News Room

May 2025 Poll

Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%,  go far enough to help Canadians impacted by high costs?

Business News: Changes to Source Deductions and ECP Interesting

Announcements were made related to farming and fishing businesses, CCA for clean energy generation, and a proposal for changes to the rules on Eligible Capital Property.

GST/HST News: Focus on Health Care and Registration Compliance

GST and HST changes were announced related to exemption of certain health care services, nil consideration elections for closely related persons, and registration compliance.

Previously Announced Changes to be Implemented in 2014

Previously announced changes that will be implemented this year affect auto expense deductions, labour-sponsored venture capital coporations, and GST/HST exemptions for hospital parking.

Do You Know What Income is Tax Exempt?

As critical as it is to understand what income is taxable in order to avoid expensive penalties, it is just as important to know what income is tax exempt.

Are Trading Service Subscriptions Deductible?

I pay monthly for an options trading service that gives me options trade ideas that I execute in my non-registered account. Can I put the total annual cost of the service as an investment cost on my tax return?

CRA Seeks Input on RTPP Program

The new Registration of Tax Preparers Program, proposed to come into effect in two years, will keep track of errors associated with a particular registrant in an effort of improve compliance. CRA is seeking input on this change in its relationship with professionals.
 
 
 
Knowledge Bureau Poll Question

Does the Liberal promise expected soon to cut the lowest personal income tax rate by 1% to 14%, go far enough to help Canadians impacted by high costs?

  • Yes
    3 votes
    12.5%
  • No
    21 votes
    87.5%