Many employers may be planning to give gifts or awards in 2024 to their employees. But what are the tax implications?
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How to File Taxes Online for Free in Canada?
Filing and paying taxes is a crucial task for every Canadian citizen. Skipping this responsibility can lead to serious consequences. So, it’s best to stay on top of deadlines and requirements.
What Are the Changes in Canada for Tax Season 2024?
With tax season upon us, it’s important to stay informed about changes to taxation laws and guidelines. Here are some of the most important updates to keep in mind.
How Does Income Tax Work in Canada in 2025?
Income tax in Canada holds a central position within the nation’s fiscal framework. It serves as a cornerstone for funding essential public services and infrastructure projects.
Actual Dividends VS. Taxable Dividends in Canada
The tax system in Canada aims for income from salaries and dividends to generate the same after-tax cash in the hands of individual shareholders. This goal is achieved through a concept known as integration.
What is Underused Housing Tax (UHT) – An Ultimate Guide To Read
The Canada Revenue Agency (“CRA”) has released an extended deadline of April 30, 2024, to file the 2022 UHT returns without being charged penalties or interest.
Options to Pay Taxes to the Canada Revenue Agency in 2025
Paying taxes isn’t merely a legal requirement; it’s a crucial pillar of Canada’s financial stability. The responsibility for this falls under the Canada Revenue Agency (CRA), a government agency renowned for its diligent tax collection.
Tax Strategies of Passive Foreign Investment Company to Know in 2025
In the ever-evolving world of international finance, staying ahead of the game is crucial, especially when it comes to managing investments in Passive Foreign Investment Companies (PFICs). Taxation of these entities can be complex and daunting.
What is SR&ED Tax – How to Calculate and Benefits to Know in 2025?
Before 1994, companies reported all SR&ED (Scientific Research and Experimental Development) expenditures to Revenue Canada. Now, it is up to each company to calculate their expected SR&ED investment tax credit.