Resources & Articles

Year: 2023


Managing increasing prescribed interest rates on loansMarch 24th, 2023

(authored by RSM CANADA) The interest rates applicable for tax-beneficial loans in Canada have been increasing, which can impact the usefulness of tax planning that involved historically low rates.
Read More >

2023 Ontario Budget CommentaryMarch 24th, 2023

(authored by RSM CANADA) Budget 2023 revealed the framework for Ontario’s “Plan to Build”: a targeted approach to help people and businesses by offering tax relief to manufacturers and small businesses.
Read More >

UNREPORTED REAL ESTATE DISPOSITIONS: Multiple IssuesMarch 24th, 2023

A September 12, 2022, Tax Court of Canada case reviewed the gain on a residential property purchased in 2007 and disposed of in 2011. The...
Read More >

SAUNA AND HYDROTHERAPY POOL: Medical Expense Tax CreditMarch 23rd, 2023

In a December 4, 2018 Technical Interpretation, CRA was asked whether the costs of installing a steam shower (sauna) and hydrotherapy pool could be eligible...
Read More >

Changes to the Disbursement Quota Rules for CharitiesMarch 22nd, 2023

On December 15, 2022, Bill C-32, Fall Economic Statement Implementation Act, 2022, received Royal Assent. As a result, there have been changes to the Disbursement...
Read More >

WITNESSES FOR LEGAL DOCUMENTS: Choose them WiselyMarch 10th, 2023

A June 17, 2022, Ontario Superior Court of Justice case considered whether a will had been appropriately witnessed. In 2020, the owner of an insurance...
Read More >

EMPLOYEE GIFTS AND PARKING: Updated CRA
Policies
March 7th, 2023

CRA updated several administrative policies in respect of employment benefits, effective January 1, 2022. Two of the key changes relate to employee gifts and parking....
Read More >

How to Make a Payment with Canada Revenue Agency for Your BusinessMarch 3rd, 2023

Online Banking Payments Make a payment to the CRA through online banking, the same way you pay your phone or hydro bill. You are responsible...
Read More >

12 Tips to a Brighter FutureMarch 1st, 2023

Create a budget and include lump sum items such as vacation and gifts. Ensure you allocate funds to savings because there is no such thing...
Read More >

CANADA DENTAL BENEFIT: Support for those
with Young Children
February 23rd, 2023

The Canada dental benefit, announced in September 2022, provides up-front tax-free payments to cover dental expenses for children under age 12 without dental coverage. The...
Read More >