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Introduction Under new Canadian legislation, bare trust arrangements are now subject to the filing requirements of a T3 Trust Income Tax and Information Return, where they previously were not required to. This new legislation applies to trusts with…
Budget 2022 proposes to create the Employee Ownership Trust: a new, dedicated type of trust under the Income Tax Act (Canada), to support employee business ownership in Canada.
The Canadian federal government has released draft legislation for a new tax on the sale of new luxury cars and aircraft with a retail sale price over CAD$100,000, and new boats over CAD$250,000. The tax will be the…
On July 5th, 2021, the British Columbia Court of Appeal ruled that the province’s foreign buyer’s tax is constitutional.
The 2021 Federal budget proposes to introduce a new national one percent (1.00%) tax on the value of non-resident, non-Canadian owned residential real estate property considered to be vacant or underused. The tax applies to owners other than…
Given MP Trudeau's commitment to running deficits for the next few years, he will be simultaneously looking for new forms of revenue. Perhaps small business is in his cross-hairs. Let's hope the Minister focuses her energies on those…
The new double tax agreement between New Zealand and Canada is set to facilitate investment and trade between the two nations
The double-taxation agreement between Canada and Spain has been amended to reduce withholding tax rates on dividends and interest payments, and to include standard provisions for the exchange of tax information.
Canadians with income from foreign assets are now obliged to report them in much more detail on Form T1135.
Canada – Budget 2022 Implementation
Bill-19 includes an outright ban on foreign investment in Canadian housing for the next two years, as well as the luxury tax on the sale of new luxury cars and aircraft. It also allows the government to seize…