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CRA Interest Rates: The Growing Cost of Late Tax Payments
Rising interest rates aren’t just impacting mortgage rates and other loans, they are also impacting the cost of late payments to Canada Revenue Agency (CRA). CRA reviews the interest rate they charge to late tax payments every quarter. For July 1 to September 30,
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Tenants in Canada at Risk for Non-Resident Landlord Withholding Taxes
A recent ruling from the Tax Court of Canada may have significant ramifications for commercial and residential tenants and landlords on rental agreements in Canada. Under existing Canadian tax rules, tenants renting from non-resident landlords must withhold at source
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2023 Federal Budget Highlights & Commentary
On March 28, 2023, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2023 to the House of Commons. Below we have summarized the key provisions of the budget. Click here to read our full analysis and commentary –
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Guide To The Underused Housing Tax
The UHT applies to non-resident, non-Canadian owners of vacant or underused residential housing in Canada.
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Claiming Working from Home Expenses
For your 2022 personal tax filing, the Canada Revenue Agency has two options that will allow employees to report expenses they incurred while working from home. All eligible members of a household who worked from home can each claim working from home deductions using
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2022-2023 Tax Facts for Ontario Residents
We’ve updated our Tax Facts for Ontario Residents document to include the new 2023 rates, as well as the 2022 rates. GGFL’s “go-to” Tax Facts sheet is a quick reference guide on Ontario tax rates, including corporate income, RRSP limits, prescribed
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