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?Your Marginal Tax Rate
Your marginal tax rate is a measure of the rate of tax you’ll pay on the next dollar earned or, alternatively, the rate of savings on the next dollar deducted.
Life Insurance Rules “Modernized”
The Income Tax Act contains rules pertaining to the taxation of income earned on the savings in a life insurance policy. The tax treatment differs depending on whether a policy is classified as an exempt supply or not.
CRA: Absolutely No Reprisals In Reporting Service Mistakes
On August 23, the Minister of National Revenue, the Honourable Kerry-Lynne D. Findlay, and the Taxpayers’ Ombudsman, J. Paul Dubé, met with local business owners in Edmonton to discuss, in large part, the addition of a new right announced in the Taxpayer Bill of Rights in June.
Evelyn Jacks: Professional Back to School Tax Savings Tips
Did you just drop a bundle on school supplies and performance-enhancing running shoes? Parental peer pressure from the mini-mes can be daunting this time of the year, especially if Mandarin lessons, dance, and hockey all appear on the agenda.
The Court’s Analysis: Should Costs of Funding Young Tennis Talent Be Allowed?
Last week Knowledge Bureau Report told you about Michel Bouchard (the “Appellant”) established a partnership known as the Tennis Mania Limited Partnership (“the Partnership”) in order to generate funding to support his daughter’s tennis development. At just 9 years of age, the Appellant was confident that his daughter was talented enough to make a career out of playing tennis. What did the Tax Court of Canada think of the arrangement?
Extension of the Electronic Filing Season
As part of its ongoing efforts to improve electronic filing processes, the Canada Revenue Agency (CRA) is pleased to announce the extension of the electronic filing season for 2012 T1 tax returns.
