Opportunity: Canadian Dollar Stabilizes, Somewhat
Things have started to turn around for the Canadian dollar in the second quarter of 2025. It hit a 22 year low in January of 2025. Investors and property owners, who have been swooning at the high burn rate in their travel plans and property maintenance abroad, may wish to consider recent more positive trends and consider some risk mitigation opportunities now that the dollar is stabilizing somewhat.Fourth Quarter Prescribed Interest Rate Set: It’s 2%
CRA announced on September 23 that the prescribed annual interest rates will indeed go up by 1% on amounts owed to and by the CRA by individuals and corporations.
CRA Cracks Down on Electronic Sales Suppression Software
CRA is cracking down on the use of electronic suppression of sales (ESS) software.
Small Business the Key to Future Growth: Poloz
New Governor of the Bank of Canada (the Bank), Stephen S. Poloz, told a Vancouver board of Trade audience last week that the key to economic growth in Canada lies in the creation of new businesses which in turn, create new jobs, and the new income required to propel our economy forward in the near future.
Evelyn Jacks: It’s Year End Tax Planning Time
It’s my favorite time of the year: with the beauty of fall comes the opportunity to arrange your affairs within the framework of the law to pay only the correct amount of taxes in 2013—no more.
Supreme Court: The Line Between Tax Audits and Investigations
In its Backgrounder to the new Section 237.3, which defines reportable tax avoidance transactions that may be subject to the General Anti Avoidance Rules, Finance Canada has assured taxpayers that the provision, is for “administrative purposes only” and therefore it is unlikely that it will be used to incriminate a taxpayer.
Donations Sent to Terrorists: CRA Revokes Charity Registration
On September 20, the Canada Revenue Agency (CRA) announced that it would revoke the registered charitable status of the Islamic Society of North America (ISNA) Development Foundation.
