News

British Columbia Budget 2018 included the announcement of a new payroll tax called the Employer Health Tax (the “EHT”). While legislation and full details on the EHT are expected to be released in the fall of 2018, the BC Government has released preliminary details about the EHT. The EHT is expected to come into effect […]

On February 27th Finance Minister Bill Morneau presented the 2018 Federal Budget titled “Equality and Growth”. The budget includes a focus on growing government revenues by increasing economic participation among women, visible minority Canadians and persons with disabilities, as well as substantial long-term investments in science and technology. The government suggests that increasing equality for […]

As you may be aware, the US Government passed significant tax reforms in late 2017, and one of the major reforms was the wholesale conversion of its system of taxing corporate business income from a worldwide taxation system to a territorial taxation system. Under the old worldwide taxation system, business profits earned in a foreign […]

As we approach the end of the year, it is time to consider some tax planning opportunities that may be available to you for 2017. The planning points outlined below are not intended to serve as specific advice; you should always consult your D&H Group LLP advisor before implementing any of the suggestions contained in […]

On July 18, 2017 the Government introduced proposed amendments to the Income Tax Act (Canada) (the “Act”) that will have a profound impact upon the taxation of private corporations and their shareholders. We previously summarized these proposals in our Proposed Changes to the Taxation of Private Corporations and Shareholders newsletter of September 7, 2017. The […]

The Small Business Deduction (“SBD”) provides for a reduction in the rate of corporate income taxes payable on the first $500,000 of active business income earned by Canadian-controlled private corporations. The 2016 Federal Budget introduced changes to the Income Tax Act (Canada) intended to prevent taxpayers from multiplying access to the SBD. The changes are […]

On July 18, 2017, the Government introduced proposed amendments to the Income Tax Act (Canada) (the “Act”) that could have profound implications for the taxation of private corporations and their shareholders. The amendments are intended to address certain tax planning strategies involving the use of private corporations that the Government has portrayed as giving “unintended […]

Below is a brief summary of recently issued standards that will become effective in 2018 and 2019. The adoption of these recently issued standards will involve some complexities and you may wish to contact your D&H Group LLP advisor to provide guidance and clarification. These recently issued standards, IFRS 9 – Financial Instruments, IFRS 15 […]

As you may be aware, the Trudeau Liberals campaigned with a promise to “cancel income splitting and other tax breaks and benefits for the wealthy.” The Government reaffirmed its commitment to this policy in the most recent Federal Budget, released March 22, 2017, stating it was reviewing certain tax planning strategies using private corporations. The […]

Recently enacted changes to Canada’s Income Tax Act (the “Act”) have important implications to recipients of intercorporate dividends. The new provisions will increase the risk that all or part of what would otherwise be a tax-free intercorporate dividend will be converted into a taxable capital gain to the corporation receiving the dividend. Dividends paid to […]

Business Report Year End Tax Planning November 2016 As we approach the end of the year, it is time to consider some tax planning opportunities that may be available to you for 2016. We have provided you with a few items that may be applicable in your certain circumstance. Keep in mind that the planning […]

Theme: Economic growth, Job creation, Strong middle class When the new government said last year that it would return Canada to deficits, few expected the numbers to jump to nearly $30 billion this year and next and add $100 billion in debt over the next five years. But lower-than-expected revenues have forced the government’s hand, […]