CEBA Loan Deadline Extension The government announced a long-awaited deadline extension for the Canada Emergency Business Account (CEBA) loan repayments. Deadline Extension The repayment deadline has been extended to January 18, 2024 (from the … [Read more...]
Just for Doctors Newsletters
19
Oct, 2023 GAAR Changes to End Surplus Stripping?
October 19, 2023 by
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...]
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Oct, 2023 Reminder to File Your Underused Housing Tax (“UHT”) Forms by October 31, 2023
October 19, 2023 by
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...]
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Oct, 2023 The Short-Term Rental Accommodation Act: Targeting Airbnb, VRBO etc.
October 19, 2023 by
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...]
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Mar, 2023 The Federal Budget 2023 in a Nutshell
March 31, 2023 by
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...]
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Mar, 2023 Making your home mortgage tax deductible
March 14, 2023 by
If you have faced the unpleasant task of renewing your mortgage, you will undoubtedly have experienced the significant impact of the higher mortgage payment on your household budget. The mortgage interest rates have generally increased from about … [Read more...]
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Mar, 2023 File Your Underused Housing Tax Form Before April 30 To Avoid $10,000 Penalty!
March 14, 2023 by
The Federal Government has finally jumped on the band wagon of requiring certain property owners to declare the use of their property. Some may be familiar with the Empty Homes Tax (city of Vancouver) or the Speculation Tax (province of BC). Now it’s … [Read more...]
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Mar, 2023 The Tax Season is Here!
March 14, 2023 by
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...]
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Feb, 2023 The First Home Savings Account (FHSA). What you need to know.
February 6, 2023 by
Starting in April 2023, the new First Home Savings Account will allow prospective homeowners at least 18 years of age to save up to $40,000 for their first home. You can contribute up to $8,000 each year to the FHSA. You must use these funds within … [Read more...]
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Feb, 2023 The foreign buyers’ ban on purchasing Canadian real estate
February 6, 2023 by
Starting January 1, 2023, non-Canadians and non-permanent residents will be prohibited from purchasing residential property in Canada for two years. The Act will be repealed on January 1, 2025. The new law does not apply to commercial real … [Read more...]
