As parents age, they may think about transferring assets and family heirlooms to their children. Often, one such heirloom is the family cottage. Summer vacations at the family cottage are among the most memorable and cherished of times, holding deep sentimental value for parents.
Catégorie Survol: Third Quarter 2022
Underused housing tax act
On June 9, 2022 Bill C-8 received Royal Assent making the Underused Housing Tax Act (“UHTA”) law. This new legislation requires certain owners of residential property in Canada to file returns annually commencing in 2022, with the first filing deadline coming this April 30, 2023. The UHTA implements an annual...
Rules for Disclosure of Determined Transactions
Since 2021, taxpayers must disclose to Revenu Québec the specified transactions they have carried out. A specified transaction may be an arrangement, an event or a series of transactions where the form and substance of the facts concerning the taxpayer are similar to the transactions determined by the Government of...
Sailing into the Sunset: succession planning for a successful retirement
As a small business owner, you spend your working life building a legacy and pouring countless hard-working hours into your business. Understandably, as you approach retirement age, you might be wondering “now how do I retire?”