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?

Evelyn Jacks:  Minimize Tax on Severance

Retirement planning may begin for you–quite unexpectedly–with the receipt of a retiring allowance or severance package from your employer.  

Year-End Planning: Verify Charitable Status

Year-end is charitable giving time, but remembering to verify the tax status of any organization that you intend to donate a considerable sum to is very important as not all benevolent oriented organizations will allow a tax credit under the Income Tax Act. Last month, a hopeless appeal was lost in the Tax Court of Canada, for example.  

Tax Free Savings Accounts at Death

If a surviving spouse or common-law partner is designated as a successor holder of the TFSA either in the TFSA contract or in the deceased taxpayer’s will, the successor becomes the owner of the TFSA.

What is a Principal Residence for Tax Purposes?

With the Senate scandal dominating the news, the issue of what is a principal residence for tax purposes seems an appropriate question.

Tax Consequences of Holding a Mortgage

Where a taxpayer has disposed of a capital property and a portion of the proceeds is receivable after the end of the taxation year, the taxpayer may claim a reasonable capital gain reserve for the funds not yet received.

Accelerate Your Designation on the Fast-Track

For the experienced professional, get started on the Fast-Track toward designation by enrolling in November’s Corporate Tax Bootcamp.
 
 
 
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
    9.68%
  • No
    28 votes
    90.32%