In the wake of ongoing U.S. tariff threats, Canadian businesses and consumers are seeking ways to cushion potential disruptions to supply chains and the exchange of consumer goods. This article from RSM provides an in-depth analysis of the current economic climate and explores various strategies to counteract the impending trade uncertainty. Learn more here.
Worried about important tax dates sneaking up on you? Be sure to check out RSM’s comprehensive list for 2025! They’ve compiled all of the key dates and deadlines to help Canadians keep track of upcoming tax responsibilities throughout the year, from corporate returns to T3 trust reporting. Staying on top of these important tax dates will help you manage your tax obligations efficiently and avoid unnecessary penalties. See the complete list here.
Canada’s 2024 fall economic statement proposes several new initiatives designed to stimulate investment and productivity within Canada. Key measures include reforms in the scientific research and experimental development (SR&ED) program, extending the accelerated investment incentive, and expanding transactions qualifying for the capital gains rollover on business investments. The statement also includes legislative amendments to the Export and Import Permits Act, among other trade measures, to address rising trade concerns. Read more here.
At the end of November, the House of Commons passed Bill C-78, the Tax Break for All Canadians Act. This groundbreaking legislation proposed a temporary GST/HST holiday on various items, aiming to provide a tax break for Canadians over the festive period. From December 14, until February 15, 2025, no GST/HST will be charged on eligible supplies, which include children’s items, food, beverages and games. While this is welcome news for Canadian consumers, it has created major headaches for businesses that sell qualifying items. Read the full article to learn more about navigating the GST/HST holiday tax break.
2024 was another big year for the Canadian tax domain. Budget 2024 proposed some major changes and updates, while Bills C-59 and C-69 received royal assent, enacting new legislation that will affect middle-market taxpayers going into 2025. Read the full guide for a detailed breakdown of the critical federal, provincial, and territorial tax updates to be aware of when preparing for year-end tax opportunities and obligations.
Whether you’re considering a sale, a transition in management, or simply looking to improve the governance of your company, audits are your secret weapon. A detailed audit conducted by a reputable third party can dramatically impact the financial success, operational efficiency, and even the reputation of a company. In this article, RSM Canada presents seven compelling reasons why private business owners should consider regular audits, backed up by real-world scenarios observed from years of experience working with middle-market companies.
