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Federal Budget Commentary 2019
Finance Minister Bill Morneau's March 19, 2019 Federal Budget message was that, thanks to the Federal Government's investments over the past three years, things are going well, especially for the middle class: more Canadians have full-time jobs, unemployment is at...
Are you ready for Tax Time?
The April 30, 2019 deadline to file your 2018 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...
Filing Your 2018 US Tax Returns
The 2018 U.S. tax return for an individual; Form 1040 is due on April 15th, 2019. However, if a U.S. tax person is out of the U.S. on April 15th, the filing due date is automatically extended to June 17th. The extension allowed is for the filing of the tax return but...
2018 T4 Information
In order to facilitate the accurate preparation of your 2018 T4 information returns, we are pleased to enclose a summary of significant taxable benefits that may apply to your employees. Click Here to view the Summary It should be noted that, as mentioned last year,...
Tax Planning Update – RRSP/TFSA
Tax Planning Update - RRSP/TFSA In order to assist you with your 2018 and 2019 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows: ...
U.S. Closer Connection – Form 8840
Tax Planning Update - U.S. Closer Connection, Form 8840 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...
2018 Ontario Budget Commentary
On March 28, 2018, Ontario's Finance Minister Charles Sousa delivered the 2018 budget. This budget anticipates a surplus of $500 million in 2017-18 and deficits of $6.7 billion for 2018-19 and $6.6 billion for 2019-20. The budget also includes changes to Ontario's...
Filing Your 2017 U.S. Tax Returns
The 2017 U.S. tax return for an individual; Form 1040 is due on April 17th, 2018. 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...
Are you ready for T1 Tax Season?
The April 30, 2018 deadline to file your 2017 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...
U.S. House and Senate Conference Committee Releases Final Tax Bill
On December 15, 2017, the final version of the U.S. "Tax Cuts and Jobs Act" was released, which reflected a compromise between the United States House and Senate versions of the tax reform legislation. We are pleased to provide you this comprehensive update prepared...
Income Splitting Using Prescribed Interest Rate Loans
Prescribed interest rate loans allow higher income earners to split income with lower income earning family members. The steps involve the higher income earner loaning money directly or via a trust to the lower income earner. The lower income earner then invests the...
RRSP & TFSA: Tax Planning Update
Tax Planning Update - RRSP/TFSA In order to assist you with your 2017 and 2018 tax planning, we are pleased to provide you with the following information in connection with Registered Retirement Savings Plans (RRSP) and Tax-Free Savings Accounts (TFSA) as follows:...
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Let's Talk - The Lipton Newsletter
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