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?When Should You Transfer Your Assets?
Using our Tax-Efficient Assets Transfer Calculator, you'll understand the Adjusted Cost Base on disposition of assets and will be in a better position to determine when—at lifetime or death—to do so, and to whom. Try all Knowledge Bureau Calculators risk-free, today!
Ontario Budget Tinkers; Holds the Line on Taxes
The May 2, 2013 Ontario budget held the line on taxes but made some interesting changes that will directly affect Ontario taxpayers, especially those who count on tax credits to supplement income, and will reduce health taxes for small businesses as well, but this will be at the expense of larger businesses.
CRA Condo Audit Begins
Tax Audit Season is upon us and with it a warning for those who sold condominiums in 2012: The Canada Revenue Agency (CRA) is conducting an audit of condominium sales to check for non-compliance with the Income Tax Act (the Act).
The Onus of Proof: Details Are Required
Dr. Mike Orth Inc. v. The Queen 2013 TCC 123. Does solicitor-client privilege trump the CRA’s requirement for a detailed burden of proof?
Disability Tax Credit Promoters Restrictions Act
Last fall, Cheryl Gallant, MP for Renfrew-Nipissing-Pembroke introduced the Disability Tax Credit Promoters Restrictions Act, a private members bill to limit the fees charged for the preparation of Disability Tax Credit Applications.
Tax Efficiency: Sometimes, It Takes a Village
Tax filing season is over for close to 20 million Canadians whose tax returns have already been assessed this year. Of those, 14%, or just under 3 million taxpayers, had a balance due. On average, they owed $3700 upon filing; the rest got refunds (65%) or filed a nil return (21%) to receive refundable tax credits.
