Insights

Ontario Catch Up payments

On October 20, 2022, Stephen Lecce, Ontario Minister of Education, announced the launch of the Ontario Catch Up Payments offering parents $200 or $250 per child to help offset costs as they support their children as they catch up….

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CEBA Loan Extension – December 31, 2023

As initially discussed in our e-blast Loan forgiveness repayment deadline extended for the Canada Emergency Business Account (CEBA), Finance announced on January 12, 2022 that the repayment deadline for CEBA loans to qualify for partial loan forgiveness was extended…

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Finance Announces New Support for Individuals

On September 13, 2022, Finance Canada announced three new support programs for individuals to help combat rising costs from inflation. The programs are proposed at this stage and will require Royal Assent before coming into effect. Additional details will…

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Residential Property Flipping Rule

As first discussed in our 2022 Federal Budget Commentary, Finance proposed to introduce a new rule that will tax gains arising from the disposition of a “flipped property” (including a rental property) as ordinary income. Draft legislation was released…

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New Reporting Requirement for Trusts

On August 9, 2022, Finance Canada released draft income tax technical amendments, legislation, and explanatory notes to implement outstanding Budget 2022 and other measures. Many of these measures were discussed in our Federal Budget Commentary 2022. Included in the…

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Lock in Prescribe Rate Loans by June 30, 2022

High income individuals can split income with their spouse/common-law partner or children (either directly or through a trust) using prescribed rate loans. The current prescribed rate of interest is 1% until June 30, 2022 and will double to 2%…

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Federal Budget Commentary 2022

On April 7, 2022, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, to the House of Commons. We review the highlights of…

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Doing Business in Canada Webinar Featured By MGI Worldwide

Our recent webinar has been featured by MGI Worldwide as a “must-watch” for anybody interesting in learning about Doing Business in Canada. The Webinar provides a general overview of the Canadian and Ontario landscape, including high level insights into…

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2021 Personal Income Tax Checklist

It’s tax season again and we’re offering you a checklist to make sure you compile all information necessary to complete your personal tax return. In this 2021 Personal Tax Return Checklist, you will find a list of information that…

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