Tag: Tax news
CRA Mandatory Reporting Rules
New rules are coming into force that make it mandatory for people and their financial advisors to report certain financial transactions to the CRA. These rules were originally proposed back in 2021 as part of the federal budget an were enacted as of June 22, 2023. The purpose of these […]
Bill C-208 Developments and Intergenerational Business Transfers
We wanted to bring your attention to recent developments regarding intergenerational business transfers and the impact of Bill C-208 on tax-efficient succession planning. These updates have significant implications for the transfer of family businesses from one generation to the next, particularly in terms of tax advantages. Before the introduction of […]
Tax-Free First Home Savings Account (FHSA)
The Tax-Free First Home Savings Account (FHSA) was first proposed in Budget 2022. A backgrounder and draft legislation was released on August 9, 2022, which provided more details on the plan’s design. On November 4, 2022, the revised legislation was released as part of Bill C-32 (Fall Economic Statement Implementation Act, 2022) and […]
