Category: Tax

Tax

Plan ahead to overcome increased capital gains inclusion rate

On June 25, 2024, the capital gains inclusion rate is increasing from 50% to 66.67%. This significant amendment will impact taxpayers disposing of assets like shares, bonds, rental properties, secondary homes, or business equipment after this date. Prepare now with this comprehensive overview of what these changes mean for you and how you can plan ahead to mitigate the increased tax burden.

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Tax

2024 Federal budget commentary

With a proposed $52.9 billion in new spending over the next five years, the 2024 Federal Budget focuses on key areas such as housing affordability and economic development, while also providing enhanced support for students and the younger generations. Read the full article for a detailed commentary on the key tax and economic takeaways, measures, and proposed changes affecting Canadians and businesses.

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Tax

10 Common Tax Return Mistakes and How to Fix Them

Filing your tax return accurately and completely is crucial to avoiding penalties and potential CRA audits, while at the same time maximizing your tax savings. By being aware of the most common tax return mistakes and taking steps to fix them, you can save time, money, and future headaches! Read the full article to avoid these 10 tax pitfalls.

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Tax 2024 displayed in wooden blocks on top of tax forms surrounded by coins on a desk
Tax

Canadian Tax Changes 2024 – Part Two

The 2023 Budget and the Fall Economic Statement included a host of legislative and regulatory changes. In Part Two of our tax changes series, we take a look at the big developments set to shake up the Canadian tax landscape in 2024, from new trust reporting rules to long-awaited adjustments to the Alternative Minimum Tax and the elimination of short-term rental deductions.

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Businessman toppling tower of wooden block spelling the word Taxes
Tax

Canadian Tax Changes 2024 – Part One

2023 was a big one for the Canadian tax landscape, with the CRA and Ministry of Finance pushing forward on extensive legislative and administrative changes.

In Part One of our 2024 Tax Changes series, we dive into the key details of federal tax brackets, RRSP and TFSA limits, CPP enhancement, and EI premiums.

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Tax

Canada’s jobs report offers mixed messages on rates

February’s jobs report exceeded expectations with the addition of 40,700 jobs to the Canadian economy. This paints a mixed picture for policymakers and does little to sway the Bank of Canada’s likelihood to begin cutting rates in June. To learn more about the February jobs report and what it means for the Canadian economy, check out the full article from RSM.

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