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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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Navigating the Changes to the Taxation of Capital Gains
Update prepared by Kody Wilson and Émilie Tremblay. What You Need to Know for Your 2024 Tax Filing Making Sense of the Confusion If you’ve been trying to follow the back-and-forth on the changes to the capital gain inclusion rate in Canada over the last few months,
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2024-2025 Tax Facts for Ontario Residents
We’ve updated our Tax Facts for Ontario Residents document to include the new 2025 rates, as well as the 2024 rates. GGFL’s “go-to” Tax Facts sheet is a quick reference guide on Ontario tax rates, including corporate income, RRSP limits, prescribed interest
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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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Planning for Death and Taxes – Incorporating Your Investments
As personal and corporate tax rates have fluctuated in recent years, incorporating investments has become an attractive option for Ontario residents holding sizeable portfolios. There are a number of potential advantages to holding investments in a company rather than
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