The federal budget announcement on April 16, 2024 included a proposal to increase the capital gains inclusion rate, to be effective June 25, 2024.  A brief summary of the proposed changes are as follows: Currently, the inclusion rate for a capital gain is 50%. If there is a capital gain of $150, 50% – or …

The Canadian Government has implemented new conditions for In Trust For accounts. Unless specific conditions are met, ITF holders must file a T3 return for tax years ending after December 30, 2023. This includes many trusts, including bare trusts. Before the introduction of the new reporting requirements, a trust that did not earn income, dispose …

Personal tax season is just around the corner.  Please visit Personal Taxes for the following documents and other tools to help you get started: Our personal tax checklist to help you gather your annual tax information and make the process as simple as possible for you; Our engagement letter that documents the terms or our …