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.
Please visit our archive page for content from 2020. There are no posts on this page older than 2020.
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February 3, 2023
The CRA has recently published the Underused Housing Tax Return and Election Form (UHT-2900) on its website.
January 27, 2023
As you may have read in our latest blog, the new Underused Housing Tax (UHT) is aimed primarily at non-residents of Canada, but others may also be caught. It’s important to understand the rules to ensure you, or your clients, are not subject to the tax, and/or required to file the UHT return.
January 25, 2023
As many firms and practitioners prepare for the upcoming 2023 tax filing busy season, we wanted to remind you of the new security requirements that CRA implemented to Represent a Client (RAC) last fall.
Latest tax blog: Underused Housing Tax (UHT)
January 23, 2023
The federal government’s new Underused Housing Tax (UHT) will primarily impact non-residents of Canada but may also apply to Canadian owners in some situations. For example, where a residential property is held in trust for Canadian resident beneficiaries, there may be a requirement to file a return even though no non-residents have an interest in the property and no tax is payable after applying an exemption. The penalty for not filing a return can be significant. Read our latest blog post to know more about the requirements and exemptions applicable to the UHT.
CRA responds to questions from CPAs across Canada
January 12, 2023
During 2022, CPAs across the country were canvassed to pose the top questions they have for the CRA. View the CRA’s responses to these questions.
January 4, 2023
Finance Canada and the Canada Revenue Agency (CRA) announced several updates as 2022 came to a close.
December 12, 2022
As we wrap up 2022, here is a summary of some significant tax developments that took place in the second half of the year.
Watch Now: CRA Update on Scientific Research and Experimental Development (SR&ED) Program
December 6, 2022
CPA Canada co-hosted a webinar with the CRA to review updates to the SR&ED program. In this session, the CRA provided an overview of the program and highlighted upcoming initiatives that will transform it. Watch this video to learn more about the most common trends seen on the field and hear the answers to some of the top questions from CPA Canada's SR&ED Committee.
Tax-Free First Home Savings Account
November 23, 2022
The federal government has released new details about the Tax-Free First Home Savings Account, a new registered account to help individuals save for their first home. Read our latest blog post to find out who qualifies and other key features of these plans.
November 16, 2022
It has come to our attention that some businesses have received notices stating they don’t qualify for the CEBA loan.