The limit on capital cost changes every year too. Here are the latest CRA stipulations: If your vehicle belongs to Class 10.1, the capital cost allowance limit is increased from $36,000 to $37,000. This limit applies to new and used vehicles purchased on or after January 1, 2024. Th...
For 2024, the Department of Finance Canada made some notable changes to the automobile income tax deduction limits and mileage rates, with the initial mileage rate increasing to 70 cents per kilometre for the first 5,000 kilometers driven. Here’s a complete look at how these changes will imp...
Significant changes have been proposed which could have a significant effect on taxpayers. Read more Bulletin August 12, 2024 Is it easier for the IRS to collect Canadian tax debt? An August 2024 U.S. Tax Court decision requires the IRS to collect a 30-year-old Canadian tax debt...
Staying informed about tax updates is crucial for individuals and businesses to effectively manage their finances and comply with tax laws. Tax updates can encompass various changes, such as alterations to tax rates, adminstration procedures as well as reporting requirement. For this blog, I will ...
CRA Implements New Measures in Effort to Help Streamline Tax FilingTax time: New CRA measures ahead of deadline--OTTAWA - Tax season is upon us once again and the...Wong, Craig
Non-GAAP net income and non-GAAP net income per share also exclude non-cash amounts relating to valuation changes in contingent consideration, acquisition-related costs, foreign currency (gains) losses, net and related tax effects. This release also presents certain current fiscal peri...
Changes to the ITA now permit registered charities to make disbursements to both qualified donees and “grantee organizations,” which are effectively non-qualified donees, through the new “qualifying disbursement” rules. Draft CRA Guidance: Registered charities making grants to non-qualified ...
“The complexity of changes brought about by a modernized CRA present banks with significant interpretive and operational challenges they will have to navigate,” saidVikram Savkar, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “Special Purpose Credit Prog...
Measure D: Changes to Local Ethics Laws YES! ✅ Tightens local ethics laws to require greater reporting of gifts received by politicians or on their behalf. Clarifies when a gift is a bribe. Makes rules more uniform. Requires ethics training. Requires disclosure of relationships to avoid ethica...
the approval of new indications or other material changes if the renegotiation is expected to result in a significant change in the maximum fair price. Once a manufacturer has reached a negotiated maximum fair price, the Program will ensure that drugs for which prices have ...