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The Productivity Mega Deduction: Immediate Tax Write-offs Coming Your Way
The federal government has announced a proposed significant change to how Canadian businesses may deduct the cost of many capital investments. And it’s very positive news for business owners. Under the proposed Productivity Mega Deduction, businesses would be
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Builder Reassessments & GST/HST: Avoiding Costly Surprises
When it comes to GST/HST obligations, builders face some complex and often misunderstood rules in the tax system. These complexities can lead to reassessments from the Canada Revenue Agency (CRA) months or even years after a project is complete. Fortunately, these
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CRA Prescribed Interest Rate Drops to 3% on July 1: What This Means for Tax Planning
The Canada Revenue Agency (CRA) has announced that the prescribed interest rate will drop from 4% to 3% effective July 1, 2025. This marks another decrease in the prescribed rate since the large run-up from 2022—and it opens the door to new tax-saving opportunities
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Protect Yourself from Tax Filing Scams
Among the most damaging schemes are those involving false tax filings to claim fraudulent refunds.
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Fall Economic Statement Focuses on Business Investment
Monday was a day of political drama on Parliament Hill. Despite the turmoil, the Fall Economic Statement was eventually released, bringing with it a series of tax incentives aimed at driving business investment. The Statement projects a budget deficit of $61.9 billion
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Ten Year-End Tax & Finance Tips for Individuals and Business Owners
As the end of the year approaches, it’s a great time to think about the year that was and some tax strategies to implement to finish the year with a bang. Of particular interest this year is the significant proposed change to the capital gains inclusion rate, taking
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