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
HVGP Commentary On The Federal Budget On April 7, 2022, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable, to the House of Commons. No changes were made to personal or corporate tax rates, nor to the inclusion rate on taxable capital gains. Some highlights include: Personal Measures Several proposals target housing affordability. A…
HVGP LLP Partner Announcement The partners of HVGP LLP are pleased to welcome Tony Tse as a Partner in the firm. Tony joined our firm as an articling student in 2013 and has become an invaluable member of our Team. He excels in assurance services as well as tax planning and other advisory services such as management and business consulting. As a manager he consistently led our client service teams…
2021 PERSONAL INCOME TAX RETURN INFORMATION We have compiled a number of resources for you below to review as you begin to prepare your documents for your 2021 Personal Income Tax Return. Please contact our office if you have questions regarding the information included below. 2021 PERSONAL TAX INFORMATION CHECKLIST The information provided in our 2021 Personal Tax Checklist will help you to assemble and organize your 2021…
Upcoming Personal Tax Reminders and Tax Tips for January 2022 This is a friendly reminder that the deadline to contribute to your Registered Retirement Savings Plan is March 1, 2022. To confirm your exact 2021 RRSP contribution limit for the year, please refer to your latest Notice of Assessment or log on to your Canada Revenue Agency account at CRA My Account Online. Please contact our office if you have any questions. The 2021 personal…
Extension To Government Support Programs The Federal government recently announced new subsidy programs which replaced the outgoing CEWS and CERS, and extensions to other pandemic support programs. The following are the significant updates of the support programs: Introduction of new wage and rent subsidy programs: the Hardest-Hit Business Recovery Program (HHBRP), the Tourism and Hospitality Recovery Program (THRP), and the Local Lockdown Program (LLP). New support for employed and…
