated bulletins cover the...
B.C. Small Business and Revenue has updated and re-issued a number of tax bulletins to reflect the application of sales tax to certain gift cards and gift certificates. The updated bulletins cover the...
BC - Province creates Small Business Task Force
The provincial government has announced the creation of a Small Business Tax Force, which will be holding consultation sessions throughout the province for interested stakeholders. An online consultat...
The provincial government has announced the creation of a Small Business Tax Force, which will be holding consultation sessions throughout the province for interested stakeholders. An online consultat...
BC - Rating agency affirms B.C.’s AAA credit rating
Standard and Poor’s (S&P) Global Ratings has affirmed British Columbia’s ‘AAA’ long-term credit rating, with the Agency’s report indicating that it expects “the provincial economy will...
Standard and Poor’s (S&P) Global Ratings has affirmed British Columbia’s ‘AAA’ long-term credit rating, with the Agency’s report indicating that it expects “the provincial economy will...
BC - Changes to caregiver tax credits for 2018 and subsequent years
As announced in the province’s 2018-19 Budget, changes have been made to the provincial caregiver tax credit, effective for the 2018 and subsequent taxation years. Those changes will see the former ...
As announced in the province’s 2018-19 Budget, changes have been made to the provincial caregiver tax credit, effective for the 2018 and subsequent taxation years. Those changes will see the former ...
BC - Changes to carbon tax and tobacco tax rates effective April 1, 2018
As previously announced, B.C.’s tobacco tax and carbon tax rates were increased, effective as of April 1, 2018. Updated tobacco tax return forms and carbon tax refund forms which reflect the new rat...
As previously announced, B.C.’s tobacco tax and carbon tax rates were increased, effective as of April 1, 2018. Updated tobacco tax return forms and carbon tax refund forms which reflect the new rat...
BC - Interest Rates - 2018
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax, and insurance premium tax. ...
BC - Province releases details of new land speculation tax
In its 2018-19 Budget, the province announced that a land speculation tax would be imposed, in specified areas of the province, on housing units which were neither owner-occupied nor used as a qualify...
In its 2018-19 Budget, the province announced that a land speculation tax would be imposed, in specified areas of the province, on housing units which were neither owner-occupied nor used as a qualify...
BC - Updated bulletins issued to correct re: provincial sales tax error
The B.C. Ministry of Small Business and Revenue has updated and re-issued a number of sales tax bulletins. Those updates correct an error in previous versions, which incorrectly indicated that provinc...
The B.C. Ministry of Small Business and Revenue has updated and re-issued a number of sales tax bulletins. Those updates correct an error in previous versions, which incorrectly indicated that provinc...
BC - Higher PST rate to be levied on sales of some passenger vehicles
In this year’s Budget, the provincial government announced that changes would be made to impose a higher provincial sales tax (PST) rate on the sale of some passenger vehicles in the province. Under...
In this year’s Budget, the provincial government announced that changes would be made to impose a higher provincial sales tax (PST) rate on the sale of some passenger vehicles in the province. Under...
BC - Budget provides for increase to property transfer tax rate
The 2018-19 B.C. Budget included a number of changes to the province’s property transfer tax regime. Such tax is imposed when property is bought or sold and the tax payable is based on the fair mark...
The 2018-19 B.C. Budget included a number of changes to the province’s property transfer tax regime. Such tax is imposed when property is bought or sold and the tax payable is based on the fair mark...
BC - Personal tax credit amounts for 2018
The province of British Columbia will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,412 Spouse or equivalent to spouse...
The province of British Columbia will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,412 Spouse or equivalent to spouse...
BC - Budget introduces real estate speculation tax
In its 2018-19 Budget, the provincial government introduced a new real estate speculation tax, which will be effective for the 2018 and subsequent tax years. The new tax will target foreign and domest...
In its 2018-19 Budget, the provincial government introduced a new real estate speculation tax, which will be effective for the 2018 and subsequent tax years. The new tax will target foreign and domest...
BC - Province increases and expands additional property transfer tax
In the 2018-19 provincial Budget brought down on February 20, 2018, the B.C. government announced that the existing 15% additional property transfer tax rate has been increased to 20%, and that such t...
In the 2018-19 provincial Budget brought down on February 20, 2018, the B.C. government announced that the existing 15% additional property transfer tax rate has been increased to 20%, and that such t...
BC - 2018-19 provincial Budget to be brought down February 20
British Columbia Budget legislation provides for a fixed annual budget date of the third Tuesday of February. Consequently, the 2018-19 B.C. Budget will be announced at around 1:30 p.m. on Tuesday, Fe...
British Columbia Budget legislation provides for a fixed annual budget date of the third Tuesday of February. Consequently, the 2018-19 B.C. Budget will be announced at around 1:30 p.m. on Tuesday, Fe...
BC - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of British Columbia will levy personal income tax at the following individual income tax rates and brackets. 06% on taxable income between $10,412 and $39,676; 7% ...
For the 2018 tax year, the province of British Columbia will levy personal income tax at the following individual income tax rates and brackets. 06% on taxable income between $10,412 and $39,676; 7% ...
BC - Medical services plan premiums reduced by 50%
As announced in the 2017 Budget Update, the province has reduced Medical Service Premiums (MSP) by one half, effective as of January 1, 2018. As well, the income threshold for full exemption from MSP ...
As announced in the 2017 Budget Update, the province has reduced Medical Service Premiums (MSP) by one half, effective as of January 1, 2018. As well, the income threshold for full exemption from MSP ...
BC - Provincial general corporate income tax rate increased effective January 1
As announced in the 2017 Budget Update last fall, the provincial general corporate income tax rate was increased, effective as of January 1, 2018, from 11% to 12%. The general corporate income tax rat...
As announced in the 2017 Budget Update last fall, the provincial general corporate income tax rate was increased, effective as of January 1, 2018, from 11% to 12%. The general corporate income tax rat...
BC - Increase in Homeowner Grant program threshold for 2018
The provincial government has announced that the threshold for British Columbia’s Homeowner Grant program has been increased, for 2018, to $1.65 million. Homeowners must apply for the grant each yea...
The provincial government has announced that the threshold for British Columbia’s Homeowner Grant program has been increased, for 2018, to $1.65 million. Homeowners must apply for the grant each yea...
BC - CRA releases 2017 T1 tax return form for B.C. residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of British Columbia at the end of that year. The T1 form p...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of British Columbia at the end of that year. The T1 form p...
BC - Interest Rates – 2018
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
The province of British Columbia levies and pays interest at prescribed rates on underpayments and overpayments of tax with respect to corporation capital tax, logging tax and insurance premium tax. T...
BC - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which B.C. employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension Plan...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which B.C. employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension Plan...
BC - Changes to rent control legislation effective December 11
A number of changes to the province’s rent control legislation took effect on December 11, 2017. One of the changes effective on that date limits the ability of landlords of rental residential units...
A number of changes to the province’s rent control legislation took effect on December 11, 2017. One of the changes effective on that date limits the ability of landlords of rental residential units...
BC - 2017-18 second quarter fiscal report released
British Columbia’s fiscal report for the second quarter of the 2017-18 fiscal year shows that the province is on track to post a balanced budget for the year. That balanced budget is expected notwit...
British Columbia’s fiscal report for the second quarter of the 2017-18 fiscal year shows that the province is on track to post a balanced budget for the year. That balanced budget is expected notwit...
BC - 2018 BC TD1 Form and TD1Worksheet released
The Canada Revenue Agency has issued the British Columbia TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income ...
The Canada Revenue Agency has issued the British Columbia TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income ...
BC - Upcoming change to sales tax treatment of clean energy vehicles
The B.C. Ministry of Finance has issued a provincial sales tax (PST) notice dealing with the application of PST to sales of clean energy vehicles in the province. That notice (Notice 2017-005) address...
The B.C. Ministry of Finance has issued a provincial sales tax (PST) notice dealing with the application of PST to sales of clean energy vehicles in the province. That notice (Notice 2017-005) address...
BC - Consultation process underway on changes to minimum wage
The provincial government, which previously announced its intention of raising the minimum wage to $15 per hour, will be holding public consultations on the timeline and process for that change.The co...
The provincial government, which previously announced its intention of raising the minimum wage to $15 per hour, will be holding public consultations on the timeline and process for that change.The co...
MB - Two-month GST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
MB - New Home Owners’ Affordability Tax Credit to take effect in 2025
As announced in the 2024-25 provincial budget, and beginning with the 2025 tax year, the existing School Tax Rebate and Education Property Tax Credit and Advance will be replaced by a new Homeowners A...
As announced in the 2024-25 provincial budget, and beginning with the 2025 tax year, the existing School Tax Rebate and Education Property Tax Credit and Advance will be replaced by a new Homeowners A...
MB - Province provides update on filing and payment methods during postal disruption
Manitoba Finance has issued a new Information Notice (RST 24-02) on filing provincial tax returns and on making tax payments and obtaining refunds during the current postal disruption.All return filin...
Manitoba Finance has issued a new Information Notice (RST 24-02) on filing provincial tax returns and on making tax payments and obtaining refunds during the current postal disruption.All return filin...
MB - Changes to basic personal income tax credit effective January 1, 2025
As announced in this year’s Manitoba budget, changes will be made to the availability of the province’s basic personal amount (BPA), effective as of January 1, 2025. For 2025, the BPA is projected...
As announced in this year’s Manitoba budget, changes will be made to the availability of the province’s basic personal amount (BPA), effective as of January 1, 2025. For 2025, the BPA is projected...
MB - Increase in provincial minimum wage as of October 1
Effective as of October 1, 2024, the general minimum wage payable in Manitoba increased from $15.30 to $15.80 per hour. The change was based on a 3.5% increase in the province’s Consumer Price Index...
Effective as of October 1, 2024, the general minimum wage payable in Manitoba increased from $15.30 to $15.80 per hour. The change was based on a 3.5% increase in the province’s Consumer Price Index...
MB - Renters’ Tax Credit to increase in 2025
The province of Manitoba provides a refundable tax credit to residential tenants in the province. Individuals who rent their principal residence can claim (for 2024) a tax credit of $43.75 for each mo...
The province of Manitoba provides a refundable tax credit to residential tenants in the province. Individuals who rent their principal residence can claim (for 2024) a tax credit of $43.75 for each mo...
MB - Province issues fiscal reports for 2023-24 and first quarter of 2024-25
The Manitoba government recently issued both its final financial report for the 2023-24 fiscal year ended March 31, 2024 and its report for the first quarter (April 1 – June 30) of the current (2024...
The Manitoba government recently issued both its final financial report for the 2023-24 fiscal year ended March 31, 2024 and its report for the first quarter (April 1 – June 30) of the current (2024...
MB - Data processing investment tax credits to be eliminated
Since 2013, Manitoba has provided refundable corporate income tax credits for corporations engaged in qualifying data processing activities in the province. The Manitoba data processing investment tax...
Since 2013, Manitoba has provided refundable corporate income tax credits for corporations engaged in qualifying data processing activities in the province. The Manitoba data processing investment tax...
MB - Province announces rent increase guideline for 2025
The provincial government has announced that, for the 2025 calendar year, the rent increase guideline for most rental units in Manitoba has been set at 1.7%. That guideline is based on the percentage ...
The provincial government has announced that, for the 2025 calendar year, the rent increase guideline for most rental units in Manitoba has been set at 1.7%. That guideline is based on the percentage ...
MB - Updated Bulletin issued on application of sales tax to pet and pet supply stores
Manitoba Finance has updated and re-issued its Information Bulletin on the application of retail sales tax (RST) to sales of pets and pet supplies and services in the province. The updated Information...
Manitoba Finance has updated and re-issued its Information Bulletin on the application of retail sales tax (RST) to sales of pets and pet supplies and services in the province. The updated Information...
MB - Minimum wage increase to take effect October 1, 2024
Effective as of October 1, 2024, the general minimum wage payable in the province will increase by 50 cents per hour, from $15.30 to $15.80 per hour. The general minimum wage applies to most workers i...
Effective as of October 1, 2024, the general minimum wage payable in the province will increase by 50 cents per hour, from $15.30 to $15.80 per hour. The general minimum wage applies to most workers i...
MB - Province issues updated bulletin on sales tax and charities
Manitoba Finance has updated and re-issued its Bulletin (Information Bulletin RST 024 – Charitable and Non-Profit Organization Fund Raising Activities) outlining the application of the province’s ...
Manitoba Finance has updated and re-issued its Bulletin (Information Bulletin RST 024 – Charitable and Non-Profit Organization Fund Raising Activities) outlining the application of the province’s ...
MB - Updated Bulletin issued on RST record-keeping requirements for vendors
Manitoba businesses which sell goods and services in the province are required to maintain detailed records of such sales for Retail Sales Tax (RST) purposes. In general, businesses are required to ke...
Manitoba businesses which sell goods and services in the province are required to maintain detailed records of such sales for Retail Sales Tax (RST) purposes. In general, businesses are required to ke...
MB - Interest Rates - 2024
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2024 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2024 are as follows: ...
MB - Province launches electric vehicle rebate program
The province of Manitoba has announced the creation of a new Manitoba Electric Vehicle (EV) Rebate program. That program will offer a $4,000 incentive on new qualifying EV purchases and a $2,500 incen...
The province of Manitoba has announced the creation of a new Manitoba Electric Vehicle (EV) Rebate program. That program will offer a $4,000 incentive on new qualifying EV purchases and a $2,500 incen...
MB - Updated Bulletin issued on PST obligations of vendors
Manitoba Finance has updated and re-issued its retail sales tax (RST) Bulletin (Information for Vendors – RST 004) on the obligations and responsibilities imposed on vendors under the province’s R...
Manitoba Finance has updated and re-issued its retail sales tax (RST) Bulletin (Information for Vendors – RST 004) on the obligations and responsibilities imposed on vendors under the province’s R...
MB - Basic personal amount to be phased out for high income earners
All individual taxpayers in Manitoba can claim a Basic Personal Amount (BPA), which reduces provincial income tax otherwise payable by about $1,750. In its 2024-25 budget, the province announced that,...
All individual taxpayers in Manitoba can claim a Basic Personal Amount (BPA), which reduces provincial income tax otherwise payable by about $1,750. In its 2024-25 budget, the province announced that,...
MB - Data processing investment tax credits to be eliminated
The province offers eligible corporations the Data Processing Property Investment Tax Credit, which helps offset the cost of purchasing or leasing data processing property and buildings in Manitoba. I...
The province offers eligible corporations the Data Processing Property Investment Tax Credit, which helps offset the cost of purchasing or leasing data processing property and buildings in Manitoba. I...
MB - Cultural Industries Printing Tax Credit extended for additional year
The provincial Cultural Industries Printing Tax Credit provides Manitoba’s printing industry with a 35 per cent refundable credit on salary and wages paid to Manitoba employees who work in a company...
The provincial Cultural Industries Printing Tax Credit provides Manitoba’s printing industry with a 35 per cent refundable credit on salary and wages paid to Manitoba employees who work in a company...
MB - Province creates Rental Housing Construction Tax Credit
In its budget for the 2024-25 fiscal year, the province announced the creation of a new Rental Housing Construction Tax Credit. The new credit will provide $8,500 for the construction of new market-ra...
In its budget for the 2024-25 fiscal year, the province announced the creation of a new Rental Housing Construction Tax Credit. The new credit will provide $8,500 for the construction of new market-ra...
MB - Fertility treatment tax credit doubled for 2024
The province of Manitoba provides a refundable personal income tax credit for qualifying fees incurred for fertility treatments. That credit is equal to 40% of the amount of such fees, to a maximum of...
The province of Manitoba provides a refundable personal income tax credit for qualifying fees incurred for fertility treatments. That credit is equal to 40% of the amount of such fees, to a maximum of...
MB - Increase in annual sales threshold for mandatory retail sales tax registration
Retail businesses in Manitoba which have annual taxable sales of less than $10,000 are not required to register for purposes of the province’s retail sales tax system. In this year’s budget, the p...
Retail businesses in Manitoba which have annual taxable sales of less than $10,000 are not required to register for purposes of the province’s retail sales tax system. In this year’s budget, the p...
MB - 2024-25 budget extends fuel tax holiday
In November 2023, the Manitoba government announced that a fuel tax holiday would take effect as of January 1, 2024. That holiday reduced the tax payable on gasoline, diesel, and marked gasoline to ze...
In November 2023, the Manitoba government announced that a fuel tax holiday would take effect as of January 1, 2024. That holiday reduced the tax payable on gasoline, diesel, and marked gasoline to ze...
MB - Province announces increase in general minimum wage
The government of Manitoba has announced that the province’s general minimum wage will increase by 50 cents per hour, from $15.30 to $15.80 per hour.The change, which takes effect as of October 1, 2...
The government of Manitoba has announced that the province’s general minimum wage will increase by 50 cents per hour, from $15.30 to $15.80 per hour.The change, which takes effect as of October 1, 2...
MB - Date announced for 2024-25 provincial budget
The government of Manitoba has announced that the province’s budget for the upcoming (2024-25) fiscal year will be announced on Tuesday April 2, 2024. Once the budget measures are announced, the ful...
The government of Manitoba has announced that the province’s budget for the upcoming (2024-25) fiscal year will be announced on Tuesday April 2, 2024. Once the budget measures are announced, the ful...
MB - Individual income tax rates and brackets for 2024
During the 2024 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate Taxable Income Brackets 10.8% ...
During the 2024 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate Taxable Income Brackets 10.8% ...
MB - Personal tax credit amounts for 2024
The province of Manitoba will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $15,780 Spouse or equivalent-to-spouse amount …...
The province of Manitoba will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $15,780 Spouse or equivalent-to-spouse amount …...
MB - New Information Notice issued on temporary fuel tax holiday
The Manitoba government announced in late 2023 that a fuel tax holiday would be provided to residents of the province from January 1 to June 30, 2024. That fuel tax holiday applies to sales of marked ...
The Manitoba government announced in late 2023 that a fuel tax holiday would be provided to residents of the province from January 1 to June 30, 2024. That fuel tax holiday applies to sales of marked ...
MB - Interest Rates - 2024
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is as follo...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is as follo...
MB - Province launches consultation process for 2024-25 budget
The Manitoba government has announced the start of its public consultation process leading to the release of the province’s 2024-25 budget. The budget consultation process has several components, in...
The Manitoba government has announced the start of its public consultation process leading to the release of the province’s 2024-25 budget. The budget consultation process has several components, in...
MB - Province announces six-month fuel tax holiday
The provincial government has announced that Manitoba residents will be provided with a temporary fuel tax holiday on gasoline and diesel, to begin in 2024. That holiday will reduce the 14 cent per li...
The provincial government has announced that Manitoba residents will be provided with a temporary fuel tax holiday on gasoline and diesel, to begin in 2024. That holiday will reduce the 14 cent per li...
MB - Increases to payroll tax threshold amounts effective January 1, 2024
As announced in the 2023-24 provincial budget, and effective as of January 1, 2024, the exemption threshold for purposes of the Manitoba Health and Post Secondary Education (payroll) Tax will increase...
As announced in the 2023-24 provincial budget, and effective as of January 1, 2024, the exemption threshold for purposes of the Manitoba Health and Post Secondary Education (payroll) Tax will increase...
MB - Significant increases in personal income tax bracket amounts for 2024
As announced in the 2023-24 provincial budget, the income brackets which determine the applicable rate of provincial income tax will be increased substantially as of the 2024 tax year. Effective as of...
As announced in the 2023-24 provincial budget, the income brackets which determine the applicable rate of provincial income tax will be increased substantially as of the 2024 tax year. Effective as of...
MB - September 30 deadline for applications for affordability payments
The provincial government administers a number of programs intended to help offset increases in the cost of living for Manitoba residents. Those measures include the following: the Carbon Tax Relief ...
The provincial government administers a number of programs intended to help offset increases in the cost of living for Manitoba residents. Those measures include the following: the Carbon Tax Relief ...
MB - Federal government announces livestock tax deferral areas for 2023
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
MB - Minimum wage increase to take effect October 1, 2023
In 2022, the province announced that the Manitoba minimum wage would be increased in three stages, beginning on October 1, 2022. As of that date, the minimum wage was raised to $13.50. A further incre...
In 2022, the province announced that the Manitoba minimum wage would be increased in three stages, beginning on October 1, 2022. As of that date, the minimum wage was raised to $13.50. A further incre...
MB - Interest Rates - 2023
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2023 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2023 are as follows: ...
MB - Changes to payroll deductions to take effect July 1, 2023
In its 2023-24 budget issued earlier this year, the government of Manitoba announced an increase in the basic personal exemption which can be claimed by all Manitoba residents. As a result, the basic ...
In its 2023-24 budget issued earlier this year, the government of Manitoba announced an increase in the basic personal exemption which can be claimed by all Manitoba residents. As a result, the basic ...
MB - Updated sales tax bulletin issued for bed and breakfast operators
Owners of bed and breakfast operations in Manitoba must collect retail sales tax on meal and lodging packages which they sell, although an exemption is provided where the bed and breakfast has fewer t...
Owners of bed and breakfast operations in Manitoba must collect retail sales tax on meal and lodging packages which they sell, although an exemption is provided where the bed and breakfast has fewer t...
MB - Province issues updated Bulletin on taxable goods and services
The province of Manitoba imposes a retail sales tax (RST) on most goods sold in the province, and on some services. Taxable goods and services are taxed at the rate of 7 per cent at the time of purcha...
The province of Manitoba imposes a retail sales tax (RST) on most goods sold in the province, and on some services. Taxable goods and services are taxed at the rate of 7 per cent at the time of purcha...
MB - Updated bulletin issued on application of PST to online sales platforms and streaming services
Vendors who sell goods through online marketplaces are generally required to charge and collect provincial sales tax on such transactions. For this purpose, the rules define an online sales platform a...
Vendors who sell goods through online marketplaces are generally required to charge and collect provincial sales tax on such transactions. For this purpose, the rules define an online sales platform a...
MB - Changes made to Interactive Digital Media Tax Credit program
The province of Manitoba offers an Interactive Digital Media Tax Credit (IDMTC) program that allows eligible corporations to claim a tax credit based on eligible labour expenditures incurred in creati...
The province of Manitoba offers an Interactive Digital Media Tax Credit (IDMTC) program that allows eligible corporations to claim a tax credit based on eligible labour expenditures incurred in creati...
MB - Mineral exploration tax credit made permanent
The province of Manitoba provides a non-refundable tax credit to taxpayers who invest in flow-through shares of qualifying mineral exploration companies which carry out mineral exploration in the prov...
The province of Manitoba provides a non-refundable tax credit to taxpayers who invest in flow-through shares of qualifying mineral exploration companies which carry out mineral exploration in the prov...
MB - Payroll tax thresholds to be increased in 2024
The province of Manitoba levies a payroll tax – the Health and Post-Secondary Education Tax Levy – on employers in the province that have annual payrolls over a specified threshold. In its budget ...
The province of Manitoba levies a payroll tax – the Health and Post-Secondary Education Tax Levy – on employers in the province that have annual payrolls over a specified threshold. In its budget ...
MB - Province announces two increases in minimum wage during 2023
The government of Manitoba has announced that the provincial minimum wage will increase twice during this calendar year.The first increase was effective as of April 1, 2023, when the minimum wage incr...
The government of Manitoba has announced that the provincial minimum wage will increase twice during this calendar year.The first increase was effective as of April 1, 2023, when the minimum wage incr...
MB - Green Energy Equipment Tax Credit program made permanent
The province of Manitoba has for several years provided a tax credit to individuals, trusts, and corporations in the province on the purchase and installation of green energy equipment in their homes ...
The province of Manitoba has for several years provided a tax credit to individuals, trusts, and corporations in the province on the purchase and installation of green energy equipment in their homes ...
MB - 2023-24 budget includes reductions in personal income tax
The 2023-24 fiscal year budget announced on March 7 included several measures which will reduce individual provincial income tax payable over the next two years. For 2023, the basic personal exemption...
The 2023-24 fiscal year budget announced on March 7 included several measures which will reduce individual provincial income tax payable over the next two years. For 2023, the basic personal exemption...
MB - Province announces date for 2023-24 fiscal year budget
The Manitoba government has announced that the province’s 2023-24 fiscal year budget will be presented on Tuesday March 7, 2023. The news release announcing the budget date can be found on the provi...
The Manitoba government has announced that the province’s 2023-24 fiscal year budget will be presented on Tuesday March 7, 2023. The news release announcing the budget date can be found on the provi...
MB - Province announces new cost of living benefit program
The provincial government has announced the creation of the Carbon Tax Relief Fund, a new program intended to help residents of the province meet increases in the cost of living. Assistance under the ...
The provincial government has announced the creation of the Carbon Tax Relief Fund, a new program intended to help residents of the province meet increases in the cost of living. Assistance under the ...
MB - Individual income tax rates and brackets for 2023
During the 2023 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate Taxable Income Brackets...
During the 2023 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate Taxable Income Brackets...
MB - Upcoming increases to provincial minimum wage
The general minimum wage payable in Manitoba increased, effective as of October 1, 2022, from $11.95 per hour to $13.50 per hour. The provincial government recently confirmed that a second increase in...
The general minimum wage payable in Manitoba increased, effective as of October 1, 2022, from $11.95 per hour to $13.50 per hour. The provincial government recently confirmed that a second increase in...
MB - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by Manitoba employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Manitoba emp...
The Canada Revenue Agency has released the payroll deduction formulas to be used by Manitoba employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Manitoba emp...
MB - Payroll tax exemption threshold to increase in 2023
The province levies an Employer Health and Post-Secondary Education Tax Levy (payroll tax) on Manitoba employers having an annual payroll in excess of $1.75 million. As announced in the 2022-23 provin...
The province levies an Employer Health and Post-Secondary Education Tax Levy (payroll tax) on Manitoba employers having an annual payroll in excess of $1.75 million. As announced in the 2022-23 provin...
MB - Online filing now required for tobacco tax returns
Manitoba Finance has issued a new Bulletin (TT 22-01) indicating that, effective as of October 2022, monthly Tobacco Tax returns and tax payments must be completed using TAXcess, Manitoba Finance’s ...
Manitoba Finance has issued a new Bulletin (TT 22-01) indicating that, effective as of October 2022, monthly Tobacco Tax returns and tax payments must be completed using TAXcess, Manitoba Finance’s ...
MB - Manitoba Finance issues details of IFTA renewals for 2023
Manitoba Finance has issued its International Fuel Tax Agreement (IFTA) Bulletin for the third quarter of 2022, and that Bulletin includes details of the renewal process for IFTA licences and decals f...
Manitoba Finance has issued its International Fuel Tax Agreement (IFTA) Bulletin for the third quarter of 2022, and that Bulletin includes details of the renewal process for IFTA licences and decals f...
MB - Province issues updated Information Notice on application of RST to goods sold at fairs and trade shows
Manitoba Finance has updated and re-issued retail sales tax Information Notice RST13-02, which outlines the application of the province’s 7 per cent retail sales tax (RST) to the types of goods and ...
Manitoba Finance has updated and re-issued retail sales tax Information Notice RST13-02, which outlines the application of the province’s 7 per cent retail sales tax (RST) to the types of goods and ...
MB - Province to provide cost of living assistance payments
The Manitoba government has announced that it will be providing eligible residents of the province with one-time non-taxable payments to assist with recent increases in the cost of living. Under the n...
The Manitoba government has announced that it will be providing eligible residents of the province with one-time non-taxable payments to assist with recent increases in the cost of living. Under the n...
MB - Provincial minimum wage to increase to $15/hour by end of 2023
The province has announced changes that will bring the Manitoba general minimum wage to $15.00 per hour by the end of 2023. That minimum wage is already scheduled to increase from $11.95 to $13.50 per...
The province has announced changes that will bring the Manitoba general minimum wage to $15.00 per hour by the end of 2023. That minimum wage is already scheduled to increase from $11.95 to $13.50 per...
MB – Three-stage increase in minimum wage for heavy construction sector workers
The province of Manitoba provides for a separate minimum wage for workers in the heavy construction sector. The provincial government recently announced that such minimum wage, which has not changed s...
The province of Manitoba provides for a separate minimum wage for workers in the heavy construction sector. The provincial government recently announced that such minimum wage, which has not changed s...
MB - Provincial minimum wage to increase effective October 1, 2022
The Manitoba minimum wage is indexed to changes in the provincial Consumer Price Index. As a result of those changes, the Manitoba general minimum wage will increase, effective October 1, 2022. As of ...
The Manitoba minimum wage is indexed to changes in the provincial Consumer Price Index. As a result of those changes, the Manitoba general minimum wage will increase, effective October 1, 2022. As of ...
MB - Interest Rates - 2022
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2022 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2022 are as follows: ...
MB - Interest and penalty relief available to businesses affected by flooding
Manitoba Finance has issued an Information Notice (RST 22-01) indicating that businesses in the province which have been directly impacted by flooding and that are consequently unable to file any requ...
Manitoba Finance has issued an Information Notice (RST 22-01) indicating that businesses in the province which have been directly impacted by flooding and that are consequently unable to file any requ...
MB - Province increases personal tax credit amount starting in 2022
As announced in the province’s budget for the 2022–23 fiscal year, residents of the province will benefit from an increase in the basic personal amount, effective as of the 2022 tax year. As of Ja...
As announced in the province’s budget for the 2022–23 fiscal year, residents of the province will benefit from an increase in the basic personal amount, effective as of the 2022 tax year. As of Ja...
MB - Province announces Disaster Financial Assistance program
To address losses caused by this spring’s floods, the Manitoba government has activated the province’s Disaster Financial Assistance program. Under that program, assistance is generally provided f...
To address losses caused by this spring’s floods, the Manitoba government has activated the province’s Disaster Financial Assistance program. Under that program, assistance is generally provided f...
MB - Community Enterprise Development Tax Credit made permanent
Manitoba provides both individuals and corporations in the province with a Community Enterprise Development Tax Credit. Under that program, individuals and corporations who acquire equity capital in c...
Manitoba provides both individuals and corporations in the province with a Community Enterprise Development Tax Credit. Under that program, individuals and corporations who acquire equity capital in c...
MB - New Residential Renters Tax Credit announced in budget
As part of the 2022–23 Manitoba budget brought down on April 12, the provincial government announced that it would be providing a new tax credit for residential tenants in Manitoba. The new credit, ...
As part of the 2022–23 Manitoba budget brought down on April 12, the provincial government announced that it would be providing a new tax credit for residential tenants in Manitoba. The new credit, ...
MB - Province announces date for 2022-23 budget
The Manitoba government has announced that the province’s budget for the upcoming 2022–23 fiscal year will be released on Tuesday April 12, 2022. The press release announcing the budget date, whic...
The Manitoba government has announced that the province’s budget for the upcoming 2022–23 fiscal year will be released on Tuesday April 12, 2022. The press release announcing the budget date, whic...
MB - Updated Bulletins issued to reflect changes to provincial payroll tax
The province of Manitoba imposes a payroll tax — the Health and Post-Secondary Education Tax Levy. In its 2021-22 provincial Budget, the province announced that changes would be made to that tax, wh...
The province of Manitoba imposes a payroll tax — the Health and Post-Secondary Education Tax Levy. In its 2021-22 provincial Budget, the province announced that changes would be made to that tax, wh...
MB - Walk-in service not currently available at provincial taxation offices
Manitoba Finance has announced that, as part of pandemic restrictions, walk-in service is not currently being provided at its taxation offices. There are two such offices affected, one located in Winn...
Manitoba Finance has announced that, as part of pandemic restrictions, walk-in service is not currently being provided at its taxation offices. There are two such offices affected, one located in Winn...
MB - Province provides dates and times for 2022-23 Budget consultation meetings
Manitoba Finance has announced the dates and times at which virtual and telephone meetings will be held during the month of January, as part of the 2022-23 Budget consultation process. Telephone town ...
Manitoba Finance has announced the dates and times at which virtual and telephone meetings will be held during the month of January, as part of the 2022-23 Budget consultation process. Telephone town ...
MB - Interest Rates - 2022
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2022 is as follo...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2022 is as follo...
MB - CRA issues TD1 form for Manitoba residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Manitoba for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Manitoba for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for...
MB - Existing corporate tax credits extended to December 31, 2022
As part of its 2021-22 Budget, the province announced that two existing corporate tax credits, which were scheduled to expire as of December 31, 2021, would instead be extended. The Cultural Industrie...
As part of its 2021-22 Budget, the province announced that two existing corporate tax credits, which were scheduled to expire as of December 31, 2021, would instead be extended. The Cultural Industrie...
MB - Province launches consultation process for 2022-23 Budget
The province has initiated the consultation process leading to the release of the 2022-23 provincial Budget next spring. Consultation meetings will begin in November and December, through public meeti...
The province has initiated the consultation process leading to the release of the 2022-23 provincial Budget next spring. Consultation meetings will begin in November and December, through public meeti...
MB - Teaching expense tax credit claimable beginning in 2021
As announced in this year’s provincial Budget, teachers in the province will be able, beginning with the 2021 taxation year, to claim a new Teaching Expense Tax Credit. The new refundable tax credit...
As announced in this year’s provincial Budget, teachers in the province will be able, beginning with the 2021 taxation year, to claim a new Teaching Expense Tax Credit. The new refundable tax credit...
MB - Changes to health and post-secondary education (payroll) tax effective January 1, 2022
As announced in the 2021-22 Manitoba Budget, changes will be made to the province’s Health and Post-Secondary Education (payroll) tax, effective as of January 1, 2022. As of that date, the exemption...
As announced in the 2021-22 Manitoba Budget, changes will be made to the province’s Health and Post-Secondary Education (payroll) tax, effective as of January 1, 2022. As of that date, the exemption...
MB - Minimum wage increased effective October 1, 2021
Effective as of October 1, 2021, the provincial general minimum wage increased by 5 cents, from $11.90 to $11.95 per hour. Increases to the minimum wage are based on changes to the province’s Consum...
Effective as of October 1, 2021, the provincial general minimum wage increased by 5 cents, from $11.90 to $11.95 per hour. Increases to the minimum wage are based on changes to the province’s Consum...
MB - Province issues information on IFTA renewals for 2022
The IFTA Newsletter issued recently by Manitoba Finance for the third quarter of 2021 includes information on IFTA licence renewals for 2022.For 2022, the licence and decal fee will remain at $65 per ...
The IFTA Newsletter issued recently by Manitoba Finance for the third quarter of 2021 includes information on IFTA licence renewals for 2022.For 2022, the licence and decal fee will remain at $65 per ...
MB - Provincial sales tax to be applied to online sales of goods and services
As announced in this year’s provincial Budget, the application of the Manitoba retail sales tax will be extended later this year to apply to the online sales of goods and services. Effective as of D...
As announced in this year’s provincial Budget, the application of the Manitoba retail sales tax will be extended later this year to apply to the online sales of goods and services. Effective as of D...
MB - Provincial tax offices re-open for in-person service
The Taxation Division of Manitoba Finance has announced that the Manitoba Finance offices in Winnipeg and Brandon have re-opened to provide in-person services. Both offices will continue to provide se...
The Taxation Division of Manitoba Finance has announced that the Manitoba Finance offices in Winnipeg and Brandon have re-opened to provide in-person services. Both offices will continue to provide se...
MB - Minimum wage increase to take effect October 1, 2021
Effective as of October 1, 2021, the provincial general minimum wage will increase by 5 cents, from $11.90 to $11.95 per hour. Increases to the minimum wage are based on changes to the province’s Co...
Effective as of October 1, 2021, the provincial general minimum wage will increase by 5 cents, from $11.90 to $11.95 per hour. Increases to the minimum wage are based on changes to the province’s Co...
MB - Retail sales tax changes to take effect December 1, 2021
In this year’s Budget, the province announced a number of changes to the application of the Manitoba retail sales tax (RST), all of which are effective as of December 1, 2021. As of that date, RST w...
In this year’s Budget, the province announced a number of changes to the application of the Manitoba retail sales tax (RST), all of which are effective as of December 1, 2021. As of that date, RST w...
MB - Interest Rates - 2021
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2021 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2021 are as follows: ...
MB - Changes made to Digital Media Tax Credit
The province provides Canadian corporations engaged in the development of eligible interactive digital media products with a refundable tax credit of up to 40% of qualified labour expenditures. That 4...
The province provides Canadian corporations engaged in the development of eligible interactive digital media products with a refundable tax credit of up to 40% of qualified labour expenditures. That 4...
MB - Two current tax credits extended to end of 2022
In this year’s Budget, the province announced that two corporate tax credits — the Cultural Industries Printing Tax Credit and the Community Enterprise Development Tax Credit — which had both be...
In this year’s Budget, the province announced that two corporate tax credits — the Cultural Industries Printing Tax Credit and the Community Enterprise Development Tax Credit — which had both be...
MB - Province announces increase in minimum wage for October 1, 2021
The Manitoba government has announced that the general provincial minimum wage will increase, effective October 1, 2021, from $11.90 to $11.95 per hour. Changes to the Manitoba minimum wage are tied t...
The Manitoba government has announced that the general provincial minimum wage will increase, effective October 1, 2021, from $11.90 to $11.95 per hour. Changes to the Manitoba minimum wage are tied t...
MB - Education property tax rebate to be introduced in 2021
In its 2021-22 Budget, the provincial government announced that it would be phasing out education property taxes. That phase-out is to be accomplished by means of an education property tax rebate, whi...
In its 2021-22 Budget, the provincial government announced that it would be phasing out education property taxes. That phase-out is to be accomplished by means of an education property tax rebate, whi...
MB - Province extends and enhances pandemic business support programs
The province has announced that, in light of recently imposed additional public health measures, the Manitoba Bridge Grant will be extended. That grant was created in November 2020 to provide upfront ...
The province has announced that, in light of recently imposed additional public health measures, the Manitoba Bridge Grant will be extended. That grant was created in November 2020 to provide upfront ...
MB - Province to provide tax credit for purchases of eligible teaching supplies
In its 2021-22 Budget, the province announced that effective as of the 2021 tax year, a new credit will be provide for purchases of eligible teaching supplies. The new credit will be claimable by educ...
In its 2021-22 Budget, the province announced that effective as of the 2021 tax year, a new credit will be provide for purchases of eligible teaching supplies. The new credit will be claimable by educ...
MB - Interest and penalty free payment deferral to be provided for payroll tax remittances
Manitoba Finance has announced that Health and Post Secondary Education Tax Levy (payroll tax) returns for small and medium-sized businesses with remittances of no more than $10,000 per month are elig...
Manitoba Finance has announced that Health and Post Secondary Education Tax Levy (payroll tax) returns for small and medium-sized businesses with remittances of no more than $10,000 per month are elig...
MB - Date announced for 2021-22 provincial Budget
The Manitoba government has announced that the province’s Budget for the upcoming 2021-22 fiscal year will be brought down on Wednesday April 7, 2021. Once the Budget is released, the Budget papers ...
The Manitoba government has announced that the province’s Budget for the upcoming 2021-22 fiscal year will be brought down on Wednesday April 7, 2021. Once the Budget is released, the Budget papers ...
MB - Retail sales tax payment deadline extended for SMEs
Manitoba Finance has announced that small and medium-sized businesses with monthly retail sale tax (RST) remittances of no more than $10,000 per month will be eligible for an interest and penalty-free...
Manitoba Finance has announced that small and medium-sized businesses with monthly retail sale tax (RST) remittances of no more than $10,000 per month will be eligible for an interest and penalty-free...
MB - Province issues updated payroll tax information bulletins
Beginning in 2021, a number of changes were made to the province’s health and post-secondary education (payroll) tax. The thresholds for application of the tax were increased and a new online filing...
Beginning in 2021, a number of changes were made to the province’s health and post-secondary education (payroll) tax. The thresholds for application of the tax were increased and a new online filing...
MB - Online filing of Health and Post-Secondary Education Tax Levy returns required as of 2021
Beginning with the 2021 taxation year, Health and Post Secondary Education Tax Levy tax returns and tax payments must be completed using TAXcess, the provincial online tax filing and payment system. P...
Beginning with the 2021 taxation year, Health and Post Secondary Education Tax Levy tax returns and tax payments must be completed using TAXcess, the provincial online tax filing and payment system. P...
MB - Online filing of monthly provincial sales tax returns now mandatory
Effective as of January 2021, monthly filers of Retail Sales Tax returns must file those returns and make any required payments online. The first monthly RST return and payment that is required to be ...
Effective as of January 2021, monthly filers of Retail Sales Tax returns must file those returns and make any required payments online. The first monthly RST return and payment that is required to be ...
MB - Personal tax credit amounts for 2021
The province of Manitoba will provide the following personal tax amounts for 2021. Basic personal amount …………………………………… $9,936 Spouse or common law partner amount ………...
The province of Manitoba will provide the following personal tax amounts for 2021. Basic personal amount …………………………………… $9,936 Spouse or common law partner amount ………...
MB - Individual income tax rates and brackets for 2021
During the 2021 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
During the 2021 taxation year, the province of Manitoba will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
MB - Interest Rates - 2021
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2021 is as foll...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2021 is as foll...
MB - Province expands Manitoba Bridge Grant program for small businesses
On November 10, the provincial government announced the creation of the Manitoba Bridge Grant, which provides a grant of up to $5,000 to businesses, not-for-profits, and charities which were required ...
On November 10, the provincial government announced the creation of the Manitoba Bridge Grant, which provides a grant of up to $5,000 to businesses, not-for-profits, and charities which were required ...
MB - Changes to Health and Post-Secondary Education Tax Levy effective January 1, 2021
The province imposes a Health and Post-Secondary Education Tax Levy (payroll tax) on Manitoba employers. The tax is imposed, at varying rates, on annual payrolls which exceed a specified threshold. Ef...
The province imposes a Health and Post-Secondary Education Tax Levy (payroll tax) on Manitoba employers. The tax is imposed, at varying rates, on annual payrolls which exceed a specified threshold. Ef...
MB - Province provides Bridge Grant to businesses required to close
The province has announced that eligible small and medium-sized businesses which are required to fully close their premises under COVID-19 public health orders in effect as of November 12 may be provi...
The province has announced that eligible small and medium-sized businesses which are required to fully close their premises under COVID-19 public health orders in effect as of November 12 may be provi...
MB - Community Enterprise Development Tax Credit extended until end of 2021
Both individuals and corporations in Manitoba can claim a refundable tax credit for eligible investments made in community enterprises. The tax credit rate for such investments is 45%, and the maximum...
Both individuals and corporations in Manitoba can claim a refundable tax credit for eligible investments made in community enterprises. The tax credit rate for such investments is 45%, and the maximum...
MB - Manufacturing Investment Tax Credit program made permanent
The province provides eligible corporations which acquire manufacturing plant and equipment for first-time use in manufacturing or processing operations in the province with a tax credit which is part...
The province provides eligible corporations which acquire manufacturing plant and equipment for first-time use in manufacturing or processing operations in the province with a tax credit which is part...
MB - Updated bulletin issued on application of retail sales tax to specified accounting services
Earlier this year, the provincial government announced that changes would be made to the application of the Manitoba retail sales tax (RST) to certain accounting services. Manitoba Finance has now upd...
Earlier this year, the provincial government announced that changes would be made to the application of the Manitoba retail sales tax (RST) to certain accounting services. Manitoba Finance has now upd...
MB - Province extends payroll and sales tax filing deadlines
Manitoba Finance has issued two new information notices providing updated information on filing deadlines with respect to the province’s Health and Post-secondary Education (payroll) Levy and retail...
Manitoba Finance has issued two new information notices providing updated information on filing deadlines with respect to the province’s Health and Post-secondary Education (payroll) Levy and retail...
MB - Provincial minimum wage to increase October 1
Effective as of Thursday October 1, 2020, the Manitoba general minimum wage will increase by 25 cents, from $11.65 to $11.90 per hour. The adjustment to the minimum wage is based on Manitoba’s 201...
Effective as of Thursday October 1, 2020, the Manitoba general minimum wage will increase by 25 cents, from $11.65 to $11.90 per hour. The adjustment to the minimum wage is based on Manitoba’s 201...
MB - Province extends and expands employer wage subsidy program
Through its Back to Work Manitoba Wage Subsidy program, the province provides private-sector and non-profit employers with a subsidy of up to 50% of employee wages. The maximum per employer subsidy am...
Through its Back to Work Manitoba Wage Subsidy program, the province provides private-sector and non-profit employers with a subsidy of up to 50% of employee wages. The maximum per employer subsidy am...
MB - Provincial wage subsidy program enhanced
Earlier this year, the provincial government launched a program to assist employers in bringing back laid-off employees or hiring new ones. That program — the Back to Work Manitoba Initiative — pr...
Earlier this year, the provincial government launched a program to assist employers in bringing back laid-off employees or hiring new ones. That program — the Back to Work Manitoba Initiative — pr...
MB - Filing deadline extended for August and September payroll tax returns
Manitoba businesses which are required to pay the province’s health and education levy (payroll tax) must file monthly returns and remit amounts due at that time. Earlier this year, the province ann...
Manitoba businesses which are required to pay the province’s health and education levy (payroll tax) must file monthly returns and remit amounts due at that time. Earlier this year, the province ann...
MB - Updated Bulletin issued on insurance contract sales tax exemption
Effective as of the end of June 2020, certain types of insurance contracts relating to real estate in Manitoba are exempt from provincial sales tax. The exemption applies to the following types of ins...
Effective as of the end of June 2020, certain types of insurance contracts relating to real estate in Manitoba are exempt from provincial sales tax. The exemption applies to the following types of ins...
MB - Province expands employer wage subsidy program
The provincial government has announced that the existing employer wage subsidy program — the Back to Work program — has been expanded.The enhanced Back to Work program will reimburse up to $5,000...
The provincial government has announced that the existing employer wage subsidy program — the Back to Work program — has been expanded.The enhanced Back to Work program will reimburse up to $5,000...
MB - Interest Rates - 2020
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2020 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2020 are as follows: ...
MB - Changes to Film and Video Production Tax Credit effective June 1
The province of Manitoba provides a Film and Video Production Tax Credit, under which qualifying producers of eligible Manitoba productions may receive a tax credit of up to 65% of the cost of eligibl...
The province of Manitoba provides a Film and Video Production Tax Credit, under which qualifying producers of eligible Manitoba productions may receive a tax credit of up to 65% of the cost of eligibl...
MB - Province extends deadlines for filing of tax assessment appeals
Manitoba Finance has issued an Information Notice (TAMTA 20-02) outlining details of the temporary extension of the usual 90-day time period for the filing of appeals from provincial tax assessments. ...
Manitoba Finance has issued an Information Notice (TAMTA 20-02) outlining details of the temporary extension of the usual 90-day time period for the filing of appeals from provincial tax assessments. ...
MB - Sales tax exemption for residential and business property insurance
Manitoba Finance has issued Notice RST 20-04, announcing that as of July 1, 2020, provincial retail sales tax will no longer be levied on property insurance, for both residential and business properti...
Manitoba Finance has issued Notice RST 20-04, announcing that as of July 1, 2020, provincial retail sales tax will no longer be levied on property insurance, for both residential and business properti...
MB - Province to provide financial support for Manitoba small businesses
The Manitoba government has announced that it will be providing financial support, by way of a non-interest bearing forgivable loan, to small businesses in the province which do not qualify for any ma...
The Manitoba government has announced that it will be providing financial support, by way of a non-interest bearing forgivable loan, to small businesses in the province which do not qualify for any ma...
MB - Province suspends provincial student loan repayment requirements
The provincial government has announced that, effective as of April 1, it has suspended all repayments of loans under the Manitoba Student Aid Program. The suspension of such payments will continue un...
The provincial government has announced that, effective as of April 1, it has suspended all repayments of loans under the Manitoba Student Aid Program. The suspension of such payments will continue un...
MB - Filing and remittance deadlines extended for SMEs
Small and medium sized businesses in the province will be provided with an extension of current filing and remittance deadlines related to provincial sales tax and the Health and Post-Secondary Educat...
Small and medium sized businesses in the province will be provided with an extension of current filing and remittance deadlines related to provincial sales tax and the Health and Post-Secondary Educat...
MB - Changes to payroll tax to take effect January 1, 2021
The provincial government has announced that the threshold amounts which determine the payroll tax liability of Manitoba employers will be increased, effective January 1, 2021. As of that date, the fo...
The provincial government has announced that the threshold amounts which determine the payroll tax liability of Manitoba employers will be increased, effective January 1, 2021. As of that date, the fo...
MB - Province implements Green Levy and cuts sales tax rate
The province has announced that it will be implementing a flat $25 per tonne Green Levy, effective as of July 1, 2020. At the same time, the provincial general sales tax rate, which is currently 7%, w...
The province has announced that it will be implementing a flat $25 per tonne Green Levy, effective as of July 1, 2020. At the same time, the provincial general sales tax rate, which is currently 7%, w...
MB - 2020-21 Budget date announced
The provincial government has announced that Manitoba’s Budget for the 2020-21 fiscal year will be brought down on Wednesday March 11, 2020. Once the Budget is released, the Budget papers will be po...
The provincial government has announced that Manitoba’s Budget for the 2020-21 fiscal year will be brought down on Wednesday March 11, 2020. Once the Budget is released, the Budget papers will be po...
MB - Province issues updated bulletin on sales tax and legal services
Manitoba Finance has updated and re-issued its Bulletin (No. 056) on the application of provincial sales tax to legal services provided in the province. The major change outlined in the updated Bullet...
Manitoba Finance has updated and re-issued its Bulletin (No. 056) on the application of provincial sales tax to legal services provided in the province. The major change outlined in the updated Bullet...
MB - 2019 tax return package for Manitoba residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Manitoba as of December 31, 2019. That return and guide can be f...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Manitoba as of December 31, 2019. That return and guide can be f...
MB - Interest Rates - 2020
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2020 is as follo...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2020 is as follo...
MB - Province schedules additional budget consultation public meetings
Manitoba Finance has announced the dates, times, and locations of ten budget consultation public meetings which will be held throughout the province during the month of January. A listing of those dat...
Manitoba Finance has announced the dates, times, and locations of ten budget consultation public meetings which will be held throughout the province during the month of January. A listing of those dat...
MB - Personal tax credit amounts for 2020
The province of Manitoba will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $9,838 Spouse or common law partner amount ...
The province of Manitoba will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $9,838 Spouse or common law partner amount ...
MB - Province announces 2020 Budget consultation process
The Manitoba government has announced the launch of the consultation process for the 2020-21 provincial Budget. That consultation process will include a number of public meetings and telephone town ha...
The Manitoba government has announced the launch of the consultation process for the 2020-21 provincial Budget. That consultation process will include a number of public meetings and telephone town ha...
MB - Small business venture capital tax credit extended
The Manitoba government provides individuals and corporations in the province who acquire equity capital in eligible Manitoba enterprises with a non-refundable provincial tax credit of up to 45%. The ...
The Manitoba government provides individuals and corporations in the province who acquire equity capital in eligible Manitoba enterprises with a non-refundable provincial tax credit of up to 45%. The ...
MB - Province issues bulletin on application of PST to cannabis sales
Manitoba Finance has issued a new sales tax bulletin (No. 063) on the application of PST to sales of cannabis in the province. That application will differ, depending on whether cannabis products are ...
Manitoba Finance has issued a new sales tax bulletin (No. 063) on the application of PST to sales of cannabis in the province. That application will differ, depending on whether cannabis products are ...
MB - Waiver provided for storm-related late tax filings
Manitoba Finance has announced that businesses in the province which were affected by recent storm-related power outages can obtain a waiver of interest and penalty charges which would otherwise resul...
Manitoba Finance has announced that businesses in the province which were affected by recent storm-related power outages can obtain a waiver of interest and penalty charges which would otherwise resul...
MB - Provincial credit rating outlook revised
The Manitoba government has announced that Standard and Poor’s credit reporting agency has, in its most recent release, revised the province’s outlook from stable to positive. In changing that rat...
The Manitoba government has announced that Standard and Poor’s credit reporting agency has, in its most recent release, revised the province’s outlook from stable to positive. In changing that rat...
MB - Provincial minimum wage increased effective October 1
The provincial government has issued a reminder to Manitoba residents that the minimum wage is increased, effective as of October 1, 2019. As of that date, the general minimum wage increased from $11....
The provincial government has issued a reminder to Manitoba residents that the minimum wage is increased, effective as of October 1, 2019. As of that date, the general minimum wage increased from $11....
MB - Book Publishing Tax Credit extended for five years
Manitoba provides book publishers that incur eligible Manitoba labour costs with a refundable Book Publishing Tax Credit equal to 40% of those eligible labour costs. Such eligible labour costs include...
Manitoba provides book publishers that incur eligible Manitoba labour costs with a refundable Book Publishing Tax Credit equal to 40% of those eligible labour costs. Such eligible labour costs include...
MB - Province announces rent increase guideline for 2020
The provincial government has announced that percentage rent increase guideline which will take effect as of January 1, 2020 and apply during the 2020 calendar year will be 2.4%. The rent increase gui...
The provincial government has announced that percentage rent increase guideline which will take effect as of January 1, 2020 and apply during the 2020 calendar year will be 2.4%. The rent increase gui...
MB - Provincial minimum wage to increase October 1
Effective as of October 1, 2019, the Manitoba general minimum wage will increase from $11.35 per hour to $11.65 per hour. The general minimum wage is payable to most employees in the province, regardl...
Effective as of October 1, 2019, the Manitoba general minimum wage will increase from $11.35 per hour to $11.65 per hour. The general minimum wage is payable to most employees in the province, regardl...
MB - Interest Rates - 2019
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2019 are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2019 are as follows: ...
MB - Province issues updated guide on provincial tax registration requirements
The province of Manitoba imposes a number of taxes affecting businesses operating in the province, and each such tax imposes separate registration, filing and payment obligations. Manitoba Finance has...
The province of Manitoba imposes a number of taxes affecting businesses operating in the province, and each such tax imposes separate registration, filing and payment obligations. Manitoba Finance has...
MB - Updated bulletins issued as sales tax rate reduced
Effective as of July 1, 2019, the general retail sales tax rate imposed by the province was reduced from 8% to 7%. As a consequence of the change, Manitoba Finance has revised and re-issued a number o...
Effective as of July 1, 2019, the general retail sales tax rate imposed by the province was reduced from 8% to 7%. As a consequence of the change, Manitoba Finance has revised and re-issued a number o...
MB - Transitional rules for July 1 reduction of retail sales tax rate
Effective as of July 1, 2019, the general provincial retail sales tax rate will be reduced from 8% to 7%. The old rate of 8% will apply to purchases of taxable goods where such goods are purchased and...
Effective as of July 1, 2019, the general provincial retail sales tax rate will be reduced from 8% to 7%. The old rate of 8% will apply to purchases of taxable goods where such goods are purchased and...
MB - Small Business Venture Capital Tax Credit extended
The province offers a Small Business Venture Capital Tax Credit (SBVCTC), which provides a non-refundable provincial tax credit of up to 45% to individuals and corporations who acquire equity capital ...
The province offers a Small Business Venture Capital Tax Credit (SBVCTC), which provides a non-refundable provincial tax credit of up to 45% to individuals and corporations who acquire equity capital ...
MB - Cultural Industries Printing Tax Credit extended and expanded
The province of Manitoba provides printers with a 35% refundable Cultural Industries Printing Tax Credit on salary or wages paid to its employees who are residents of the province at year end and who ...
The province of Manitoba provides printers with a 35% refundable Cultural Industries Printing Tax Credit on salary or wages paid to its employees who are residents of the province at year end and who ...
MB - Provincial credit rating affirmed by DBRS ratings agency
The provincial government has announced that the international credit rating agency Dominion Bond Rating Service (DBRS) has confirmed Manitoba’s existing credit rating. In its May 2019 report, DBRS ...
The provincial government has announced that the international credit rating agency Dominion Bond Rating Service (DBRS) has confirmed Manitoba’s existing credit rating. In its May 2019 report, DBRS ...
MB - Province makes Film and Video Production Tax Credit permanent
The province of Manitoba has, since 1997, provided a Film and Video Production Tax Credit, which is based on eligible salaries paid to residents of the province and to qualifying non-residents, for wo...
The province of Manitoba has, since 1997, provided a Film and Video Production Tax Credit, which is based on eligible salaries paid to residents of the province and to qualifying non-residents, for wo...
MB - Province reduces Manufacturing Investment Tax Credit
The province of Manitoba provides a Manufacturing Investment Tax Credit, under which corporations can earn a 9% credit for eligible property acquired on or after April 12, 2017. In order to be eligibl...
The province of Manitoba provides a Manufacturing Investment Tax Credit, under which corporations can earn a 9% credit for eligible property acquired on or after April 12, 2017. In order to be eligibl...
MB - Province to require electronic tax filing and payment by businesses
The provincial government has announced that, effective as of 2020, Manitoba businesses will be required to file, remit, and pay fuel tax, tobacco tax, and health and post-secondary education (payroll...
The provincial government has announced that, effective as of 2020, Manitoba businesses will be required to file, remit, and pay fuel tax, tobacco tax, and health and post-secondary education (payroll...
MB - Provincial sales tax rates to be reduced effective July 1
As announced in the recent provincial Budget, Manitoba’s sales tax rate will be reduced, effective as of July 1, 2019. As of that date, the general sales tax rate will drop from 8% to 7%. Rates redu...
As announced in the recent provincial Budget, Manitoba’s sales tax rate will be reduced, effective as of July 1, 2019. As of that date, the general sales tax rate will drop from 8% to 7%. Rates redu...
MB - Province announces increase to minimum wage
The provincial government has announced that the provincial minimum wage will increase by 30 cents per hour, effective October 1, 2019. The change which is based on the provincial inflation rate of 2....
The provincial government has announced that the provincial minimum wage will increase by 30 cents per hour, effective October 1, 2019. The change which is based on the provincial inflation rate of 2....
MB - Province extends Film and Video Production tax credit
Since 1997, the province has provided a refundable tax credit for certain expenditures incurred with respect to qualifying film and video productions. That credit is based on eligible salaries paid to...
Since 1997, the province has provided a refundable tax credit for certain expenditures incurred with respect to qualifying film and video productions. That credit is based on eligible salaries paid to...
MB - Change in provincial sales tax rate July 1
In its 2019-20 Budget, the provincial government announced that the Manitoba general retail sales tax rate would be reduced, effective as of July 1, 2019, from 8% to 7%. Changes will also be made, as ...
In its 2019-20 Budget, the provincial government announced that the Manitoba general retail sales tax rate would be reduced, effective as of July 1, 2019, from 8% to 7%. Changes will also be made, as ...
MB - No provincial sales tax charges on federal carbon tax
The Manitoba government has announced that it will not be levying provincial sales tax on the federal government’s carbon tax on home heating fuels. That federal carbon tax is composed of a base amo...
The Manitoba government has announced that it will not be levying provincial sales tax on the federal government’s carbon tax on home heating fuels. That federal carbon tax is composed of a base amo...
MB - Prescribed areas for livestock tax deferral for 2018
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
MB - Province announces date for 2019-20 Budget
The provincial government has announced that Manitoba’s Budget for the 2019-20 fiscal year will be brought down on Thursday March 7, 2019. When the Budget is released, the Budget papers will be post...
The provincial government has announced that Manitoba’s Budget for the 2019-20 fiscal year will be brought down on Thursday March 7, 2019. When the Budget is released, the Budget papers will be post...
MB - Province renews film and video production tax credit program
Since 1997, the province of Manitoba has provided a refundable film and video production tax credit, based on qualifying amounts expended in relation to eligible film and videos produced in the provin...
Since 1997, the province of Manitoba has provided a refundable film and video production tax credit, based on qualifying amounts expended in relation to eligible film and videos produced in the provin...
MB - Interest Rates - 2019
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2019 is as f...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2019 is as f...
MB - CRA issues supplementary 2019 payroll deduction tables for Manitoba residents
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Manitoba during the 2019 tax year.The supplement, which can be found on the CRA website at...
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Manitoba during the 2019 tax year.The supplement, which can be found on the CRA website at...
MB - Reminder issued on consumer rights and gift card purchases
The provincial government has issued a reminder for consumers in the province of the rules which apply to the purchase and use of retailer gift cards. Those rules provide that purchasers cannot be cha...
The provincial government has issued a reminder for consumers in the province of the rules which apply to the purchase and use of retailer gift cards. Those rules provide that purchasers cannot be cha...
MB - Personal tax credit amounts for 2019
The province of Manitoba will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $9,626 Spouse or common law partner amount …...
The province of Manitoba will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $9,626 Spouse or common law partner amount …...
MB - Province issues information on filing and payment during postal strike
Manitoba Finance has issued information for taxpayers in the province who must file returns or make payments, particularly with respect to retail sales tax (RST), health and education levy (HE), and t...
Manitoba Finance has issued information for taxpayers in the province who must file returns or make payments, particularly with respect to retail sales tax (RST), health and education levy (HE), and t...
MB - Province announces pre-budget consultations
The Manitoba government has announced that consultations with respect to the province’s 2019-20 Budget have commenced. That budget will be brought down in the spring of 2019. There will be a series ...
The Manitoba government has announced that consultations with respect to the province’s 2019-20 Budget have commenced. That budget will be brought down in the spring of 2019. There will be a series ...
MB - Province sets rent increase guideline for 2019
The provincial government has announced that Manitoba’s rent increase guideline for 2019 has been set at 2.2%. The guideline, which is based on the Manitoba Consumer Price Index, applies to most ren...
The provincial government has announced that Manitoba’s rent increase guideline for 2019 has been set at 2.2%. The guideline, which is based on the Manitoba Consumer Price Index, applies to most ren...
MB - Updated bulletin issued on vendors and provincial retail sales tax
The province imposes an 8% retail sales tax on the sale of goods and some services in Manitoba, and its general guide to that tax for vendors in the province was recently updated and re-issued. The gu...
The province imposes an 8% retail sales tax on the sale of goods and some services in Manitoba, and its general guide to that tax for vendors in the province was recently updated and re-issued. The gu...
MB - Carbon tax implementation date deferred to December 1
The province has deferred, to December 1, 2018, the implementation date of the $25 per tonne carbon tax which was announced in this year’s Budget. The original implementation date was September 1, 2...
The province has deferred, to December 1, 2018, the implementation date of the $25 per tonne carbon tax which was announced in this year’s Budget. The original implementation date was September 1, 2...
MB - Minimum wage to increase effective October 1, 2018
As previously announced, Manitoba’s general minimum wage will be increased, effective as of October 1, 2018. As of that date, the provincial minimum wage will increase by 20 cents per hour, from $11...
As previously announced, Manitoba’s general minimum wage will be increased, effective as of October 1, 2018. As of that date, the provincial minimum wage will increase by 20 cents per hour, from $11...
MB - Provincial deficit reduction strategy ahead of schedule
The Manitoba Minister of Finance has announced that the province is now ahead of schedule with respect to its deficit reduction objectives. That announcement, which can be found on the provincial gove...
The Manitoba Minister of Finance has announced that the province is now ahead of schedule with respect to its deficit reduction objectives. That announcement, which can be found on the provincial gove...
MB - Interest Rates - 2018
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2018 is are as follows: ...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2018 is are as follows: ...
MB - Rental Housing Construction Tax Credit to be eliminated
The province of Manitoba offers a tax credit to corporations which construct five or more new residential rental units in the province. Certain costs incurred in respect of the acquisition and convers...
The province of Manitoba offers a tax credit to corporations which construct five or more new residential rental units in the province. Certain costs incurred in respect of the acquisition and convers...
MB - Tax credit available for employers providing child care spaces
As announced in this year’s Budget, the province has introduced a new tax credit for private corporations that create new child care centres. The total credit claimable is equal to $10,000 per new i...
As announced in this year’s Budget, the province has introduced a new tax credit for private corporations that create new child care centres. The total credit claimable is equal to $10,000 per new i...
MB - Caregiver tax credit application process simplified
The province has announced that, effective as of this year’s Budget date of March 12, 2018, the process by which an application is made for the provincial Primary Caregiver Tax Credit has been strea...
The province has announced that, effective as of this year’s Budget date of March 12, 2018, the process by which an application is made for the provincial Primary Caregiver Tax Credit has been strea...
MB - Changes made to Small Business Venture Capital Tax Credit
The province of Manitoba provides a Small Business Venture Capital Tax Credit, which enables investors in eligible businesses to receive a 45% non-refundable credit against provincial income tax other...
The province of Manitoba provides a Small Business Venture Capital Tax Credit, which enables investors in eligible businesses to receive a 45% non-refundable credit against provincial income tax other...
MB - Information Bulletin issued on upcoming carbon tax implementation
Effective September 1, 2018, a carbon tax equal to $25 tax per tonne of greenhouse gas emissions will apply to gas, liquid, and solid products used in Manitoba. Manitoba Finance has issued an Informat...
Effective September 1, 2018, a carbon tax equal to $25 tax per tonne of greenhouse gas emissions will apply to gas, liquid, and solid products used in Manitoba. Manitoba Finance has issued an Informat...
MB - Province to eliminate labour-sponsored funds tax credit
Current provincial tax rules provide taxpayers who invest in a registered labour-sponsored venture capital corporation any time during the taxation year or within 60 days after the end of that year wi...
Current provincial tax rules provide taxpayers who invest in a registered labour-sponsored venture capital corporation any time during the taxation year or within 60 days after the end of that year wi...
MB - Increase to provincial minimum wage announced
The Manitoba government has announced that the general minimum wage payable in the province will increase by 20 cents per hour, effective as of October 1, 2018. The increase will bring the minimum wag...
The Manitoba government has announced that the general minimum wage payable in the province will increase by 20 cents per hour, effective as of October 1, 2018. The increase will bring the minimum wag...
MB - Province announces minimum wage increase for October 2018
The province of Manitoba has announced that the provincial minimum wage will be increased, effective as of October 1, 2018. As of that date, the minimum wage will increase by 20 cents per hour, from $...
The province of Manitoba has announced that the provincial minimum wage will be increased, effective as of October 1, 2018. As of that date, the minimum wage will increase by 20 cents per hour, from $...
MB - Province to increase small business limit
As part of the 2018-19 Manitoba Budget, it was announced that the provincial small business limit would be increased, effective as of January 1, 2019. As of that date, the small business limit will in...
As part of the 2018-19 Manitoba Budget, it was announced that the provincial small business limit would be increased, effective as of January 1, 2019. As of that date, the small business limit will in...
MB - Budget includes details of upcoming provincial carbon tax
This year’s provincial Budget included details of the provincial carbon tax that will be implemented effective September 1, 2018. As of that date, a $25 tax per tonne of greenhouse gas emissions wil...
This year’s provincial Budget included details of the provincial carbon tax that will be implemented effective September 1, 2018. As of that date, a $25 tax per tonne of greenhouse gas emissions wil...
MB - Budget announcements include increase in small business limit
The 2018-19 provincial Budget brought down on March 12, 2018 included the announcement of an increase in the provincial small business limit. Qualifying corporate income below that small business limi...
The 2018-19 provincial Budget brought down on March 12, 2018 included the announcement of an increase in the provincial small business limit. Qualifying corporate income below that small business limi...
MB - Personal tax credit amounts for 2018
The province of Manitoba will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $9,382 Spouse or equivalent to spouse amount …...
The province of Manitoba will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $9,382 Spouse or equivalent to spouse amount …...
MB - Province announces 2018-19 Budget date
The Manitoba Finance Minister has announced that the 2018-19 provincial Budget will be presented on Monday, March 12, 2018. Once the Budget is released, Budget papers will be posted on the Manitoba Fi...
The Manitoba Finance Minister has announced that the 2018-19 provincial Budget will be presented on Monday, March 12, 2018. Once the Budget is released, Budget papers will be posted on the Manitoba Fi...
MB - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Manitoba will levy personal income tax at the following individual income tax rates and brackets. 8% on taxable income between $9,382 and $31,843; 75% on taxa...
For the 2018 tax year, the province of Manitoba will levy personal income tax at the following individual income tax rates and brackets. 8% on taxable income between $9,382 and $31,843; 75% on taxa...
MB - Interest Rates - 2018
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2018 is as f...
The province of Manitoba levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2018 is as f...
MB - CRA releases 2017 T1 tax return form for Manitoba residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Manitoba at the end of that year. The T1 form package (...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Manitoba at the end of that year. The T1 form package (...
MB - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Manitoba employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension ...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Manitoba employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension ...
NB - Two-month HST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
NB - Provinces releases fiscal update for second quarter of 2024-25
The New Brunswick government has issued its Fiscal Update for the second quarter (July 1 - September 30) of the province’s 2024-25 fiscal year. Projections issued in the Update indicate that New Bru...
The New Brunswick government has issued its Fiscal Update for the second quarter (July 1 - September 30) of the province’s 2024-25 fiscal year. Projections issued in the Update indicate that New Bru...
NB - December 31 deadline for applications for low-income seniors’ benefit
The New Brunswick government provides a benefit of $600 annually for lower-income seniors living in the province. Seniors who are eligible to receive benefits under similar federal programs, including...
The New Brunswick government provides a benefit of $600 annually for lower-income seniors living in the province. Seniors who are eligible to receive benefits under similar federal programs, including...
NB - Province announces financial results for 2023-24 fiscal year
The government of New Brunswick has released the final revenue, expenditure, and deficit figures for the province’s 2023-24 fiscal year, which ended on March 31, 2024. The provincial government was ...
The government of New Brunswick has released the final revenue, expenditure, and deficit figures for the province’s 2023-24 fiscal year, which ended on March 31, 2024. The provincial government was ...
NB - Province provides refundable seniors’ home renovation tax credit
New Brunswick provides seniors in the province with a refundable tax credit to help offset the cost of making eligible home renovations. To be eligible, such renovations must be done for the purpose o...
New Brunswick provides seniors in the province with a refundable tax credit to help offset the cost of making eligible home renovations. To be eligible, such renovations must be done for the purpose o...
NB - Property tax relief available through Residential Property Tax Credit
Owners of residential property in the province may claim a Residential Property Tax Credit which eliminates, in whole or in part, the provincial portion of property taxes otherwise payable on the prop...
Owners of residential property in the province may claim a Residential Property Tax Credit which eliminates, in whole or in part, the provincial portion of property taxes otherwise payable on the prop...
NB - June 30 deadline for applications for New Brunswick Workers’ Benefit
New Brunswick provides eligible working residents of the province with a one-time benefit of $300. In order to receive the benefit, an individual must be 19 years of age or older at the end of 2023, h...
New Brunswick provides eligible working residents of the province with a one-time benefit of $300. In order to receive the benefit, an individual must be 19 years of age or older at the end of 2023, h...
NB - Province to provide tax credit for volunteer firefighters and search and rescue volunteers
In its budget for the 2024-25 fiscal year, the province announced that, beginning with the 2024 taxation year, a new non-refundable tax credit will be provided to volunteer firefighters and search and...
In its budget for the 2024-25 fiscal year, the province announced that, beginning with the 2024 taxation year, a new non-refundable tax credit will be provided to volunteer firefighters and search and...
NB - Increase in provincial minimum wage as of April 1
Effective from April 1, 2024, the general minimum wage payable in New Brunswick increased by $0.55, from $14.75 to $15.30 per hour. The increase is based on changes to the province’s Consumer Price ...
Effective from April 1, 2024, the general minimum wage payable in New Brunswick increased by $0.55, from $14.75 to $15.30 per hour. The increase is based on changes to the province’s Consumer Price ...
NB - Personal tax credit amounts for 2024
The province of New Brunswick will provide the following personal tax credit amounts for 2024: Basic personal amount …………………………… $13,044 Spouse or equivalent to spouse amount ...
The province of New Brunswick will provide the following personal tax credit amounts for 2024: Basic personal amount …………………………… $13,044 Spouse or equivalent to spouse amount ...
NB - Province announces new affordability measure for low-income workers
In the 2024 State of the Province address released on January 25, the New Brunswick government announced that a new affordability measure would be provided to help support lower-income workers in the ...
In the 2024 State of the Province address released on January 25, the New Brunswick government announced that a new affordability measure would be provided to help support lower-income workers in the ...
NB - December 31 deadline for applications for Low-Income Seniors Benefit
The province provides a $400 annual benefit for residents of New Brunswick who are aged 60 and older and who have received specified low-income benefits under the federal Old Age Security program. In ...
The province provides a $400 annual benefit for residents of New Brunswick who are aged 60 and older and who have received specified low-income benefits under the federal Old Age Security program. In ...
NB - Temporary property tax increase relief program extended through 2024
During the 2022 and 2023 taxation years, New Brunswick offers a temporary property tax relief program for non-residential properties and apartment buildings with four units or more, with annual assess...
During the 2022 and 2023 taxation years, New Brunswick offers a temporary property tax relief program for non-residential properties and apartment buildings with four units or more, with annual assess...
NB - Province announces second quarter fiscal results for 2023-24
The New Brunswick government recently released revenue, expenditure and projected deficit figures as of the second quarter (July to September) of its 2023-24 fiscal year. The full-year surplus is now ...
The New Brunswick government recently released revenue, expenditure and projected deficit figures as of the second quarter (July to September) of its 2023-24 fiscal year. The full-year surplus is now ...
NB - Province releases financial results for 2022-23 fiscal year
The New Brunswick government has released its Public Accounts for the 2022-23 fiscal year ended March 31, 2023, and those Accounts show that the province ended the year with a surplus of $1 billion. T...
The New Brunswick government has released its Public Accounts for the 2022-23 fiscal year ended March 31, 2023, and those Accounts show that the province ended the year with a surplus of $1 billion. T...
NB - Province releases first quarter fiscal report for 2023-24
The fiscal report for the first quarter (April to June 2023) of the province’s 2023-24 fiscal year shows an anticipated full-year surplus of $199.6 million. (The surplus figure projected in the 2023...
The fiscal report for the first quarter (April to June 2023) of the province’s 2023-24 fiscal year shows an anticipated full-year surplus of $199.6 million. (The surplus figure projected in the 2023...
NB - Partial property tax deferral available for seniors
The province of New Brunswick allows qualifying homeowners to defer payment of a portion of municipal property taxes otherwise owed. In order to qualify for the deferral, it is necessary that one of t...
The province of New Brunswick allows qualifying homeowners to defer payment of a portion of municipal property taxes otherwise owed. In order to qualify for the deferral, it is necessary that one of t...
NB - Disaster financial relief now available for provincial residents
The government of New Brunswick has announced that disaster financial relief will be available for residents of the province who suffered property damage related to the heavy rainfall on June 29 in th...
The government of New Brunswick has announced that disaster financial relief will be available for residents of the province who suffered property damage related to the heavy rainfall on June 29 in th...
NB - New Brunswick residents to receive climate action incentive payments in 2023-24
Eligible residents of New Brunswick will begin receiving the federal climate action incentive (CAI) payments, effective as of July 1, 2023. As this is the first year during which the CAI will be paid ...
Eligible residents of New Brunswick will begin receiving the federal climate action incentive (CAI) payments, effective as of July 1, 2023. As this is the first year during which the CAI will be paid ...
NB - Provincial minimum wage increased as of April 1, 2023
As of April 1, 2023, the minimum wage payable in New Brunswick was increased by $1.00 per hour, from $13.75 to $14.75 per hour. Subsequent increases in the general minimum wage will be tied to changes...
As of April 1, 2023, the minimum wage payable in New Brunswick was increased by $1.00 per hour, from $13.75 to $14.75 per hour. Subsequent increases in the general minimum wage will be tied to changes...
NB - Applications now available for 2023 Low Income Seniors Benefit
New Brunswick provides eligible seniors resident in the province with an annual Low Income Seniors Benefit. To qualify for the 2023 annual benefit of $400, an individual must have been a resident of N...
New Brunswick provides eligible seniors resident in the province with an annual Low Income Seniors Benefit. To qualify for the 2023 annual benefit of $400, an individual must have been a resident of N...
NB - 2023-24 budget to be announced on March 21
The New Brunswick government has announced that the provincial budget for the upcoming 2023-24 fiscal year will be released on Tuesday March 21, 2023. Once the budget measures are announced, the full ...
The New Brunswick government has announced that the provincial budget for the upcoming 2023-24 fiscal year will be released on Tuesday March 21, 2023. Once the budget measures are announced, the full ...
NB - Province conducting budget consultation process for 2023-24 budget
New Brunswick residents who wish to participate in the current consultation process for the province’s 2023-24 budget must do so before the end of February. Those who wish to participate in the proc...
New Brunswick residents who wish to participate in the current consultation process for the province’s 2023-24 budget must do so before the end of February. Those who wish to participate in the proc...
NB - Individual income tax rates and brackets for 2023
During the 2023 taxation year the province of New Brunswick will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 9....
During the 2023 taxation year the province of New Brunswick will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 9....
NB - Personal tax credit amounts for 2023
The province of New Brunswick will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $12,458 Spouse or equivalent to spouse amo...
The province of New Brunswick will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $12,458 Spouse or equivalent to spouse amo...
NB - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by New Brunswick employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which New Bru...
The Canada Revenue Agency has released the payroll deduction formulas to be used by New Brunswick employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which New Bru...
NB - Second quarter results for 2022-23 show increased surplus
The provincial government has released its financial results for the second quarter (July to September 2022) of its 2022-23 fiscal year, and the results show an improved financial picture. Specificall...
The provincial government has released its financial results for the second quarter (July to September 2022) of its 2022-23 fiscal year, and the results show an improved financial picture. Specificall...
NB - Province reduces personal income tax rates for 2023
The New Brunswick government recently announced that provincial personal income tax rates would be reduced beginning January 1, 2023. The following provincial personal income tax rate reductions will ...
The New Brunswick government recently announced that provincial personal income tax rates would be reduced beginning January 1, 2023. The following provincial personal income tax rate reductions will ...
NB - Province provides details of disaster financial relief program
The New Brunswick government has announced details of the financial assistance to be provided to individuals, small businesses, and non-profit organizations affected by hurricane Fiona. Maximum claim ...
The New Brunswick government has announced details of the financial assistance to be provided to individuals, small businesses, and non-profit organizations affected by hurricane Fiona. Maximum claim ...
NB - First-quarter results show increased surplus for 2022-23
The New Brunswick government has released the revenue and expenditure figures for the first quarter of the province’s 2022-23 fiscal year (April 1 to June 30, 2022). The first quarter figures projec...
The New Brunswick government has released the revenue and expenditure figures for the first quarter of the province’s 2022-23 fiscal year (April 1 to June 30, 2022). The first quarter figures projec...
NB - Provincial minimum wage to increase effective October 1, 2022
Effective as of October 1, 2022, the provincial general minimum wage will increase for the second time this year. As of October 1, the general minimum wage will rise from $12.75 per hour to $13.75 per...
Effective as of October 1, 2022, the provincial general minimum wage will increase for the second time this year. As of October 1, the general minimum wage will rise from $12.75 per hour to $13.75 per...
NB - Property tax credit available for New Brunswick homeowners
The province of New Brunswick provides homeowners in the province with a Residential Property Tax Credit which reduces the provincial portion of property taxes otherwise payable on a principal residen...
The province of New Brunswick provides homeowners in the province with a Residential Property Tax Credit which reduces the provincial portion of property taxes otherwise payable on a principal residen...
NB - Changes to source deductions to take effect July 1
In March of this year, the provincial government announced that the basic personal amount for New Brunswick residents would be increased from $10,817 to $11,720 and that such change would be retroacti...
In March of this year, the provincial government announced that the basic personal amount for New Brunswick residents would be increased from $10,817 to $11,720 and that such change would be retroacti...
NB - Property tax relief program introduced for businesses and landlords
The provincial government has announced that, in light of rising property tax assessments, a property tax relief program will be put in place for the 2022 and 2023 years. Relief will be provided to ow...
The provincial government has announced that, in light of rising property tax assessments, a property tax relief program will be put in place for the 2022 and 2023 years. Relief will be provided to ow...
NB - Applications now available for low-income seniors’ benefit
The province of New Brunswick provides low-income seniors with an annual benefit of $400. The benefit is generally available to a person who was resident in the province at the end of 2021 and who rec...
The province of New Brunswick provides low-income seniors with an annual benefit of $400. The benefit is generally available to a person who was resident in the province at the end of 2021 and who rec...
NB - Property tax reductions to be phased in over three years
In the 2022-23 provincial budget released earlier this year, the government of New Brunswick announced that reductions in property tax rates would be phased in over a three-year period. The changes, w...
In the 2022-23 provincial budget released earlier this year, the government of New Brunswick announced that reductions in property tax rates would be phased in over a three-year period. The changes, w...
NB - Province announces budget for 2022-23 fiscal year
On March 22, 2022, the New Brunswick government announced its budget for the upcoming 2022–23 (April 1, 2022 to March 31, 2023) fiscal year. There were no changes to personal or corporate income tax...
On March 22, 2022, the New Brunswick government announced its budget for the upcoming 2022–23 (April 1, 2022 to March 31, 2023) fiscal year. There were no changes to personal or corporate income tax...
NB - 2022-23 budget to be brought down on March 22
The New Brunswick budget for the upcoming (April 1, 2022 – March 31, 2023) 2022–23 fiscal year will be brought down by the provincial Minister of Finance on Tuesday March 22, 2022. Once the budget...
The New Brunswick budget for the upcoming (April 1, 2022 – March 31, 2023) 2022–23 fiscal year will be brought down by the provincial Minister of Finance on Tuesday March 22, 2022. Once the budget...
NB - Provincial minimum wage to increase April 1, 2022
Effective as of April 1, 2022, the general minimum wage payable in New Brunswick will increase from $11.75 to $12.75 per hour. The hourly general minimum wage must be paid to all employees who are pai...
Effective as of April 1, 2022, the general minimum wage payable in New Brunswick will increase from $11.75 to $12.75 per hour. The hourly general minimum wage must be paid to all employees who are pai...
NB - 2021-22 Third Quarter results include unexpected surplus
The provincial government recently released the Third Quarter results for the 2021-22 fiscal year, and those results include an unexpected surplus. Specifically, the figures contained in the Third Qua...
The provincial government recently released the Third Quarter results for the 2021-22 fiscal year, and those results include an unexpected surplus. Specifically, the figures contained in the Third Qua...
NB - Province launches consultation process for 2022-23 Budget
The government of New Brunswick has initiated the public consultation process leading to the release of its Budget for the upcoming 2022-23 fiscal year. The province has posted a pre-Budget consultati...
The government of New Brunswick has initiated the public consultation process leading to the release of its Budget for the upcoming 2022-23 fiscal year. The province has posted a pre-Budget consultati...
NB - Province announces minimum wage increases for 2022
The New Brunswick government has announced that the provincial general minimum wage will increase by $2 per hour in 2022. The increase will take place in two stages, with the minimum wage increasing b...
The New Brunswick government has announced that the provincial general minimum wage will increase by $2 per hour in 2022. The increase will take place in two stages, with the minimum wage increasing b...
NB - Second Quarter Fiscal and Economic Update shows province in surplus position
The Second Quarter Fiscal and Economic Update issued recently by the government of New Brunswick shows that the province has moved from a deficit to a surplus position for the 2021-22 fiscal year. Spe...
The Second Quarter Fiscal and Economic Update issued recently by the government of New Brunswick shows that the province has moved from a deficit to a surplus position for the 2021-22 fiscal year. Spe...
NB - Province releases final fiscal results for 2020-21
The government of New Brunswick has released the audited financial statements for the province’s 2020-21 fiscal year which ended on March 31, 2021. Overall, the fiscal results were positive, as the ...
The government of New Brunswick has released the audited financial statements for the province’s 2020-21 fiscal year which ended on March 31, 2021. Overall, the fiscal results were positive, as the ...
NB - Property tax increase deferral program for seniors
The province provides a program under which eligible seniors may defer payment of increases in their property taxes, with the total unpaid tax deferred (plus interest) being paid to the province when ...
The province provides a program under which eligible seniors may defer payment of increases in their property taxes, with the total unpaid tax deferred (plus interest) being paid to the province when ...
NB - June 30 deadline for Home Energy Assistance Program applications
Eligible residents of New Brunswick may receive a one-time payment of $100 to help with home energy costs, through the province’s Home Energy Assistance Program. To qualify for the program this year...
Eligible residents of New Brunswick may receive a one-time payment of $100 to help with home energy costs, through the province’s Home Energy Assistance Program. To qualify for the program this year...
NB - Provincial individual income tax rate to be reduced
The New Brunswick government has announced that the provincial income tax rate imposed on the first bracket of income (up to $43,835) will be reduced. The first bracket provincial income tax rate will...
The New Brunswick government has announced that the provincial income tax rate imposed on the first bracket of income (up to $43,835) will be reduced. The first bracket provincial income tax rate will...
NB - Provincial minimum wage increases effective April 1, 2021
Effective as of April 1, 2021, the general minimum wage payable in the province of New Brunswick increased to $11.75 per hour. As of the same date, the minimum wage rate payable to workers in the huma...
Effective as of April 1, 2021, the general minimum wage payable in the province of New Brunswick increased to $11.75 per hour. As of the same date, the minimum wage rate payable to workers in the huma...
NB - Minimum wage to increase effective April 1, 2021
Effective as of April 1, 2021, the general minimum wage payable in New Brunswick will increase by 5 cents, to $11.75 per hour. As of the same date, the minimum overtime rate payable will be $17.63 per...
Effective as of April 1, 2021, the general minimum wage payable in New Brunswick will increase by 5 cents, to $11.75 per hour. As of the same date, the minimum overtime rate payable will be $17.63 per...
NB - Province issues financial figures for third quarter of 2020-21
The New Brunswick government has released third-quarter financial results for the 2020-21 fiscal year. Those results show projected deficit for the year of $12.7 million, as compared to the budgeted s...
The New Brunswick government has released third-quarter financial results for the 2020-21 fiscal year. Those results show projected deficit for the year of $12.7 million, as compared to the budgeted s...
NB - Personal tax credit amounts for 2021
The province of New Brunswick will provide the following personal tax amounts for 2021. Basic personal amount ………………………………… $10,564 Spouse or common law partner amount ……...
The province of New Brunswick will provide the following personal tax amounts for 2021. Basic personal amount ………………………………… $10,564 Spouse or common law partner amount ……...
NB - Individual income tax rates and brackets for 2021
During the 2021 taxation year the province of New Brunswick will levy individual income tax using the following income brackets and tax rate. Tax Rate ...
During the 2021 taxation year the province of New Brunswick will levy individual income tax using the following income brackets and tax rate. Tax Rate ...
NB - Province launches 2021-22 Budget consultation process
New Brunswick has started the consultation process leading to the release of the next provincial budget, which will be brought down in March 2021. That consultation process, which will run until Febru...
New Brunswick has started the consultation process leading to the release of the next provincial budget, which will be brought down in March 2021. That consultation process, which will run until Febru...
NB - Province releases second quarter financial results
The New Brunswick government has released its financial results for the second quarter (July-September) of the 2020-21 fiscal year. Those results show a projected deficit for the full fiscal year of $...
The New Brunswick government has released its financial results for the second quarter (July-September) of the 2020-21 fiscal year. Those results show a projected deficit for the full fiscal year of $...
NB - Province posts higher than expected surplus for 2019-20
The New Brunswick government has released the audited financial statements for the 2019-20 fiscal year, and those statements include good financial news. The province ended that fiscal year on March 3...
The New Brunswick government has released the audited financial statements for the 2019-20 fiscal year, and those statements include good financial news. The province ended that fiscal year on March 3...
NB - Province provides tourism incentive rebate program
The province of New Brunswick will provide a rebate on eligible costs incurred by provincial residents who vacation in the province this summer, between July 15 and September 30. That program will pro...
The province of New Brunswick will provide a rebate on eligible costs incurred by provincial residents who vacation in the province this summer, between July 15 and September 30. That program will pro...
NB - Province issues licence renewal reminder to fuel and tobacco vendors
Earlier this year, the provincial government extended current licences held by vendors of fuel products and tobacco to be valid until June 30, 2020. New Brunswick recently issued two notices to such v...
Earlier this year, the provincial government extended current licences held by vendors of fuel products and tobacco to be valid until June 30, 2020. New Brunswick recently issued two notices to such v...
NB - Property tax reduction measures deferred
In this year’s Budget, the province had announced phased-in property tax reductions on non-owner occupied residential properties and non-residential properties, as a first step in making the New Bru...
In this year’s Budget, the province had announced phased-in property tax reductions on non-owner occupied residential properties and non-residential properties, as a first step in making the New Bru...
NB - Fiscal update projects deficit for 2020-21
In a Fiscal and Economic Update brought down on May 21, the provincial Minister of Finance announced that the province would be in a deficit position for the current (2020-21) fiscal year. Updated pro...
In a Fiscal and Economic Update brought down on May 21, the provincial Minister of Finance announced that the province would be in a deficit position for the current (2020-21) fiscal year. Updated pro...
NB - Application for Low-Income Seniors Benefit available on April 1
The province provides New Brunswick seniors who are eligible for the federal Guaranteed Income Supplement with an annual benefit of $400. This year, application forms will not be available at Service ...
The province provides New Brunswick seniors who are eligible for the federal Guaranteed Income Supplement with an annual benefit of $400. This year, application forms will not be available at Service ...
NB - Provincial gas and fuel taxes to be reduced
In its 2020-21 the provincial government announced that, as part of the province’s carbon plan, New Brunswick’s gasoline and motive fuel tax rates would be reduced, effective as of April 1, 2020. ...
In its 2020-21 the provincial government announced that, as part of the province’s carbon plan, New Brunswick’s gasoline and motive fuel tax rates would be reduced, effective as of April 1, 2020. ...
NB - Province projects budget surplus for 2020-21
In its Budget for the upcoming (2020-21) fiscal year, the province projected a surplus of $92.4 million. That surplus is the fourth consecutive surplus recorded by the province. The Budget papers indi...
In its Budget for the upcoming (2020-21) fiscal year, the province projected a surplus of $92.4 million. That surplus is the fourth consecutive surplus recorded by the province. The Budget papers indi...
NB - 2020-21 Budget date announced
The New Brunswick Minister of Finance has announced that the province’s Budget for the 2020-21 fiscal year will be brought down on Tuesday, March 10, 2020. The announcement of the Budget date is ava...
The New Brunswick Minister of Finance has announced that the province’s Budget for the 2020-21 fiscal year will be brought down on Tuesday, March 10, 2020. The announcement of the Budget date is ava...
NB - 2019 tax return package for New Brunswick residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of New Brunswick as of December 31, 2019. That return and guide can...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of New Brunswick as of December 31, 2019. That return and guide can...
NB - Applications available for 2020 Home Energy Assistance Program
The provincial government has announced that applications are now available for the 2020 Home Energy Assistance Program. Under that program, eligible residents of the province can receive a one-time p...
The provincial government has announced that applications are now available for the 2020 Home Energy Assistance Program. Under that program, eligible residents of the province can receive a one-time p...
NB - Province posts financial results for second quarter of 2019-20
The province has released its revenue and expenditures figures for the second quarter (July 1 – September 30) of its 2019-20 fiscal year. Those figures show that the province is on track to post a s...
The province has released its revenue and expenditures figures for the second quarter (July 1 – September 30) of its 2019-20 fiscal year. Those figures show that the province is on track to post a s...
NB - August 30th deadline for Disaster Financial Assistance applications
Earlier this year, the provincial government announced the details of a Disaster Assistance Program for individuals and businesses affected by this spring’s floods. Under that program, assistance is...
Earlier this year, the provincial government announced the details of a Disaster Assistance Program for individuals and businesses affected by this spring’s floods. Under that program, assistance is...
NB - Changes to post-secondary student assistance programs for 2019-20
Post-secondary students in New Brunswick will be affected by a number of changes to the province’s assistance programs for such students. Those changes are effective with the start of the upcoming a...
Post-secondary students in New Brunswick will be affected by a number of changes to the province’s assistance programs for such students. Those changes are effective with the start of the upcoming a...
NB - June 30 deadline for Home Energy Assistance program applications
The province of New Brunswick provides eligible residents with an annual payment of $100 to help offset the cost of home heating. In order to qualify for the program, individuals must have filed a New...
The province of New Brunswick provides eligible residents with an annual payment of $100 to help offset the cost of home heating. In order to qualify for the program, individuals must have filed a New...
NB - Application for flood relief disaster payments available now
The provincial government has announced the launch of a Disaster Financial Assistance program to help individuals, small businesses, and municipalities with costs resulting from this year’s floods. ...
The provincial government has announced the launch of a Disaster Financial Assistance program to help individuals, small businesses, and municipalities with costs resulting from this year’s floods. ...
NB - Province reinstates post-secondary tuition tax credit
The province of New Brunswick formerly provided post-secondary students with a non-refundable tuition tax credit, but that credit had been eliminated. In this year’s Budget, the province announced ...
The province of New Brunswick formerly provided post-secondary students with a non-refundable tuition tax credit, but that credit had been eliminated. In this year’s Budget, the province announced ...
NB - Province announces balanced Budget for 2019-20
The 2019-20 provincial Budget brought down on March 19 indicated that, for the upcoming fiscal year, New Brunswick will post a surplus of $23 million on overall spending of $9.823 billion. Revenues fo...
The 2019-20 provincial Budget brought down on March 19 indicated that, for the upcoming fiscal year, New Brunswick will post a surplus of $23 million on overall spending of $9.823 billion. Revenues fo...
NB - Provincial minimum wage to increase April 1
Effective as of April 1, 2019, the provincial general minimum wage will increase from $11.25 to $11.50 hour. In addition to the general minimum wage rate, special minimum wage rates are provided for c...
Effective as of April 1, 2019, the provincial general minimum wage will increase from $11.25 to $11.50 hour. In addition to the general minimum wage rate, special minimum wage rates are provided for c...
NB - Province announces 2019-20 Budget date
The province has announced that its 2019-20 Budget will be brought down on Tuesday March 19, 2019. Once the Budget is released, the Budget Papers will be posted on the New Brunswick Finance website at...
The province has announced that its 2019-20 Budget will be brought down on Tuesday March 19, 2019. Once the Budget is released, the Budget Papers will be posted on the New Brunswick Finance website at...
NB - Third quarter update shows surplus for 2018-19 fiscal year
The provincial government has released its Third Quarter Update for the 2018-19 fiscal year, which shows that the province has moved from a deficit to a surplus position. The Budget for 2018-19 projec...
The provincial government has released its Third Quarter Update for the 2018-19 fiscal year, which shows that the province has moved from a deficit to a surplus position. The Budget for 2018-19 projec...
NB - Consultation process for 2019-20 provincial Budget launched
The provincial government has announced the start of the public consultation process for New Brunswick’s 2019-20 Budget. No budget date has yet been announced. That consultation process, which began...
The provincial government has announced the start of the public consultation process for New Brunswick’s 2019-20 Budget. No budget date has yet been announced. That consultation process, which began...
NB - Applications available for 2019 Home Energy Benefit
New Brunswick provides eligible residents of the province, through the Home Energy Assistance Program, with a single $100 annual payment to help offset home energy costs. In order to qualify for the f...
New Brunswick provides eligible residents of the province, through the Home Energy Assistance Program, with a single $100 annual payment to help offset home energy costs. In order to qualify for the f...
NB - Second quarter fiscal update released
The provincial government has released the province’s fiscal data for the second quarter of the 2018-19 fiscal year. That data indicates that New Brunswick will run a deficit of $131.4 million dolla...
The provincial government has released the province’s fiscal data for the second quarter of the 2018-19 fiscal year. That data indicates that New Brunswick will run a deficit of $131.4 million dolla...
NB - Personal tax credit amounts for 2019
The province of New Brunswick will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $10,264 Spouse or equivalent to spouse am...
The province of New Brunswick will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $10,264 Spouse or equivalent to spouse am...
NB - Province announces first quarter fiscal results for 2018-19
The provincial Minister of Finance has announced the first quarter results achieved by the province for the 2018-19 fiscal year. Those figures project a deficit of $187.4 million for the 2018-19 fisca...
The provincial Minister of Finance has announced the first quarter results achieved by the province for the 2018-19 fiscal year. Those figures project a deficit of $187.4 million for the 2018-19 fisca...
NB - Online filing of IFTA Quarterly returns now available
Starting with returns for the second quarter of 2018, all International Fuel Tax Agreement (IFTA) licensees will now be able to submit their quarterly returns online. Licensees who opt for the new onl...
Starting with returns for the second quarter of 2018, all International Fuel Tax Agreement (IFTA) licensees will now be able to submit their quarterly returns online. Licensees who opt for the new onl...
NB - Online applications for seniors’ benefit now available
New Brunswick provides lower income seniors who are resident in the province on the last day of the year with a $400 annual benefit. In order to be eligible for the benefit, residents must also have r...
New Brunswick provides lower income seniors who are resident in the province on the last day of the year with a $400 annual benefit. In order to be eligible for the benefit, residents must also have r...
NB - June 30th deadline for Home Energy Assistance Program applications
New Brunswick provides eligible residents of the province with a single annual payment of $100 to help offset residential energy costs. This year, the benefit is provided to families which had income ...
New Brunswick provides eligible residents of the province with a single annual payment of $100 to help offset residential energy costs. This year, the benefit is provided to families which had income ...
NB - Province increases maximum payment under Disaster Financial Assistance Program
The provincial government has announced that it is increasing the amount which New Brunswick residents can receive through the province’s Disaster Financial Assistance Program to remove flood debris...
The provincial government has announced that it is increasing the amount which New Brunswick residents can receive through the province’s Disaster Financial Assistance Program to remove flood debris...
NB - Province establishes Disaster Relief Assistance Program for flood damages
The provincial government has announced the creation of a Disaster Relief Assistance Program to assist New Brunswick residents with the repair of property damage caused by this spring’s floods. The ...
The provincial government has announced the creation of a Disaster Relief Assistance Program to assist New Brunswick residents with the repair of property damage caused by this spring’s floods. The ...
NB - Applications available for low-income seniors’ benefit
The New Brunswick government provides seniors who were residents of the province at the end of 2017 and who were eligible during that year for federal low-income benefits, including the Guaranteed Inc...
The New Brunswick government provides seniors who were residents of the province at the end of 2017 and who were eligible during that year for federal low-income benefits, including the Guaranteed Inc...
NB - Small business income tax rate reduced as of April 1
Effective as of April 1, 2018, the provincial small business income tax rate was reduced by one-half percentage point, to 2.5%. That rate is payable on qualifying income of a Canadian-controlled priva...
Effective as of April 1, 2018, the provincial small business income tax rate was reduced by one-half percentage point, to 2.5%. That rate is payable on qualifying income of a Canadian-controlled priva...
NB - Minimum wage increase effective April 1, 2018
Effective as of April 1, 2018, the provincial minimum wage was increased by 25 cents, from $11 to $11.25 per hour. The increase applies to all workers in the province who are compensated by salary, co...
Effective as of April 1, 2018, the provincial minimum wage was increased by 25 cents, from $11 to $11.25 per hour. The increase applies to all workers in the province who are compensated by salary, co...
NB - Personal tax credit amounts for 2018
The province of New Brunswick will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,043 Spouse or equivalent to spouse am...
The province of New Brunswick will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,043 Spouse or equivalent to spouse am...
NB - Province to reduce small business income tax rate
In the 2018-19 provincial Budget, which was announced on January 30, 2018, the provincial Minister of Finance indicated that the New Brunswick small business income tax rate would be reduced, effectiv...
In the 2018-19 provincial Budget, which was announced on January 30, 2018, the provincial Minister of Finance indicated that the New Brunswick small business income tax rate would be reduced, effectiv...
NB - CRA releases 2017 T1 tax return form for New Brunswick residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of New Brunswick at the end of that year. The T1 form pack...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of New Brunswick at the end of that year. The T1 form pack...
NB - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which New Brunswick employers will use to determine employee source deductions for federal and provincial income tax, Canada Pen...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which New Brunswick employers will use to determine employee source deductions for federal and provincial income tax, Canada Pen...
NB - Province announces second quarter fiscal results
The New Brunswick government has released its second quarter fiscal results for the 2017-18 year, and those results show a deficit figure which is less than that projected in both the Budget and the f...
The New Brunswick government has released its second quarter fiscal results for the 2017-18 year, and those results show a deficit figure which is less than that projected in both the Budget and the f...
NS - Two-month HST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
NS - Changes to provide expanded access to locked-in pension amounts
Where an individual who is a member of a registered pension plan (RPP) leaves their employer, funds which have accrued to their credit in that RPP are in most cases transferred to a “locked-in” ac...
Where an individual who is a member of a registered pension plan (RPP) leaves their employer, funds which have accrued to their credit in that RPP are in most cases transferred to a “locked-in” ac...
NS - Province issues fiscal update for first quarter of 2024-25
The Nova Scotia government recently issued its first budget update for the province’s 2024-25 fiscal year; that update indicates that the province will run a higher-than-anticipated deficit. The upd...
The Nova Scotia government recently issued its first budget update for the province’s 2024-25 fiscal year; that update indicates that the province will run a higher-than-anticipated deficit. The upd...
NS - Heating Assistance Rebate Program opens October 1
The province provides eligible Nova Scotia residents with a rebate of $600 to help offset the cost of home heating under the Heating Assistance Rebate Program (HARP). That rebate is generally availabl...
The province provides eligible Nova Scotia residents with a rebate of $600 to help offset the cost of home heating under the Heating Assistance Rebate Program (HARP). That rebate is generally availabl...
NS - Province extends current rent cap through 2027
The Nova Scotia government has announced that the current rent cap of 5% has been extended to apply until the end of 2027. The cap had been scheduled to end as of December 31, 2025. The rent cap provi...
The Nova Scotia government has announced that the current rent cap of 5% has been extended to apply until the end of 2027. The cap had been scheduled to end as of December 31, 2025. The rent cap provi...
NS - New registration and fee requirements to be required for specified short-term rentals
The provincial government has announced that, effective as of September 30, 2024, new registration requirements and registration fees and penalties will be imposed with respect to specified types of s...
The provincial government has announced that, effective as of September 30, 2024, new registration requirements and registration fees and penalties will be imposed with respect to specified types of s...
NS - Changes made to Down Payment Assistance Program
The province provides assistance to first-time home buyers who have an annual household income of below $145,000 through its Down Payment Assistance Program. That Program helps provincial residents wh...
The province provides assistance to first-time home buyers who have an annual household income of below $145,000 through its Down Payment Assistance Program. That Program helps provincial residents wh...
NS - Province to provide tax rebate on purpose-built rental housing projects
Nova Scotia provides a temporary program under which taxpayers can receive a rebate of the provincial portion of the harmonized sales tax (HST) applicable to new purpose-built rental housing projects....
Nova Scotia provides a temporary program under which taxpayers can receive a rebate of the provincial portion of the harmonized sales tax (HST) applicable to new purpose-built rental housing projects....
NS - Increase in provincial minimum wage effective April 1, 2024
Effective as of April 1, 2024, the Nova Scotia general minimum wage increased to $15.20 per hour. That change in the minimum wage follows the recommendation made by the province’s Minimum Wage Revie...
Effective as of April 1, 2024, the Nova Scotia general minimum wage increased to $15.20 per hour. That change in the minimum wage follows the recommendation made by the province’s Minimum Wage Revie...
NS - Province to begin indexing of individual income tax brackets and credits
In its 2024-25 budget, the provincial government announced that indexing of individual income tax brackets and some non-refundable individual income tax credits would be introduced, effective as of th...
In its 2024-25 budget, the provincial government announced that indexing of individual income tax brackets and some non-refundable individual income tax credits would be introduced, effective as of th...
NS - Individual income tax rates and brackets for 2024
During the 2024 taxation year the province of Nova Scotia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 8.79% ...
During the 2024 taxation year the province of Nova Scotia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 8.79% ...
NS - Personal tax credit amounts for 2024
The province of Nova Scotia will provide the following personal tax credit amounts for 2024: Basic personal amount ………………………………… $11,481 Spouse or equivalent-to-spouse amount...
The province of Nova Scotia will provide the following personal tax credit amounts for 2024: Basic personal amount ………………………………… $11,481 Spouse or equivalent-to-spouse amount...
NS - Provincial minimum wage to increase April 1, 2024
The Nova Scotia government has announced that, following a recommendation of the province’s Minimum Wage Review Committee, the provincial general minimum wage will increase effective April 1, 2024. ...
The Nova Scotia government has announced that, following a recommendation of the province’s Minimum Wage Review Committee, the provincial general minimum wage will increase effective April 1, 2024. ...
NS - Province launches consultation process for 2024-25 budget
The Nova Scotia government has launched the consultation process for the 2024-25 provincial budget to be brought down in the spring of 2024. Residents of the province can send suggestions or comments ...
The Nova Scotia government has launched the consultation process for the 2024-25 provincial budget to be brought down in the spring of 2024. Residents of the province can send suggestions or comments ...
NS - New forgivable loan program for intergenerational housing builds
The provincial government has announced that residents of the province who build a secondary or backyard suite in their home or on their property may be eligible for up to $25,000 in forgivable loans....
The provincial government has announced that residents of the province who build a secondary or backyard suite in their home or on their property may be eligible for up to $25,000 in forgivable loans....
NS - Skilled trades workers eligible for refund of provincial income tax paid
Nova Scotia residents who were under the age of 31 at the end of 2022 and who are registered as an apprentice or certified as a journeyperson in an eligible trade may receive a refund of provincial t...
Nova Scotia residents who were under the age of 31 at the end of 2022 and who are registered as an apprentice or certified as a journeyperson in an eligible trade may receive a refund of provincial t...
NS - Provincial minimum wage to increase effective October 1, 2023
Earlier this year, the provincial government announced that the Nova Scotia general hourly minimum wage would increase twice during 2023. The first such increase took place on April 1, 2023, when the ...
Earlier this year, the provincial government announced that the Nova Scotia general hourly minimum wage would increase twice during 2023. The first such increase took place on April 1, 2023, when the ...
NS - Applications for seniors’ property tax rebate available July 1, 2023
This year, Nova Scotia will provide eligible lower-income seniors in the province with a rebate of up to one-half of the amount which was paid for property taxes in 2022, with the maximum rebate being...
This year, Nova Scotia will provide eligible lower-income seniors in the province with a rebate of up to one-half of the amount which was paid for property taxes in 2022, with the maximum rebate being...
NS - Province expands small business wildfire relief program
Earlier this month, the Nova Scotia government announced that small businesses located within the mandatory wildfire evacuation zone would be eligible to receive a one-time, $2,500 grant to help offse...
Earlier this month, the Nova Scotia government announced that small businesses located within the mandatory wildfire evacuation zone would be eligible to receive a one-time, $2,500 grant to help offse...
NS - Provincial income tax refund available to under-30 workers in skilled trades
The province provides a refundable tax credit (the “More Opportunity for Skilled Trades and Occupations” tax refund) for individuals who are under the age of 30 and work in the province in specifi...
The province provides a refundable tax credit (the “More Opportunity for Skilled Trades and Occupations” tax refund) for individuals who are under the age of 30 and work in the province in specifi...
NS - Financial support for households and small businesses affected by wildfires
The Nova Scotia government has announced that financial assistance will be provided to households and small businesses in the province which have been affected by the recent wildfires. The Small Busin...
The Nova Scotia government has announced that financial assistance will be provided to households and small businesses in the province which have been affected by the recent wildfires. The Small Busin...
NS - Nova Scotia residents to receive climate action incentive payments in 2023-24
Eligible residents of Nova Scotia will begin receiving federal climate action incentive (CAI) payments, effective as of July 1, 2023.The quarterly payment amounts for Nova Scotia residents are as foll...
Eligible residents of Nova Scotia will begin receiving federal climate action incentive (CAI) payments, effective as of July 1, 2023.The quarterly payment amounts for Nova Scotia residents are as foll...
NS - Date announced for 2023-24 fiscal year budget
The Nova Scotia Minister of Finance has announced that the province’s budget for the upcoming 2023-24 fiscal year will be released on Thursday March 23. Once the budget measures are announced, the f...
The Nova Scotia Minister of Finance has announced that the province’s budget for the upcoming 2023-24 fiscal year will be released on Thursday March 23. Once the budget measures are announced, the f...
NS - Province accelerates planned increases to minimum wage
The Nova Scotia government had announced a five-stage increase in the provincial minimum wage which would see that minimum wage increase to $15.00 by April of 2024. Earlier this month, however, the go...
The Nova Scotia government had announced a five-stage increase in the provincial minimum wage which would see that minimum wage increase to $15.00 by April of 2024. Earlier this month, however, the go...
NS - Individual income tax rates and brackets for 2023
During the 2023 taxation year the province of Nova Scotia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brac...
During the 2023 taxation year the province of Nova Scotia will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brac...
NS - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by Nova Scotia employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Nova Scot...
The Canada Revenue Agency has released the payroll deduction formulas to be used by Nova Scotia employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Nova Scot...
NS - Application process open for small business hurricane relief grant program
The Nova Scotia government has announced that it will be providing a grant to eligible small businesses which were affected by hurricane Fiona, and that the application process for that grant is now o...
The Nova Scotia government has announced that it will be providing a grant to eligible small businesses which were affected by hurricane Fiona, and that the application process for that grant is now o...
NS - Province announces disaster financial relief for small businesses and households
The government of Nova Scotia has announced details of a disaster financial relief program for small businesses and households in the province. The Disaster Financial Assistance Program helps small bu...
The government of Nova Scotia has announced details of a disaster financial relief program for small businesses and households in the province. The Disaster Financial Assistance Program helps small bu...
NS - Minimum wage increase to take effect October 1, 2022
Effective as of October 1, 2022, the Nova Scotia general minimum wage will increase by 25 cents per hour, from $13.35 to $13.60 per hour. The change is the second in a planned five-stage increase in t...
Effective as of October 1, 2022, the Nova Scotia general minimum wage will increase by 25 cents per hour, from $13.35 to $13.60 per hour. The change is the second in a planned five-stage increase in t...
NS - Applications now available for 2022 property tax rebate for seniors
Nova Scotia provides eligible seniors living in the province with a rebate of 50% of the previous year’s property taxes, to a maximum of $800. To qualify for the rebate, seniors must meet the follow...
Nova Scotia provides eligible seniors living in the province with a rebate of 50% of the previous year’s property taxes, to a maximum of $800. To qualify for the rebate, seniors must meet the follow...
NS - Children’s sports and arts tax credit available for 2022
In the 2022-23 budget, the government of Nova Scotia announced the creation of a new refundable tax credit to help offset the cost of enrolling children in athletic or arts programs. The maximum credi...
In the 2022-23 budget, the government of Nova Scotia announced the creation of a new refundable tax credit to help offset the cost of enrolling children in athletic or arts programs. The maximum credi...
NS - Province introduces new sports and arts activities tax credit for children
Effective for the 2022 and subsequent taxation years, Nova Scotia is providing a new tax credit to help offset the cost of enrolling children (under age 19) in artistic, cultural, and physical activit...
Effective for the 2022 and subsequent taxation years, Nova Scotia is providing a new tax credit to help offset the cost of enrolling children (under age 19) in artistic, cultural, and physical activit...
NS - Province cancels plans for non-resident property tax
In its budget for the 2022-23 fiscal year, the Nova Scotia government had announced that it would be imposing a special property tax on non-resident owners of residential property in the province. The...
In its budget for the 2022-23 fiscal year, the Nova Scotia government had announced that it would be imposing a special property tax on non-resident owners of residential property in the province. The...
NS - Multi-stage increase to provincial minimum wage announced
The Nova Scotia government has accepted the recommendation of its Minimum Wage Review Committee that the provincial minimum wage should increase to $15.00 per hour by 2024. That increase will take pla...
The Nova Scotia government has accepted the recommendation of its Minimum Wage Review Committee that the provincial minimum wage should increase to $15.00 per hour by 2024. That increase will take pla...
NS - Provincial minimum wage to increase effective April 1, 2022
The Nova Scotia Minimum Wage Review Committee recently submitted a report recommending increases to the provincial minimum wage. The provincial government has announced that the recommendation for an ...
The Nova Scotia Minimum Wage Review Committee recently submitted a report recommending increases to the provincial minimum wage. The provincial government has announced that the recommendation for an ...
NS - Province launches Budget consultation process for 2022-23
Nova Scotia has announced the start of the consultation process leading to the release of the province’s 2022-23 Budget in the spring of this year. Provincial residents can submit ideas, comments, o...
Nova Scotia has announced the start of the consultation process leading to the release of the province’s 2022-23 Budget in the spring of this year. Provincial residents can submit ideas, comments, o...
NS - CRA issues TD1 form for Nova Scotia residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Nova Scotia for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts ...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Nova Scotia for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts ...
NS - Province releases public accounts for 2020-21
The province has issued its Public Accounts for the fiscal year ended March 31, 2021, summarizing Nova Scotia’s revenue, expenditure, and deficit picture for 2020-21. The province reported a deficit...
The province has issued its Public Accounts for the fiscal year ended March 31, 2021, summarizing Nova Scotia’s revenue, expenditure, and deficit picture for 2020-21. The province reported a deficit...
NS - Province approves financial hardship withdrawals from locked-in retirement accounts
Individuals who hold retirement savings in locked-in accounts cannot generally access those funds prior to reaching a specified age. The Nova Scotia government recently changed the existing rules to p...
Individuals who hold retirement savings in locked-in accounts cannot generally access those funds prior to reaching a specified age. The Nova Scotia government recently changed the existing rules to p...
NS - Application deadline for small business property tax rebate program extended
Earlier this year, the provincial government announced that it would be providing eligible Nova Scotia businesses with a partial rebate of their 2020-21 property taxes. The Small Business Real Propert...
Earlier this year, the provincial government announced that it would be providing eligible Nova Scotia businesses with a partial rebate of their 2020-21 property taxes. The Small Business Real Propert...
NS - Application process for seniors’ property tax rebate starts July 1
The province provides a program for eligible seniors which reduces their property taxes by a maximum of $800. To be eligible for the 2021 program, seniors must be 60 years of age or older, must qualif...
The province provides a program for eligible seniors which reduces their property taxes by a maximum of $800. To be eligible for the 2021 program, seniors must be 60 years of age or older, must qualif...
NS - Application process open for Small Business Property Tax Rebate
The province provides a property tax rebate program for eligible Nova Scotia small businesses, with that program giving eligible businesses a one-time rebate of a portion of their paid property taxes....
The province provides a property tax rebate program for eligible Nova Scotia small businesses, with that program giving eligible businesses a one-time rebate of a portion of their paid property taxes....
NS - Provincial minimum wage increased as of April 1, 2021
Effective as of April 1, 2021, the general minimum wage payable in the province of Nova Scotia increased to $12.95 per hour. The general minimum wage rate does not apply to specified types of employee...
Effective as of April 1, 2021, the general minimum wage payable in the province of Nova Scotia increased to $12.95 per hour. The general minimum wage rate does not apply to specified types of employee...
NS - Province brings down 2021-22 fiscal year Budget
The 2021-22 provincial Budget brought down on March 25, 2021 contained no new personal or corporate taxes or tax increases. The Budget did include an announcement of an extension to the Nova Scotia Eq...
The 2021-22 provincial Budget brought down on March 25, 2021 contained no new personal or corporate taxes or tax increases. The Budget did include an announcement of an extension to the Nova Scotia Eq...
NS - Property tax relief to be provided for small businesses in the service sector
The Nova Scotia government has announced that property tax relief will be provided to qualifying small businesses in the service sector, through a one-time rebate program. Under the Small Business Pro...
The Nova Scotia government has announced that property tax relief will be provided to qualifying small businesses in the service sector, through a one-time rebate program. Under the Small Business Pro...
NS - Individual income tax rates and brackets for 2021
During the 2021 taxation year, the province of Nova Scotia will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
During the 2021 taxation year, the province of Nova Scotia will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
NS - Province issues second Budget update for 2020-21
On December 17, the provincial Minister of Finance issued the province’s second Budget update for the current (2020-21) fiscal year. That update showed that the government is now forecasting a defic...
On December 17, the provincial Minister of Finance issued the province’s second Budget update for the current (2020-21) fiscal year. That update showed that the government is now forecasting a defic...
NS - Property tax rebate provided for qualifying tourism accommodation owners
The provincial government has announced that a partial rebate of 25% of commercial property tax paid for 2020-21 may be claimed by qualified owners of tourism accommodation in the province. To obtain ...
The provincial government has announced that a partial rebate of 25% of commercial property tax paid for 2020-21 may be claimed by qualified owners of tourism accommodation in the province. To obtain ...
NS - Applications available for 2020-21 heating rebate program
Eligible Nova Scotia residents can receive an annual rebate of up to $200, intended to help offset the costs of home heating. To qualify for the Heating Assistance Rebate Program, provincial residents...
Eligible Nova Scotia residents can receive an annual rebate of up to $200, intended to help offset the costs of home heating. To qualify for the Heating Assistance Rebate Program, provincial residents...
NS - Province issues first fiscal update for 2020-21
The first fiscal update issued by the provincial government for the current (2020-21) fiscal year reflects the financial impact of the current pandemic. The government is forecasting a deficit of $852...
The first fiscal update issued by the provincial government for the current (2020-21) fiscal year reflects the financial impact of the current pandemic. The government is forecasting a deficit of $852...
NS - Tax on vaping products to be implemented September 15
As announced in this year’s provincial Budget, the province will be introducing a new tax on all vaping products, effective as of September 15, 2020. Vaping substances, including those that do not c...
As announced in this year’s provincial Budget, the province will be introducing a new tax on all vaping products, effective as of September 15, 2020. Vaping substances, including those that do not c...
NS - Budget update projects current year deficit
On July 29, the Nova Scotia Finance and Treasury Board Minister brought down a budget update for the province’s 2020-21 fiscal year, which indicated that the province will run a deficit of $852.9 mi...
On July 29, the Nova Scotia Finance and Treasury Board Minister brought down a budget update for the province’s 2020-21 fiscal year, which indicated that the province will run a deficit of $852.9 mi...
NS - Provincial digital animation tax credit extended
Nova Scotia provides eligible corporations with a refundable digital animation tax credit, with the amount of the credit based on a specified percentage of qualifying production-related expenditures. ...
Nova Scotia provides eligible corporations with a refundable digital animation tax credit, with the amount of the credit based on a specified percentage of qualifying production-related expenditures. ...
NS - Province to provide small business grant and loan program
The government of Nova Scotia has announced that it will be providing financial support to small businesses in the province which have experienced recent revenue losses. That support will be provided ...
The government of Nova Scotia has announced that it will be providing financial support to small businesses in the province which have experienced recent revenue losses. That support will be provided ...
NS - Provincial minimum wage increased April 1, 2020
Nova Scotia’s general minimum wage was increased, effective as of April 1, 2020. As of that date, the general minimum wage payable in the province increased from $11.55 to $12.55 per hour. As well, ...
Nova Scotia’s general minimum wage was increased, effective as of April 1, 2020. As of that date, the general minimum wage payable in the province increased from $11.55 to $12.55 per hour. As well, ...
NS - Innovation Equity Tax Credit extended to corporate investors
Since January 2019, the province has provided an Innovation Equity Tax Credit to individual investors. That credit has now been extended to be available to corporate investors, effective for corporate...
Since January 2019, the province has provided an Innovation Equity Tax Credit to individual investors. That credit has now been extended to be available to corporate investors, effective for corporate...
NS - Province to reduce general corporate income tax rate
In its 2020-21 fiscal year Budget, which was release on February 28, the provincial Minister of Finance announced that the province would be cutting the general corporate income tax rate. That rate wi...
In its 2020-21 fiscal year Budget, which was release on February 28, the provincial Minister of Finance announced that the province would be cutting the general corporate income tax rate. That rate wi...
NS - 2019 tax return package for Nova Scotia residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Nova Scotia as of December 31, 2019. That return and guide can b...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Nova Scotia as of December 31, 2019. That return and guide can b...
NS - Province launches 2020-21 Budget consultation process
The provincial government has announced the start of the consultation process for Nova Scotia’s 2020-21 Budget, which will run from November 28 to December 31, 2019. Provincial residents can partici...
The provincial government has announced the start of the consultation process for Nova Scotia’s 2020-21 Budget, which will run from November 28 to December 31, 2019. Provincial residents can partici...
NS - Applications now available for 2019-20 Heating Assistance Rebate
The province provides eligible Nova Scotia residents, through the Heating Assistance Rebate Program (HARP) with a rebate of up to $200 to help offset home heating costs. A recent press release indicat...
The province provides eligible Nova Scotia residents, through the Heating Assistance Rebate Program (HARP) with a rebate of up to $200 to help offset home heating costs. A recent press release indicat...
NS - Province issues update on first quarter finances
The first-quarter fiscal update issued recently by the provincial government shows that Nova Scotia is on track to post a balanced budget for the current (2019-20) fiscal year. That fiscal update show...
The first-quarter fiscal update issued recently by the provincial government shows that Nova Scotia is on track to post a balanced budget for the current (2019-20) fiscal year. That fiscal update show...
NS - Province eliminates extra-provincial registration and renewal fees
Businesses which are incorporated in one province and expand their operations into a second province are generally required to pay extra-provincial registration and renewal fees in that second provinc...
Businesses which are incorporated in one province and expand their operations into a second province are generally required to pay extra-provincial registration and renewal fees in that second provinc...
NS - Province releases 2018-19 financial results
The province has released its Public Accounts for 2018-19, including audited financial statements for the year. Those statements show that Nova Scotia recorded a final surplus for the year of $120 mil...
The province has released its Public Accounts for 2018-19, including audited financial statements for the year. Those statements show that Nova Scotia recorded a final surplus for the year of $120 mil...
NS - Student loan forgiveness available to post-July 2019 graduates
Changes are being made to the Nova Scotia Loan Forgiveness Program, effective as of August 1, 2019. Post-secondary students who complete their first undergraduate degree within an 8-year period and wh...
Changes are being made to the Nova Scotia Loan Forgiveness Program, effective as of August 1, 2019. Post-secondary students who complete their first undergraduate degree within an 8-year period and wh...
NS - Seniors’ 2019 property tax rebate applications available now
The province provides eligible Nova Scotia seniors with a rebate of 50% of property taxes paid during the previous year, to a maximum rebate of $800. The application process for the 2019 rebate is now...
The province provides eligible Nova Scotia seniors with a rebate of 50% of property taxes paid during the previous year, to a maximum rebate of $800. The application process for the 2019 rebate is now...
NS - Province provides guidelines for Innovation Equity Tax Credit
As of January 1, 2019, the province provides an Innovation Equity Tax Credit which allows individual investors in qualifying Nova Scotia companies to earn a personal income tax credit. The maximum inv...
As of January 1, 2019, the province provides an Innovation Equity Tax Credit which allows individual investors in qualifying Nova Scotia companies to earn a personal income tax credit. The maximum inv...
NS - Province creates new corporation innovation equity tax credit
In its Budget for the 2019-20 fiscal year, the province announced that a corporate innovation equity tax credit would be made available, effective as of April 1, 2019. The new credit, which is similar...
In its Budget for the 2019-20 fiscal year, the province announced that a corporate innovation equity tax credit would be made available, effective as of April 1, 2019. The new credit, which is similar...
NS - Province tables fourth consecutive balanced Budget
On March 26, the provincial Minister of Finance delivered a balanced Budget for the upcoming (2019-20) fiscal year. Projections included in the Budget also called for balanced budgets in each of the n...
On March 26, the provincial Minister of Finance delivered a balanced Budget for the upcoming (2019-20) fiscal year. Projections included in the Budget also called for balanced budgets in each of the n...
NS - Provincial minimum wage to increase April 1, 2019
Effective April 1, 2019, the general minimum wage for experienced workers in the province will increase to $11.55 per hour. As of the same date, the minimum hourly wage for inexperienced workers incre...
Effective April 1, 2019, the general minimum wage for experienced workers in the province will increase to $11.55 per hour. As of the same date, the minimum hourly wage for inexperienced workers incre...
NS - Province announces 2019-20 Budget date
The 2019-20 provincial Budget will be brought down by the Nova Scotia Minister of Finance on Tuesday March 26, 2019. Once the Budget is released, the budget papers will be posted on the provincial g...
The 2019-20 provincial Budget will be brought down by the Nova Scotia Minister of Finance on Tuesday March 26, 2019. Once the Budget is released, the budget papers will be posted on the provincial g...
NS - Province creates Innovation Equity Tax Credit
The provincial government has announced that, effective immediately, it will be providing a new Innovation Equity Tax Credit. That new tax credit applies to investments up to $250,000 in eligible busi...
The provincial government has announced that, effective immediately, it will be providing a new Innovation Equity Tax Credit. That new tax credit applies to investments up to $250,000 in eligible busi...
NS - 2019-20 Budget consultation process launched
The provincial government has announced that the consultation process for the 2019-20 Nova Scotia Budget commenced on November 30 and will end on December 31, 2018. Provincial residents can participat...
The provincial government has announced that the consultation process for the 2019-20 Nova Scotia Budget commenced on November 30 and will end on December 31, 2018. Provincial residents can participat...
NS - Applications for 2018-19 home heating rebate program now available
The province government has announced that applications under the 2018-19 Heating Assistance Rebate Program are now available to be filed. That program provides eligible residents of the province with...
The province government has announced that applications under the 2018-19 Heating Assistance Rebate Program are now available to be filed. That program provides eligible residents of the province with...
NS - Province releases first update of 2018-19 Budget
The first update since the release of the province’s Budget for the 2018-19 fiscal year shows an increase in the forecast surplus. The projected surplus is now $34.5 million, up $5.1 million from th...
The first update since the release of the province’s Budget for the 2018-19 fiscal year shows an increase in the forecast surplus. The projected surplus is now $34.5 million, up $5.1 million from th...
NS - Seniors’ property tax rebate program expanded
The province provides eligible Nova Scotia seniors with a rebate of municipal property taxes paid for the previous year. That rebate is set at 50% of such property taxes paid, to a maximum rebate of $...
The province provides eligible Nova Scotia seniors with a rebate of municipal property taxes paid for the previous year. That rebate is set at 50% of such property taxes paid, to a maximum rebate of $...
NS - Province receives highest-ever credit rating
The Nova Scotia government has announced that its credit rating from the ratings agency Standard and Poor’s was recently increased from A+ to AA-, which is the province’s highest rating to date fr...
The Nova Scotia government has announced that its credit rating from the ratings agency Standard and Poor’s was recently increased from A+ to AA-, which is the province’s highest rating to date fr...
NS - Province releases 2017-18 fiscal year results
Nova Scotia Finance has announced that the province ended its 2017-18 fiscal year in a surplus position. The gross surplus for the year ending March 31, 2018 was $230 million. That surplus figure was ...
Nova Scotia Finance has announced that the province ended its 2017-18 fiscal year in a surplus position. The gross surplus for the year ending March 31, 2018 was $230 million. That surplus figure was ...
NS - Applications available for interest-free down payment loans
The provincial government has announced that applications are now available for interest-free down payment loans for first-time homeowners. Under the Down Payment Assistance Program, the province will...
The provincial government has announced that applications are now available for interest-free down payment loans for first-time homeowners. Under the Down Payment Assistance Program, the province will...
NS - Increase to provincial personal tax credits for 2018
Earlier this year, the province announced that a number of personal tax credit amounts have been increased for low and middle income taxpayers, effective as of the 2018 tax year. Each of the basic per...
Earlier this year, the province announced that a number of personal tax credit amounts have been increased for low and middle income taxpayers, effective as of the 2018 tax year. Each of the basic per...
NS - 2018-19 provincial Budget projects current year surplus
The 2018-19 Nova Scotia Budget brought down on March 20, 2018 indicates that the province will record a surplus of $29.4 million for the current (2018-19) fiscal year, and includes projections of bala...
The 2018-19 Nova Scotia Budget brought down on March 20, 2018 indicates that the province will record a surplus of $29.4 million for the current (2018-19) fiscal year, and includes projections of bala...
NS - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Nova Scotia will levy personal income tax at the following tax rates and brackets: 79% on the first $29,590 of taxable income; 95% on taxable income between $29...
For the 2018 tax year, the province of Nova Scotia will levy personal income tax at the following tax rates and brackets: 79% on the first $29,590 of taxable income; 95% on taxable income between $29...
NS - Minimum wage increase effective April 1
As of April 1, 2018, the provincial minimum wage will be increased, with that increase based on the 2017 national Consumer Price Index. That inflationary change will mean that the general minimum wage...
As of April 1, 2018, the provincial minimum wage will be increased, with that increase based on the 2017 national Consumer Price Index. That inflationary change will mean that the general minimum wage...
NS - CRA releases 2017 T1 tax return form for Nova Scotia residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Nova Scotia at the end of that year. The T1 form packag...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Nova Scotia at the end of that year. The T1 form packag...
NS - Increased surplus projected in 2017-18 budget update
In the 2017-18 budget update presented on December 21, the province’s Minister of Finance was able to project an improvement in Nova Scotia’s net financial position for the current fiscal year. Th...
In the 2017-18 budget update presented on December 21, the province’s Minister of Finance was able to project an improvement in Nova Scotia’s net financial position for the current fiscal year. Th...
ON - Ontario Child Benefit cheque payments for December delayed by one week
Payments under the Ontario Child Benefit program are issued by the Canada Revenue Agency, by cheque or by direct deposit. Such payments for the month of December were scheduled to be made on December ...
Payments under the Ontario Child Benefit program are issued by the Canada Revenue Agency, by cheque or by direct deposit. Such payments for the month of December were scheduled to be made on December ...
ON - Two-month HST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
ON - Province to provide $200 rebate to Ontario residents
As announced in the 2024 Economic Statement, the province will, in early 2025, be providing a $200 rebate to each adult resident of the province. In order to receive the rebate, an individual must hav...
As announced in the 2024 Economic Statement, the province will, in early 2025, be providing a $200 rebate to each adult resident of the province. In order to receive the rebate, an individual must hav...
ON - Updated deficit projection issued in 2024 Economic Review
In the 2024 Economic Outlook and Fiscal Review released on October 30, the Ontario Minister of Finance announced an improved deficit forecast for the province’s current (2024-25) fiscal year, which ...
In the 2024 Economic Outlook and Fiscal Review released on October 30, the Ontario Minister of Finance announced an improved deficit forecast for the province’s current (2024-25) fiscal year, which ...
ON - Gas tax reduction to be extended
The Ontario government has indicated that the measures to be announced as part of the province’s upcoming 2024-25 Fall Economic Statement will include the extension of the current 5.7 cent-per-litre...
The Ontario government has indicated that the measures to be announced as part of the province’s upcoming 2024-25 Fall Economic Statement will include the extension of the current 5.7 cent-per-litre...
ON - Date announced for release of 2024-25 Fall Economic Statement
The Ontario government has announced the date on which the Fall Economic Statement for the province’s 2024-25 fiscal year will be released. That Economic Statement will be delivered by the Ontario M...
The Ontario government has announced the date on which the Fall Economic Statement for the province’s 2024-25 fiscal year will be released. That Economic Statement will be delivered by the Ontario M...
ON - Upcoming dates for Ontario tax webinars
Ontario Finance provides a series of webinars covering various tax topics affecting individuals living in the province. The topics currently covered by those webinars include Ontario personal income t...
Ontario Finance provides a series of webinars covering various tax topics affecting individuals living in the province. The topics currently covered by those webinars include Ontario personal income t...
ON - Interest Rates - 2024
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Minimum wage to increase effective October 1, 2024
Effective October 1, 2024 (and until September 30, 2025), the Ontario general minimum wage will increase from $16.55 to $17.20 per hour. The change is based on increases in the province’s Consumer P...
Effective October 1, 2024 (and until September 30, 2025), the Ontario general minimum wage will increase from $16.55 to $17.20 per hour. The change is based on increases in the province’s Consumer P...
ON - Province releases final Public Accounts for 2023-24 fiscal year
The Ontario government has released the final revenue, expenditure, and deficit figures for the province’s 2023-24 fiscal year, which ended on March 31, 2024. The Ontario government recorded a $0.6 ...
The Ontario government has released the final revenue, expenditure, and deficit figures for the province’s 2023-24 fiscal year, which ended on March 31, 2024. The Ontario government recorded a $0.6 ...
ON - Province releases report on First Quarter Finances for 2024-25
The Ontario government has released the figures summarizing the province’s fiscal position at the end of the first quarter (April 1 to June 30) of its 2024-25 fiscal year. The 2024-25 First Quarter ...
The Ontario government has released the figures summarizing the province’s fiscal position at the end of the first quarter (April 1 to June 30) of its 2024-25 fiscal year. The 2024-25 First Quarter ...
ON - Provincial minimum wage to increase effective October 1, 2024
Effective as of October 1, 2024, the Ontario general minimum wage will increase by 65 cents per hour, from $16.55 to $17.20 per hour. That increase in the general minimum wage is tied to changes in th...
Effective as of October 1, 2024, the Ontario general minimum wage will increase by 65 cents per hour, from $16.55 to $17.20 per hour. That increase in the general minimum wage is tied to changes in th...
ON - Province announces rent increase guideline for 2025
Most rental accommodation in Ontario is subject to rent control guidelines, which limit the amount by which rent charged can increase from one year to the next. The Ontario government has announced th...
Most rental accommodation in Ontario is subject to rent control guidelines, which limit the amount by which rent charged can increase from one year to the next. The Ontario government has announced th...
ON - Interest Rates - 2024
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Ontario Trillium Benefit amounts to increase effective July 1, 2024
The benefit year for Ontario’s refundable tax credit and benefit programs runs from July 1 to June 30. Consequently, a new benefit year will begin July 1, 2024, and benefits payable under such progr...
The benefit year for Ontario’s refundable tax credit and benefit programs runs from July 1 to June 30. Consequently, a new benefit year will begin July 1, 2024, and benefits payable under such progr...
ON - Province to introduce new consumer protection measures for homebuyers
The Ontario government has announced that it will be implementing a series of measures intended to provide additional protection to homebuyers in the province. One of those measures will be the introd...
The Ontario government has announced that it will be implementing a series of measures intended to provide additional protection to homebuyers in the province. One of those measures will be the introd...
ON - Donations of agricultural products eligible for Community Food Donation Tax Credit
Ontario farmers (individuals or corporations) that donate agricultural products (defined as anything intended for human consumption that is grown, raised, or harvested on a farm) to eligible community...
Ontario farmers (individuals or corporations) that donate agricultural products (defined as anything intended for human consumption that is grown, raised, or harvested on a farm) to eligible community...
ON - Changes made to Computer Animation and Special Effects Tax Credit
The Ontario government provides an 18% refundable tax credit – the Ontario Computer Animation and Special Effects (OCASE) tax credit – for corporations which undertake computer animation and speci...
The Ontario government provides an 18% refundable tax credit – the Ontario Computer Animation and Special Effects (OCASE) tax credit – for corporations which undertake computer animation and speci...
ON - Provincial minimum wage to increase October 1
The government of Ontario has announced that the province’s general minimum wage will increase, effective as of October 1, 2024. On that date, the minimum wage will increase from $16.55 to $17.20 pe...
The government of Ontario has announced that the province’s general minimum wage will increase, effective as of October 1, 2024. On that date, the minimum wage will increase from $16.55 to $17.20 pe...
ON - Interest Rates - 2024
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Gasoline and fuel tax reduction extended to end of 2024
In 2022, the Ontario government announced a temporary reduction in the rate of both gasoline tax and fuel (diesel) tax by, respectively, 5.7 cents and 5.3 cents per litre. Following the reduction, the...
In 2022, the Ontario government announced a temporary reduction in the rate of both gasoline tax and fuel (diesel) tax by, respectively, 5.7 cents and 5.3 cents per litre. Following the reduction, the...
ON - Free tax webinars provided by Ontario Finance
The Ontario Ministry of Finance provides an ongoing series of webinars on different aspects of the province’s tax system, including sessions on Ontario tax credits and benefits, the tax credits, ben...
The Ontario Ministry of Finance provides an ongoing series of webinars on different aspects of the province’s tax system, including sessions on Ontario tax credits and benefits, the tax credits, ben...
ON - Date announced for 2024-25 provincial budget
Ontario’s budget for the upcoming 2024-25 (April 1, 2024 to March 31, 2025) fiscal year will be released on Tuesday March 26, 2024. Once the budget measures are announced, the full budget papers wil...
Ontario’s budget for the upcoming 2024-25 (April 1, 2024 to March 31, 2025) fiscal year will be released on Tuesday March 26, 2024. Once the budget measures are announced, the full budget papers wil...
ON - Third quarter fiscal update projects $4.5 billion deficit
The2023-24 Third Quarter Finances report released by the Minister of Finance on February 12projects a deficit of $4.5 billion for the full 2023-24 fiscal year which ends on March 31, 2024. While that...
The2023-24 Third Quarter Finances report released by the Minister of Finance on February 12projects a deficit of $4.5 billion for the full 2023-24 fiscal year which ends on March 31, 2024. While that...
ON - Individual income tax rates and brackets for 2024
During the 2024 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.05% ...
During the 2024 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.05% ...
ON - Webinar series to be held on Ontario medical expense and senior’s care at home tax credits
Canadian taxpayers are entitled to claim a non-refundable tax credit (for both federal and provincial purposes) for qualifying medical expenses incurred. The province of Ontario also provides a refund...
Canadian taxpayers are entitled to claim a non-refundable tax credit (for both federal and provincial purposes) for qualifying medical expenses incurred. The province of Ontario also provides a refund...
ON - Personal tax credit amounts for 2024
The province of Ontario will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $12,399 Spouse or equivalent-to-spouse amount … ...
The province of Ontario will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $12,399 Spouse or equivalent-to-spouse amount … ...
ON - Interest Rates - 2024
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - CRA issues Employer Guide to Payroll Deductions and Remittances for 2024
The Canada Revenue Agency (CRA) has issued the Employer Guide to Payroll Deductions and Remittances (T4001(E) Rev. 23) to be used by Ontario employers in determining what source deductions are to be m...
The Canada Revenue Agency (CRA) has issued the Employer Guide to Payroll Deductions and Remittances (T4001(E) Rev. 23) to be used by Ontario employers in determining what source deductions are to be m...
ON - Updated guidelines issued for Ontario Production Services Tax Credit
The province of Ontario provides an Ontario Production Services Tax Credit (OPSTC), a refundable tax credit based on Ontario labour and other qualifying production expenditures incurred by a qualifyin...
The province of Ontario provides an Ontario Production Services Tax Credit (OPSTC), a refundable tax credit based on Ontario labour and other qualifying production expenditures incurred by a qualifyin...
ON - New guidelines announced for Ontario Film and Television Production Tax Credit
The province provides a refundable Ontario Film and Television Tax Credit (OFTTC), which is based upon eligible Ontario labour expenditures incurred by a qualifying production company with respect to ...
The province provides a refundable Ontario Film and Television Tax Credit (OFTTC), which is based upon eligible Ontario labour expenditures incurred by a qualifying production company with respect to ...
ON - Province expands HST rebate on purchases of residential rental property
The Ontario government currently provides a rebate of the provincial portion of the harmonized sales tax (“HST”) paid on certain purchases of a newly constructed or substantially renovated reside...
The Ontario government currently provides a rebate of the provincial portion of the harmonized sales tax (“HST”) paid on certain purchases of a newly constructed or substantially renovated reside...
ON - Deficit for 2023-24 expected to reach $5.6 billion
In the Ontario Economic Outlook and Fiscal Review released on November 2, the Ontario government announced that the deficit for the current (2023-24) fiscal year is projected to be $5.6 billion. That ...
In the Ontario Economic Outlook and Fiscal Review released on November 2, the Ontario government announced that the deficit for the current (2023-24) fiscal year is projected to be $5.6 billion. That ...
ON - Fuel tax relief measures extended to June 30, 2024
The Ontario government has announced that the fuel tax relief measures which were scheduled to end as of December 31, 2023 will instead be extended for a further six months, until June 30, 2024. Those...
The Ontario government has announced that the fuel tax relief measures which were scheduled to end as of December 31, 2023 will instead be extended for a further six months, until June 30, 2024. Those...
ON - Date announced for release of Fall Economic Statement
The Ontario government has announced that the Fall Economic Statement for the 2023-24 fiscal year will be provided by the Minister of Finance on Thursday November 2, 2023. Once the measures in the Sta...
The Ontario government has announced that the Fall Economic Statement for the 2023-24 fiscal year will be provided by the Minister of Finance on Thursday November 2, 2023. Once the measures in the Sta...
ON - Updated form issued for filing of objections to corporate income tax assessments
Corporations in Ontario are subject to provincial corporate income tax, and are entitled to file a Notice of Objection with respect to any assessment of such tax with which they disagree. That Notice ...
Corporations in Ontario are subject to provincial corporate income tax, and are entitled to file a Notice of Objection with respect to any assessment of such tax with which they disagree. That Notice ...
ON - Updated information issued on Ontario Estate Administration Tax
Ontario levies an Estate Administration Tax (EAT) on estates for which an estate certificate (formerly known as letters probate) is applied for and issued. The amount of tax payable is based on the mo...
Ontario levies an Estate Administration Tax (EAT) on estates for which an estate certificate (formerly known as letters probate) is applied for and issued. The amount of tax payable is based on the mo...
ON - Interest Rates - 2023
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - General minimum wage rate to increase October 1, 2023
Effective as of Sunday October 1, 2023, the provincial general minimum wage will increase by $1.05, from $15.50 to $16.55 per hour. The increase in the minimum wage is tied to changes in Ontario’s C...
Effective as of Sunday October 1, 2023, the provincial general minimum wage will increase by $1.05, from $15.50 to $16.55 per hour. The increase in the minimum wage is tied to changes in Ontario’s C...
ON - Updated information issued on rebates of Harmonized Sales Tax
Since 2010, Ontario residents have paid a harmonized sales tax (HST) on the purchase of most goods and services in the province. That harmonized sales tax, which combines the federal goods and service...
Since 2010, Ontario residents have paid a harmonized sales tax (HST) on the purchase of most goods and services in the province. That harmonized sales tax, which combines the federal goods and service...
ON - Updated Notice issued on Non-Resident Speculation Tax
The Ontario government has updated its Notice outlining the province’s Non-Resident Speculation Tax. That tax is imposed at a rate of 25% (effective as of October 25, 2022) of the sale price of purc...
The Ontario government has updated its Notice outlining the province’s Non-Resident Speculation Tax. That tax is imposed at a rate of 25% (effective as of October 25, 2022) of the sale price of purc...
ON - Province releases first quarter fiscal results for 2023-24
The Ontario Minister of Finance has issued a report outlining the province’s fiscal performance for the first quarter (April 1 – June 30, 2023) of the 2023-24 fiscal year. The fiscal figures conta...
The Ontario Minister of Finance has issued a report outlining the province’s fiscal performance for the first quarter (April 1 – June 30, 2023) of the 2023-24 fiscal year. The fiscal figures conta...
ON - Climate action incentive payment amounts for 2023-24
Eligible residents of Ontario can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligible res...
Eligible residents of Ontario can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligible res...
ON - Provincial minimum wage to increase effective October 1, 2023
The Ontario government has announced that the province’s minimum wage will increase, effective as of October 1, 2023, with the increase tied to the Ontario Consumer Price Index for 2023. As of Octob...
The Ontario government has announced that the province’s minimum wage will increase, effective as of October 1, 2023, with the increase tied to the Ontario Consumer Price Index for 2023. As of Octob...
ON - Payment of WSIB premiums through CRA My Business Account
The Canada Revenue Agency (CRA) and the Ontario Workplace Safety and Insurance Board (WSIB) have announced that, effective as of July 4, 2023, Ontario businesses which have a business number can repor...
The Canada Revenue Agency (CRA) and the Ontario Workplace Safety and Insurance Board (WSIB) have announced that, effective as of July 4, 2023, Ontario businesses which have a business number can repor...
ON - Interest Rates - 2023
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Film and television tax credit expanded to include online productions
Producers of eligible film and television productions in Ontario can claim the Ontario Film and Television Tax Credit (OFTTC), a refundable tax credit which is generally equal to 35% of eligible Ontar...
Producers of eligible film and television productions in Ontario can claim the Ontario Film and Television Tax Credit (OFTTC), a refundable tax credit which is generally equal to 35% of eligible Ontar...
ON - Increase in income eligibility thresholds for Energy Affordability Program
Through its Energy Affordability Program, the province of Ontario provides a number of energy efficiency upgrades free of charge to residents of the province who meet specified eligibility criteria. T...
Through its Energy Affordability Program, the province of Ontario provides a number of energy efficiency upgrades free of charge to residents of the province who meet specified eligibility criteria. T...
ON - Minimum wage increase to take effect October 1, 2023
The Ontario government has announced that, effective as of October 1, 2023, the general minimum wage payable in the province will increase by $1.05, from $15.50 to $16.55 per hour. The increase is bas...
The Ontario government has announced that, effective as of October 1, 2023, the general minimum wage payable in the province will increase by $1.05, from $15.50 to $16.55 per hour. The increase is bas...
ON - Interest Rates - 2023
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Budget introduces new Ontario manufacturing tax credit
In its recent budget for the province’s 2023-24 fiscal year, the Ontario government introduced a new Ontario Made Manufacturing Investment Tax Credit for capital investments made in buildings, machi...
In its recent budget for the province’s 2023-24 fiscal year, the Ontario government introduced a new Ontario Made Manufacturing Investment Tax Credit for capital investments made in buildings, machi...
ON - Updated publication posted on provincial beer and wine tax
The Ontario Ministry of Finance has posted on its website an updated publication outlining details of the Ontario tax on sales of beer and wine in the province. The updated information, which is avail...
The Ontario Ministry of Finance has posted on its website an updated publication outlining details of the Ontario tax on sales of beer and wine in the province. The updated information, which is avail...
ON - 2023-24 budget to be announced on March 23
The Ontario Minister of Finance has announced that Ontario’s budget for its 2023-24 fiscal year will be brought down on Thursday March 23, 2023. Once the budget measures are announced, the full 2023...
The Ontario Minister of Finance has announced that Ontario’s budget for its 2023-24 fiscal year will be brought down on Thursday March 23, 2023. Once the budget measures are announced, the full 2023...
ON - Ontario issues third quarter financial report for 2022-23 fiscal year
The Ontario government has released its report on the province’s finances for the Third Quarter (October to December 2022) of its 2022-23 fiscal year. Overall, the provincial government is projectin...
The Ontario government has released its report on the province’s finances for the Third Quarter (October to December 2022) of its 2022-23 fiscal year. Overall, the provincial government is projectin...
ON - Individual income tax rates and brackets for 2023
During the 2023 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.05% ...
During the 2023 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Income Brackets 5.05% ...
ON - Personal tax credit amounts for 2023
The province of Ontario will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $11,865 Spouse or equivalent to spouse amount …...
The province of Ontario will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $11,865 Spouse or equivalent to spouse amount …...
ON - Interest Rates - 2023
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Payroll deduction formulas for 2023 released
The Canada Revenue Agency has released the payroll deduction formulas to be used by Ontario employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Ontario emplo...
The Canada Revenue Agency has released the payroll deduction formulas to be used by Ontario employers during the 2023 tax year. The Guide to Payroll Deductions outlines the amounts which Ontario emplo...
ON - Updated guide issued to provincial gasoline tax
The Ontario Ministry of Finance has updated its online guide to the province’s gasoline tax. The updated guide reviews the types of gasoline products subject to the tax and the tax rates imposed on ...
The Ontario Ministry of Finance has updated its online guide to the province’s gasoline tax. The updated guide reviews the types of gasoline products subject to the tax and the tax rates imposed on ...
ON - Province announces one-year extension of gas and fuel tax holiday
Earlier this year the Ontario government announced a temporary holiday from provincial taxes imposed on the sale of gasoline and fuel. That holiday, which cut the gas tax by 5.7 cents per litre and th...
Earlier this year the Ontario government announced a temporary holiday from provincial taxes imposed on the sale of gasoline and fuel. That holiday, which cut the gas tax by 5.7 cents per litre and th...
ON - Date announced for release of Fall Economic Statement
The Ontario Minister of Finance has announced that the Fall Economic Statement for the 2022-23 fiscal year will be released on Monday November 14, 2022. The Statement will include updated information ...
The Ontario Minister of Finance has announced that the Fall Economic Statement for the 2022-23 fiscal year will be released on Monday November 14, 2022. The Statement will include updated information ...
ON - Province increases Non-Resident Speculation Tax rate
The province of Ontario levies a Non-Resident Speculation Tax on the price of homes purchased in Ontario by foreign nationals (individuals who are not citizens or permanent residents of Canada), forei...
The province of Ontario levies a Non-Resident Speculation Tax on the price of homes purchased in Ontario by foreign nationals (individuals who are not citizens or permanent residents of Canada), forei...
ON - Interest Rates - 2022
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Year-end financial results for 2021-22 released
The government of Ontario has released the final Public Accounts for its 2021-22 fiscal year which ended on March 31, 2022, and the results are better than expected. The final figures show that, for 2...
The government of Ontario has released the final Public Accounts for its 2021-22 fiscal year which ended on March 31, 2022, and the results are better than expected. The final figures show that, for 2...
ON - General minimum wage rate to increase effective October 1, 2022
The provincial government has announced that the general provincial minimum wage will increase, effective as of October 1, 2022, by 50 cents per hour. That increase, which is based on changes to the O...
The provincial government has announced that the general provincial minimum wage will increase, effective as of October 1, 2022, by 50 cents per hour. That increase, which is based on changes to the O...
ON - Seniors Care at Home Tax Credit available for 2022 tax year
Ontario residents who are 70 years of age or older by the end of 2022 can claim a new Seniors Care at Home Tax Credit on their return for the 2022 tax year. Expenditures which qualify for the existing...
Ontario residents who are 70 years of age or older by the end of 2022 can claim a new Seniors Care at Home Tax Credit on their return for the 2022 tax year. Expenditures which qualify for the existing...
ON - Enhanced rate for corporate investment tax credit extended through 2023
The province of Ontario provides a refundable tax credit – the Regional Opportunities Investment Tax Credit - to Canadian-controlled private corporations which make qualifying investments in specifi...
The province of Ontario provides a refundable tax credit – the Regional Opportunities Investment Tax Credit - to Canadian-controlled private corporations which make qualifying investments in specifi...
ON - Province issues report on first quarter finances for 2022-23
The Ontario government has released details of the province’s fiscal position at the end of the first quarter of the 2022-23 fiscal year (June 30, 2022). The government summary indicates that it is ...
The Ontario government has released details of the province’s fiscal position at the end of the first quarter of the 2022-23 fiscal year (June 30, 2022). The government summary indicates that it is ...
ON - Provincial minimum wage to increase
Effective as of October 1, 2022, the general minimum wage payable in Ontario will increase from $15.00 to $15.50 per hour, to reflect changes to the Ontario Consumer Price Index for 2022. Different mi...
Effective as of October 1, 2022, the general minimum wage payable in Ontario will increase from $15.00 to $15.50 per hour, to reflect changes to the Ontario Consumer Price Index for 2022. Different mi...
ON - Updated information provided on Estate Administration Tax
The province of Ontario levies an Estate Administration Tax (EAT) when the executor of an estate applies for an Estate Administration Certification (formerly known as letters of probate or letters of ...
The province of Ontario levies an Estate Administration Tax (EAT) when the executor of an estate applies for an Estate Administration Certification (formerly known as letters of probate or letters of ...
ON - Tax penalty and interest relief period for Ontario businesses ended
As part of its pandemic response measures, the provincial government provided businesses with a tax penalty and interest relief period. While all tax filing and payment deadlines were unchanged, penal...
As part of its pandemic response measures, the provincial government provided businesses with a tax penalty and interest relief period. While all tax filing and payment deadlines were unchanged, penal...
ON - Increased tax credit amounts provided for July 2022 to June 2023 benefit year
The Ontario government provides a number of refundable tax credits which are claimed on the annual tax return and paid on a monthly basis throughout the year. The benefit year for such credits runs fr...
The Ontario government provides a number of refundable tax credits which are claimed on the annual tax return and paid on a monthly basis throughout the year. The benefit year for such credits runs fr...
ON - Interest and penalty relief period ends July 1, 2022
As part of its pandemic relief measures, the government of Ontario suspended the imposition of interest and penalty charges for late filings and late or insufficient remittances of tax by Ontario busi...
As part of its pandemic relief measures, the government of Ontario suspended the imposition of interest and penalty charges for late filings and late or insufficient remittances of tax by Ontario busi...
ON - Interest Rates - 2022
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Gas and fuel tax reduction to take effect as of July 1, 2022
Earlier this year, the provincial government announced that, to provide some relief from high gas prices, provincial gas and fuel taxes would be temporarily reduced. That tax reduction will take effec...
Earlier this year, the provincial government announced that, to provide some relief from high gas prices, provincial gas and fuel taxes would be temporarily reduced. That tax reduction will take effec...
ON - Eligibility criteria for film and television tax credits expanded
Under two existing programs, Ontario provides tax credits to the film and television production industry. As part of this year’s budget, the provincial government announced that eligibility for thos...
Under two existing programs, Ontario provides tax credits to the film and television production industry. As part of this year’s budget, the provincial government announced that eligibility for thos...
ON - Fuel taxes to be decreased effective July 1, 2022
Ontario residents will see some relief from high gas prices beginning July 1, when provincial taxes on gas and fuel are reduced for a six-month period ending December 31, 2022. As of July 1, 2022, the...
Ontario residents will see some relief from high gas prices beginning July 1, when provincial taxes on gas and fuel are reduced for a six-month period ending December 31, 2022. As of July 1, 2022, the...
ON - New tax credit to be provided for seniors’ at-home care expenses
As announced in this year’s budget, the province will, beginning with the 2022 tax year, be providing a refundable tax credit to help seniors with eligible medical expenses, including expenses that ...
As announced in this year’s budget, the province will, beginning with the 2022 tax year, be providing a refundable tax credit to help seniors with eligible medical expenses, including expenses that ...
ON - 2022-23 budget projects current-year deficit of $19.9 billion
The 2022-23 Ontario budget was announced by the Minister of Finance on April 28, 2022. That budget projects a deficit of $19.9 billion for the current (2022-23) fiscal year. Projections contained in t...
The 2022-23 Ontario budget was announced by the Minister of Finance on April 28, 2022. That budget projects a deficit of $19.9 billion for the current (2022-23) fiscal year. Projections contained in t...
ON - Temporary cut in gas and fuel taxes effective July 1, 2022
The provincial government has announced that the gasoline tax will be reduced by 5.7 cents per litre, effective as of July 1, 2022. As of the same date, the provincial fuel tax will be reduced by 5.3 ...
The provincial government has announced that the gasoline tax will be reduced by 5.7 cents per litre, effective as of July 1, 2022. As of the same date, the provincial fuel tax will be reduced by 5.3 ...
ON - Province increases and expands non-resident speculation tax on property purchases
Since 2017, a 15% non-resident speculation tax (NRST) has been levied by the province on purchases of residential property located in the Greater Golden Horseshoe Region (GGH) of Ontario, by individua...
Since 2017, a 15% non-resident speculation tax (NRST) has been levied by the province on purchases of residential property located in the Greater Golden Horseshoe Region (GGH) of Ontario, by individua...
ON - Interest Rates - 2022
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Climate Action Incentive payment amounts for 2022-23
The federal government has released information on Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Ontario, those amounts will be $373 for the first adult in a family, $18...
The federal government has released information on Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Ontario, those amounts will be $373 for the first adult in a family, $18...
ON - Province delays release of budget for fiscal year 2022-23
In its announcement of this year’s budget consultation process, the Ontario government indicated that, as required by provincial law, the 2022–23 provincial budget would be brought down before Mar...
In its announcement of this year’s budget consultation process, the Ontario government indicated that, as required by provincial law, the 2022–23 provincial budget would be brought down before Mar...
ON - Provincial “staycation” tax credit available during 2022
The Ontario government has issued a reminder to residents of the province that a refundable tax credit may be claimed for expenses incurred for eligible accommodation during 2022 at hotels, motels, lo...
The Ontario government has issued a reminder to residents of the province that a refundable tax credit may be claimed for expenses incurred for eligible accommodation during 2022 at hotels, motels, lo...
ON - Seniors’ home safety tax credit extended to end of 2022
The Seniors’ Home Safety Tax Credit is a refundable credit of 25% of up to $10,000 per household in eligible expenses, to a maximum credit of $2,500. The credit is provided for eligible home renovat...
The Seniors’ Home Safety Tax Credit is a refundable credit of 25% of up to $10,000 per household in eligible expenses, to a maximum credit of $2,500. The credit is provided for eligible home renovat...
ON - Personal tax credit amounts for 2022
The province of Ontario will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $11,141 Spouse or equivalent to spouse amount …...
The province of Ontario will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $11,141 Spouse or equivalent to spouse amount …...
ON - Province announces third quarter financial results for 2021-22
The province of Ontario has issued the revenue, expenditure, and deficit projection figures for the third quarter (October to December 2021) of its 2021-22 fiscal year. Overall, the fiscal picture was...
The province of Ontario has issued the revenue, expenditure, and deficit projection figures for the third quarter (October to December 2021) of its 2021-22 fiscal year. Overall, the fiscal picture was...
ON - 2022-23 Budget consultation process closes on February 11
In January, the provincial government announced the launch of its virtual budget consultation process leading to the release of the Ontario Budget for 2022-23. That Budget will be brought down by the ...
In January, the provincial government announced the launch of its virtual budget consultation process leading to the release of the Ontario Budget for 2022-23. That Budget will be brought down by the ...
ON - Province to provide $10,000 grant to small businesses affected by mandatory closure
As part of its pandemic relief measures, the Ontario government is providing a Small Business Relief Grant for small businesses that are subject to closure under the public health orders issued on Jan...
As part of its pandemic relief measures, the Ontario government is providing a Small Business Relief Grant for small businesses that are subject to closure under the public health orders issued on Jan...
ON - Applications open for Ontario Business Costs Rebate program
The Ontario government recently announced that, as part of pandemic relief measures, eligible businesses in the province could receive a rebate of property tax and energy costs incurred during partial...
The Ontario government recently announced that, as part of pandemic relief measures, eligible businesses in the province could receive a rebate of property tax and energy costs incurred during partial...
ON - Province launches consultation process for 2022-23 Budget
The province has launched the virtual consultation process leading to the release of Ontario’s 2022-23 Budget by the end of March 2022. The Budget consultation process begins on January 17 and will ...
The province has launched the virtual consultation process leading to the release of Ontario’s 2022-23 Budget by the end of March 2022. The Budget consultation process begins on January 17 and will ...
ON - Interest and penalty relief to be provided for small businesses
The Ontario government has announced that small businesses in the province will be provided with a six-month interest-free and penalty-free period with respect to late or insufficient payments of most...
The Ontario government has announced that small businesses in the province will be provided with a six-month interest-free and penalty-free period with respect to late or insufficient payments of most...
ON - Interest Rates - 2022
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - CRA issues TD1 form for Ontario residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Ontario for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for ...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Ontario for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts for ...
ON - Jobs Training Tax Credit extended to 2022
In its recent Economic Outlook and Fiscal Review, the province announced that the existing Jobs Training Tax Credit would be extended to be available throughout 2022. The credit provides eligible Onta...
In its recent Economic Outlook and Fiscal Review, the province announced that the existing Jobs Training Tax Credit would be extended to be available throughout 2022. The credit provides eligible Onta...
ON - Seniors’ Home Safety Tax Credit extended to 2022
In its recent Economic Outlook and Fiscal Review, the province announced that the existing Seniors’ Home Safety Tax Credit would be extended to be available until the end of 2022. That Credit was sc...
In its recent Economic Outlook and Fiscal Review, the province announced that the existing Seniors’ Home Safety Tax Credit would be extended to be available until the end of 2022. That Credit was sc...
ON - Province to provide “staycation” tax credit for 2022
In the 2021 Ontario Economic Outlook and Fiscal Review released on November 4, 2021, the province introduced a new, temporary Ontario Staycation Tax Credit. The refundable credit, which is available f...
In the 2021 Ontario Economic Outlook and Fiscal Review released on November 4, 2021, the province introduced a new, temporary Ontario Staycation Tax Credit. The refundable credit, which is available f...
ON - Provincial minimum wage to increase January 1, 2022
The Ontario government has announced that, effective as of January 1, 2022, the provincial general minimum wage will increase from $14.35 per hour to $15 per hour. As of the same date, the lower liquo...
The Ontario government has announced that, effective as of January 1, 2022, the provincial general minimum wage will increase from $14.35 per hour to $15 per hour. As of the same date, the lower liquo...
ON - Minimum wage increase effective October 1, 2021
Effective as of October 1, 2021, the general minimum wage payable in the province increased by 10 cents, from $14.25 to $14.35 per hour. The minimum wage increase is based on year-over-year changes in...
Effective as of October 1, 2021, the general minimum wage payable in the province increased by 10 cents, from $14.25 to $14.35 per hour. The minimum wage increase is based on year-over-year changes in...
ON - Interest Rates - 2021
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Renewal requirements for provincial identification documents reinstated
In March of 2020, as part of its pandemic response, the government of Ontario announced that it was suspending the requirement that individuals renew their driver’s licences, health cards, and vehic...
In March of 2020, as part of its pandemic response, the government of Ontario announced that it was suspending the requirement that individuals renew their driver’s licences, health cards, and vehic...
ON - Province announces launch of Ontario Business Registry
The province has announced that, beginning on October 19, 2021, the Ontario Business Registry will be brought online. That registry will enable Ontario businesses to effect online a significant number...
The province has announced that, beginning on October 19, 2021, the Ontario Business Registry will be brought online. That registry will enable Ontario businesses to effect online a significant number...
ON - Province releases details of first quarter finances for 2021-22
The Ontario government has released details of the province’s financial position at the end of the first quarter (April 1 to June 30) of the 2021-22 fiscal year. The update is the first issued since...
The Ontario government has released details of the province’s financial position at the end of the first quarter (April 1 to June 30) of the 2021-22 fiscal year. The update is the first issued since...
ON - Minimum wage increase to take effect October 1, 2021
Effective as of October 1, 2021, the Ontario general minimum wage will increase by 10 cents, from $14.25 to $14.35 per hour. Increases to the minimum wage are based on changes to the province’s Cons...
Effective as of October 1, 2021, the Ontario general minimum wage will increase by 10 cents, from $14.25 to $14.35 per hour. Increases to the minimum wage are based on changes to the province’s Cons...
ON - Small businesses eligible for grant to enhance online presence
The provincial government has announced that eligible Ontario small business may receive a $2,500 Digital Transformation Grant. The grant can be used to purchase new technology and digital services, t...
The provincial government has announced that eligible Ontario small business may receive a $2,500 Digital Transformation Grant. The grant can be used to purchase new technology and digital services, t...
ON - Interest Rates - 2021
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Province announces residential rent increase guideline for 2022
The government of Ontario has announced that, for the 2022 calendar year, the general rent increase guideline for residential rental premises will be 1.2%. That guideline is based on year-over-year ch...
The government of Ontario has announced that, for the 2022 calendar year, the general rent increase guideline for residential rental premises will be 1.2%. That guideline is based on year-over-year ch...
ON - Province extends post-secondary tuition freeze
The Ontario government has announced that the tuition freeze for universities and colleges which was implemented last year will be extended through the 2021-22 academic year. The announcement of the e...
The Ontario government has announced that the tuition freeze for universities and colleges which was implemented last year will be extended through the 2021-22 academic year. The announcement of the e...
ON - Ontario Regional Opportunities Investment Tax Credit doubled
The Ontario Regional Opportunities Investment Tax Credit is a 10% refundable tax credit available to Canadian-controlled private corporations that make qualifying investments in eligible geographic ar...
The Ontario Regional Opportunities Investment Tax Credit is a 10% refundable tax credit available to Canadian-controlled private corporations that make qualifying investments in eligible geographic ar...
ON - Province announces temporary increase to CARE program
As part of its 2021-22 Budget, the Ontario government announced a temporary increase in the support provided by the Childcare Access and Relief from Expenses (CARE) tax credit for 2021. That credit pr...
As part of its 2021-22 Budget, the Ontario government announced a temporary increase in the support provided by the Childcare Access and Relief from Expenses (CARE) tax credit for 2021. That credit pr...
ON - Interest Rates - 2021
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Temporary jobs training tax credit announced in 2021-22 Budget
This year’s Ontario Budget included an announcement of a new jobs training tax credit for Ontario residents. The refundable credit, which is available only for the 2021 tax year, is equal to 50% of ...
This year’s Ontario Budget included an announcement of a new jobs training tax credit for Ontario residents. The refundable credit, which is available only for the 2021 tax year, is equal to 50% of ...
ON – Ontario Budget 2021-22 includes extension of Ontario Small Business Support Grant program
As part of its pandemic response, the Ontario government provided small businesses in the province with a grant program — the Ontario Small Business Support Grant. That grant provided direct payment...
As part of its pandemic response, the Ontario government provided small businesses in the province with a grant program — the Ontario Small Business Support Grant. That grant provided direct payment...
ON - Date announced for 2021-22 provincial Budget
The Ontario government has announced that the province’s Budget for the upcoming 2021-22 fiscal year will be brought down on Wednesday March 24, 2021. When the Budget is released, the budget papers ...
The Ontario government has announced that the province’s Budget for the upcoming 2021-22 fiscal year will be brought down on Wednesday March 24, 2021. When the Budget is released, the budget papers ...
ON - Province releases third quarter financial report for 2020-21
The provincial government has released the revenue, expenditure, and projected deficit figures for the third quarter (October 1 – December 31) of the 2020-21 fiscal year. Based on those figures, the...
The provincial government has released the revenue, expenditure, and projected deficit figures for the third quarter (October 1 – December 31) of the 2020-21 fiscal year. Based on those figures, the...
ON - Application process open for Small Business Support Grant program
The province of Ontario provides a grant of between $10,000 and $20,000 for eligible small businesses which were affected by the province-wide shutdown which began on December 26, 2020. The applicatio...
The province of Ontario provides a grant of between $10,000 and $20,000 for eligible small businesses which were affected by the province-wide shutdown which began on December 26, 2020. The applicatio...
ON - Province launches 2021 Budget consultation process
The Ontario government has launched its consultation process with respect to the upcoming 2021-22 provincial Budget. That Budget will be brought down by March 31, 2021. The Budget consultation process...
The Ontario government has launched its consultation process with respect to the upcoming 2021-22 provincial Budget. That Budget will be brought down by March 31, 2021. The Budget consultation process...
ON - Individual income tax rates and brackets for 2021
During the 2021 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
During the 2021 taxation year the province of Ontario will levy individual income tax using the following income brackets and tax rates. Tax Rate ...
ON - Personal tax credit amounts for 2021
The province of Ontario will provide the following personal tax amounts for 2021. Basic personal amount ………………………………… $10,880 Spouse or common law partner amount …… $9,...
The province of Ontario will provide the following personal tax amounts for 2021. Basic personal amount ………………………………… $10,880 Spouse or common law partner amount …… $9,...
ON - Interest Rates - 2021
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Province extends filing and expenditure deadlines for cultural industry tax credits
The province of Ontario provides a number of tax credits for companies in the film, television, and digital media industries. Those credits included the Film and Television Tax Credit, the Ontario Pro...
The province of Ontario provides a number of tax credits for companies in the film, television, and digital media industries. Those credits included the Film and Television Tax Credit, the Ontario Pro...
ON - December 31, 2020 deadline for filing of provincial R&D tax credit claims
In the Economic Statement announced in March 2020, the provincial government announced that a number of filing deadlines relating to provincial corporate tax credits would be extended. One of the affe...
In the Economic Statement announced in March 2020, the provincial government announced that a number of filing deadlines relating to provincial corporate tax credits would be extended. One of the affe...
ON - Application process for Support for Learners subsidy now open
In early November the Ontario government announced that a subsidy would be provided to families with children up to age of 12 (or age 21 in the case of children with special needs).The purpose of the ...
In early November the Ontario government announced that a subsidy would be provided to families with children up to age of 12 (or age 21 in the case of children with special needs).The purpose of the ...
ON - Ontario Finance updates and re-issues Notice of Objection form
Ontario taxpayers who disagree with an assessment of their tax liability under a range of provincial tax programs are entitled to object to that assessment. The Ontario government has updated and re-i...
Ontario taxpayers who disagree with an assessment of their tax liability under a range of provincial tax programs are entitled to object to that assessment. The Ontario government has updated and re-i...
ON - Province increases exemption threshold for Employer Health Tax
The Employer Health Tax (EHT) is a payroll tax paid by employers based on their total annual Ontario remuneration in excess of a remuneration threshold. The EHT has a top rate of 1.95%. In March 2020 ...
The Employer Health Tax (EHT) is a payroll tax paid by employers based on their total annual Ontario remuneration in excess of a remuneration threshold. The EHT has a top rate of 1.95%. In March 2020 ...
ON - 2020-21 Budget projects current year deficit of $38.5 billion
In the 2020-21 Budget brought down on November 5, the government of Ontario projected a deficit of $38.5 billion for the current fiscal year. That deficit amount is unchanged from the figure projected...
In the 2020-21 Budget brought down on November 5, the government of Ontario projected a deficit of $38.5 billion for the current fiscal year. That deficit amount is unchanged from the figure projected...
ON - Province introduces Seniors’ Home Safety Tax Credit
In the 2020 Budget brought down on November 5, the province introduced a new refundable tax credit for seniors. That credit will be claimable by senior homeowners, renters, or people who live with rel...
In the 2020 Budget brought down on November 5, the province introduced a new refundable tax credit for seniors. That credit will be claimable by senior homeowners, renters, or people who live with rel...
ON - Provincial Budget to be brought down on November 5
The Ontario government has announced that the 2020-21 provincial Budget will be brought down on Thursday November 5, 2020. In the announcement of the Budget date, which is available on the provincial ...
The Ontario government has announced that the 2020-21 provincial Budget will be brought down on Thursday November 5, 2020. In the announcement of the Budget date, which is available on the provincial ...
ON - Interest Rates - 2020
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each quarter of the calendar year. The rates presc...
ON - Province releases Public Accounts for 2019-20 fiscal year
Ontario has released the province’s final fiscal results for the fiscal year ended March 31, 2020. The 2019-20 Public Accounts compare those final fiscal results with the figures projected in the 20...
Ontario has released the province’s final fiscal results for the fiscal year ended March 31, 2020. The 2019-20 Public Accounts compare those final fiscal results with the figures projected in the 20...
ON - Province to implement residential rent freeze for 2021
The Ontario government has announced that a rent freeze will be imposed for the 2021 calendar year for most residential rental accommodation in the province. While Ontario already has rent control leg...
The Ontario government has announced that a rent freeze will be imposed for the 2021 calendar year for most residential rental accommodation in the province. While Ontario already has rent control leg...
ON - Interest and penalty relief period to end October 1, 2020
As part of its pandemic response measures, the Ontario government provided businesses with relief from penalties and interest charges related to late filings or remittances, for a six-month period. Th...
As part of its pandemic response measures, the Ontario government provided businesses with relief from penalties and interest charges related to late filings or remittances, for a six-month period. Th...
ON - Province extends change to temporary layoff rules
Under Ontario labour laws, where a non-unionized employee is laid off for more than 13 weeks, said layoff can trigger termination and severance payment obligations for the employer. However, earlier...
Under Ontario labour laws, where a non-unionized employee is laid off for more than 13 weeks, said layoff can trigger termination and severance payment obligations for the employer. However, earlier...
ON - CRA issues warning on tax scam and Ontario tax benefits
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of a current tax scam relating to claims for Ontario tax benefits — specifically, claims for the Ontario Senior Homeowners Property ...
The Canada Revenue Agency (CRA) has issued a warning to taxpayers of a current tax scam relating to claims for Ontario tax benefits — specifically, claims for the Ontario Senior Homeowners Property ...
ON - Minimum wage to increase effective October 1, 2020
On October 1, 2020, the Ontario general minimum wage will increase by 25 cents, to $14.25 per hour. That increase is based on changes to the Ontario Consumer Price Index. Different minimum wage rates ...
On October 1, 2020, the Ontario general minimum wage will increase by 25 cents, to $14.25 per hour. That increase is based on changes to the Ontario Consumer Price Index. Different minimum wage rates ...
ON - Interest and penalty relief program extended
In March 2020, the Ontario government announced that, as part of its pandemic response plan, it would provide an interest and penalty relief period for Ontario taxpayers with respect to specific tax p...
In March 2020, the Ontario government announced that, as part of its pandemic response plan, it would provide an interest and penalty relief period for Ontario taxpayers with respect to specific tax p...
ON - Province extends commercial rent assistance program
The provincial government has announced that its commercial rent assistance program — Canada Emergency Commercial Rent Assistance (CECRA) — has been extended to be available until the end of Augus...
The provincial government has announced that its commercial rent assistance program — Canada Emergency Commercial Rent Assistance (CECRA) — has been extended to be available until the end of Augus...
ON - Tax penalty and interest relief period ends August 31
In March 2020 the provincial government announced that, as part of its pandemic response plan, a five-month interest and penalty relief period would be provided to Ontario businesses which failed to f...
In March 2020 the provincial government announced that, as part of its pandemic response plan, a five-month interest and penalty relief period would be provided to Ontario businesses which failed to f...
ON - Limits to be imposed on payday loan interest rates and fees
The provincial government has announced that it will be moving to impose limits on the rate of interest and certain fees which can be levied by payday loan companies. The proposed changes would cap th...
The provincial government has announced that it will be moving to impose limits on the rate of interest and certain fees which can be levied by payday loan companies. The proposed changes would cap th...
ON - Interest Rates - 2020
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute at the beginning of each calendar quarter. The rates set for the third quarter...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute at the beginning of each calendar quarter. The rates set for the third quarter...
ON - Application process for commercial rent assistance program open
Applications can now be made by commercial landlords in Ontario for forgivable loans to assist with pandemic-related losses of rental income. Under the Canada Emergency Commercial Rent Assistance (CEC...
Applications can now be made by commercial landlords in Ontario for forgivable loans to assist with pandemic-related losses of rental income. Under the Canada Emergency Commercial Rent Assistance (CEC...
ON - Province provides temporary deferral of student loan payments
As part of its pandemic response plan, the province is providing interest relief and payment deferrals on existing Ontario Student Assistance Program (OSAP) loans. Under that plan, OSAP borrowers will...
As part of its pandemic response plan, the province is providing interest relief and payment deferrals on existing Ontario Student Assistance Program (OSAP) loans. Under that plan, OSAP borrowers will...
ON - Forgivable loan program for eligible small business landlords
The Ontario government will be providing forgivable loans to eligible commercial property owners in the province who are experiencing rent shortfalls due to the pandemic, through the new Ontario-Canad...
The Ontario government will be providing forgivable loans to eligible commercial property owners in the province who are experiencing rent shortfalls due to the pandemic, through the new Ontario-Canad...
ON - Interest and penalty relief for Ontario businesses
As part of its recent Economic and Fiscal Update, the province announced that interest and penalty relief would be provided to Ontario businesses with respect to their obligations under specified tax ...
As part of its recent Economic and Fiscal Update, the province announced that interest and penalty relief would be provided to Ontario businesses with respect to their obligations under specified tax ...
ON - Interest Rates - 2020
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Province provides temporary increase in Employer Health Tax thresholds
Ontario imposes an Employer Health (payroll) Tax which is levied on employers having an annual payroll over $490,000. As part of the tax relief measures announced in the recent Economic and Fiscal Up...
Ontario imposes an Employer Health (payroll) Tax which is levied on employers having an annual payroll over $490,000. As part of the tax relief measures announced in the recent Economic and Fiscal Up...
ON - Province to provide interest and penalty relief for businesses
In the Economic and Fiscal Update brought down on March 25 Ontario’s Minister of Finance announced that, beginning April 1, 2020, penalties and interest will not be imposed on Ontario businesses tha...
In the Economic and Fiscal Update brought down on March 25 Ontario’s Minister of Finance announced that, beginning April 1, 2020, penalties and interest will not be imposed on Ontario businesses tha...
ON - Province to bring down Economic and Fiscal update on March 25
The Ontario government had announced that the province’s 2020-21 Budget would be brought down on March 25, 2020. The Ontario Minister of Finance has indicated that, in light of recent developments, ...
The Ontario government had announced that the province’s 2020-21 Budget would be brought down on March 25, 2020. The Ontario Minister of Finance has indicated that, in light of recent developments, ...
ON - Province announces date for 2020-21 Budget
The Ontario government has announced that the province’s Budget for the upcoming (2020-21) fiscal year will be brought down on Wednesday March 25, 2020. Once the Budget is released, the Budget paper...
The Ontario government has announced that the province’s Budget for the upcoming (2020-21) fiscal year will be brought down on Wednesday March 25, 2020. Once the Budget is released, the Budget paper...
ON - Province releases third-quarter results for 2019-20
The Ontario Ministry of Finance has announced the province’s financial results for the third quarter (October to December 2019) of its 2019-20 fiscal year. As of December 31, 2019, the government is...
The Ontario Ministry of Finance has announced the province’s financial results for the third quarter (October to December 2019) of its 2019-20 fiscal year. As of December 31, 2019, the government is...
ON - 2019 tax return package for Ontario residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Ontario as of December 31, 2019. That return and guide can be fo...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Ontario as of December 31, 2019. That return and guide can be fo...
ON - Small business corporate income tax rate reduced effective January 1, 2020
The corporate income tax rate levied on active business income of eligible Ontario corporations was reduced to 3.2%, effective as of January 1, 2020. The rate change will be pro-rated for non-calendar...
The corporate income tax rate levied on active business income of eligible Ontario corporations was reduced to 3.2%, effective as of January 1, 2020. The rate change will be pro-rated for non-calendar...
ON - Interest Rates - 2020
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Personal tax credit amounts for 2020
The province of Ontario will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $10,783 Spouse or common law partner amount ...
The province of Ontario will provide the following personal tax credit amounts for 2020: Basic personal amount ……………………………… $10,783 Spouse or common law partner amount ...
ON - Small business income tax rate to be reduced effective January 1, 2020
As announced in the 2019 Economic Outlook and Fiscal Review, the provincial small business corporate income tax rate will be reduced, effective as of January 1, 2020. As of that date, the rate will dr...
As announced in the 2019 Economic Outlook and Fiscal Review, the provincial small business corporate income tax rate will be reduced, effective as of January 1, 2020. As of that date, the rate will dr...
ON - Province projects balanced budget by 2023
In the 2019 Ontario Economic Outlook and Fiscal Review released by the provincial government on November 7, the Minister of Finance confirmed the government’s commitment to balance the budget by 202...
In the 2019 Ontario Economic Outlook and Fiscal Review released by the provincial government on November 7, the Minister of Finance confirmed the government’s commitment to balance the budget by 202...
ON - Small business income tax rate to be reduced
In the fall Economic Outlook and Fiscal Review released on November 6, the Minister of Finance announced that the provincial corporate income tax rate applied to Ontario small businesses will be reduc...
In the fall Economic Outlook and Fiscal Review released on November 6, the Minister of Finance announced that the provincial corporate income tax rate applied to Ontario small businesses will be reduc...
ON - Date announced for 2019 Fall Economic Statement
The Ontario Minister of Finance has announced that the 2019 Fall Economic Statement will be brought down on Wednesday November 6, 2019. That economic statement will update the revenue, expenditure, an...
The Ontario Minister of Finance has announced that the 2019 Fall Economic Statement will be brought down on Wednesday November 6, 2019. That economic statement will update the revenue, expenditure, an...
ON - Interest Rates - 2019
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Province releases financial results for 2018-19
The Ontario government has released the Public Accounts which summarize the province’s financial position at the end of the 2018-19 fiscal year, which ended March 31, 2019. The related press release...
The Ontario government has released the Public Accounts which summarize the province’s financial position at the end of the 2018-19 fiscal year, which ended March 31, 2019. The related press release...
ON - Information issued on upcoming changes to Estate Administration Tax
The province of Ontario levies an Estate Administration Tax (formerly known as probate fees) on the total value of the estate of a deceased person. In this year’s budget, the provincial government a...
The province of Ontario levies an Estate Administration Tax (formerly known as probate fees) on the total value of the estate of a deceased person. In this year’s budget, the provincial government a...
ON - Province releases financial results for first quarter of 2019-20
The Ontario government has released the province’s financial results for the first quarter (April 1 – June 30) of the 2019-2020 fiscal year. Those results indicate that the deficit projection for ...
The Ontario government has released the province’s financial results for the first quarter (April 1 – June 30) of the 2019-2020 fiscal year. Those results indicate that the deficit projection for ...
ON - Land transfer tax refund for first-time home buyers
The province of Ontario levies a land transfer tax (LTT) on each purchase and sale of property in the province. The province also provides first-time homebuyers in Ontario with a refund of LTT which w...
The province of Ontario levies a land transfer tax (LTT) on each purchase and sale of property in the province. The province also provides first-time homebuyers in Ontario with a refund of LTT which w...
ON - Online calculator available for 2019-20 Ontario tax credits
The province of Ontario provides residents with a number of refundable tax credits, with eligibility for those credits based on age, income, and type and place of residence. The current benefit year f...
The province of Ontario provides residents with a number of refundable tax credits, with eligibility for those credits based on age, income, and type and place of residence. The current benefit year f...
ON - Interest Rates - 2019
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Updated bulletin issued on non-resident speculation tax (NRST)
Ontario imposes a 15% non-resident speculation tax (NRST) on purchases of residential property located in the Greater Golden Horseshoe Region (GGH) by individuals who are not citizens or permanent res...
Ontario imposes a 15% non-resident speculation tax (NRST) on purchases of residential property located in the Greater Golden Horseshoe Region (GGH) by individuals who are not citizens or permanent res...
ON - Province announces new tax credit for low-income working taxpayers
In its 2019-20 Budget, the Ontario government announced a new non-refundable tax credit for lower-income working residents of the province. That credit, the Low-income Individuals and Families Tax (LI...
In its 2019-20 Budget, the Ontario government announced a new non-refundable tax credit for lower-income working residents of the province. That credit, the Low-income Individuals and Families Tax (LI...
ON - Budget reduces and simplifies Estate Administration Tax
The province of Ontario levies an Estate Administration Tax (EAT), which is more commonly known as probate fees. In the 2019-20 Budget, the province announced that changes would be made to the EAT, as...
The province of Ontario levies an Estate Administration Tax (EAT), which is more commonly known as probate fees. In the 2019-20 Budget, the province announced that changes would be made to the EAT, as...
ON - Province to balance Budget in 2023-24
The 2019-20 Ontario Budget released on April 11, 2019 indicates that the province will not achieve a balanced budget until the 2023-24 fiscal year. The Budget papers show that the province expects the...
The 2019-20 Ontario Budget released on April 11, 2019 indicates that the province will not achieve a balanced budget until the 2023-24 fiscal year. The Budget papers show that the province expects the...
ON - Province introduces new child care tax credit
The 2019-20 provincial Budget brought down on April 11 included the announcement of a new refundable child care tax credit, claimable for the 2019 and subsequent taxation years. The new credit will be...
The 2019-20 provincial Budget brought down on April 11 included the announcement of a new refundable child care tax credit, claimable for the 2019 and subsequent taxation years. The new credit will be...
ON - Interest Rates - 2019
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Date announced for 2019-20 provincial Budget
The Ontario government has announced that the province’s Budget for the upcoming (2019-20) fiscal year will be brought down on Thursday April 11, 2019. Once the Budget is released, the Budget papers...
The Ontario government has announced that the province’s Budget for the upcoming (2019-20) fiscal year will be brought down on Thursday April 11, 2019. Once the Budget is released, the Budget papers...
ON - Third quarter update shows reduced deficit
The provincial government has issued its fiscal update for the Third Quarter of the 2018-19 year, and that update shows a $1 billion reduction in the province’s deficit. That deficit is now projecte...
The provincial government has issued its fiscal update for the Third Quarter of the 2018-19 year, and that update shows a $1 billion reduction in the province’s deficit. That deficit is now projecte...
ON - Province launches consultation on governance of real estate professionals
The Ontario government has announced that it will be carrying out a consultation process with respect to the laws which govern real estate professionals in Ontario. The process will address a broad ra...
The Ontario government has announced that it will be carrying out a consultation process with respect to the laws which govern real estate professionals in Ontario. The process will address a broad ra...
ON - Consultation process underway on changes to automobile insurance
The provincial government has announced that it will be holding a consultation process with respect to changes to the provincial automobile insurance program. Both consumers and businesses can provide...
The provincial government has announced that it will be holding a consultation process with respect to changes to the provincial automobile insurance program. Both consumers and businesses can provide...
ON - Interest Rates - 2019
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - CRA issues supplementary 2019 payroll deduction tables for Ontario residents
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Ontario during the 2019 tax year. The supplement, which can be found on the CRA website at...
The Canada Revenue Agency has issued a supplement to the payroll deduction tables to be used for residents of Ontario during the 2019 tax year. The supplement, which can be found on the CRA website at...
ON - Province launches 2019-20 Budget consultation process
The Ontario Minister of Finance has announced the start of the consultation process leading to the release of the province’s 2019-20 Budget next spring. There are several options for Ontario residen...
The Ontario Minister of Finance has announced the start of the consultation process leading to the release of the province’s 2019-20 Budget next spring. There are several options for Ontario residen...
ON - Payroll tax exemption level increased for 2019
In the recent Economic Outlook and Fiscal Review, the Ontario Minister of Finance announced that the annual payroll threshold for the province’s Employer Health (payroll) Tax (EHT) would be increase...
In the recent Economic Outlook and Fiscal Review, the Ontario Minister of Finance announced that the annual payroll threshold for the province’s Employer Health (payroll) Tax (EHT) would be increase...
ON - Personal tax credit amounts for 2019
The province of Ontario will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $10,582 Spouse or equivalent to spouse amount …...
The province of Ontario will provide the following personal tax credit amounts for 2019: Basic personal amount ………………………………… $10,582 Spouse or equivalent to spouse amount …...
ON - Province reverses planned 2019 minimum wage increase
The Ontario government has reversed the minimum wage increase which had been scheduled to take effect on January 1, 2019. On that date, the minimum wage was scheduled to increase from $14 to $15 per h...
The Ontario government has reversed the minimum wage increase which had been scheduled to take effect on January 1, 2019. On that date, the minimum wage was scheduled to increase from $14 to $15 per h...
ON - Province announces new tax credit to help low-income individuals and families
In the 2018 Economic Outlook and Fiscal Review issued on November 15, the provincial government announced that, beginning with the 2019 tax year, low-income individuals and families will be eligible f...
In the 2018 Economic Outlook and Fiscal Review issued on November 15, the provincial government announced that, beginning with the 2019 tax year, low-income individuals and families will be eligible f...
ON - Province offers property tax deferral program
The province provides a program under which low-income seniors and low-income persons with disabilities can obtain a partial deferral of property tax and education tax. The tax deferral applies to the...
The province provides a program under which low-income seniors and low-income persons with disabilities can obtain a partial deferral of property tax and education tax. The tax deferral applies to the...
ON - Interest Rates - 2018
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Increases to driver licensing fees cancelled
The government of Ontario has announced that planned fee increases with respect to licensing fees for drivers in the province, which were to have taken effect on September 1, 2018, have been cancelled...
The government of Ontario has announced that planned fee increases with respect to licensing fees for drivers in the province, which were to have taken effect on September 1, 2018, have been cancelled...
ON - Registering for online tax services for business
The Ontario government provides an online service – ONT-TAXS, through which Ontario businesses can file and amend returns, make tax payments, and track the status of such returns and payments. The s...
The Ontario government provides an online service – ONT-TAXS, through which Ontario businesses can file and amend returns, make tax payments, and track the status of such returns and payments. The s...
ON - Ontario Trillium Benefit amounts for 2018-19 benefit year
The new benefit year for the Ontario Trillium Benefit (OTB) began in July 2018 and will run until June 2019. The OTB is a refundable tax credit which is claimed on the annual tax return and paid to ta...
The new benefit year for the Ontario Trillium Benefit (OTB) began in July 2018 and will run until June 2019. The OTB is a refundable tax credit which is claimed on the annual tax return and paid to ta...
ON - 2018 personal income tax rates
As announced in this year’s provincial Budget, Ontario has altered its personal tax rate structure. The changes announced include the elimination of the provincial surtax and the replacement of the ...
As announced in this year’s provincial Budget, Ontario has altered its personal tax rate structure. The changes announced include the elimination of the provincial surtax and the replacement of the ...
ON - Provincial cap-and-trade system eliminated as of July 3
The Ontario government has announced that the existing cap-and-trade carbon tax system will be eliminated, effective as from July 3, and that provincial government programs which were funded under tha...
The Ontario government has announced that the existing cap-and-trade carbon tax system will be eliminated, effective as from July 3, and that provincial government programs which were funded under tha...
ON - Interest Rates – 2018
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - CRA issues source deductions online calculator for Ontario
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by Ontario employers in calculating employee source deductions starting July 1, 2018. The updated vers...
The Canada Revenue Agency (CRA) has re-issued the payroll deductions online calculator to be used by Ontario employers in calculating employee source deductions starting July 1, 2018. The updated vers...
ON - July 1st start of 2018-19 tax credit benefit year
The province provides eligible Ontario residents with a number of refundable tax credits and benefits. Those benefits are paid on a monthly basis, and eligibility for most benefits is based, in part, ...
The province provides eligible Ontario residents with a number of refundable tax credits and benefits. Those benefits are paid on a monthly basis, and eligibility for most benefits is based, in part, ...
ON - Provincial R&D tax credit enhanced
The Ontario Research and Development Tax Credit (ORDTC) is a 3.5% non-refundable tax credit earned on eligible R&D expenditures. As announced in this year’s provincial Budget, eligible busines...
The Ontario Research and Development Tax Credit (ORDTC) is a 3.5% non-refundable tax credit earned on eligible R&D expenditures. As announced in this year’s provincial Budget, eligible busines...
ON - 2018-19 Budget changes affecting seniors enacted
The Ontario government recently enacted legislation to implement announcements made in this year’s provincial budget. Those announcements include two changes affecting seniors in the province, as fo...
The Ontario government recently enacted legislation to implement announcements made in this year’s provincial budget. Those announcements include two changes affecting seniors in the province, as fo...
ON - Increased consumer access to credit reporting information
The provincial government has announced changes that will provide Ontario residents with increased access to personal information held by credit reporting agencies. Under the new rules, certain credit...
The provincial government has announced changes that will provide Ontario residents with increased access to personal information held by credit reporting agencies. Under the new rules, certain credit...
ON - Filing a tax return to receive provincial benefits for 2018-19
The province of Ontario provides a number of tax credits to individual residents of the province, and those benefits are paid on monthly basis. The next benefit year will start in July 2018 and run un...
The province of Ontario provides a number of tax credits to individual residents of the province, and those benefits are paid on monthly basis. The next benefit year will start in July 2018 and run un...
ON - Province increases charitable donation tax credit
In this year’s Budget, the provincial government announced that the non-refundable tax credit provided to taxpayers who make qualifying donations to charity would be increased. The credit is a two-l...
In this year’s Budget, the provincial government announced that the non-refundable tax credit provided to taxpayers who make qualifying donations to charity would be increased. The credit is a two-l...
ON - Interest Rates - 2018
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - Budget proposes changes to provincial personal income tax structure
The Ontario Budget for the 2018-19 fiscal year, which was brought down on March 28, included the announcement of changes to the province’s personal income tax rate structure, with such changes havin...
The Ontario Budget for the 2018-19 fiscal year, which was brought down on March 28, included the announcement of changes to the province’s personal income tax rate structure, with such changes havin...
ON - Changes to employment standards laws to take effect April 1, 2018
Previously announced changes to Ontario’s employment standards laws will take effect on April 1, 2018. The upcoming changes will, for the most part, affect temporary, part-time, and seasonal employe...
Previously announced changes to Ontario’s employment standards laws will take effect on April 1, 2018. The upcoming changes will, for the most part, affect temporary, part-time, and seasonal employe...
ON - Province announces date for 2018-19 Budget
The provincial government has announced that Ontario’s 2018-19 Budget will be brought down by the Minister of Finance on Wednesday, March 28 at around 4 p.m. Once the Budget is announced, the Budget...
The provincial government has announced that Ontario’s 2018-19 Budget will be brought down by the Minister of Finance on Wednesday, March 28 at around 4 p.m. Once the Budget is announced, the Budget...
ON - Personal tax credit amounts for 2018
The province of Ontario will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,354 Spouse or equivalent to spouse amount ...
The province of Ontario will provide the following personal tax credit amounts for 2018: Basic personal amount ………………………………… $10,354 Spouse or equivalent to spouse amount ...
ON - Province bans unsolicited door-to-door sales of specified home products
The provincial government has announced that, effective as of March 1, 2018, unsolicited door-to-door sales of the following appliances will no longer be permitted: air cleaners, air conditioners, a...
The provincial government has announced that, effective as of March 1, 2018, unsolicited door-to-door sales of the following appliances will no longer be permitted: air cleaners, air conditioners, a...
ON - Province releases third-quarter fiscal results for 2017-18
The release of Ontario’s Third Quarter Finances report indicates that the province remains on track to balance the budget for the 2017-18 fiscal year, although the amount of the projected surplus ha...
The release of Ontario’s Third Quarter Finances report indicates that the province remains on track to balance the budget for the 2017-18 fiscal year, although the amount of the projected surplus ha...
ON - Province to require standard form residential lease as of April 30
The provincial government has announced that, effective for leases signed on or after April 30, 2018, residential landlords in Ontario will be required to use a new standard-form, plain-language lease...
The provincial government has announced that, effective for leases signed on or after April 30, 2018, residential landlords in Ontario will be required to use a new standard-form, plain-language lease...
ON - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Ontario will levy personal income tax based on the following tax rates and brackets. 05% on taxable income between $10,354 and $42,960; 15% on taxable income ...
For the 2018 tax year, the province of Ontario will levy personal income tax based on the following tax rates and brackets. 05% on taxable income between $10,354 and $42,960; 15% on taxable income ...
ON - Payment dates for Ontario Trillium Benefit for 2018
The province of Ontario provides a number of refundable tax credits to individual residents of the province. Several of those credits are combined and paid as a single monthly benefit — the Ontario ...
The province of Ontario provides a number of refundable tax credits to individual residents of the province. Several of those credits are combined and paid as a single monthly benefit — the Ontario ...
ON - Consultation process for 2018-19 provincial Budget announced
The government of Ontario has announced the launch of its pre-budget consultation process leading to the release of the province’s 2018-19 Budget. That budget consultation process has several compon...
The government of Ontario has announced the launch of its pre-budget consultation process leading to the release of the province’s 2018-19 Budget. That budget consultation process has several compon...
ON - CRA releases 2017 T1 tax return form for Ontario residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Ontario at the end of that year. The T1 form package (w...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Ontario at the end of that year. The T1 form package (w...
ON - Interest Rates – 2018
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The rates levied and paid f...
ON - 2018 payroll deduction tables for provincial income tax released
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Ontario employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
The Canada Revenue Agency (CRA) has issued the payroll deduction tables which Ontario employers will use to determine employee source deductions for federal and provincial income tax, Canada Pension P...
ON - 2018 Ontario TD1 Form and TD1 Worksheet released
The Canada Revenue Agency has issued the Ontario TD1 form and worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
The Canada Revenue Agency has issued the Ontario TD1 form and worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax sourc...
ON - Changes enacted to provincial employment standards
The Ontario government has enacted a number of changes to the province’s employment standards laws, and those changes include the following: the Ontario minimum wage will increase to $14 per hour o...
The Ontario government has enacted a number of changes to the province’s employment standards laws, and those changes include the following: the Ontario minimum wage will increase to $14 per hour o...
ON - Apprenticeship training tax credit eliminated
The province of Ontario provided employers who hired and trained eligible apprentices in designated construction, industrial and motive power, and certain service trades with a refundable tax credit, ...
The province of Ontario provided employers who hired and trained eligible apprentices in designated construction, industrial and motive power, and certain service trades with a refundable tax credit, ...
ON - Province to reduce small business tax rate in 2018
In the 2017 Economic and Fiscal Review issued on November 14, Ontario’s Minister of Finance announced that the provincial small business tax rate would be reduced, effective as of January 1, 2018, f...
In the 2017 Economic and Fiscal Review issued on November 14, Ontario’s Minister of Finance announced that the provincial small business tax rate would be reduced, effective as of January 1, 2018, f...
SK - Personal tax credit amounts to increase by $500
The Saskatchewan government recently announced that a number of personal tax exemption amounts would increase by $500, effective for the next four taxation years. The increase, which is in addition to...
The Saskatchewan government recently announced that a number of personal tax exemption amounts would increase by $500, effective for the next four taxation years. The increase, which is in addition to...
SK - Two-month GST holiday to begin December 14, 2024
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
As announced by the federal government last month, a two-month holiday from the imposition of the federal goods and services tax/harmonized sales tax (GST/HST) will be provided on sales of specified t...
SK - New Information Notice issued on meeting tax obligations during postal disruption
Saskatchewan Finance has issued a new Information Notice (IN 2024-02) reminding taxpayers that, regardless of any interruption in postal services during the possible upcoming postal disruption, tax re...
Saskatchewan Finance has issued a new Information Notice (IN 2024-02) reminding taxpayers that, regardless of any interruption in postal services during the possible upcoming postal disruption, tax re...
SK - Minimum wage increase to take effect October 1
Effective as of October 1, 2024, the Saskatchewan general minimum wage will increase from $14.00 to $15.00 per hour. The press release announcing the change is available at https://www.saskatchewan.ca...
Effective as of October 1, 2024, the Saskatchewan general minimum wage will increase from $14.00 to $15.00 per hour. The press release announcing the change is available at https://www.saskatchewan.ca...
SK - New Information Bulletin issued on buying and selling a business
Saskatchewan Finance has prepared and issued a new Information Bulletin (PST-77, Buying and Selling a Business) on the provincial sales tax rules which apply where a business is bought or sold. The ne...
Saskatchewan Finance has prepared and issued a new Information Bulletin (PST-77, Buying and Selling a Business) on the provincial sales tax rules which apply where a business is bought or sold. The ne...
SK - Updated Information Bulletins issued on tobacco tax requirements
Saskatchewan Finance has updated and re-issued two Information Bulletins dealing with requirements imposed on suppliers and vendors under the province’s tobacco tax rules. The recently released Bull...
Saskatchewan Finance has updated and re-issued two Information Bulletins dealing with requirements imposed on suppliers and vendors under the province’s tobacco tax rules. The recently released Bull...
SK - Province issues 2024-25 First Quarter Report
The Saskatchewan government has issued its financial report for the First Quarter (April 1 to June 30) of the province’s 2024-25 fiscal year. That First Quarter Report shows that the province’s fi...
The Saskatchewan government has issued its financial report for the First Quarter (April 1 to June 30) of the province’s 2024-25 fiscal year. That First Quarter Report shows that the province’s fi...
SK - Province issues updated Bulletin on container deposit and recycling requirements
Saskatchewan Finance has updated and re-issued its Bulletin (BC-5 - The Saskatchewan Beverage Container Collection and Recycling Program) which outlines the collection, registration, filing, and payme...
Saskatchewan Finance has updated and re-issued its Bulletin (BC-5 - The Saskatchewan Beverage Container Collection and Recycling Program) which outlines the collection, registration, filing, and payme...
SK - Provincial minimum wage to increase effective October 1, 2024
Effective as of October 1, 2024, the general minimum wage payable in Saskatchewan will increase by $1.00, from $14.00 to $15.00 per hour. The press release announcing the increase is available on the ...
Effective as of October 1, 2024, the general minimum wage payable in Saskatchewan will increase by $1.00, from $14.00 to $15.00 per hour. The press release announcing the increase is available on the ...
SK - Saskatchewan Interest Rates - 2024
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2024 are as follows: ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2024 are as follows: ...
SK - Updated Bulletin issued on application of PST to computer sales and services
Saskatchewan Finance has updated and re-issued its Bulletin (PST-7 – Computer Hardware, Software and Computer Services) on the application of provincial sales tax to sales of computer hardware, soft...
Saskatchewan Finance has updated and re-issued its Bulletin (PST-7 – Computer Hardware, Software and Computer Services) on the application of provincial sales tax to sales of computer hardware, soft...
SK - Petroleum Innovation Incentive program extended to 2029
The province provides transferable Crown royalty and freehold production tax credits through the Saskatchewan Petroleum Innovation Incentive (SPII) program. Such credits are available, at a rate of 25...
The province provides transferable Crown royalty and freehold production tax credits through the Saskatchewan Petroleum Innovation Incentive (SPII) program. Such credits are available, at a rate of 25...
SK - Technology Start-Up Incentive program enhanced and extended
Through its Technology Start-Up Incentive (STSI) program, the province provides a non-refundable 45% tax credit to individuals or corporations which invest in early-stage technology businesses which h...
Through its Technology Start-Up Incentive (STSI) program, the province provides a non-refundable 45% tax credit to individuals or corporations which invest in early-stage technology businesses which h...
SK - Province extends application period for commercial innovation tax incentive
The Saskatchewan Commercial Innovation Incentive (SCII) is a tax incentive that provides eligible corporations that commercialize their qualifying intellectual property in Saskatchewan with a reduced ...
The Saskatchewan Commercial Innovation Incentive (SCII) is a tax incentive that provides eligible corporations that commercialize their qualifying intellectual property in Saskatchewan with a reduced ...
SK - Province extends small business income tax rate reduction
In 2020, as part of pandemic relief measures, the government of Saskatchewan reduced the province’s small business income tax rate to 0%. That 0% rate was later extended to apply until June 30, 2023...
In 2020, as part of pandemic relief measures, the government of Saskatchewan reduced the province’s small business income tax rate to 0%. That 0% rate was later extended to apply until June 30, 2023...
SK - Updated Bulletin issued on PST rebate for new home construction
In 2020, the provincial government introduced a new tax credit – the Provincial Sales Tax (PST) Rebate for New Home Construction – which provides a rebate of up to 42% of the PST paid on the purch...
In 2020, the provincial government introduced a new tax credit – the Provincial Sales Tax (PST) Rebate for New Home Construction – which provides a rebate of up to 42% of the PST paid on the purch...
SK - Individual income tax rates and brackets for 2024
During the 2024 taxation year the province of Saskatchewan will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable I...
During the 2024 taxation year the province of Saskatchewan will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable I...
SK - Personal tax credit amounts for 2024
The province of Saskatchewan will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $18,491 Spouse or equivalent to spouse amou...
The province of Saskatchewan will provide the following personal tax credit amounts for 2024: Basic personal amount ……………………………… $18,491 Spouse or equivalent to spouse amou...
SK - Interest Rates - 2024
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is a...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is a...
SK - Interest Rates - 2024
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is a...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2024 is a...
SK - Province to remove federal carbon tax from electric home heating bills
The Saskatchewan government has announced that it has directed Saskatchewan Power to remove the federal carbon tax from electric home heating bills between January 1 and April 30, 2024. Customers of S...
The Saskatchewan government has announced that it has directed Saskatchewan Power to remove the federal carbon tax from electric home heating bills between January 1 and April 30, 2024. Customers of S...
SK - M&P Exporter Tax Incentive Program to end December 31, 2023
Since 2015, the province has provided a non-refundable tax credit to eligible corporations that increase the number of employees engaged in qualifying manufacturing and processing work. That credit ...
Since 2015, the province has provided a non-refundable tax credit to eligible corporations that increase the number of employees engaged in qualifying manufacturing and processing work. That credit ...
SK - Updated Bulletin and Forms issued for new home construction tax rebate
Since April 1, 2020, the province has provided a rebate of provincial sales tax on purchases of newly constructed homes in the province. That program was expanded to provide such a rebate of sales tax...
Since April 1, 2020, the province has provided a rebate of provincial sales tax on purchases of newly constructed homes in the province. That program was expanded to provide such a rebate of sales tax...
SK - Updated bulletin issued on PST registration and reporting requirements
Saskatchewan Finance has updated, renamed, and re-issued its Bulletin (PST-5) on Registration and Reporting requirements for purposes of provincial sales tax. Bulletin PST-5 was formerly entitled Gene...
Saskatchewan Finance has updated, renamed, and re-issued its Bulletin (PST-5) on Registration and Reporting requirements for purposes of provincial sales tax. Bulletin PST-5 was formerly entitled Gene...
SK - Active Families Benefit available for 2023 tax year
The provincial government has issued a reminder to Saskatchewan parents of the current availability of the Active Families Benefit, a tax credit program intended to help offset the cost of enrolling c...
The provincial government has issued a reminder to Saskatchewan parents of the current availability of the Active Families Benefit, a tax credit program intended to help offset the cost of enrolling c...
SK - Updated bulletin issued on provincial sales tax and motor vehicle sales
Saskatchewan Finance has updated and re-issued its provincial sales tax (PST) Bulletin PST-78, dealing with the application of PST to motor vehicle sales in the province. The updated Bulletin, which c...
Saskatchewan Finance has updated and re-issued its provincial sales tax (PST) Bulletin PST-78, dealing with the application of PST to motor vehicle sales in the province. The updated Bulletin, which c...
SK - Provincial minimum wage to increase as of October 1, 2023
Effective as of Sunday October 1, 2023, the provincial general minimum wage will increase by $1.00, from $13.00 to $14.00 per hour. The minimum wage rate is scheduled to increase again, as of October ...
Effective as of Sunday October 1, 2023, the provincial general minimum wage will increase by $1.00, from $13.00 to $14.00 per hour. The minimum wage rate is scheduled to increase again, as of October ...
SK - First Quarter Report shows reduced surplus for 2023-24
The 2023-24 First Quarter Report issued by the province shows a reduction in the 2023-24 surplus amount which was projected in this year’s budget. Overall, that surplus is now expected to be $485.5 ...
The 2023-24 First Quarter Report issued by the province shows a reduction in the 2023-24 surplus amount which was projected in this year’s budget. Overall, that surplus is now expected to be $485.5 ...
SK - Federal government announces livestock tax deferral prescribed areas for 2023
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
The federal Livestock Tax Deferral program allows livestock producers who are forced to sell all or part of their breeding herd due to drought or flooding to defer a portion of their income from such ...
SK - Province to participate in CRA Individual Refund Offset Program
The Financial and Consumer Affairs Authority (FCAA) (an agency of the Saskatchewan government) has announced that as of August 2023 it will be participating in the Canada Revenue Agency (CRA) Individu...
The Financial and Consumer Affairs Authority (FCAA) (an agency of the Saskatchewan government) has announced that as of August 2023 it will be participating in the Canada Revenue Agency (CRA) Individu...
SK - Provincial minimum wage to increase effective October 1, 2023
Changes to the Saskatchewan hourly minimum wage rate are announced on or before June 30 of each year, to take effect on October 1 of that year. The provincial minimum wage was increased on October 1, ...
Changes to the Saskatchewan hourly minimum wage rate are announced on or before June 30 of each year, to take effect on October 1 of that year. The provincial minimum wage was increased on October 1, ...
SK - Climate action incentive payment amounts for 2023-24
Eligible residents of Saskatchewan can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligibl...
Eligible residents of Saskatchewan can receive four quarterly payments during the 2023-24 benefit year under the federal Climate Action Incentive Payment program. For the 2023-24 benefit year, eligibl...
SK - Province posts surplus for 2022-23 fiscal year
The Saskatchewan government has announced that the province ran a surplus of $1.58 billion for the 2022-23 fiscal year which ended on March 31, 2023. That surplus figure represents a $3.05 billion imp...
The Saskatchewan government has announced that the province ran a surplus of $1.58 billion for the 2022-23 fiscal year which ended on March 31, 2023. That surplus figure represents a $3.05 billion imp...
SK - Interest Rates - 2023
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2023 are as follows: ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2023 are as follows: ...
SK - Updated bulletin issued on application of provincial sales tax to growers
Saskatchewan Finance has updated and re-issued provincial sales tax (PST) Bulletin PST-23, on the application of PST to lawn and garden centres, nurseries, greenhouses, gardens, and other growers in t...
Saskatchewan Finance has updated and re-issued provincial sales tax (PST) Bulletin PST-23, on the application of PST to lawn and garden centres, nurseries, greenhouses, gardens, and other growers in t...
SK - Deadline for PST rebate applications for new home purchases extended
In 2020, the province introduced a program under which purchasers of a newly constructed home could claim a partial rebate of provincial sales tax (PST) paid on that purchase, where the total price of...
In 2020, the province introduced a program under which purchasers of a newly constructed home could claim a partial rebate of provincial sales tax (PST) paid on that purchase, where the total price of...
SK - Saskatchewan Mineral Exploration Tax Credit rate increased to 30%
Residents of the province can claim a Saskatchewan Mineral Exploration Tax Credit (SMETC) for investments made in eligible flow-through shares issued by approved mineral exploration companies. Such fl...
Residents of the province can claim a Saskatchewan Mineral Exploration Tax Credit (SMETC) for investments made in eligible flow-through shares issued by approved mineral exploration companies. Such fl...
SK - M&P Exporter Tax Incentive extended to end of 2023
Since 2015, the province has provided a non-refundable tax credit to eligible corporations that increase the number of employees engaged in manufacturing and processing related work. The Manufacturing...
Since 2015, the province has provided a non-refundable tax credit to eligible corporations that increase the number of employees engaged in manufacturing and processing related work. The Manufacturing...
SK - Date announced for 2023-24 budget
The Saskatchewan government has announced that the province’s budget for the upcoming 2023-24 fiscal year will be released on Wednesday March 22. Once the budget measures are announced, the full 202...
The Saskatchewan government has announced that the province’s budget for the upcoming 2023-24 fiscal year will be released on Wednesday March 22. Once the budget measures are announced, the full 202...
SK - Updated Information Bulletin issued on PST charges for admissions and entertainment
Effective as of October 1, 2022, provincial sales tax (PST) applies to charges levied for taxable admissions, entertainment and certain types of recreation in relation to a place or facility, or a sem...
Effective as of October 1, 2022, provincial sales tax (PST) applies to charges levied for taxable admissions, entertainment and certain types of recreation in relation to a place or facility, or a sem...
SK - Information Notice issued on application of PST to pre-paid cards
Saskatchewan Finance has issued an updated Provincial Sales Tax (PST) Information Notice (IN 2023-01), outlining the different tax treatment which applies for PST purposes to sales of gift cards, gift...
Saskatchewan Finance has issued an updated Provincial Sales Tax (PST) Information Notice (IN 2023-01), outlining the different tax treatment which applies for PST purposes to sales of gift cards, gift...
SK - Interest Rates - 2023
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2023 ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2023 ...
SK - Individual income tax rates and brackets for 2023
During the 2023 taxation year the province of Saskatchewan will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Inc...
During the 2023 taxation year the province of Saskatchewan will levy individual income tax using the following income brackets and tax rates. Tax Rate Taxable Inc...
SK - Interest Rates - 2023
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2023 is a...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2023 is a...
SK - Personal tax credit amounts for 2023
The province of Saskatchewan will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $17,661 Spouse or equivalent to spouse amo...
The province of Saskatchewan will provide the following personal tax credit amounts for 2023: Basic personal amount ……………………………… $17,661 Spouse or equivalent to spouse amo...
SK - Interest Rates - 2023
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2023 ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2023 ...
SK - Province updates sales tax bulletins to address federal luxury tax
Saskatchewan Finance has updated and re-issued the following provincial sales tax (PST) bulletins. Among the changes made were clarifications on how PST applies to levies imposed by the federal govern...
Saskatchewan Finance has updated and re-issued the following provincial sales tax (PST) bulletins. Among the changes made were clarifications on how PST applies to levies imposed by the federal govern...
SK - Province releases 2022-23 mid-year financial report
The Saskatchewan government has issued its mid-year financial report for the 2022-23 fiscal year. That report shows that the province is now forecasting a surplus of $1.1 billion for 2022-23, up from ...
The Saskatchewan government has issued its mid-year financial report for the 2022-23 fiscal year. That report shows that the province is now forecasting a surplus of $1.1 billion for 2022-23, up from ...
SK - Home renovation tax credit program to end December 31, 2022
Saskatchewan provides a home renovation tax credit, through which eligible homeowners can claim a 10.5% non-refundable tax credit on up to $9,000 in qualifying home renovation costs incurred during 20...
Saskatchewan provides a home renovation tax credit, through which eligible homeowners can claim a 10.5% non-refundable tax credit on up to $9,000 in qualifying home renovation costs incurred during 20...
SK - PST rebate program for new home construction extended
The province of Saskatchewan provides home buyers with a rebate of the provincial sales tax payable on a new home purchase. That rebate, which was introduced in 2020, is 42 per cent of PST paid (about...
The province of Saskatchewan provides home buyers with a rebate of the provincial sales tax payable on a new home purchase. That rebate, which was introduced in 2020, is 42 per cent of PST paid (about...
SK - Provincial small business income tax holiday extended for one year
In October 2020, as part of its pandemic relief measures, the government of Saskatchewan temporarily reduced the provincial small business income tax rate to zero. This year’s provincial budget incl...
In October 2020, as part of its pandemic relief measures, the government of Saskatchewan temporarily reduced the provincial small business income tax rate to zero. This year’s provincial budget incl...
SK - Saskatchewan Finance revises and re-issues PST bulletin on admissions and entertainment
Earlier this year, the province announced that the 6% provincial sales tax would, effective as of October 1, 2022, apply to charges for admissions, entertainment, and some recreation activities in the...
Earlier this year, the province announced that the 6% provincial sales tax would, effective as of October 1, 2022, apply to charges for admissions, entertainment, and some recreation activities in the...
SK - Provincial sales tax to apply to charges for admissions and entertainment
Effective as of October 1, 2022, provincial sales tax at a rate of 6% will apply to sales of taxable admissions, entertainment, and some recreation activities in Saskatchewan. There are, however, a nu...
Effective as of October 1, 2022, provincial sales tax at a rate of 6% will apply to sales of taxable admissions, entertainment, and some recreation activities in Saskatchewan. There are, however, a nu...
SK - Province to provide one-time payment for cost-of-living assistance
The government of Saskatchewan has announced that, in order to help residents of the province meet increases in the cost of living, it will be providing a one-time non-taxable payment of $500 through ...
The government of Saskatchewan has announced that, in order to help residents of the province meet increases in the cost of living, it will be providing a one-time non-taxable payment of $500 through ...
SK - Minimum wage increase to take effect on October 1, 2022
Effective as of October 1, 2022, the provincial general minimum wage will increase from $11.81 per hour to $13.00. The change is the first in a three-stage increase in the minimum wage. Further increa...
Effective as of October 1, 2022, the provincial general minimum wage will increase from $11.81 per hour to $13.00. The change is the first in a three-stage increase in the minimum wage. Further increa...
SK - December 31, 2022 deadline for Home Renovation Tax Credit program
In 2020 the province introduced a Home Renovation Tax Credit, which provides (for 2022) a 10.5% non-refundable tax credit on up to $10,000 of eligible costs incurred during the year for renovations ma...
In 2020 the province introduced a Home Renovation Tax Credit, which provides (for 2022) a 10.5% non-refundable tax credit on up to $10,000 of eligible costs incurred during the year for renovations ma...
SK - Year-end financial results announced for 2021-22 fiscal year
The province has released the year-end financial results for its 2021-22 fiscal year ended March 31, 2022, and those figures show that the province is in a better financial position than anticipated. ...
The province has released the year-end financial results for its 2021-22 fiscal year ended March 31, 2022, and those figures show that the province is in a better financial position than anticipated. ...
SK - Small business income tax rate increased as of July 1, 2022
Saskatchewan’s small business income tax rate was increased, effective as of July 1, 2022, from 0% to 1.0%. The 0% rate was a temporary measure put in place during the pandemic to provide relief to ...
Saskatchewan’s small business income tax rate was increased, effective as of July 1, 2022, from 0% to 1.0%. The 0% rate was a temporary measure put in place during the pandemic to provide relief to ...
SK - Interest Rates - 2022
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2022 are as follows: ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rates payable for 2022 are as follows: ...
SK - Tenants now eligible for Saskatchewan Housing Benefit
The province has announced that, effective as of June 1, 2022, the Saskatchewan Housing Benefit program was expanded to cover renters in the province. Specifically, eligible renters who pay 35 per cen...
The province has announced that, effective as of June 1, 2022, the Saskatchewan Housing Benefit program was expanded to cover renters in the province. Specifically, eligible renters who pay 35 per cen...
SK - Information Notice issued on new PST exemptions for farm equipment
Earlier this year, the provincial government announced that new provincial sales tax exemptions would be provided on a range of goods and services provided to farmers or primary producers or used dire...
Earlier this year, the provincial government announced that new provincial sales tax exemptions would be provided on a range of goods and services provided to farmers or primary producers or used dire...
SK - Enhancements made to Saskatchewan Technology Startup Incentive program
Through its Saskatchewan Technology Startup Incentive (STSI) program, the province offers Saskatchewan-based investors a 45% non-refundable tax credit for investments made in eligible technology start...
Through its Saskatchewan Technology Startup Incentive (STSI) program, the province offers Saskatchewan-based investors a 45% non-refundable tax credit for investments made in eligible technology start...
SK - Updated Information Bulletin issued on provincial tobacco tax changes
In this year’s budget, the provincial government announced that there would be an across-the-board increase in tobacco tax rates. All such increases were effective as of March 24, 2022. Saskatchewan...
In this year’s budget, the provincial government announced that there would be an across-the-board increase in tobacco tax rates. All such increases were effective as of March 24, 2022. Saskatchewan...
SK - Provincial sales tax to be levied on admissions, entertainment, and recreation charges
In this year’s budget the province announced that, effective as of October 1, 2022, provincial sales tax will be levied on admission charges for a wide range of entertainment and sports events. The ...
In this year’s budget the province announced that, effective as of October 1, 2022, provincial sales tax will be levied on admission charges for a wide range of entertainment and sports events. The ...
SK - Small business income tax rate to increase effective July 1, 2022
On October 1, 2020, as part of its pandemic relief measures, the province temporarily reduced its small business corporate income tax rate to zero. In its recent budget for the 2022-23 fiscal year, th...
On October 1, 2020, as part of its pandemic relief measures, the province temporarily reduced its small business corporate income tax rate to zero. In its recent budget for the 2022-23 fiscal year, th...
SK - Climate Action Incentive payment amounts for 2022-23
The federal government has released information on Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Saskatchewan, those amounts will be $550 for the first adult in a family...
The federal government has released information on Climate Action Incentive (CAI) payment amounts for 2022-23. For residents of Saskatchewan, those amounts will be $550 for the first adult in a family...
SK - Saskatchewan Finance issues updated PST Bulletins
Saskatchewan Finance has revised and re-issued a number of provincial sales tax bulletins, to provide updates or add more detailed information. The recently re-issued bulletins are as follows. PST-36...
Saskatchewan Finance has revised and re-issued a number of provincial sales tax bulletins, to provide updates or add more detailed information. The recently re-issued bulletins are as follows. PST-36...
SK - Personal tax credit amounts for 2022
The province of Saskatchewan will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $16,615 Spouse or equivalent to spouse amount...
The province of Saskatchewan will provide the following personal tax credit amounts for 2022: Basic personal amount ……………………………… $16,615 Spouse or equivalent to spouse amount...
SK - Province issues updated sales tax bulletins
Saskatchewan Finance recently updated and re-issued a number of bulletins covering the application of provincial sales tax. Those updated bulletins cover services provided in relation to specific comm...
Saskatchewan Finance recently updated and re-issued a number of bulletins covering the application of provincial sales tax. Those updated bulletins cover services provided in relation to specific comm...
SK - 2022 final year for Saskatchewan Home Renovation Tax Credit
In 2020, the province introduced a non-refundable tax credit program — the Saskatchewan Home Renovation Tax Credit — allowing homeowners to claim a 10.5% credit on eligible home renovation expense...
In 2020, the province introduced a non-refundable tax credit program — the Saskatchewan Home Renovation Tax Credit — allowing homeowners to claim a 10.5% credit on eligible home renovation expense...
SK - Interest Rates - 2022
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2022 is a...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rate payable for the first half of 2022 is a...
SK - CRA issues TD1 form for Saskatchewan residents for 2022
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Saskatchewan for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts...
The Canada Revenue Agency (CRA) has issued the TD1 form to be used by residents of Saskatchewan for the 2022 tax year. On the TD1 form, an employee indicates the provincial personal tax credit amounts...
SK - Updated bulletin issued on application of sales tax to extended warranty and maintenance contracts
Saskatchewan Finance has updated and re-issued Information Bulletin PST-6, which provides information on the application of provincial sales tax for vendors of extended warranty contracts and maintena...
Saskatchewan Finance has updated and re-issued Information Bulletin PST-6, which provides information on the application of provincial sales tax for vendors of extended warranty contracts and maintena...
SK - Mid-year fiscal report shows current year deficit of $2.7 billion
The Mid-Year Report released recently by the provincial government included some good fiscal news, in that a deficit of $2.7 billion is now forecast for the current (2021-22) fiscal year. While that f...
The Mid-Year Report released recently by the provincial government included some good fiscal news, in that a deficit of $2.7 billion is now forecast for the current (2021-22) fiscal year. While that f...
SK - Fuel Tax bulletins updated and re-issued
Holders of Fuel Tax Exemption permits in Saskatchewan may purchase fuel on a tax-exempt or tax-reduced basis. Saskatchewan Finance has recently updated and re-issued a number of Fuel Tax Bulletins to ...
Holders of Fuel Tax Exemption permits in Saskatchewan may purchase fuel on a tax-exempt or tax-reduced basis. Saskatchewan Finance has recently updated and re-issued a number of Fuel Tax Bulletins to ...
SK - Province introduces road use charge for electric vehicles
The province of Saskatchewan levies a fuel tax, and revenue from that fuel tax is used to maintain and improve provincial highways. Since the fuel tax does not apply to electric vehicles, owners of su...
The province of Saskatchewan levies a fuel tax, and revenue from that fuel tax is used to maintain and improve provincial highways. Since the fuel tax does not apply to electric vehicles, owners of su...
SK - Provincial minimum wage to increase October 1, 2021
Effective as of October 1, 2021, the general minimum wage payable in the province will increase from $11.45 to $11.81 per hour. The provincial minimum wage is calculated using an indexation formula. A...
Effective as of October 1, 2021, the general minimum wage payable in the province will increase from $11.45 to $11.81 per hour. The provincial minimum wage is calculated using an indexation formula. A...
SK - Provincial government releases first quarter financial results
The first quarter fiscal update issued recently by the government of Saskatchewan shows an increase in the provincial deficit for 2021-22. That deficit is now projected to be $2.74 billion, an increas...
The first quarter fiscal update issued recently by the government of Saskatchewan shows an increase in the provincial deficit for 2021-22. That deficit is now projected to be $2.74 billion, an increas...
SK - Increase in vapour products tax effective as of September 1, 2021
Beginning in February 2020, the province introduced a new regulatory and tax regime for vapour products sold in Saskatchewan. As of September 1, 2021, that regime will include an increase in the rate ...
Beginning in February 2020, the province introduced a new regulatory and tax regime for vapour products sold in Saskatchewan. As of September 1, 2021, that regime will include an increase in the rate ...
SK - Seniors Income Plan Benefits increase effective July 1, 2021
The Saskatchewan government has announced that, effective as of July 1, 2021, amounts paid under the province’s Seniors Income Plan were increased. As of that date, the maximum monthly benefit incre...
The Saskatchewan government has announced that, effective as of July 1, 2021, amounts paid under the province’s Seniors Income Plan were increased. As of that date, the maximum monthly benefit incre...
SK - Tax on vaping products to take effect September 1, 2021
As announced in the 2021-22 provincial Budget, effective as of September 1, 2021 Saskatchewan will impose a vapour products tax (VPT) at the rate of 20% on all vapour products. Until August 31, 2021, ...
As announced in the 2021-22 provincial Budget, effective as of September 1, 2021 Saskatchewan will impose a vapour products tax (VPT) at the rate of 20% on all vapour products. Until August 31, 2021, ...
SK - Interest Rates - 2021
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2021 are as follows: ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2021 are as follows: ...
SK - Provincial minimum wage to increase effective October 1, 2021
The Saskatchewan government has announced that the provincial general minimum wage will increase, effective October 1, 2021, from $11.45 to $11.81 per hour. Saskatchewan's minimum wage is reviewed ann...
The Saskatchewan government has announced that the provincial general minimum wage will increase, effective October 1, 2021, from $11.45 to $11.81 per hour. Saskatchewan's minimum wage is reviewed ann...
SK - Updates issued on application of PST to online sales
The province levies provincial sales tax at a rate of 6% on personal property or services purchased and distributed through an electronic format, accommodation services booked through an online accomm...
The province levies provincial sales tax at a rate of 6% on personal property or services purchased and distributed through an electronic format, accommodation services booked through an online accomm...
SK - Small business emergency payment program extended
In 2020, the province launched the Small Business Emergency Payment Program, to provide financial assistance to small businesses in the province whose operations were substantially affected by public ...
In 2020, the province launched the Small Business Emergency Payment Program, to provide financial assistance to small businesses in the province whose operations were substantially affected by public ...
SK - Province reinstates Active Families Benefit for 2021
The Active Families Benefit (AFB) is an annual refundable tax benefit introduced to help Saskatchewan families with the costs of their children’s participation in qualifying non-school activities. E...
The Active Families Benefit (AFB) is an annual refundable tax benefit introduced to help Saskatchewan families with the costs of their children’s participation in qualifying non-school activities. E...
SK - 2021-22 Budget includes announcement of future changes to small business tax rate
On October 1, 2020, as part of its pandemic response plan, the provincial government temporarily reduced its small business corporate income tax rate from 2% to 0%. In its 2021-22 Budget, the governme...
On October 1, 2020, as part of its pandemic response plan, the provincial government temporarily reduced its small business corporate income tax rate from 2% to 0%. In its 2021-22 Budget, the governme...
SK - 2021-22 Budget includes multi-year deficit projections
The 2021-22 Saskatchewan Budget, which was brought down on April 6, 2021, includes projections of provincial deficits through 2025. For the current (2021-22) fiscal year, the Budget forecasts a defici...
The 2021-22 Saskatchewan Budget, which was brought down on April 6, 2021, includes projections of provincial deficits through 2025. For the current (2021-22) fiscal year, the Budget forecasts a defici...
SK - Province provides home renovation tax credit for 2020, 2021, and 2022
Residents of Saskatchewan who carry out qualifying home renovations between October 1, 2020 and the end of 2022 may claim a tax credit with respect to eligible expenses incurred.The non-refundable tax...
Residents of Saskatchewan who carry out qualifying home renovations between October 1, 2020 and the end of 2022 may claim a tax credit with respect to eligible expenses incurred.The non-refundable tax...
SK - 2021-22 Budget to be brought down on April 6, 2021
The provincial government has announced that the 2021-22 Saskatchewan Budget will be brought down on Tuesday April 6, 2021. The press release announcing the Budget date can be found on the provincial ...
The provincial government has announced that the 2021-22 Saskatchewan Budget will be brought down on Tuesday April 6, 2021. The press release announcing the Budget date can be found on the provincial ...
SK - Individual income tax rates and brackets for 2021
During the 2021 taxation year, the province of Saskatchewan will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
During the 2021 taxation year, the province of Saskatchewan will levy individual income tax using the following income tax brackets and tax rates. Tax Rate ...
SK - Interest Rates - 2021
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2021 ...
The province of Saskatchewan levies interest on late or insufficient payments of tax at rates prescribed by statute and set every January 1st and July 1st. The rate payable for the first half of 2021 ...
SK - Province to provide Home Renovation Tax Credit
In the recent Speech from the Throne, the provincial government announced that it would be providing Saskatchewan homeowners with a Home Renovation Tax Credit. Homeowners will be able to claim a credi...
In the recent Speech from the Throne, the provincial government announced that it would be providing Saskatchewan homeowners with a Home Renovation Tax Credit. Homeowners will be able to claim a credi...
SK - Mid-Year Report projects reduced deficit for 2020-21
On November 27, the provincial government released its Mid-Year Report on the province’s finances for the current (2020-21) fiscal year. That forecast showed a deficit of $2 billion, which represent...
On November 27, the provincial government released its Mid-Year Report on the province’s finances for the current (2020-21) fiscal year. That forecast showed a deficit of $2 billion, which represent...
SK - Extension announced for wage supplement program
The government of Saskatchewan has announced Phase 2 of its existing wage supplement program, which is effective as of November 19. The extension will provide a further wage supplement to full-time, p...
The government of Saskatchewan has announced Phase 2 of its existing wage supplement program, which is effective as of November 19. The extension will provide a further wage supplement to full-time, p...
SK - Updated Tax Information Bulletin issued for M&P Exporter Tax Incentive
The province of Saskatchewan offers manufacturing companies in the province with a Manufacturing and Processing (M&P) Exporter Tax Incentive. That Incentive provides non-refundable tax credits to ...
The province of Saskatchewan offers manufacturing companies in the province with a Manufacturing and Processing (M&P) Exporter Tax Incentive. That Incentive provides non-refundable tax credits to ...
SK - Province issues updated Information Bulletin on new home construction PST rebate
Effective April 1, 2020, the province provides new home purchasers in Saskatchewan with a rebate of up to 42% of provincial sales tax paid on the purchase of a newly constructed home. To qualify for t...
Effective April 1, 2020, the province provides new home purchasers in Saskatchewan with a rebate of up to 42% of provincial sales tax paid on the purchase of a newly constructed home. To qualify for t...
SK - Province releases first quarter fiscal report for 2020-21
The province has released its First Quarter Budget Update for the 2020-21 fiscal year, and that Update includes both a projection of a reduced current year deficit, and of a return to surplus in 2024-...
The province has released its First Quarter Budget Update for the 2020-21 fiscal year, and that Update includes both a projection of a reduced current year deficit, and of a return to surplus in 2024-...
SK - Minimum wage to increase effective October 1, 2020
Effective as of October 1, the provincial general minimum wage will increase by 13 cents, to $11.45 per hour. That increase is based on changes to the Saskatchewan Consumer Price Index. Some groups of...
Effective as of October 1, the provincial general minimum wage will increase by 13 cents, to $11.45 per hour. That increase is based on changes to the Saskatchewan Consumer Price Index. Some groups of...
SK - Province expands temporary wage supplement program
Saskatchewan provides a wage supplement for qualifying essential workers in the province, equal to $400 for each four-week period between March 15 and July 4, 2020. The supplement is generally availab...
Saskatchewan provides a wage supplement for qualifying essential workers in the province, equal to $400 for each four-week period between March 15 and July 4, 2020. The supplement is generally availab...
SK - Interest Rates - 2020
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2020 are as follows ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and July 1. The rates payable for 2020 are as follows ...
SK - PST rebate on new residential housing purchases introduced
The 2020-21 Saskatchewan Budget recently brought down by the provincial government included an announcement of a provincial sales tax rebate on new housing construction. Under the new rebate program, ...
The 2020-21 Saskatchewan Budget recently brought down by the provincial government included an announcement of a provincial sales tax rebate on new housing construction. Under the new rebate program, ...
SK - Information Notice issued on extended filing due dates for electronic tax filers
The provincial government previously announced that taxpayers who file returns and make payments electronically for purposes of Provincial Sales Tax, Liquor Consumption Tax, and the Beverage Container...
The provincial government previously announced that taxpayers who file returns and make payments electronically for purposes of Provincial Sales Tax, Liquor Consumption Tax, and the Beverage Container...
SK - Budget projects $2.4 billion deficit for current fiscal year
The province of Saskatchewan brought down its 2020-21 Budget on June 15 and that Budget included a projection of a deficit of $2.4 billion for the year. For 2020-21, revenue is forecast to be $13.6 bi...
The province of Saskatchewan brought down its 2020-21 Budget on June 15 and that Budget included a projection of a deficit of $2.4 billion for the year. For 2020-21, revenue is forecast to be $13.6 bi...
SK - Provincial minimum wage to increase October 1, 2020
The provincial government has announced that Saskatchewan’s minimum wage will increase from $11.32 to $11.45 per hour on October 1, 2020. The provincial minimum wage is revised annually, based on c...
The provincial government has announced that Saskatchewan’s minimum wage will increase from $11.32 to $11.45 per hour on October 1, 2020. The provincial minimum wage is revised annually, based on c...
SK - Information Notice issued on new temporary wage supplement
Earlier this month, the province announced that a temporary wage supplement would be made available to qualifying essential care workers in the province. Saskatchewan Finance has now issued Informatio...
Earlier this month, the province announced that a temporary wage supplement would be made available to qualifying essential care workers in the province. Saskatchewan Finance has now issued Informatio...
SK - Province to provide wage supplement for lower-income essential workers
The provincial government has announced that a new wage supplement of $400 per month will be provided to lower income essential workers in the province for a period of 16 weeks (March 15 to July 4).Wo...
The provincial government has announced that a new wage supplement of $400 per month will be provided to lower income essential workers in the province for a period of 16 weeks (March 15 to July 4).Wo...
SK - Saskatchewan Small Business Emergency Payment application process open
The Saskatchewan government will be providing eligible small and medium-sized businesses in the province which are directly affected by government public health orders related to COVID-19 with a one-t...
The Saskatchewan government will be providing eligible small and medium-sized businesses in the province which are directly affected by government public health orders related to COVID-19 with a one-t...
SK - Provincial sales tax filing and payment deadlines deferred
The province has announced relief measures for Saskatchewan businesses with respect to their provincial sales tax payment obligations. While businesses which are able to do so are still required to fi...
The province has announced relief measures for Saskatchewan businesses with respect to their provincial sales tax payment obligations. While businesses which are able to do so are still required to fi...
SK - PST remittance deferral provided for Saskatchewan businesses
The provincial government has announced that, effective as of March 20, 2020, Saskatchewan businesses which are unable to remit their Provincial Sales Tax (PST) due to cashflow concerns will have reli...
The provincial government has announced that, effective as of March 20, 2020, Saskatchewan businesses which are unable to remit their Provincial Sales Tax (PST) due to cashflow concerns will have reli...
SK - Penalty and interest relief for businesses
The provincial government has announced that businesses directly impacted by the COVID-19 virus that are unable to file their provincial tax return(s) by the due date may submit a request for interest...
The provincial government has announced that businesses directly impacted by the COVID-19 virus that are unable to file their provincial tax return(s) by the due date may submit a request for interest...
SK - Extended due date for electronic tax filers
Saskatchewan Finance has announced that taxpayers filing returns or making payments electronically for purposes of Provincial Sales Tax, Liquor Consumption Tax and the Beverage Container Program will ...
Saskatchewan Finance has announced that taxpayers filing returns or making payments electronically for purposes of Provincial Sales Tax, Liquor Consumption Tax and the Beverage Container Program will ...
SK - Upcoming changes to filing frequency requirements for Saskatchewan businesses
The provincial government has announced that changes will be made, effective April 1, 2020, to the tax payable thresholds which determine the frequency with which businesses must file returns under ce...
The provincial government has announced that changes will be made, effective April 1, 2020, to the tax payable thresholds which determine the frequency with which businesses must file returns under ce...
SK - 2019 tax return package for Saskatchewan residents now available online
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Saskatchewan as of December 31, 2019. That return and guide can ...
The Canada Revenue Agency (CRA) has released the Individual Income Tax Return and Guide to be used by individuals who were residents of Saskatchewan as of December 31, 2019. That return and guide can ...
SK - Interest Rates - 2020
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and June 1. The rate payable for the first half of 2020 is as f...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and June 1. The rate payable for the first half of 2020 is as f...
SK - Personal tax credit amounts for 2020
The province of Saskatchewan will provide the following personal tax credit amounts for 2020: Basic personal amount ………………………………… $16,065 Spouse or equivalent to spouse...
The province of Saskatchewan will provide the following personal tax credit amounts for 2020: Basic personal amount ………………………………… $16,065 Spouse or equivalent to spouse...
SK - Province to provide Volunteer Emergency Responder tax credit
As announced in this year’s Budget, the province will be providing a new tax credit for volunteer emergency responders, effective for the 2020 and subsequent tax years. The $3,000 tax credit amount ...
As announced in this year’s Budget, the province will be providing a new tax credit for volunteer emergency responders, effective for the 2020 and subsequent tax years. The $3,000 tax credit amount ...
SK - Province releases mid-year financial results
The provincial government has released the financial results for the first half of the province’s 2019-20 fiscal year. Those results forecast an increased surplus for the year — up $3 million from...
The provincial government has released the financial results for the first half of the province’s 2019-20 fiscal year. Those results forecast an increased surplus for the year — up $3 million from...
SK - Province issues updated bulletin on application of PST to cannabis sales
Saskatchewan Finance has updated and re-released its tax bulletin (PST-74) on the application of provincial sales tax to sales of cannabis. The updated Bulletin, which is available at https://www.sets...
Saskatchewan Finance has updated and re-released its tax bulletin (PST-74) on the application of provincial sales tax to sales of cannabis. The updated Bulletin, which is available at https://www.sets...
SK - Province issues updated sales tax bulletins
Saskatchewan Finance has issued two updated Bulletins providing information on the application of provincial sales tax where complimentary or tax-included meals or meal tokens are provided in particul...
Saskatchewan Finance has issued two updated Bulletins providing information on the application of provincial sales tax where complimentary or tax-included meals or meal tokens are provided in particul...
SK - Upcoming change to provincial minimum wage
Effective as of October 1, 2019, the general minimum wage payable in the province of Saskatchewan will increase from $11.06 to $11.32 per hour. Saskatchewan’s minimum wage is indexed, increasing on ...
Effective as of October 1, 2019, the general minimum wage payable in the province of Saskatchewan will increase from $11.06 to $11.32 per hour. Saskatchewan’s minimum wage is indexed, increasing on ...
SK - Province releases first-quarter fiscal results for 2019-20
The province of Saskatchewan has issued the revenue and expenditure figures for the first quarter (April 1 – June 30) of its 2019-20 fiscal year. Those figures indicate that the province is on track...
The province of Saskatchewan has issued the revenue and expenditure figures for the first quarter (April 1 – June 30) of its 2019-20 fiscal year. Those figures indicate that the province is on track...
SK - Province issues updated bulletin on sales of used goods
Saskatchewan Finance has updated and re-issued its Information Bulletin (PST-58) on the application of provincial sales tax to sales of used goods in the province. The changes to the Bulletin include ...
Saskatchewan Finance has updated and re-issued its Information Bulletin (PST-58) on the application of provincial sales tax to sales of used goods in the province. The changes to the Bulletin include ...
SK - Interest Rates - 2019
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and June 1. The rates payable for 2019 are as follows. ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1 and June 1. The rates payable for 2019 are as follows. ...
SK - Updated PST bulletin issued on sales of used goods
Saskatchewan Finance has updated and re-issued its provincial sales tax (PST) bulletin (PST-58) with respect to the application of PST to sales of used goods. Where a business sells used assets, it is...
Saskatchewan Finance has updated and re-issued its provincial sales tax (PST) bulletin (PST-58) with respect to the application of PST to sales of used goods. Where a business sells used assets, it is...
SK - Province posts reduced deficit for fiscal 2018-19
Final figures for the province’s 2018-19 fiscal year show that Saskatchewan ended that year in a better than expected financial position. During that year, total revenue was $14.45 billion, which wa...
Final figures for the province’s 2018-19 fiscal year show that Saskatchewan ended that year in a better than expected financial position. During that year, total revenue was $14.45 billion, which wa...
SK - Interest Rates - 2019
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rates payable for 2019 are as follows. ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rates payable for 2019 are as follows. ...
SK - Provincial minimum wage to increase October 1, 2019
The Saskatchewan government has announced that the general minimum wage payable in the province will be increased, effective as of October 1, 2019. As of that date, the provincial general minimum wage...
The Saskatchewan government has announced that the general minimum wage payable in the province will be increased, effective as of October 1, 2019. As of that date, the provincial general minimum wage...
SK - Province to provide new tax credit for volunteer first responders
In this year’s Budget, the province has announced that, beginning in 2020, a new non-refundable $3,000 tax credit amount will be claimable by Volunteer Emergency Medical First Responders and Volunte...
In this year’s Budget, the province has announced that, beginning in 2020, a new non-refundable $3,000 tax credit amount will be claimable by Volunteer Emergency Medical First Responders and Volunte...
SK - Province announces balanced Budget for 2019-20
The 2019-20 Budget brought down on March 19 indicates that Saskatchewan will have a balanced Budget for the upcoming (2019-20) fiscal year, with a surplus of $34.4 million. There were no new taxes or ...
The 2019-20 Budget brought down on March 19 indicates that Saskatchewan will have a balanced Budget for the upcoming (2019-20) fiscal year, with a surplus of $34.4 million. There were no new taxes or ...
SK - Province announces date for 2019-20 Budget
The Saskatchewan government has announced that the 2019-20 provincial Budget will be brought down on Wednesday, March 20, 2019. Once the Budget is released, the Budget Papers will be posted on the pro...
The Saskatchewan government has announced that the 2019-20 provincial Budget will be brought down on Wednesday, March 20, 2019. Once the Budget is released, the Budget Papers will be posted on the pro...
SK - Prescribed areas for livestock tax deferral for 2018
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
Taxpayers whose livestock farming operations are affected by adverse weather conditions during a particular taxation year can benefit from a tax deferral program. That Livestock Tax Deferral provision...
SK - Interest Rates - 2019
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rate payable for the first half of 2019 is ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rate payable for the first half of 2019 is ...
SK - Province issues mid-year fiscal update
The mid-year fiscal update announced by the Saskatchewan Finance Minister indicated that the province’s projected deficit for the 2018-19 will be less than was forecast in the Budget. That deficit i...
The mid-year fiscal update announced by the Saskatchewan Finance Minister indicated that the province’s projected deficit for the 2018-19 will be less than was forecast in the Budget. That deficit i...
SK - Personal tax credit amounts for 2019
The province of Saskatchewan will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $16,065 Spouse or equivalent to spouse am...
The province of Saskatchewan will provide the following personal tax credit amounts for 2019: Basic personal amount ……………………………… $16,065 Spouse or equivalent to spouse am...
SK - Province announces new mining exploration tax incentive
Applications are now being accepted for a new incentive to help encourage mineral exploration in targeted areas of Saskatchewan. That new incentive, the Targeted Mineral Exploration Incentive, is desi...
Applications are now being accepted for a new incentive to help encourage mineral exploration in targeted areas of Saskatchewan. That new incentive, the Targeted Mineral Exploration Incentive, is desi...
SK - Province announces contingency plans for postal disruption
The province has announced the procedures which will be in place with respect to consumption tax fillings, payments and refunds by and to businesses in the event of a postal disruption. The announceme...
The province has announced the procedures which will be in place with respect to consumption tax fillings, payments and refunds by and to businesses in the event of a postal disruption. The announceme...
SK - Applications now available for Saskatchewan Technology Startup Incentive
Effective as of October 1, 2018, individuals and corporations can apply for the Saskatchewan Technology Startup Incentive (STSI). The STSI is a non-refundable 45% tax credit for individuals or corpora...
Effective as of October 1, 2018, individuals and corporations can apply for the Saskatchewan Technology Startup Incentive (STSI). The STSI is a non-refundable 45% tax credit for individuals or corpora...
SK - Provincial government creates Tip Line for reporting tax evasion
The province has instituted a “Tip Line” which provides an anonymous, fully confidential way for the public to report businesses or individuals who are participating in tax fraud. The Tip Line is...
The province has instituted a “Tip Line” which provides an anonymous, fully confidential way for the public to report businesses or individuals who are participating in tax fraud. The Tip Line is...
SK - Province’s AAA credit rating confirmed by rating agency
The province’s Finance Minister has announced that Moody’s Investors Service has confirmed Saskatchewan’s AAA credit rating. Saskatchewan and British Columbia are the only two Canadians province...
The province’s Finance Minister has announced that Moody’s Investors Service has confirmed Saskatchewan’s AAA credit rating. Saskatchewan and British Columbia are the only two Canadians province...
SK - First quarter report shows 2017-18 Budget on track
The first quarter (2018-19) fiscal results released by the provincial government show a reduction in the projected deficit for the current year. The 2018-19 Budget had projected a full-year deficit of...
The first quarter (2018-19) fiscal results released by the provincial government show a reduction in the projected deficit for the current year. The 2018-19 Budget had projected a full-year deficit of...
SK - Provincial minimum wage to increase October 1, 2018
Effective as of October 1, 2018, the provincial general minimum wage will increase by $0.10 per hour, from $10.96 to $11.06. More information on Saskatchewan’s minimum wage and minimum wage payment...
Effective as of October 1, 2018, the provincial general minimum wage will increase by $0.10 per hour, from $10.96 to $11.06. More information on Saskatchewan’s minimum wage and minimum wage payment...
SK - Province releases results for 2017-18 fiscal year
The Minister of Finance has announced that the province achieved a significant reduction in its overall deficit during the 2017-18 fiscal year. The Minister’s announcement indicates that the provinc...
The Minister of Finance has announced that the province achieved a significant reduction in its overall deficit during the 2017-18 fiscal year. The Minister’s announcement indicates that the provinc...
SK - Province to provide technology start-up tax credit
As announced in this year’s budget, the province will be providing a tax credit for investments made in Saskatchewan technology start-ups. That non-refundable tax credit, the Saskatchewan Technology...
As announced in this year’s budget, the province will be providing a tax credit for investments made in Saskatchewan technology start-ups. That non-refundable tax credit, the Saskatchewan Technology...
SK - Interest Rates - 2018
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rates payable for 2018 are as follows. ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rates payable for 2018 are as follows. ...
SK - Increase announced to provincial minimum wage
The minimum wage in Saskatchewan will increase to $11.06 an hour from $10.96 an hour, effective as of October 1, 2018. Saskatchewan’s legislation provides for an annual review of the minimum wage, b...
The minimum wage in Saskatchewan will increase to $11.06 an hour from $10.96 an hour, effective as of October 1, 2018. Saskatchewan’s legislation provides for an annual review of the minimum wage, b...
SK - Sales tax exemption for energy efficient products eliminated
In this year’s Budget, the province announced that it would be eliminating the existing provincial sales tax (PST) exemption provided for purchases of certain Energy Star rated products. Consequentl...
In this year’s Budget, the province announced that it would be eliminating the existing provincial sales tax (PST) exemption provided for purchases of certain Energy Star rated products. Consequentl...
SK - Province announces property tax deferral program for seniors
Saskatchewan Finance has announced that residents of the province who are over the age of 65 will be eligible for a new property tax deferral program, which came into effect as of April 10, 2018. To t...
Saskatchewan Finance has announced that residents of the province who are over the age of 65 will be eligible for a new property tax deferral program, which came into effect as of April 10, 2018. To t...
SK - Policy holders to receive automatic refunds of insurance premium PST payments
As announced on February 26, 2018, provincial sales tax is no longer levied on certain types of insurance policies, including individual and group life policies, health, disability, accident and sickn...
As announced on February 26, 2018, provincial sales tax is no longer levied on certain types of insurance policies, including individual and group life policies, health, disability, accident and sickn...
SK - Interest Rates - 2018
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rate payable for the first half of 2018 is ...
The province of Saskatchewan levies interest on late or deficient payments of tax at rates prescribed by statute and set every January 1st and June 1st. The rate payable for the first half of 2018 is ...
SK - Personal tax credit amounts for 2018
The province of Saskatchewan will provide the following personal tax credit amounts for 2018: Basic personal amount ……………………………… $16,065 Spouse or equivalent to spouse amount...
The province of Saskatchewan will provide the following personal tax credit amounts for 2018: Basic personal amount ……………………………… $16,065 Spouse or equivalent to spouse amount...
SK - Personal income tax rates and brackets for 2018
For the 2018 tax year, the province of Saskatchewan will levy personal income tax at the following individual income tax rates and brackets: 5% on the first $45,225 of taxable income; 5% on taxable i...
For the 2018 tax year, the province of Saskatchewan will levy personal income tax at the following individual income tax rates and brackets: 5% on the first $45,225 of taxable income; 5% on taxable i...
SK - Corporate income tax changes effective January 1, 2018
Effective as of January 1, 2018, the Saskatchewan general corporate income tax rate increased from 11.5% to 12%. That rate was reduced to 11.5% from 12% from July 1 to December 31, 2017. The general c...
Effective as of January 1, 2018, the Saskatchewan general corporate income tax rate increased from 11.5% to 12%. That rate was reduced to 11.5% from 12% from July 1 to December 31, 2017. The general c...
SK - CRA releases 2017 T1 tax return form for Saskatchewan residents
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Saskatchewan at the end of that year. The T1 form packa...
The Canada Revenue Agency has released the 2017 T1 Individual Income Tax Return and Benefit form to be used by individuals who were residents of Saskatchewan at the end of that year. The T1 form packa...
SK - Increase in small business limit effective January 1
The provincial government has issued a press release reminding small businesses in Saskatchewan that the provincial small business limit has been increased, effective as of January 1, 2018, from $500,...
The provincial government has issued a press release reminding small businesses in Saskatchewan that the provincial small business limit has been increased, effective as of January 1, 2018, from $500,...
SK - 2018 Saskatchewan TD1 Form and TD1 Worksheet released
The Canada Revenue Agency has issued the Saskatchewan TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax ...
The Canada Revenue Agency has issued the Saskatchewan TD1 Form and Worksheet which will be used by taxpayers resident in the province, and their employers, to determine required provincial income tax ...
SK - Updated bulletin issued on provincial Liquor Consumption Tax
Saskatchewan imposes a Liquor Consumption Tax (LCT) equal to 10% of the selling price of beer, wine, and spirits in the province. Authorized vendors of such products are issued a non-transferable Spec...
Saskatchewan imposes a Liquor Consumption Tax (LCT) equal to 10% of the selling price of beer, wine, and spirits in the province. Authorized vendors of such products are issued a non-transferable Spec...
SK - Corporate income tax changes to take effect January 1, 2018
Effective as of January 1, 2018, changes will be made to the taxation of both large and small corporations in the province. Small businesses will benefit from an increase in the small business thresho...
Effective as of January 1, 2018, changes will be made to the taxation of both large and small corporations in the province. Small businesses will benefit from an increase in the small business thresho...
Lawrence Ogbonnah CGA, PC specializes in small business accounting and tax preparation in Calgary, AB and the surrounding areas.
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