Blog
Extension of deadlines under the Canadian Emergency Business Account (“CEBA”) program
Under the CEBA Program, interest-free loans of $40,000 or $60,000 were granted to a large number of Canadian businesses to help them overcome financial difficulties linked to the pandemic. These loans could be subject to a partial write-off of $10,000 or $20,000 if repaid on or before December 31, 2023. On September 14, the federal government announced the following: The deadline for...
Loi sur la publicité légale des entreprises
Cher Client, Chère Cliente, Veuillez noter que de nouvelles dispositions de la Loi sur la publicité légale des entreprises (la « LPLE ») sont entrées en vigueur le 31 mars 2023. Vous trouverez ci-dessous un résumé de celles-ci et comment vous y conformer. Les nouvelles obligations Les entreprises doivent dorénavant divulguer au Registraire des entreprises du Québec (le « REQ ») l’information...
Act respecting the legal publicity of enterprises
Dear Client, Please note that new provisions of the Act respecting the legal publicity of enterprises (the "ALPE") came into effect on March 31, 2023. Below is a summary of these provisions and how to comply with them. The new obligations Companies must now disclose to the Registraire des entreprises du Québec (the "REQ") information relating to "ultimate beneficiaries" as well as the following...
EI when you’re self-employed
If you are self-employed, you can still access EI Special Benefits. As a self-employed Canadian (or permanent resident) you can have access to EI Special Benefits if you register with the Canada Employment Insurance Commission. While this EI measure extends certain EI benefits to self-employed individuals, enrollment is completely voluntary. What are Special Benefits? Special benefits are the...
2023 Federal Budget Highlights
On March 28, 2023, Finance Minister Chrystia Freeland tabled the Government’s 2023 Federal Budget. Read below for a summary of key tax changes: Personal Income Tax Measures Business Income Tax Measures Sales Tax and Excise Tax Measures International Tax Measures Other Measures The Budget does not propose any changes to federal personal or corporate income tax rates, nor changes to the capital...
Underused Housing Tax (UHT) Update
On March 27, 2023, the Canada Revenue Agency announced that there will be no penalties or interest for those Underused Housing Tax (UHT) 2022 returns filed by October 31, 2023. They will provide transitional relief to affected owners since this is the first year of the UHT administration. This transitional relief means that although the deadline for filing the UHT return and paying the UHT...
2023 RRSP guide: RRSP deadlines, contribution limits, and more
It’s that time again when Canadians go out and buy RRSPs for the past year. Here’s a comprehensive resource to help you make good RRSP decisions this year. Who is eligible to buy RRSPs? Anyone who has earned income, has a social insurance number, and has filed a tax return can contribute to an RRSP up until December 31 of the year they turn 71. After this age, if you continue to have...
Tax Alert – Do you own a residential property in Canada?
The Underused Housing Tax Act was passed into law in June 2022. On January 17, 2023, Canada Revenue released detailed technical information related to the Underused Housing Tax ("UHT"). The UHT is a Canada wide tax which is applicable to vacant or underused residential property in Canada. Residential property is a defined term for purposes of the UHT, it does not include a property that...
Personal Tax Changes in 2023 You Should Know About
Taking control of your taxes means positioning yourself to be one step ahead of your tax requirements. A major component of being prepared for tax season is having the knowledge you need to take full advantage of all the limits, benefits, credits and deductions available to you. With that in mind, let’s look at some of the important tax changes for this year that you should be aware of: Changes...