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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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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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New Rules for Airbnb and Other Short-Term Rental Owners
Will You Be Entitled to Deduct Your Expenses in 2024? If you rent your cottage, your vacation home, your condo, your house or any other residential property for short periods of time using Airbnb or another platform, staying compliant with local regulations is more
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