Canada Taxes

Liberals Fall Short On Promise To Close Tax Loopholes, Again

Dennis Howlett | Posted 03.23.2017 | Canada Politics
Dennis Howlett

The Liberals failed to take any meaningful action on closing tax loopholes or leveling the digital playing field. They failed to deliver, again, on their election promise to end the stock options deduction that gives almost a billion dollars to some of the richest people in Canada. They failed to make the tax system simpler or fairer.

When Does It Make Sense To Do Your Own Taxes?

Cleo Hamel | Posted 03.20.2017 | Canada Business
Cleo Hamel

Taxes can be complex and most people don't want to deal with them. But unlike some tax pros that try to imply that you need a super-computer to prepare your return correctly, many people have straightforward returns that can easily be prepared yourself using a free or affordable tax software program.

Shut Down B.C. Lottery's Annual Taxpayer-Funded Spending Binge

Jordan Bateman | Posted 03.14.2017 | Canada British Columbia
Jordan Bateman

The BC Lottery Corporation's big schmooze-and-booze conference should have taxpayers, who pick up the tab, singing the blues. BCLC lost $208,642 on its 2016 New Horizons in Responsible Gaming conference. The conference attracted only 85 paid registrants.

Transferring The Family Cottage

Suzana Popovic-Montag | Posted 03.14.2017 | Canada Business
Suzana Popovic-Montag

The family cottage should invoke memories of warm weather, sunshine, and happiness. Unfortunately, for some, estate battles or family fights surrounding the cottage can tarnish these positive memories upon the death of the owner of the property.

CRA Takes Online Tax Services Down Indefinitely Amid Hacking Threat

CP | The Canadian Press | Posted 03.13.2017 | Canada Business

Services were taken down as a precaution, not because of a successful hack.

Conservatives Don't Stand A Chance In 2019

Luke Rebello | Posted 03.10.2017 | Canada Politics
Luke Rebello

After a crushing defeat in 2015, the Conservatives sought to find a leader who could do what Stephen Harper could not; bring new voters especially millennials to the party, appeal to minorities and immigrants, and present a more moderate platform than the one Harper employed for his campaign.

Canadians Deserve To Know Why KPMG Tax Dodgers Were Let Off Easy

Dennis Howlett | Posted 03.10.2017 | Canada Business
Dennis Howlett

It is outrageous enough that wealthy clients got off with a slight reprimand. KPMG has, so far, paid no price for their role. The committee let Canadians down by not recommending a full investigation into this case and laying charges against KPMG if the evidence warrants it. And Canadians are right to keep demanding one.

New Tax Incentives For Wealthiest Quebecers Benefit All In Province

Jasmin Guénette | Posted 03.03.2017 | Canada Business
Jasmin Guénette

Having competitive tax policies that encourage wealthy individuals who own and run businesses to keep those businesses here - and keep paying taxes here - is good for all Quebecers. It helps grow the pie, and when the pie gets bigger, everyone can end up earning bigger and bigger slices.

Why Bill Gates Thinks We Should Tax Robots

Brett Caron | Posted 02.20.2017 | Canada Business
Brett Caron

As the founder of Microsoft, there are few people on the planet who have helped to guide technological progression (at least in the realm of computing) as much as Gates over the course of his 42-year career. The thrust of his argument is this: if robots replace human workers whose pay would otherwise be taxed, why then should the labour of the robots not also be subject to taxation?

Everything That's Different About Your Tax Return This Year

Cleo Hamel | Posted 02.16.2017 | Canada Business
Cleo Hamel

Every year there are changes to your tax return, and the 2016 tax period is no different. Several credits have either been removed or are being phased out as a result of last year's federal budget, and there are new credits available.

Canadians Widely Oppose Proposed Internet, Wireless Tax: Poll

The Huffington Post Canada | Daniel Tencer | Posted 02.06.2017 | Canada Business

But charging a sales tax on Netflix seems fair to many.

Dear Premier Wynne: I Would Have Fired You Long Ago

Kevin O'Leary | Posted 01.23.2017 | Canada Politics
Kevin O'Leary

Thank you for your letter. I have been writing you for a while now and was getting worried you were never going to write back. I'm getting involved in the Conservative leadership race because I can't stand watching incompetent politicians destroy my country. You and Justin Trudeau are two of them. Rachel Notley would be the third.

Close Loophole Bankrolling CEO Salaries With Taxpayers' Money

Dennis Howlett | Posted 01.05.2017 | Canada Politics
Dennis Howlett

There's been a lot of outrage over a new report that shows that Canada's wealthiest CEOs are paid 193 times more than the average Canadian. But there's an even darker side to the story. Ordinary taxpayers are subsidizing those multimillion-dollar salaries, courtesy of loopholes in our tax system.

Seemingly Innocent Cash Deals Cost All Canadians

Gabe Hayos, FCPA, FCA | Posted 12.21.2016 | Canada Business
Gabe Hayos, FCPA, FCA

The underground economy is toxic. It costs jobs, makes it harder for above-board businesses to compete and ruins faith in our tax system. It can also leave you holding the bag when you get sub-par results or someone gets burned in a cash deal. But there is something we can all do, and it's simple.

Proving Yourself To The Taxman

Cleo Hamel | Posted 12.01.2016 | Canada Business
Cleo Hamel

No one wants to receive a brown envelope from the Canada Revenue Agency but if you file a tax return, you can expect to get some correspondence from the taxman.

What Selling Your House Can Mean For Your Next Tax Return

Caroline Battista | Posted 11.28.2016 | Canada Business
Caroline Battista

You sold your house, you survived the move and your boxes are all unpacked -- great job! That can be quite an undertaking, I know. But the work isn't quite done yet. Recently, the government announced important changes that will add an extra step to selling your home -- reporting it.

Senate Changes Trudeau's Signature Middle-Class Tax Bill

CP | The Canadian Press | Posted 11.22.2016 | Canada Politics

One Senator called it "a significant improvement."

IRS Voluntary Compliance Programs Are Successfully Collecting Money

Cleo Hamel | Posted 11.15.2016 | Canada Business
Cleo Hamel

Unlike the Canadian tax system, the U.S. system is based on both citizenship and residency. It means that even if they leave the country to live elsewhere, U.S. citizens may have tax filing obligations with the IRS. In many cases, U.S. citizens didn't realize they needed to file tax returns after they left the country.

Even With Low Interest Rates, Federal Deficits Are A Concern

Jasmin Guénette | Posted 11.04.2016 | Canada Business
Jasmin Guénette

The federal deficit is rising, far beyond the $10 billion projected in the Liberal's election platform. The stated purpose of running $130 billion of deficits over five years is to stimulate the Canadian economy, whose prospects for growth are deteriorating.

Ottawa Must Ask Itself Two Basic Questions About Deficit Spending

Sean Speer | Posted 10.28.2016 | Canada Politics
Sean Speer

Finance Minister Bill Morneau will soon release the government's Fall Economic Statement and the expectation is for more stimulus spending and higher deficits. The surrounding debate in Ottawa has been mostly focused on "how" and "what" of deficit spending and insufficiently on "why" and "when."

Nestlé Isn't Alone, Every Damn Drink Maker Is Taking Our Water

Joshua Ostroff | Posted 09.26.2016 | Canada Business
Joshua Ostroff

Go on and boycott Nestlé. Here's a handy guide to all their products. But realize that despite Nestlé being a bad corporate citizen and the world's biggest bottler of water, boycotting them will not solve the problem. The issue isn't just bottled water, it's that we allow companies to drain our water table for what amounts to free. It's time to disrupt the entire beverage market's business model, which is to extract an ingredient for basically free and sell it for an absurd amount. We need to charge them a rate for that extraction that serves the public interest.

You'll Need To Earn This Much To Afford A House In Canada

Workopolis | Posted 09.23.2016 | Canada Business
Workopolis

From foreign buyers gobbling up properties sight unseen to young families trying to raise kids in condo towers, the Canadian housing market is a hot topic of discussion these days. But what do houses really cost these days?

Google Searched For (And Found) The Perfect Tax Havens

Dennis Howlett | Posted 09.14.2016 | Canada Politics
Dennis Howlett

In the past, Google's actual overseas tax rate has been as low as 2.4% -- across many countries where normal tax rates would be over 20%. Even Ireland charges a measly 12.5%. Google has maintained that these arrangements are entirely legal. Many countries have disagreed.

B.C. Cities Gathering To Find New Ways To Charge Taxpayers

Jordan Bateman | Posted 09.07.2016 | Canada British Columbia
Jordan Bateman

At a time when many B.C. taxpayers are struggling under the weight of their heavy tax burden, growing personal debt, and an incredibly high cost of living, our locally elected officials are there to remind us all of how hopelessly out of touch they are.

Tax Agreements: From Double Taxation To Double Evasion

Guy Caron | Posted 09.02.2016 | Canada Politics
Guy Caron

The issue of tax havens is inherently international in scope. As a result, the government can use tax agreements to fight tax avoidance schemes. Unfortunately, tax agreements haven't been used for that purpose. On the contrary, they have facilitated the outflow of Canadian money to offshore financial centres, and have done very little to break the damaging secrecy laws of these countries.