Taxes Canada

Corporate Canada Warns Trump's Tax Plan A Threat

CP | Andy Blatchford, The Canadian Press | Posted 04.27.2017 | Canada Business

Companies in Canada would head south of the border if Trump's tax plan happened, experts predict.

6 Ways The New Federal Budget Can Affect Your 2017 Tax Return

H&R Block Canada | Posted 04.07.2017 | Canada Business
H&R Block Canada

In March, the Liberal government announced the federal budget for 2017-2018. Although there were relatively few tax measures mentioned on March 22, it's important to know what these changes are and what the implications will be for you and your family in the coming years.

‘Shadow System' Of Tax Breaks For The Rich Costs Canada Billions

The Huffington Post Canada | Daniel Tencer | Posted 12.05.2016 | Canada Business

Tax deductions cost $100B annually, and the vast majority help the richer half.

Liberals' Small-Biz Tax Decision Will Boost Revenue, Cost Jobs: PBO

CP | The Canadian Press | Posted 05.11.2017 | Canada Business

Tax cut delay will cost 1,240 jobs, PBO says.

Should You Leave Canada For Tax Reasons?

CP | Lauren Krugel, The Canadian Press | Posted 04.18.2016 | Canada Business

Leaving the country to avoid taxes could be more hassle than it's worth.

Homeward-Bound Laid-Off Oil Workers Could Face Big Tax Bill

CP | Craig Wong, The Canadian Press | Posted 04.08.2017 | Canada Business

Alberta has low income tax rates. Other provinces, not so much.

This Is How Much Tax Loopholes For The Rich Cost Canada

The Huffington Post Canada | Daniel Tencer | Posted 02.24.2016 | Canada Business

Capital gains taxes are the biggest problem, Toby Sanger says.

Trudeau Should Hike Income Tax On Rich To 65 Per Cent: CCPA

The Huffington Post Canada | Daniel Tencer | Posted 10.28.2015 | Canada Business

Incoming prime minister Justin Trudeau’s plan to raise income taxes on the country’s most affluent earners isn’t ambitious enough, and the new government should hike income taxes on Canada’s one-percenters to 65 per cent, says a new study.

Will Canada's Wealthy Skirt Trudeau's Tax Hike?

The Globe and Mail | Posted 10.27.2015 | Canada Business

Economists are questioning the potential impact of Justin Trudeau’s tax plan. They believe his pledge to run budget deficits and spend on infrast...

Canada's Small-Business Tax Rate Mostly Helps The Wealthy: Expert

CP | Jordan Press, The Canadian Press | Posted 09.16.2016 | Canada Business

OTTAWA — One of Canada's foremost tax experts argues in a new paper that it's time to raise small-business tax rates because too many wealthy Canadi...

'Sham' That Allows Wealthy Canadians To Avoid Taxes Revealed

CBC | Posted 09.10.2016 | Canada Business

A wealthy Victoria, B.C., family paid virtually no tax over a span of eight years – and even obtained federal and provincial tax credits – while ...

Total Is Taking On The Canada Revenue Agency

CP | The Canadian Press | Posted 09.02.2016 | Canada Business

CALGARY — The Canada Revenue Agency is demanding $11.5 million in tax owing and interest from Total Energy Services Inc. (TSX:TOT), a ruling the Ca...

Preparing Now May Avoid a Tax Bill Next April

Caroline Battista | Posted 05.29.2016 | Canada Business
Caroline Battista

Once April 30 passes, most people forget about their taxes for another year. It is tempting to just file it away but you should try to introduce a little tax planning into your financial life so next year's return holds no surprises. Especially if it involves a tax bill.

Ways to Be Smart With Your Tax Refund

Caroline Battista | Posted 06.14.2015 | Canada Business
Caroline Battista

The decision about what to do with your tax refund is particularly important to those young Canadians anticipating a refund. You want a vacation, and there's probably something you've wanted to buy and put off until you got your return. But consider this...

Tories' TFSA Plan Slammed As A $15-Billion Threat To Financial Stability

The Huffington Post Canada | Daniel Tencer | Posted 04.07.2015 | Canada Business

The Tories’ plan to double the contribution limit on tax-free savings accounts (TFSAs) hasn’t even been officially announced yet, but critics have...

How Disparate Taxation Can Lead to Black Markets

Salman Sakir | Posted 06.02.2015 | Canada Business
Salman Sakir

Taxation is mostly used by state governments to generate revenue; it is sometimes used as a policy tool to dissuade citizens from the consumption of different products or services. However, the introduction of disparate taxation may lead to unintended consequences. Disparate taxation on cigarettes may lead to the creation and expansion of black markets for cigarettes. It is very important to be cognizant of the unintended consequences of disparate taxation when it is used as a policy tool.

What Harper Giveth, The Provinces Taketh Away

The Huffington Post Canada | Daniel Tencer | Posted 03.30.2015 | Canada Business

Prime Minister Stephen Harper is undoubtedly hoping that this year’s round of tax cuts and expanded family benefits will make Canadians feel richer ...

Revenue Canada Told To 'Stockpile' Some Family Tax Cut Claims

CBC | Posted 05.20.2015 | Canada Business

Some families hoping to cash in on the government's much-hyped family tax cut may have to put their spring spending spree on hold for a few months. ...

As Tax Returns Roll In, Realities Of Family Tax Cut Come Out

CP | Ross Marowits, The Canadian Press | Posted 05.19.2015 | Canada Business

MONTREAL - Young Canadian families are beginning to learn the size of savings they'll glean from new federal tax cuts as they prepare their 2014 tax r...

Income-Splitting Means Fewer Women Working

CP | The Canadian Press | Posted 05.17.2015 | Canada Business

OTTAWA - The parliamentary budget office has found that the Conservative government's new income-splitting tax plan may encourage some low-wage worker...

8 Things You Need To Know Before Claiming New Family Tax Cut

CBC | Posted 05.02.2015 | Canada Business

Call it income splitting-lite. The version of the family tax credit announced by Prime Minister Stephen Harper last October was a tweaked version of a...

8 Ways to Stay Ahead and Organized this Tax Season

Professional Organizers in Canada | Posted 04.03.2015 | Canada Business
Professional Organizers in Canada

As income tax season creeps forward, many of us wince at the thought of dealing with bursting glove compartments or drawers of faded disorganized receipts, missing electronic documents and the ensuing weekend or evenings spent slaving over the associated paperwork and electronic chores. Here are 8 tips to help you stay organized and stress-free while filing your taxes:

Is A Family Earning $120K 'Middle Class'? Feds Think So

CP | Andy Blatchford, The Canadian Press | Posted 03.29.2015 | Canada Business

OTTAWA - Canada's finance minister insists low- and middle-income families will see two-thirds of the benefits from the Harper government's contentiou...

Feds Hound Senior With Dementia, Parkinson's For $12K In Taxes

CBC | Posted 02.03.2015 | Canada British Columbia

The Canada Revenue Agency is demanding thousands of dollars from a B.C. senior, who suffers from dementia and Parkinson's disease, for failing to decl...

Canada Urged To Change Tax System In Fight Against Inequality

CP | The Canadian Press | Posted 01.26.2015 | Canada Business

OTTAWA - A new research paper for the C.D. Howe Institute says Canada can help combat rising income inequality by taxing people separately for their p...