Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

The income tax treaty that was first signed on November 11, 2012 between Hong Kong and Canada (the Treaty) was officially ratified and declared in force as of October 29, 2013.

Can employed and self-employed people claim the same expenses for home offices at tax time? The answer is no. Whether you are employed or self-employed matters; the following checklist can help you determine where your deductions fit.

Microsoft Canada had been illegally overcharging for its Intel-compatible PC operating systems and software since 1988. This was claimed in a class action lawsuit against Microsoft Corporation, Microsoft Canada Co. and the Attorney General of Canada (Intervener), by Pro-Sys Consultants Ltd. and Neil Godfrey at the Supreme Court of Canada.

On November 13th, the Honourable Jim Flaherty, Minister of Finance, issued a positive affirmation of Canada’s credit rating.

Sometimes an employer will require an employee to relocate to another part of the country. In such cases, it is not unusual for a low-interest or interest-free housing loan to be granted to cushion the costs of the move.

Reporting for taxpayers with segregated funds that feature guarantees at death require some advanced knowledge to this properly.