New Mega Deduction a Good Start, But More Tax Reforms Are Needed
The Federal government has unveiled a Productivity Mega Deduction, which will provide immediate expensing under Capital Cost Allowance (CCA) provisions for a broad range of depreciable property, importantly on a permanent basis, for acquisitions on or after September 15, 2026. Check out the noteworthy exclusions are listed below. This tax reform is a good start, but much more needs to be done, especially for small business owners and average taxpayers to make Canada truly competitive across our tax base.PIER Into The Future
With mixed feelings of elation and dread, accounting, bookkeeping and tax specialists across Canada begin the annual ritual of preparing for 26 million tax returns.
Taxable and Non Taxable Auto Allowances and Benefits
Reasonable motor vehicle allowances are not taxable if it is reasonable.
Employers’ Treatment of GST/HST on Employees Taxable Benefits
Some employee taxable benefits are subject to GST/HST, while others are not.
New Legislation: The Economic Action Plan 2014 Act, No. 2
New legislation from the Department of Finance, The Economic Action Plan 2014 Act, No. 2, received Royal Assent on December 17.
Windfall Court Victory for Taxpayer Reveals Hidden Merits of Informal Procedure
Legge v. The Queen (2014) TCC 360
Improving Economic Potential: A Smart Financial Goal
Happy New Year! What’s your “economic potential” in 2015?
