TaxTalk 2019 – Federal Budget Highlights
The Federal Government’s 2019 Budget did not contain any changes to the personal and business tax rates but does include some additional tax credits and other incentives and enhancing existing ones, giving the Canada Revenue Agency....
TaxTalk 2018 - 2018 Year-End tax planning for Canadian Businesses Doing Business in the U.S.
The 2017 U.S. Tax Reform brought many changes for businesses. Highlighted below are five changes to U.S. corporate tax law that ....
TaxTalk 2018 - 2018 Year-End tax planning for U.S. individuals
This summary addresses common year-end 2018 federal tax issues for Canadian businesses with U.S. operations. ....
TaxTalk 2018 - New WIP Rules For Professionals
Members of designated professions (accountants, dentists, lawyers, medical doctors, veterinarians, and chiropractors) may elect to exclude the value of their work in progress (WIP) in ....
TaxTalk 2018 - 2018 Year-End Tax Planning
As the end of 2018 approaches, this TaxTalk is a reminder to evaluate your finances and contemplate ways to improve your tax position. Personal tax planning is important ....
TaxTalk 2018 - Keeping Your Records Straight
Consider the case of the following Ontario businessperson. In 2009, he was charged with failing to keep proper books and records as required under tax legislation. He pleaded guilty in court, and ....
TaxTalk 2018 - 2018 Fall Economic Statement
On November 21, 2018, Canada’s Finance Minister Bill Morneau presented the federal government’s Fall Economic Statement. The Fall Economic ....
TaxTalk 2018 - US Supreme Court Ruling
On June 21, 2018, the U.S. Supreme Court overruled a longstanding court precedent that applied to the collection of sales tax from online and other remote retailers. In South ....
TaxTalk 2018 - Federal Budget Highlights
Federal Finance Minister Bill Morneau presented the 2018 Federal Budget on February 27, 2018 and included a number of tax measures that will impact Canadian taxpayers ....
TaxTalk 2017 – Update to Income Sprinkling Rules Announced on December 13, 2017
Finance Minister Bill Morneau released what he referred to as clarified rules around income sprinkling. As previously expected, these new income sprinkling rules are set to take effect on January 1, 2018....
TaxTalk 2017 – Additional Update on Proposed Tax Changes - October 2017
On October 18th and 19th the Federal Government announced additional steps in its plan to move forward on changes to the tax system limiting the tax deferral opportunities related to passive investments held in private corporations....
TaxTalk 2017 – Update on Proposed Tax Changes - October 2017
On October 16th the Federal Government announced its plans to reduce the federal small business tax rate from 10.5% to 9% by 2019, however, they also indicated they will continue to take steps to ensure that Canadian-controlled private corporation status is not used to reduce personal income tax obligations for high-income earners rather than supporting small businesses....
TaxTalk 2017 – US Tax Reform - The Long-Awaited Tax Proposal: “Unified Framework for Fixing our Broken Tax Code” - October 2017
On September 27, 2017, the Trump Administration and Republican leaders released their framework for tax reform that would make changes to both individual and business taxation, including a series of tax cuts that the Republican Party hopes to pass this year....
TaxTalk 2017 – Overview of the Proposed Tax Rule Changes Released by the Department of Finance on July 28, 2017
Some of the proposed measures being introduced by Finance target income splitting using private corporations between family members....
TaxTalk 2017 – Federal Budget
The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution....
TaxTalk 2016 – Federal Budget Highlights
The major changes contained in the budget include the elimination of certain tax credits such as income splitting for couples with children, the Child Fitness Tax Credit, the Children’s Art Credit and the Education Tax Credit and Textbook Tax Credit....
TaxTalk 2016 – Ontario Budget Highlights
On February 25 2016, Finance Minister Charles Sousa delivered Ontario’s 2016 Budget. The budget does not include any changes to Ontario’s personal and corporate tax rates but certain personal and corporate tax credits are being eliminated....
TaxTalk 2016 – Changes to the Principal Residence Exemption Rules
On October 3, 2016, the Department of Finance introduced some significant changes to the principal residence exemption (PRE) rules....
Tax Rate Tables
2018 Tax Rate Tables
2018 Tax Table Quick Calculations.
2017 Tax Rate Tables
2017 Tax Table Quick Calculations.
2016 Tax Rate Tables
2016 Tax Table Quick Calculations.
The new 15% Ontario non-resident speculation tax
On 20 April 2017, the Province of Ontario announced a new 15% non-resident speculation tax (NRST) on the purchase of residential property located in the Greater Golden Horseshoe (GGH) region by....
Impact of New Principal Residence Exemption Rules on Non-Residents Purchasing Canadian Real Estate
On October 3, 2016, the Canadian Department of Finance introduced some significant changes to the principal residence exemption (PRE) rules....