What Is a Capital Gain? And Why Does It Matter for Your Taxes in Canada?
If you have sold an investment, a property, or any other asset for more than you paid for it, you have likely realized a capital gain, and you may owe tax on it. Capital gains are one of the most common tax events Canadians encounter outside of employment income, yet many people are unsure exactly […]
Key Highlights from the 2022 Fall Economic Statements
Every fall the federal and provincial governments each issue an economic update on their budget. This year, Canada released their update on November 3 and Ontario released theirs on November 14th. We have pulled out some key highlights here that may be of relevance to you: Government of Canada’s Fall Economic Statement The federal deficit […]
Key Highlights from the 2022 Federal Budget
The federal budget was released on April 7, 2022. While there were no changes to personal or corporate tax rates, the budget contained several key items of interest, including tax and small business implications. Some key highlights: Canada Recovery Dividend The budget introduces the one-time Canada Recovery Dividend (CRD) and a 15% tax on bank […]
What Might Save or Cost You Money from the Federal 2021 Fall Economic Statement
On December 14, 2021 the federal government released its Fall Economic Statement which slot gacor outlined the expected path to economic recovery, and also billions of dollars more in spending. Some of the measures proposed may impact your personal or corporate tax filings next year. Key Personal Tax Highlights: Enhanced Home Office Expense Deduction To […]
Key Highlights from Ontario’s Fall Economic Statement
Ontario has Released the 2021 Fall Economic Statement On November 4, 2021, the Province released the 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario. The Fall statement usually focuses on a mid-year look as to how the Province is faring compared to what it laid out in the Spring Budget. This year, the government has included […]