Tag: Tax news
Budget 2024 – Capital Gains Tax and LCGE
The Canadian Federal Government’s 2024 Budget has introduced a significant proposed change to the way capital gains are included in taxable income from June 25, 2024, onwards. Proposed Change in Inclusion Rate Proposed Change in Lifetime Capital Gains Exemption Effective Date How this May Affect You More Information
New – Bare Trust Filing Exemption
In a move to streamline the tax reporting process, the Canada Revenue Agency (CRA) has announced an exemption for bare trusts from the new trust reporting requirements for the 2023 tax year. This decision comes as a relief to many, as it recognizes the complexities and unintended consequences that these […]
Navigating the Underused Housing Tax (UHT) Filing Requirements
The Canadian government has proposed significant changes to the Underused Housing Tax Act (UHTA), which will likely exempt you from having a filing requirement, but the amendments have not passed into law yet. The UHT filing deadline is April 30 and it is fast approaching. We are presenting 3 options […]
