On August 4, 2023, the Department of Finance released draft legislative proposals relating to certain measures that were announced as part of the 2023 federal budget (“Budget 2023”) as well as other previously-announced measures. Included is draft legislation on…
Canada’s new tax on luxury cars, aircraft, and boats – levied under the Select Luxury Items Tax Act (the “SLITA”) – came into effect on September 1, 2022. The luxury tax was first announced in Budget 2021 as a…
The Federal Government has announced that the Fall Economic Statement 2022 will be presented in the House of Commons on November 3, 2022 at approximately 4:00 p.m. ET.
The Federal Government’s 2022 Budget stated that the Fall Economic…
Effective October 25, 2022, the government of Ontario has increased the Non-Resident Speculation Tax (“NRST”) rate to 25 percent.
The increase follows changes made to the tax earlier in 2022. Introduced in April 2017, the NRST initially applied a…
Under the Excise Tax Act (the “Act”), the Minister of National Revenue (“Minister”) and her delegates are granted discretion to make administrative decisions affecting taxpayers on a case-by-case basis, including powers to extend deadlines or waive compliance with certain requirements…