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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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Tuition Savings Strategies for Business Owners
No matter how you slice it, paying for college or university tuition is costly. According to Statistics Canada, the average undergraduate paid $7,076 in tuition for the 2023-2024 school year. A BMO Wealth Institute study estimates that the cost of a four-year degree
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2024 Federal Budget Highlights & Commentary
On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024 to the House of Commons. No changes were made to personal or corporate tax rates. However, the inclusion rate on taxable capital gains has been
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The Bare Facts on The New Bare Trust Reporting Requirements
NOVEMBER 2025 Update: As part of the 2025 Budget, the Federal Government announced that bare trusts are not required to file a T3 return or Schedule 15 for the 2025 taxation year. Stay tuned for 2026 – new legislation and additional guidance are expected. In August
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New Reporting Requirements For Trusts
Each tax season brings the enforcement of tax changes announced in the previous year. This year, while there were no changes to the income tax treatment of trusts, there are significant additional reporting requirements for trusts with a fiscal year ending on or after
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Changes Coming to Underused Housing Tax – List of Exemptions
UPDATES: Budget 2025 Eliminated the UHT As part of its Fall Economic Update, the federal government introduced several important changes to the still new Underused Housing Tax (UHT). When the draft amendments are passed, it will have a significant impact on who is
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