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The countdown has begun. The CRA website is reminding taxpayers that ‘charitable donations must be made by December 31, 2010 in order to qualify for a tax credit in the 2010 tax year.’ For advisors this may be a good time to discuss charitable giving with their clients. “Every time there’s a tax situation, there’s […]
By Vikram Barhat |December 22, 2010
3 min read
Tax News
Last Friday, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was passed and signed by President Obama. Since U.S. lawmakers seem to like to use acronyms a lot, I thought I’d give this one a try myself. How does TRUIRJCA sound? Don’t quote me on that. Let’s just call it the […]
By Terry F. Ritchie |December 20, 2010
4 min read
As the year draws to a close, here’s a quick review of the key tax changes and planning opportunities for 2010:
December 17, 2010
6 min read
With recent improvements in the financial markets, your clients may be more inclined to open their hearts and their wallets for charitable giving.
By Gena Katz |December 17, 2010
Canadians like to complain about high taxes and the CRA, but despite these grumblings, there are some legitimate tax-planning strategies and opportunities for business owners.
By Prashant Patel |December 17, 2010
Although an executive employee has fewer opportunities to minimize tax than a business owner, there are still a number of things an executive client may want to consider.
The federal government has proposed changes to the Income Tax Act provisions governing real estate investment trusts, which were exempted from the taxation treatment imposed upon other income trusts. “Our government is committed to providing clarity in the application of the REIT rules,” said Finance Minister Jim Flaherty. “These changes take into account constructive comments […]
By Steven Lamb |December 17, 2010
1 min read
Philanthropic activity in Canada is in top gear. As the season for charitable giving draws to an end, with December 31 being the deadline for a 2010 tax receipt, Canadians are looking for ways to keep the tax man's hand out of their pocket. Charitable giving as a tax-reduction strategy is one of them.
By Vikram Barhat |December 15, 2010
Grandma still has time to get run over by a reindeer. Could it be? An early Christmas present from President Obama and the U.S. Congress? Well, if the Democrats in the U.S. House get their way over the next few days, that present will be a little smaller. So what am I talking about? As […]
By Terry F. Ritchie |December 13, 2010
Despite the widespread adoption of the RRSP, one third of Canadians say they will not make a contribution to their plan this year, according to a survey commissioned by BMO Financial Group.
By Steven Lamb |December 10, 2010
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