by Sherry Zheng CPA (Delaware), MTax | May 30, 2024 | Investment Planning
The recently announced 2024 Canadian federal budget has proposed an increase to the capital gains inclusion rate. Effective June 25, 2024, the inclusion rate for capital gains will increase from 50 per cent to 662/3 per cent. For individuals, the inclusion rate will...
by Sherry Zheng CPA (Delaware), MTax | Dec 22, 2023 | News, Tax Planning
The 2023 federal budget announced significant changes to the Alternative Minimum Tax (AMT) regime to better target the AMT to high‑income individuals. On August 4, 2023, the Department of Finance released draft legislative proposals to modify the AMT regime, effective...
by Sherry Zheng CPA (Delaware), MTax | Apr 4, 2022 | News, Tax Planning
What You Can Do if the Federal Government Increases the Capital Gains Rate in 2022 Introduction Although the Canadian government has considered raising the capital gains rate in previous years and declined to do so, some are speculating that increasing debt, campaign...
by Sherry Zheng CPA (Delaware), MTax | Oct 9, 2020 | News, Tax Filing Requirements, Tax Planning
Non-residents of Canada can continue to hold RRSPs after leaving Canada. Income and gains in an RRSP are considered tax-free in Canada and in many foreign countries with which Canada has tax treaties and where non-residents may live. As such, non-resident taxpayers...
by Sherry Zheng CPA (Delaware), MTax | May 6, 2020 | News, Tax Filing Requirements, Tax Planning
Canada has announced a series of measures to help businesses in response to the hardship caused by COVID-19, including an extension of GST/HST payments up to June 30 for a particular period. GST/HST filing and payment deadlines vary depending on your GST/HST filing...
