Tax information of interest (2023)
Our tax specialists would like to share with you a number of tax-related information of interest to you and your company. The purpose of this article is to help you optimize the close of your 2023 tax year and plan for the year ahead. Alternative minimum tax (IMR) The Alternative Minimum Tax (AMT) is a […]
Important news – Tax on underutilized dwellings
As of January1, 2022, the federal government has introduced legislation covering all owners of residential property in Canada. The Underutilized Dwelling Tax Act (“Act”) is designed to slow the escalation of the real estate market in certain regions of Canada. We also invite you to consult the initial terms and obligations in our article: You […]
Reselling your used vehicle
The shortage of new vehicles means that it’s now possible to make a gain when you resell your used vehicle, but beware: the gain is taxable. Privately-owned vehicle (personal travel) The vehicle is considered personal-use property when it is used solely for personal travel. For tax purposes, the proceeds of disposition and the acquisition cost […]
Tax on underutilized housing – the deadline is approaching!
Are you a Canadian non-resident individual, a Canadian private corporation, a partnership, a non-profit organization or a trustee of a trust; and own one or more residential properties? You must file a return and may be required to pay the new tax on underutilized dwellings (TLSU). Many people think they don’t have to file a […]
Enhanced tax credit for investment and innovation
Who can benefit from this tax credit? The Investment and Innovation Tax Credit, commonly known as C3i, was introduced when the Quebec government tabled its budget in March 2020. The aim of this measure is to increase investment in regions with weaker economic vitality as well as to stimulate business productivity. This credit applies to […]
Changes to the Quebec Pension Plan (QPP)
Following the publication of the Quebec budget for 2023-2024 last March, we take a look back at the measures aimed at the Quebec Pension Plan (QPP). These measures are designed to encourage experienced workers to stay on the job longer, in order to combat labor shortages, and to ensure the financial security of Quebecers in […]
Are you subject to the 1% law?
Act to promote workforce skills development and recognition By its real name, the Act to promote workforce skills development and recognition is sometimes referred to as the Skills Act, Bill 90 or simply the 1% Act. Employers who have to comply are required to invest an amount equivalent to a minimum of 1% of their […]
Are you subject to the 1% law?
Act to promote workforce skills development and recognition By its real name, the Act to promote workforce skills development and recognition is sometimes referred to as the Skills Act, Bill 90 or simply the 1% Act. Employers who have to comply are required to invest an amount equivalent to a minimum of 1% of their […]
Summary of the 2023 federal budget
On March 28, 2023, Finance Minister Chrystia Freeland presented the 2023 federal budget for “Canada’s plan: a strong middle class, an affordable economy, a prosperous future”. Among other things, this budget aims to make life more affordable for Canadians, invest in public health care and access to affordable dental care, and stimulate affordable energy, good […]
Additional period – Tax on under-utilized dwellings
As of January1, 2022, a new law has been introduced by the federal government for all owners of residential property in Canada. The Underutilized Dwelling Tax Act (“Act”) is designed to slow the escalation of the real estate market in certain regions of Canada. Canadian private corporations, most trusts, partnerships and non-profit organizations are not […]