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Federal Budget 2018 – Reassessment Periods

Fuller Landau Team • February 28, 2018 The February 27, 2018 Federal Budget proposes several changes to the reassessment periods, in specific situations, as follows: Reassessment Periods – Foreign Affiliates When a taxpayer files an income tax return for a taxation year, CRA is required to perform an initial assessment of tax payable. For most taxpayers with foreign affiliates, CRA ge ... Read More

Federal Budget 2018 – Reporting Requirements for Trusts

Fuller Landau Team • February 28, 2018 As laid out in the 2018 Federal Budget, certain trusts will be subject to new reporting requirements such as disclosing the identity of all trustees, beneficiaries, and settlors of the trust, as well as the identity of each person who has the ability of controlling how the trustees are to distribute the trust income and/or capital amongst ... Read More

2018 Federal Budget Overview – “Equality + Growth: A Strong Middle Class

Fuller Landau Team • February 28, 2018 On February 27, 2018, the Honourable Bill Morneau, Minister of Finance, released the 2018 Federal Budget, “Equality + Growth: A Strong Middle Class“. The highly anticipated Budget forecasts a $19.4 billion deficit for fiscal 2017-18, an $18.1 billion deficit for 2018-19, and a $17.5 billion deficit for fiscal 2019-20. As expected, ther ... Read More

Corporate Tax Advisors Answer: Will Canada Follow US Lead in Cutting Corporate Taxes?

Jeffrey Brown • February 23, 2018 Late in December 2017, US President Donald Trump signed into law a significant tax reform package that included a dramatic cut to the corporation tax rate from over 35% to 21%. All eyes are now on Ottawa to see how or if Canada will (or should) follow suit. Canada’s economy is invariably tied to the ... Read More

Non-Resident Speculation Tax: What Does it Mean For You?

Fuller Landau Team • February 06, 2018 On April 21, 2017, the Ontario government introduced a new Foreign Home Buyer Tax – otherwise known as the Non-Resident Speculation Tax (“NRST”). This tax measure is intended to limit speculative real estate investment from foreign buyers and is currently restricted to real estate within the Greater Golden Horseshoe region. Why is the gov ... Read More