by cpiwebdesign | Jul 4, 2017 | Uncategorized
Ontario introduced the Phase-Out of Recaptured ITC rules (RITC) for large businesses effective July 1, 2010. These rules have had the effect of restricting the input tax credits (ITCs) for large businesses related to the provincial component of the Ontario HST for...
by cpiwebdesign | May 31, 2017 | Uncategorized
U.S. tax rules contain a mathematical formula to determine tax residency. This formula involves counting the number of days that you are physically present in the U.S. over a three-year period. This residency formula is called the Substantial Presence Test (SPT)....
by cpiwebdesign | Apr 21, 2017 | Uncategorized
As expected, Ontario has announced that effective April, 21, 2017, a new tax of 15% will be payable on the purchase or acquisition of residential property located in specified parts of Ontario by non-resident individuals, foreign corporations and certain taxable...
by cpiwebdesign | Mar 23, 2017 | Uncategorized
The Federal Government’s 2017-18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution. Budget 2017 outlines only $200 million in net new...
by cpiwebdesign | Feb 22, 2017 | Uncategorized
The 2016 U.S. tax return for an individual; Form 1040 is due on April 18th, 2017. However, if a U.S. tax person is out of the U.S. on April 18th, the filing due date is automatically extended to June 15th. The extension allowed is for the filing of the tax return but...
by cpiwebdesign | Feb 16, 2017 | Uncategorized
The May 1, 2017 deadline to file your 2016 personal income tax return is quickly approaching. As a result of changes in tax laws and the ever-increasing complexity in preparing personal tax returns, please gather your required tax information (as outlined in the...
