Tax Tips and Reminders – September 2023 As a follow up to our newsletter from May, certain owners of residential properties may need to file an additional return to the government, with taxes potentially owing depending on whether you meet the exemptions. The filing and tax amount are due October 31st, 2023, there could be significant penalties. Please see more information in our newsletter here . Owners of Ontario corporations…

Tax Tips – May 2023: This edition of tax tips covers information regarding: Budget 2023: Top Five Items for Owner-Managers Underused Housing Tax (UHT):  Increased Disclosures and Tax TFSA: Carrying on a Business Within It Small Business Succession Planning Employee Time Theft Challenges And More….. Please contact our office if you have any questions regarding the information provided, or your individual tax planning at 905 891 5339.

HVGP Commentary On The Federal Budget March 2023 On March 28, 2023, the Federal Government tabled Budget 2023, which proposed a broad array of provisions impacting many individuals and businesses. The Budget did not include any changes to the personal or corporate tax rates or the inclusion rate on taxable capital gains. Some of the items of interest include the following: Intergenerational Business Transfers – Amendments were introduced to ensure…

2022 PERSONAL INCOME TAX RETURN INFORMATION We have compiled a number of resources for you to review as you begin to prepare your documents for your 2022 Personal Income Tax Return: 2022 Personal Tax Checklist 2022 Personal Tax Changes and Reminders Canada federal income tax rates for 2022 Tax year December year end tax planning tips Also a reminder of important dates: The 2022 RRSP contribution deadline for it to…

Tax Tips – January 2023: This edition of tax tips covers information regarding: ·       Covid Benefits: Review/Audit Activity ·       Updated CRA Policies for Employee Gifts and Parking ·       Witnesses for Legal Documents ·       Canada Dental Benefit for Youth ·       One-Time Top Up to Canada Housing Benefit for Low Income Renters ·       And More….. Please contact our office if you have any questions regarding the information provided, or your individual tax planning at 905 891 5339.

Wishing you a happy holiday season! This time of year is an opportunity for us to reflect on what we are most grateful for this past year. And of course the top of that list is our team. With their ongoing dedication we were able to move through the past few years of ever changing scenarios, government programs and filing changes while continuing to provide our clients with quality advice…

Year End Tax Planning Tips and Reminders – December 2022 As we approach the end of the year, now is a good time to start thinking about tax planning so that you make the most of opportunities available to you, as well as be prepared when deadlines are due. As a result of rising inflation and increasing housing costs, the Federal Government has proposed several individual and corporation tax measures….

Tax Tips – October 2022: This edition of tax tips covers a number of tax considerations to help you with your planning. Please read more about the increase to prescribed interest rates, taxability of crowd funding, expanded disclosure requirements for trusts, director and executor liabilities, denial of ITCs, and the withholding and reporting of tips as employment income. READ TAX TIPS OCTOBER 2022

Tax Tips – September 2022: This edition of tax tips covers a number of tax considerations to help you with your planning. Please read more about deductibility of travel expenses between home and work, excess land for a principal residence, personal service business, TFSA overcontribution, and child benefits in shared custody arrangements.

Tax Tips – May 2022: This edition of tax tips covers a number of tax considerations to help you with your planning. Please read more about Proposed budget changes to buying and selling a home, CERB/CRB Eligibility Verification, Digital Adoption Grants and more. LINK