Tax Alert Archives April 2015

Tax Filing Deadline Extended to May 5, 2015

The filing deadline for 2014 tax returns has been extended from April 30, 2015 to May 5, 2015. The CRA released a communication in error on April 24, 2015 referring to the May 5 deadline. To avoid any confusion, the…

Prepared by: Shawn Tryon

Shawn is an associate practicing in the firm’s Vancouver office. Shawn practices in many areas of tax law including estate planning, corporate reorganizations, business structuring, tax planning for individuals and tax litigation matters. Prior to joining Thorsteinssons, Shawn gained extensive… more »

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Ontario Eliminates Resource Allowance

In today’s provincial budget Ontario announced that it has eliminated the Ontario Resource Tax Credit and the Additional Tax on Crown Royalties. The Ontario Resource Tax Credit was generally viewed as beneficial for mining companies because it typically provided a

Prepared by: Mark Barbour

Mark Barbour is a partner practicing in the firm’s Toronto office. Mark’s practice focuses on domestic and international tax planning, with an emphasis on federal and provincial mining taxation. He also represents taxpayers in disputes with taxation authorities, and has… more »

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TFSA Annual Contribution Limit Increased to $10,000

Minister of Finance Joe Oliver announced as part of the 2015 federal budget released on April 21, 2015 that the annual contribution limit for Tax-Free Savings Accounts will be increased from $5,500 to $10,000 effective for contributions made in the

Prepared by: Shawn Tryon

Shawn is an associate practicing in the firm’s Vancouver office. Shawn practices in many areas of tax law including estate planning, corporate reorganizations, business structuring, tax planning for individuals and tax litigation matters. Prior to joining Thorsteinssons, Shawn gained extensive… more »

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