Canadian tax news
Your source for the latest Canadian tax news and updates on changing tax laws. Working collaboratively with the Canada Revenue Agency (CRA) we aim to bring clarity on pressing tax questions and tax updates.
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2023 Federal Budget
March 29, 2023
Watch now: 2023 Federal Budget Tax Highlights webinar
Deputy Prime Minister and Minister of Finance Chrystia Freeland tabled this year’s federal budget on March 28, 2023. Watch CPA Canada’s webinar in English and French to better understand the most important tax measures contained in this year’s budget. In addition, don’t forget to download the Tax Highlights document.
CRA publishes Q&As on the Underused Housing Tax
March 28, 2023
The CRA has recently published a number of questions and answers on the Underused Housing Tax (UHT).
We understand from the CRA that more UHT Q&As will be published soon. We will you keep you updated on this.
CRA announces administrative extension for Underused Housing Tax
March 28, 2023
To provide more time for taxpayers, the Canada Revenue Agency (CRA) has announced that penalties and interest will be waived under the Underused Housing Tax Act for the 2022 calendar year, provided the return is filed and any UHT due is paid by October 31, 2023. For further details, please see CRA’s news release.
March 9, 2023
As discussed in our recent blog, the UHT is intended to apply to underused residential property in Canada owned directly or indirectly and wholly or partly by non-resident, non-Canadians.
Latest tax blog: CRA e-services – Key updates for tax practitioners
March 8, 2023
As the CRA continues to enhance its online processes for interacting with taxpayers and practitioners, we’ve collated some of the recent key changes introduced. Read our latest blog to know more
March 7, 2023
Sole proprietors who may want to use the same representative for both their business and personal taxes may now be eligible to do so without them having to register for the Canada Revenue Agency’s My Business Account and go through the Confirm my Representative process.
More updates to our Underused Housing Tax (UHT) blog
February 15, 2023
As noted in our February 8, 2023, news item, the CRA recently published additional UHT Notices (UHTN6 through UHTN11). As such, we’ve updated our UHT blog to provide further information on determining the primary place of residence, as well as continuous occupancy for UHT purposes. We’ve also added a new section that highlights some considerations for partnerships versus co-ownerships.
CRA updates Form T1134 Q&As
February 14, 2023
As noted in our October 26, 2022, news item, the CRA had provided us with their responses to questions we posed to them on the new Form T1134. The CRA has recently updated its Questions and answers about Form T1134 webpage to include these questions and responses.
Latest tax blog: 2023 personal tax season – Key changes to consider
February 13, 2023
As T1 season approaches, it is important to take note of new tax measures and other changes for 2022 personal income tax returns so you can better serve your clients. Read our latest blog to learn more about key considerations for this year’s filing season.
February 8, 2023
Registration for an Underused Housing Tax (UHT) program account (RU) is now open. For owners who will be required to file a UHT return for 2022 and will need to register for an RU program account, we recommend you do this soon.