Resources & Articles
Year: 2023
Managing increasing prescribed interest rates on loans
(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 Commentary
(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 Issues
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 Credit
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 Charities
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 Wisely
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
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 Business
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 Future
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
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 >
