Prime Minister Mark Carney announces support for Canada’s lumber industry citing heavy reliance on US exports and vulnerability to trade policies.
With Canada facing record levels of illicit funds, business leaders should prudently decline to provide services when a client can't credibly explain source of funds, strengthening AML efforts.
Federal Budget 2025 introduced a new set of dividend suspension rules that restricts a corporation’s ability to recover refundable dividend tax on hand (RDTOH).
In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.
Further proposed amendments to the AMT rules released by Finance on August 12 may impact certain taxpayers. It's important to determine if you're affected and talk to your advisor about potential next steps.
Property owners with vacant homes in Canada should be aware of the new underused housing tax (UHT), which came into effect on January 1, 2022.
The ON FES 2025 estimates a $13.5 billion deficit for the 2025-26 fiscal year, an improvement from the $14.6 billion deficit projected in the 2025 budget.
Certain multinational enterprise groups may be subject to a minimum effective tax rate of 15% on income in every country they do business, under new GMT rules.
On July 4, 2025, U.S. President Donald Trump signed the “One, Big, Beautiful Bill” into law, enacting the largest tax cuts in American history.
Despite Parliament being prorogued and subsequently dissolved, the CRA has confirmed that it will continue to administer the proposed increase to the lifetime capital gains exemption to $1.25 million retroactively, effective June 25, 2024.
