Tag: Tax news
New and Expanded Trust Reporting
New rules aimed at providing more transparency on beneficial ownership of assets now require that more trusts (and estates) file tax returns. These changes will catch many individuals and businesses that may not be aware of their trust-like relationships, exposing them to potential penalties and other consequences for non-compliance. The […]
New for 2023 – BC Renter’s Tax Credit
Starting in the 2023 tax year, a $400 tax credit is available to individuals who pay rent and occupied a rental unit in B.C. under a tenancy agreement, licence, sublease agreement or similar arrangement for at least six one-month periods. For the 2023 tax year, the maximum renter’s tax credit […]
Changes to Payments to the Receiver General of Canada
We’re writing to inform you about an important update regarding your payments or remittances to the Receiver General of Canada. What’s Changing? As of January 1, 2024, if your payment amount to the Receiver General of Canada is more than $10,000, it must be made as an electronic payment. This […]
