Enhancing Tax Literacy for Teachers and Parents – Join the Movement https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/teachers-parents-join-movement-enhance-tax-literacy.html What the CRA Said On September 5, 2024, the Canada Revenue Agency (CRA) launched a new initiative to promote tax literacy among students, teachers, and parents. Tax literacy…
Evaluation of Canada Growth Fund’s Investment in Svante: Balancing Innovation with Sustainable Growth for Family-Owned Enterprises https://www.canada.ca/en/department-finance/news/2024/08/deputy-prime-minister-welcomes-canada-growth-fund-investment-in-svante-to-advance-carbon-capture-technology.html In August 2024, the Canada Growth Fund announced a significant investment of US$100 million (C$137 million) in Svante, a leading Canadian cleantech company…
Clarifying the New GST/HST Exemption for Psychotherapy and Counselling Therapy Services: What Family-Owned Enterprises Need to Know https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/clarifying-new-gsthst-exemption-psychotherapy-counselling-therapy-services.html As of June 20, 2024, a significant change has taken place in the realm of healthcare services in Canada, specifically concerning the…
The U.S. presidential campaign trail is no stranger to bold tax proposals, but one that has recently caught the public’s attention is the idea of eliminating taxes on tips. At first glance, it seems like a compassionate move—a way to…
As Canada’s housing affordability crisis deepens, homeowners, prospective buyers, and businesses are facing a trifecta of challenges: skyrocketing property taxes, persistently high interest rates, and increased capital gains inclusion rates on business properties. These financial pressures are not just numbers…
Analyzing the New Vaping Tax Regulations: Balancing Public Health and Economic Impact Government releases draft regulations on coordinated vaping taxation framework The federal government has released draft regulations to expand Canada's coordinated vaping taxation framework, aiming to reduce vaping rates…
Understanding CRA's Recent Advisory on Cryptocurrency Risk Indicators J5 issues notices to financial institutions about risk indicators tied to cryptocurrency assets In a significant move to bolster the fight against financial crimes involving cryptocurrencies, the Joint Chiefs of Global Tax…
The recent discussions around a potential home equity tax have sparked significant debate and concern among Canadians. Reports indicate that Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland have been in talks with the government-funded think tank Generation Squeeze…
The recent turmoil surrounding the Canada Revenue Agency's (CRA) bare trust reporting requirement has highlighted significant issues in tax administration and policy implementation. While the CRA's last-minute decision to pause the reporting requirement just days before the deadline has drawn…
Navigating the Income Tax Act (ITA) can be a challenging endeavor, especially for family-owned enterprises, their accountants, and their legal advisors. With its complex provisions and constant amendments, understanding the ITA requires precision, expertise, and a strategic approach. At Shajani…