Tax News

Quebec academic slams tax shelters

Noted Quebec economics professor Léo-Paul Lauzon says the government should abolish the tax shelters for the good of the collective interest of Canada. Chair of Socio-Economics at the University of Quebec at Montreal, Lauzon, well-known for his sometimes scathing pronouncements, has released the findings of a study on the merits of RRSPs TFSA and other […]

By Anaïs Chabot |April 28, 2011

3 min read

Think tank conjures massive tax burden

The average Canadian family pays more in taxes than it does on the necessities of life, according to a study released by the Fraser Institute. Of course, this depends on what you consider a tax—and how you define “necessity.” According to the study, the average family had an income of $72,393 in 2010, and spent […]

By Staff |April 26, 2011

2 min read

Cracks appear in tax haven’s secrecy

One of the most secretive financial services markets in the world has joined the International Organization of Securities Commissions (IOSCO), after the president of the international body approved the Financial Market Authority (FMA) of Liechtenstein for membership. To gain membership, the FMA had to prove it was working toward becoming a signatory to Appendix A […]

By Staff |April 20, 2011

1 min read

Canadians take DIY approach to taxes

An overwhelming majority of Canadians are doing their own taxes and are confident they are doing a good job, according to a BMO Harris Private Banking survey. The study noted that despite the anxiety that often accompanies tax season, more than half of taxpaying Canadians (59%) have decided not to engage a professional to assist […]

By Vikram Barhat |April 12, 2011

2 min read