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Tax
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January 07, 2025
Goodmans welcomes new partners
Goodmans LLP has started off the year by announcing that three lawyers have been added to the firm’s partnership: Chris Baxter, Danielle Levesque and Josh Zelikovitz.
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January 07, 2025
CRA informs businesses of major changes affecting taxes in 2025
The Canada Revenue Agency (CRA) is reminding businesses about changes to business tax to take effect in 2025, discussing capital gains inclusion rate, additional Canada Pension Plan contributions, changes to trust reporting and more.
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January 06, 2025
Government bills die on order paper as Parliament prorogues, Justin Trudeau announces departure as PM
After more than nine years as Prime Minister of Canada, Justin Trudeau announced that Parliament is prorogued until March 24, 2025, and that he will step down as prime minister and leader of the Liberal Party of Canada once his successor has been chosen “through a robust nationwide competitive process.”
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January 03, 2025
B.C. increases income, property value thresholds for renter’s tax credit, homeowner grant
British Columbia has increased the income threshold for its renter’s tax credit and the property value threshold for the homeowner grant to help B.C. residents with their housing costs in 2025, according to a Jan. 2 provincial government release
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January 03, 2025
CBSA announces plan to begin first preclearance operation in U.S. sometime in 2025
Under pressure from U.S. president-elect Donald Trump to tighten border security, the Canada Border Services Agency (CBSA) has announced it will open its first preclearance operation at a U.S. border crossing sometime in 2025.
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January 03, 2025
Miller Thomson expands Waterloo office with two lawyers
Miller Thomson announced that lawyers David Jutzi and Lee Sauer have joined the firm as associate counsel, effective Jan. 2, 2025, enhancing the firm’s Corporate M&A and Private Client Services practices in the Waterloo Region of Southern Ontario.
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January 02, 2025
Feds announce 2025 automobile deduction limits and business expense benefit rates
The federal Department of Finance has announced the 2025 automobile income tax deduction limits and expense benefit rates to apply effective Jan. 1, increasing the ceiling for capital cost allowances (CCA) among other changes.
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January 02, 2025
Cassels welcomes 10 new partners in 2025
The following lawyers have been admitted into the Cassels Brock & Blackwell LLP partnership for 2025:
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January 02, 2025
Key deadlines, tax compliance for executors and trustees
I have previously written about executors’ tax compliance responsibilities. In the past two-plus years since that article, there have been a number of changes of which executors and trustees should be aware. This article provides an overview of key tax compliance responsibilities of executors and trustees and highlights some of these recent changes.
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January 02, 2025
Ottawa to extend deadline for 2024 charitable donations to Feb. 28, 2025
Aiming to minimize the negative impact on Canadian charities of the recent postal strike, Ottawa has announced that it will introduce legislation to extend by two months the usual Dec. 31, 2024 deadline for making charitable donations eligible for a tax credit in the 2024 tax year.