Carbon accounting has become an important tool for businesses worldwide, particularly regarding climate change, which is a serious issue.

Welcome to the realm of Registered Retirement Income Fund (RRIF) and Registered Retirement Savings Plan (RRSP) planning, an essential but often overlooked area of financial planning that can significantly impact your estate’s value.

There is virtually no inheritance tax in Canada. It is because the deceased is taxed, with his assets valuated at a fair market rate as of the time “immediately before his death.” Thus, almost everything, barring a few, owned by the deceased at the time of his death is directly taxed.

Seeing the term Probate, many people might think this is an area only Estate Professionals should traverse, but they are wrong. Everyone who has property and responsibilities should know about Probate and its process. The earlier in his life, he comes to understand it, the better.

Likely the most significant changes to capital gains taxation for individuals, investors in 2024 are going to affect the economy on a larger scale. These shifts are very important in order to understand the financial market well.

Estate planning is as important as ordinary tax planning. The well-being of a deceased’s loved ones depends on what he leaves them and in what fashion he leaves it to them. Estate planning is an intricate process that needs careful consideration.

“I Don’t Need Estate Planning! I Have so Little…” Really? Do you have no dependents, personal possessions, favorite family members, or debts?

Curious about how the new capital gains tax law could affect your investments? Dive into our guide to uncover key insights and strategies for navigating this financial landscape with confidence.

Stepping into the area of Canadian residence is like entering a maze of regulations and classifications, with each turn revealing additional levels of complexity.

The tax regulations present a continual challenge for taxpayers and professionals alike. As we transition into 2024, the enactment of Bill C-47 brings forth significant changes in the form of enhanced Mandatory Disclosure Rules (MDR), marking a pivotal moment in tax compliance.

Closing a firm can be a tough but important phase in an entrepreneur’s path. Closing a business, whether due to changing market conditions, financial difficulties, or simply a change of direction, necessitates meticulous planning and execution.

The recent unveiling of the Government of Saskatchewan’s fiscal year 2024-25 budget marks a significant milestone in the province’s economic trajectory.

Whether you’re an experienced Canadian entrepreneur or just getting started, solving the complexity of GST and HST can feel overwhelming.

Are you a business owner in Canada looking to manage your taxes and benefits efficiently? Registering for a CRA (Canada Revenue Agency) Business Account is the first step towards ensuring compliance and accessing various government programs and services tailored for businesses. This comprehensive guide will walk you through the process, step by step, making it easy for you to complete the registration procedure with confidence.

In 2023, the Canadian economy encountered challenges from rising interest rates and inflation, which affected both firms and individuals. As we enter 2024, there is some optimism for relief, while the path to healthy economic growth remains uncertain, mainly due to rising interest rates’ repercussions.

The Conference for Advanced Life Underwriting (CALU) stands as a leading voice in advocating for the interests of financial advisors and insurance professionals across Canada.

The federal government has released new details about a new registered savings account for first-time home buyers. It’s called the FHSA and it combines aspects of both the RRSP and TFSA. Like the RRSP Home Buyers Plan, it allows withdrawals on a tax-free basis to help buy a qualifying home. But, it also offers some other features not found in RRSPs and TFSAs.

The CRA requires financial institutions to file T5 slips by the end of February each year. These slips detail investment income paid to individuals during the previous calendar year. The CRA uses these filings to verify the amounts reported on individual taxpayer returns.

The luxury tax, which was first announced in Canada in the 2021 Budget, took effect on September 1, 2022. It will impact individuals who purchase high-value cars, airplanes, and boats, as well as manufacturers and vendors that produce, wholesale, or retail these goods.

Every group benefit plan has its pros and cons. It is important to educate your employees about their options and the benefits of each choice.

As tax season approaches in Canada, it’s time to start thinking about how to make the most of your tax return. The Canadian tax system offers numerous opportunities for individuals to optimize their financial situation and receive the maximum refund possible.

In a move to tackle the housing crisis gripping major Canadian cities, the Department of Finance Canada has released a draft legislation aimed at curtailing the tax benefits associated with short-term rentals.

Canadian individuals who choose to utilize US Limited Liability Companies (LLCs) for earning rental income or conducting business in the United States encounter a host of challenges due to the distinct tax treatment by the Canada Revenue Agency (CRA).

Filing your tax return can be a perplexing task, with various lines and numbers demanding your attention. One such line that may catch your eye is Line 15000.

Many employers may be planning to give gifts or awards in 2024 to their employees. But what are the tax implications?

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.

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.

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.

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.

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.