Tax Blog Posts

Taxable TFSAs

Almost since Tax-Free Savings Accounts (TFSAs) were first introduced in 2009, the Canada Revenue Agency (CRA) has been intent on clamping down on what it views as inappropriate activities undertaken within TFSAs. One area in particular has raised the ire…

New Tax Reporting Rules for Principal Residence Sales

The battle against perceived rampant real estate speculation continued when, on October 3, 2016, Canadian Finance Minister Bill Morneau released income tax amendments designed to “close loopholes” in the Income Tax Act related to the housing market. A relatively innocuous…

Canadian Tax Alerts

Significant Tax-Treaty Changes on the Horizon

On November 24, 2016, the Multilateral Convention to Implement Tax-Treaty Related Measures to Prevent Base Erosion and Profit Sharing was released by the OECD.  The multilateral instrument is aimed at implementing standards to counter perceived treaty abuse and to…

House of Commons Approves Carbon Tax

On October 5, 2016, the House of Commons approved Prime Minister Justin Trudeau’s October 3, 2016 motion to impose a carbon tax starting in 2018.  Pursuant to Trudeau’s plan, the federal government will set a minimum price of $10…

City of Vancouver Vacancy Tax to Start in 2017

The City of Vancouver will levy a tax on vacant residential properties starting in 2017 in an effort to increase housing stock in Vancouver.  It is proposed that the tax be administered through an annual declaration by property owners regarding…

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