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.Estimate Income Tax
Easily determine total taxes paid for individuals and/or couples based on different combinations of income sources and more with the Income Tax Estimator. Try a free trial today!
Amendments Implement the Rest of Budget 2013
On October 18, Finance Canada released proposed amendments to the Income Tax Act, the Excise Tax Act and the Income Tax Regulations for the remaining provisions from the March 21, 2013 Federal Budget.
Tax Appeal Was Not Bountiful for Mormon Sect Leader
Bountiful is literally not on the map. It is the name that the Mormon fundamentalists call the community based at Lister, just a kilometer north of the U.S. border and seven kilometers from Creston.
Toothache? Backpain? See Your Doctors as Part of Year-End Planning
Got a toothache? Need more prescriptions? When you move up your medical appointments to before year-end, you may also increase your tax refund. That makes a visit to your dentist, eye doctor, or medical doctor a tax wise strategy at year-end.
Evelyn Jacks: Looking Back – and Forward on Innovation in Tax
I am excited about our upcoming national workshop tours with Cameron Peters, President of Trilogy Software, Larry Frostiak, FCA, and Alan Rowell, MFA, DFA-Tax Services Specialist.
TFSAs: A Part of Sound Year-End Planning
With year-end tax planning now in our thoughts, one investment option to consider is the Tax Free Savings Account (TFSA).
