To prevent foreign buyers from purchasing Canadian residential properties and holding them vacant, the Canadian Federal government announced in the 2018 budget that they would implement the new Underused Housing Tax Act (UHT). And this new act is finally effective...

Meal and beverage expenses of long-haul truck drivers are deductible at a higher rate than the 50% permitted for other transportation employees. During eligible travel periods in 2022, meal and beverage expenses are deductible at 80%. You are a long-haul truck...

If you are an international student studying in Canada, you may have to file a Canadian income tax return. You must determine your residency status to know how you will be taxed in Canada. Residency status For income tax purposes, international students studying in...

If so, do you want to minimize your Canadian taxes on the future income to be generated from such overseas inheritance?  If your answers to both questions are “yes”, you will have to initiate your planning process before the death of the person from whom the overseas...

Recessions can be daunting for small businesses with reduced sales, disappearing customers, and increased nervousness. However, proper preparation can help you endure and emerge stronger. What is a Recession? Recession is defined as two consecutive quarters of...

The Federal budget of 2018 introduced draft legislation for new trust reporting rules, which were to apply to trusts with year-ends on or after December 31, 2021. The draft was later revised, postponing the effective date to December 15, 2022 and receiving Royal...