Since 2013, the top tax rate on gratuitous transfers is 40%.The exemption amount is a lifetime unified tax credit that can be used to offset the tax on any gratuitous transfer. Reducing the gift tax with the unified credit reduces the credit remaining for additional gifts, or for the ...
though cannabis companies may deduct cost of goods sold to compute federal taxable income. So, while the effective federal tax rate on corporations is 21% or less, the effective federal tax rate on cannabis companies can be 70% or 80% or more because...
Whether you hunt for sport, carry a concealed weapon or just own personal firearms, you’ll pay a federal tax on the sales price of the gun and any ammunition. For the purchase of pistols and revolvers, the federal rate is 10 percent, and for all other firearms and ammunition, the rate...
Budget 2023 announced a refundable Clean Electricity investment tax credit equal to 15 per cent of the capital cost of eligible property, with some additional changes announced in the 2023 Fall Economic Statement. Budget 2024 provides the design and implementation details of the tax credit. Polymetall...
Over the last few years, there has been speculation about whether the Government would increase the capital gains inclusion rate in order to manage the huge deficit coming out of the pandemic. But after the comprehensive draft legislation that came out in 2023, including the new general anti-avo...
In the midst of the fight against inflation, turmoil struck the banking sector in March 2023, with the collapse of Silicon Valley Bank and Signature Bank. The aggressive interest rate hikes may have exacerbated issues at these financial institutions, contributing to declines in the value of fixed...
relief for small businesses, low rate of unemployment and a strong position of defence. PointsBet: Coalition ($4); Labor ($1.25); Other ($501). Any other party winning is priced at $101. To be declared a winner, a candidate needs to win more than half of the preference votes. On ...
Deluxe to maximize tax deductions TurboTax self-employed & investor taxes Free military tax filing discount TurboTax Live tax expert products TurboTax Live Premium TurboTax Live Full Service Pricing TurboTax Live Full Service Business Taxes TurboTax Live Assisted Business Taxes ...
Allow for restaurant meals to be a deductible business expense, which will increase patronage and traffic for other businesses in downtown cores and community hubs across Canada. Maintain the cap of the Alcohol Excise Tax escalator at two per cent to help reduce the alarming rate at which the ...
The federal government levies an excise tax on various motor fuels. Under current law, the tax rate is 18.3 cents per gallon on gasoline and 24.3 cents per gallon on diesel fuel. A 0.1 cents per gallon tax is also levied on top of these ... S Lowry - Library of Congress. Congressional...