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US Estate Issues for Canadian Residents

US Estate Issues for Canadian Residents
January 29, 2024
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Whether you are a US resident or not, it is important that all individuals understand US estate tax and how it can affect them upon death. Estate taxes are taxes that are imposed on the transfer of a person’s estate after their death. These taxes can be imposed by both the United States government and the Canadian government, and they can significantly impact the value of an estate.  

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Market-Based Sourcing in State Corporate Income Taxes

Market-Based Sourcing in State Corporate Income Taxes
November 9, 2023
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The division of income for state corporate income tax purposes is an important consideration for businesses operating in multiple US states, including Canadian businesses expanding into the US. For more information on the corporate income tax considerations for Canadian companies expanding into the US, we recommend reviewing our post on this topic, available here

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Enhanced GST Rental Rebate 

Enhanced GST Rental Rebate 
September 21, 2023

On September 14, 2023, Prime Minister Justin Trudeau announced plans to introduce new legislation to enhance the GST Rebate on new rental apartments. The new legislation is intended to incentivize construction of new rental homes and improve housing affordability for Canadians. 

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5 Things to Consider Before Becoming an Executor of a Will

5 Things to Consider Before Becoming an Executor of a Will
February 9, 2023

Being asked to be the Executor of a Will (or the Executor of an Estate) is one of the greatest possible honours any one person can receive. It is a true testament of trust bestowed upon you by the individual in question. While being asked to act as an Executor is certainly a flattering experience, it is important to know this responsibility can sometimes require an enormous amount of work—becoming a full-time job in some cases. 

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New Residential Property Flipping Rules

New Residential Property Flipping Rules
February 8, 2023

On December 15, 2022, Bill C-32 received Royal Assent which included the new residential property flipping rules. This new rule aims to ensure profits from flipping residential real estate are subject to full taxation and not eligible for capital gains treatment or the principal residence exemption.

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Family Trusts: 101

Family Trusts: 101

What is a Family Trust anyway and why do you need one? We have compiled some of the most common questions that our team receives regarding trusts to fully explain the intricacies of the Inter vivos (Family Trust) world. 

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New CRA Administrative Policy for Gift Cards

New CRA Administrative Policy for Gift Cards
November 21, 2022

As the end of the year and the holidays approach many employers are looking for ways to mark the occasion and thank their employees for another successful year. Gift cards are always a great choice; they're devoid of possible allergens, they offer a world of possibilities, and they're tax-exempt.

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GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1st, 2021

GST/HST Changes Effective July 1, 2021 As many of us have been confined to our homes during the pandemic for some or all of the past year, it should come as no surprise that online shopping platforms have flourished. Canadians have enjoyed the convenience and safety of shopping from their living rooms, confirmed in the Government of Canada's Fall Economic Statement, where it was noted that retail e-commerce was up nearly 70% in the first eight months of 2020.

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I’ve Submitted my Tax Return on Time… Now What?

I’ve Submitted my Tax Return on Time… Now What?

Cheers to making the “April 30th deadline”! So… now what? Now it’s a “choose your own adventure” based on your situation. 

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Ontario’s 2021 Budget Announcement: What It Means For You

Ontario’s 2021 Budget Announcement: What It Means For You

On Wednesday, March 24th, Ontario Finance Minister Peter Bethlenfalvy unveiled the province’s 2021 budget. This spending plan focused on healthcare, small businesses, and families with several key financial proposals. Read more about the 2021 budget announcement.

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