The federal government recently confirmed that rebates issued under the Canada Carbon Rebate for Small Businesses will not be taxable for the years that the fuel charge was in effect (the levy was cancelled on April 1st, 2025). That includes payments received by corporations for the 2019-20 to 2023-24 fuel charge years, along with the […]
Individual Canadian investors and Canadian businesses with U.S. assets are breathing at least a tentative sigh of relief today. At the Trump administration’s request, U.S. Senators appear to have agreed to remove the contentious Section 899 from the One Big, Beautiful Bill Act, the tax and spending legislation currently before Congress. While this is a […]
The recent federal election campaign featured the usual policy one-upmanship among party leaders who made competing pledges covering everything from social program spending to tax cuts. One of Prime Minister Mark Carney’s signature platform planks was a middle class tax cut. Last week his Liberal government tabled a Notice of Ways and Means motion in Parliament […]
The Canada Revenue Agency has announced the prescribed rate for the third quarter of 2025, with welcome news for affected taxpayers. The rate on loans to family members—which is in effect from July 1st, 2025 to September 30th, 2025—will decrease to 3 per cent from 4 per cent, its lowest level since the fourth quarter […]
Of all the economic disruption caused by the Trump administration in recent months—roiling markets and global investment patterns with tariff threats, upending longstanding agreements with trade partners and generating widespread economic uncertainty—his One Big, Beautiful Bill Act could have the most direct non-tariff impact on Canadian business owners and investors. Indeed, Section 899 of the […]
Ontario Premier Doug Ford has been the first minister most visibly and vocally opposed to U.S. President Donald Trump’s tariff program. Ford has continually done the rounds on U.S. cable TV, making the case for continued economic cooperation between our two countries and warning of the cross-border economic implications of a trade war. He promised […]
With U.S. tariffs in effect across key industries such as steel and aluminum, and more about to apply across Canada’s auto sector, the Ontario government this week announced approximately $11 billion in new tax relief measures for businesses. Businesses now have the option to defer payments between April 1st, 2025 and October 1st, 2025 on […]
The Canada Revenue Agency recently announced the prescribed rate for the second quarter of 2025—the period from April 1st, 2025 to June 30, 2025. The rate, which is based on the three-month average of Government of Canada Treasury bill yields, will remain unchanged at 4 per cent for the second straight quarter. As outlined in […]
The continuing saga over on-again, off-again Beneficial Ownership Information (BOI) reporting rules in the U.S. seems to be settled, at least in the near term. The U.S. Financial Crimes Enforcement Network (FinCEN) has issued an interim final ruling removing the “… requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to […]
With U.S. tariffs now in effect across multiple sectors including the auto industry, and the reality of the new geopolitical trade landscape becoming clearer—yes, U.S. President Donald Trump and his administration are serious about imposing sweeping tariffs against traditional allies and trading partners—Ottawa has begun rolling out measures designed to help businesses weather the trade […]
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