Tax

Tax News

Up to Speed – 2010 Tax Changes

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

Tax News

Charitable giving: A win-win-win proposition

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

3 min read

Tax News

Tax tips for the business owner

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

4 min read

Tax News

Minimizing taxes on executive incomes

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.

By Prashant Patel |December 17, 2010

3 min read

Ottawa clarifies REIT rules

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

Philanthropy rounds out planning

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

3 min read

U.S. estate uncertainty still exists

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 […]

3 min read

U.S. to reinstate estate tax

Yesterday, President Obama and the Republican Congressional leadership tentatively agreed to work on draft legislation that would reinstate U.S. estate tax January 1, 2011, with an “exemption” of U.S. $5 million for U.S. citizens and U.S. domiciliaries and a maximum estate tax rate of 35%.

1 min read

The new CPP changes

January 1, 2011 will see the first of a number of changes impacting how clients (and advisors) incorporate Canada Pension Plan (“CPP”) retirement benefits into their financial plans. These changes will become effective between 2011 and 2016. Clients who are thinking about retirement need to be informed of the new rules. The benefits will differ depending on client age and earnings history, as well as their ability or desire to work past the age of 60.

By Carol Bezaire |December 7, 2010

4 min read