Tax News

Luxury vehicle tax to bring in less than $800M over five years: PBO

Parliamentary Budget Officer estimates the tax will reduce vehicle sales by a much greater amount, however

By Melissa Shin |May 27, 2022

2 min read

CRA clarifies tax treatment of settlement payments related to RRSPs, other plans

In an income tax folio, the Canada Revenue Agency clarified its position on settlement amounts and registered plans

By Rudy Mezzetta |May 24, 2022

3 min read

Ontario, Quebec yet to match feds’ proposed small business tax break

The federal budget proposed increasing the level of taxable capital at which a business can still access the small business rate

By Rudy Mezzetta |May 13, 2022

3 min read

CRA can use ‘arbitrary assessments’ to fill a filing void

A Tax Court case offers a warning about missing corporate returns

By Jamie Golombek |May 9, 2022

4 min read