What is the Flipping Tax and Why is it Important?
The B.C. government announced in its 2024 budget a plan to introduce a tax (the Flipping Tax) on income earned from the sale of a property within 730 days of acquisition....more
The 2023 Budget proposes material changes to the alternative minimum tax (AMT) regime which, as discussed below, could result in significant increases to taxes on capital gains (i.e.,5-6 percentage points). Although...more
In the recently released Budget 2021, Canada's federal government announced its plan to continue with the development of a Digital Services Tax (DST) to be imposed on certain large taxpayers. The DST is proposed to apply at a...more
On May 25, 2018, the Federal Court of Canada released its decision in Her Majesty the Queen v The Toronto-Dominion Bank. The case revolved around whether the proceeds of the sale of a house by a debtor of Toronto-Dominion...more
Joint-ventures (JVs) with nominee corporations or bare trustees that have been elected to account for the GST/HST of the JV should be aware of the period of CRA administrative tolerance expiring on January 1, 2015. This...more
If you are planning on adding a closely related GST group election in the new year (CRA Form GST25), you will now need to file it with the CRA. Further, any pre-2015 elections will also have to be filed before the end of...more