Just for Dentists Newsletters

The deadline to contribute to a First Home Savings Account (FHSA) and get a deduction on your 2023 tax return is December 31, 2023. We previously wrote about the details of the program … [Read more...]

On October 26, 2023, only 10 days after the drafted legislation was released (see previous article) the NDP passed the legislation without any of the amendments that the opposition BC United Party had suggested. While the regulations to support the … [Read more...]

The 2021 Federal Budget brought in rules that allowed individuals, partnerships, or private corporations to entirely write off asset additions (some types of assets, such as buildings, were excluded) in the year of acquisition, unlike in previous … [Read more...]

The B.C. government introduced the Short-Term Rental Accommodation Act on October 16, 2023, in response to the housing crisis of long-term rentals. It aims at the estimated 16,000 homes in B.C. that are used exclusively as short-term rentals … [Read more...]

As we initially reported in our March 14, 2023 newsletter the government requires Canadians to file UHT returns for residential property held inside a private corporation, partnership or via a trust (including a bare trust). For the 2022 taxation … [Read more...]

The 2023 Federal Budget released draft legislation amending the General Anti-Avoidance Rules (“GAAR”) that would significantly impact any transactions the government finds abusive. After an initial consultation period, updated draft legislation was … [Read more...]

The 2023 federal budget was released with great anticipation for some possible harsh tax measures to counteract previous government over spending. However, with a projected federal deficit of over $40 billion it seems the government is keen to double … [Read more...]

In order to get a head start on tax filing, below is a list of information that may be required to complete your 2022 personal income tax returns: T4 Employment Income slips T4A Other Income slips T4A BCMA slip T4A(P) Canada Pension slip … [Read more...]

Imagine for a moment you are driving a car with no GPS to direct you, no instruments to tell you the speed and no fuel gauge or indicator light warning you the engine is running out of oil. It is unthinkable; you would never get into a car without an … [Read more...]

What is an estate freeze? An estate freeze refers to transferring the future growth of your corporate investments into your children's hands. An estate freeze limits the value of your estate reflected in your corporate holdings when the freeze is … [Read more...]