In this Tax Tips Update you will find a high-level summary of the most recent tax developments applicable to business owners, investors, and high net worth individuals including an overview of Documents Required to Claim a U.S. Foreign Tax Credit and Is Transferring Property to a Family Member a Taxable Transaction. This information is for educational purposes only as it is impossible to include all situations and exceptions. For questions specific to your circumstances…

The HVGP team had a busy month of April completing Personal Tax Returns for our valued clients.   After weeks of sitting at our desks for long days and weekends, snacking away to keep ourselves going, we needed a night out to stretch our legs and test our cardio.  Carved out into 4 partner led teams we tested our skills at Whirly ball, Dodge Ball and Lazer Tag emerging with some…

Despite failing to make good on “key election promises relating to fiscal management,” there are enough positive indicators in the budget that CPA Canada is taking a wait-and-see approach, calling it a “down payment on a long-term fiscal plan that charts a course to strengthen the Canadian economy.” Among the positive signs are efforts to close tax loopholes, reduce tax evasion and increase tax compliance.  Read more:  Federal Budget Commentary…

On February 25, 2016 Finance Minister Charles Sousa tabled his fourth Budget. This Ontario Budget Commentary highlights changes to personal tax credits that are being eliminated and addition of the so called “sin taxes” that are proposed.  From a business perspective, although there are no changes to corporate tax rates, there are proposed reductions to certain credits.   Provincial Budget Commentary 2016.

Effective December 7, 2015 the new Federal Liberal Government introduced a number of provisions to Federal Personal Tax Rates and mores. We have summarized the 2015 Personal Tax Changes and Updates and other new information you should be aware of. If you have any questions please contact us.

Here at HVGP, we are proud of our team. Our entire team works together tirelessly throughout the year to ensure our clients are receiving the highest quality service we can provide. The team works together to problem solve, share ideas and create an environment we all are proud to share. In October we wanted to take a few moments to enjoy a bit of down time before we ramp back…

The New Year is approaching quickly, and we want to ensure you have plenty of time to prepare for your 2015 tax return. Please take a moment to review the 2015 Personal Returns Checklist 2015 Personal Income Tax Return Checklist 2015 Personal Income Tax Return Checklist, and contact us if you have any questions.

December 31, 2015 is fast approaching… see the attached file for a list of tax planning considerations. Please contact us for further details or to discuss whether these may apply to your tax situation. 2015 Personal Returns TaxTips

On December 7, 2015 the Government of Canada Announced Tax Cuts to Strengthen the Middle Class. You can find more information at the Department of Finance Canada Website . If you have questions please reach out to our team at HVGP and we will be happy to answer your questions.

Ontario Budget Commentary   April 23, 2015 Introduction   On April 23, 2015 Finance Minister Charles Sousa tabled his third Budget.   The deficit for the 2015-16 fiscal year is projected to be $8.5 billion, which is less than had been forecasted in the 2014 Budget. The deficit is projected to drop to $4.8 billion for 2016-17 and to be eliminated by 2017-18. Unlike the 2014 Budget, the 2015 Budget…