- Underused Housing Tax — Deadline Extended Again
- Capital Gains or Income?
- Buying a Truck for Your Business Near Year-End?
- GST/HST — Risks of Dealing With a Shady Supplier
- Around the Courts
Tax Update: Underused Housing Tax — Deadline Extended Again
Month: December 2023
New Trust Reporting Rules – Effective Tax Years Ended On or After Dec 31, 2023
In December 2022, the Canadian government enacted new legislation into the Income Tax Act which significantly broadens requirements for trusts to file tax returns (which were previously exempt from filing) and for all trusts to disclose additional information about the trust to the Canada Revenue Agency (“CRA”). Trustees should anticipate increased reporting requirements and potentially […]