Immediate Expensing Rules: Good Tax Policy?
Over the course of the last two federal budgets (April 16, 2024 and November 4, 2025), the rules for claiming Capital Cost Allowance (CCA) have been uncertain. The proposal to extend immediate expensing rules for certain acquired assets were paused for over a year and then re-introduced in a series of four complex measures which together with new rules for Scientific Research and Experimental Development have become known as the “Productivity Super-Deduction”. A backdrop appears below. The key question: will this complexity be effective as an economic stimulator?Mortgage Stress Tests: What’s the Impact to Home Owners?
Buying a home this spring or approaching a mortgage renewal? May is the busiest time of year for real estate transactions, and you will want to see your tax and financial advisor to discuss the implications of the new mortgage rules and rising interest rates on your after-tax earnings.
Stories from the Field: CRA Service Standards Make Progress
Have the CRA’s service standards improved? Reports from tax professionals and their clients show progress this tax season. However, in light of increased audit activity, diligence and thorough documentation remain necessary - as this story from the field demonstrates – or you risk major financial consequences.
Ontario Budget Speech Today
Stay tuned to Knowledge Bureau Report next week as we decipher the controversial Ontario Provincial Budget. A pre-election budget, it has already been pre-empted with a series of goodies and promises:
Spring Growth: Learn How to Prepare Accurate, Audit-Proof Tax Returns
Are you comfortable with your level of tax knowledge? If not, you’re not alone; most Canadians admit that they don’t know enough, but still prepare their own taxes. Educate yourself this tax season to receive a larger refund, and arm yourself against time-consuming, expensive audits.
Dr. Michael Graham: On Budget 2018 and Cross Border Taxation
What did Budget 2018 cover that tax and financial advisors need to know now? What did it fail to address? Dr. Michael Graham weighs in on what we might anticipate in cross-border trade, U.S. tax reforms, the implications of Budget 2018 on small businesses in Canada.
Good News for Veterans: Veterans’ Education and Training Benefit
It’s always nice to share good news on the first week of spring: an important new benefit for veterans takes effect on April 1, 2018. First announced in the 2017 federal budget, the new Veterans’ Education and Training Benefit is part of the $133.9 million earmarked over six years to help veterans achieve post-military employment and position them to be more competitive in the workforce. But is it taxable?
