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CRA has confirmed lower interest rates for Q3 of 2024 For the first time in 2 years, the CRA have announced a reduction in its prescribed interest rates. These rates apply on overdue taxes, refund…

Spring 2024: IMPORTANT Indirect Tax Changes The federal and provincial budgets season has come to an end for 2024 and there were plenty of new taxes, tax base expansion and numerous surprises (good and bad).…

British Columbia now taxes most digital remote sellers As part of British Columbia’s (“BC”) 2024 budget announcement, one of the most recent enlargements of the provincial sales tax (“PST”) occurred in plain sight. Over the…

Update on Canada Customs Requirements for ALL Importers The Canada Border Services Agency (CBSA) is modernizing the way it assesses duties, etc. for all importers via the CBSA Assessment and Revenue Management (CARM), which is…

Achen Henderson featured in Investment Executive Magazine on Underused Housing Tax updates In a recent article, David provides insights into the recent developments in the underused housing tax (UHT) saga. The article highlights David's insights…

GST and HST: A Common Pitfall for Nonprofits Does your non-profit organization (“NPO’s”) earn revenue from memberships? If so, you should be aware of the potential pitfalls with respect to the GST/HST system. Informally, the…

Important Update: Bare Trusts Exempt from 2023 Trust Reporting Requirements Many unsuspecting citizens are now becoming aware of the Government’s recent roll out of the new reporting guidelines for trusts. These measures are aimed at…

David Crawford on the proposed UHT changes - InvestmentExecutive.ca We're excited to share that our very own David Crawford has been featured in an article by Investment Executive discussing the latest updates to the Underused…

2024 CRA per-kilometer allowance rates The Canada Revenue Agency (CRA) has adjusted the per-kilometer rates for vehicle allowances, varying by year and location. Here's a breakdown of the recent revisions: 2024 Automobile Allowance Rates: -…

Cracking Down on Non-Compliant Short-Term Rentals: What You Need to Know In the 2023 Fall Economic Statement, the Canadian federal government announced a significant move to deny the deductions for owners of non-compliant short-term rentals.…

Understanding the First Home Savings Account (FHSA) in Canada The First Home Savings Account (FHSA) is a tax-free savings account designed to help first-time homebuyers save up to $40,000 for a home purchase. Introduced through…

Retirement Hub by the Government of Canada Are you planning for your retirement? Do you want to learn more about your public pension options like the Canada Pension Plan (“CPP”) and Old Age Security (“OAS”)…