Interest, dividends or original issue discounts (1099-INT/1099-DIV/1099-OID) that don’t require filing a Schedule B IRS standard deduction Earned Income Tax Credit (EITC) Child Tax Credit (CTC) Student loan interest deduction Taxable qualified retirement plan distributions Credits, deductions an...
Although Budget 2024 did not increase federal corporate or personal tax rates under theIncome Tax Act(Canada) (Tax Act), significant tax measures were announced in Budget 2024 aimed at addressing the federal government’s (Government’s) theme of tax fairness, notably: increasing the capital gains...
Though the recent budget announcement didn't include additional support for international students, you should be aware that EduCanada does offerscholarships to students from abroad!These are largely master's-level and above, and are usually restricted to students from particula...
TurboTax Online 2024-2025 TurboTax online guarantees IRS Forms Self-employed tax center Tax Refund Advance Crypto Taxes Credit Karma Money TurboTax Blog TurboTax Canada Products for previous tax years Free TurboTax Mobile App Offer - Free Tax Filing on Android or iOS ...
Budget 2024 proposes to implement the Crypto-Asset Reporting Framework (CARF) in Canada. The measure would impose a new annual reporting requirement in the Income Tax Act on entities and individuals (referred to as crypto-asset service providers) that are resident in Canada, or that carry on bu...
and $4.8 billion for the new Canada Disability Benefit. Meanwhile, it projectsrevenuesto increase by $14.4 billion for 2024-25 and $43.4 billion from 2025-26 through 2028-29, due in part to increased growth projections in the short term and in part to tax measures. Over the next five yea...
Under current rules in the ITA, income derived from international shipping is generally not subject to Canadian corporate income tax, in part due to an exemption for shipping companies managed from Canada and incorporated in a foreign jurisdiction with a reciprocal exemption, subject to other ...
changes to the tax treatment of charitable donations when calculating the alternative minimum tax, the expansion of the auditing powers of the Canada Revenue Agency (the “CRA”), and various other changes relating toIncome Tax Act(“ITA”) compliance and modernizing the services provi...
PwC Canada's Federal budget analysis Learn more On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the federal government’s budget. Read more about the tax initiatives proposed in the budget in our in-depth Tax Insights. Key highlights: Increase...
On April 16, 2024, the Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the federal government’s budget. Read more about the tax initiatives proposed in the budget in our in-depth Tax Insights.