Canada imposes corporate and personal income tax on its residents (including Canadian subsidiaries of foreign entities) in respect of income and capital gains earned anywhere in the world. Federal income tax is imposed under the Income Tax Act (ITA). Non-residents who carry on business in Canada...
Howland Tax Services International provides cross-border tax preparation services for individuals and small businesses in Canada and the United States
Undergoing an income tax audit? Call us. We are a team of experienced tax audit lawyers in Toronto, and we are ready to handle your case!
June 15, 2023:This is the last day to file your 2022 tax return if you or your spouse or common-law partner are self-employed. Prepare for tax season 1 Register for a CRA account A CRA account gives you access to important information you may need for this year's taxes. ...
The Minister of Finance (Canada), the Honourable Chrystia Freeland, presented the Government of Canada’s (the “Federal Government”) 2022 Federal Budget (“Budget 2022”) on April 7, 2022 (“Budget Day”). Budget 2022 contains significant proposals to amend the Income Tax Act (Canada) (the...
Add'l income/expense items -- -- -- -- Earnings Before Interest and Tax $35,585,000 $31,238,000 $20,096,000 $18,818,000 Interest Expense $21,337,000 $18,140,000 $5,354,000 $2,174,000 Earnings Before Tax $14,249,000 $13,098,000 $14,742,000 $16,644,000 Income Tax $...
Included with this edition: interactive online features and purpose notes for selected provisions. Purchase of a print book includes access to an online updated and searchable copy of the federal Income Tax Act as well as the pdf eBook. Consolidated to March 1, 2024, this edition contains amend...
In income tax: Investment incentives education adult education In adult education: Adult-education agencies and institutions elementary education In elementary education history In education: French Québec In education: Canada In education: Canada medical degree status In medical education: Requirements for...
2022, a “substantive CCPC” includes a corporation that is controlled, directly or indirectly in any matter whatever by a resident of Canada. If Bill C-59 is passed, substantive CCPCs will be subject to the same refundable tax on investment income as CCPCs. As a result ta...
On August 9, 2022, the Government of Canada proposed through draft legislation a Canada Recovery Dividend (CRD) and a permanent increase in the corporate income tax rate. The CRD is a one-time 15% tax for 2022 determined based on the average taxable income above $1 billion for taxation ...