The 2022 Federal Budget included several proposals that would significantly change the taxation environment when buying and selling a home. Broadly, the government proposed various incentives for first-time buyers and extended family units in addition to bright-line tests/restrictions for those purchasing homes for profit (e.g. home flippers). Taxpayers should consider how the changes

As accounting and tax professionals helping clients with their challenges, we don’t often think about our own situation all that much.  It’s the old “the cobbler’s children go shoeless” situation.  And I find myself in that position now as I go into retirement. If you don’t have a clear idea

Under normal circumstances, CRA will be begin charging compound daily interest starting May 1st, 2021 on unpaid taxes owing for the 2020 tax year. However, due to COVID-19, CRA introduced temporary interest relief if all eligibility criteria listed below are met.  If eligible, you will not have to pay interest