Tax News

U.S. Supreme Court upholds a tax on foreign income U.S. Supreme Court upholds a tax on foreign income

Tax News

U.S. Supreme Court upholds a tax on foreign income

Justices left in place provision of 2017 tax law expected to generate $340 billion, mainly from foreign subsidiaries of domestic corporations

By Mark Sherman, The Associated Press |June 20, 2024

3 min read

Some FHSA holders made qualifying withdrawals in account’s first year Some FHSA holders made qualifying withdrawals in account’s first year

Tax News

Some FHSA holders made qualifying withdrawals in account’s first year

Total account assets hit $2.8 billion in 2023, based on CRA data

By Rudy Mezzetta |June 13, 2024

3 min read

Extra $9B in benefits could be paid through automatic tax filing: PBO Extra $9B in benefits could be paid through automatic tax filing: PBO

Tax News

Extra $9B in benefits could be paid through automatic tax filing: PBO

The estimate from the Parliamentary Budget Officer spans five fiscal years

By Jonathan Got |June 13, 2024

2 min read

Feds offer few carveouts to capital gains inclusion rate hike Feds offer few carveouts to capital gains inclusion rate hike

Tax News

Feds offer few carveouts to capital gains inclusion rate hike

June 25 is indeed the date that the hike will take place

By Rudy Mezzetta |June 10, 2024

5 min read