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?New! Check out the Official 2017 T1 and 2018 Income Tax Estimator
Knowledge Bureau is pleased to release two important tools to assist taxpayers and their advisors with authoritative tax information that’s fast and accurate: the 2018 Income Tax Estimator in the Knowledge Bureau Toolkit, and the new T1 Return, which appears in EverGreen Explanatory Notes.
Anything But Simple: Morneau’s Income Sprinkling Rules Start January 1
It’s official, family income sprinkling rules will take effect January 1, 2018, and, unless a family member can show active participation under still-complicated reasonableness tests, distributions of income from private family businesses will be taxed at top tax rates, with none of the progressivity in tax rates available to individuals. This will require an immediate rethinking of resources available to the economic unit known as the family business.
It’s Better to Give…Before the First-Time Charitable Donor’s Super Credit Disappears
In the spirit of the season, it’s heartwarming to know that the vast majority of Canadians are lending a helping hand to those in need. And what goes around comes around: be sure to inform your clients about tax credits they may qualify for, thanks to their generosity.
Focus on RRSP: Six More Year-End Tax Tips
There is still time to consider your own unique RRSP tax strategy to reduce income and taxes and increase refundable tax credits for your financial gain in 2018. The RRSP contribution deadline is March 1, 2018. Following is the last of our series of a dozen tips to consider as the holidays begin and before this year ends:
Choosing Your 2018 Career Path as an Employee or Entrepreneur
When setting your career-related New Year’s resolutions, it’s important to ask yourself a key question: “Do I see myself as an employee or an entrepreneur?”
People in the News: Barbara Schuster
Congratulations to Barbara Schuster from Investors Group who just graduated from Knowledge Bureau’s Advanced Tax-Efficient Retirement Income Planning self-study course, and had the following comments about her experiences:
