Canada’s financial landscape is constantly evolving, and as tax professionals, it’s our duty to stay ahead of these changes to provide the best advice to our clients. One of the most significant changes to surface recently pertains to the Alternative Minimum Tax (AMT). With the 2023 budget proposing substantial adjustments to the AMT regime, it’s […]

Greetings, readers! As part of GBA-LLP’s commitment to providing crucial financial insights to businesses, we bring you an updated guide to the Canada Emergency Business Account (CEBA). With the loan repayment deadline looming, many businesses are feeling the pressure. The primary question on their minds is: what happens to the loan balance if the non-forgivable […]

Introduction: Welcome to another edition of the GBA-LLP.ca Education Series for Special Tax Topics. In today’s article, we delve into the important role of an executor in Canadian estates. Executors play a crucial role in managing and distributing assets after someone passes away. While there is much we know about this responsibility, there are also […]

Welcome back to the GBA-LLP.ca education series, ‘Special Tax Topics.’ The journey towards homeownership is laden with challenges, especially for first-time buyers. The Canadian government’s introduction of the First Home Savings Account (FHSA) seeks to ease this path. Today, we’ll uncover the intricacies of the FHSA, highlighting its benefits and some of its major rules. […]

Welcome to another article in our GBA-LLP.ca education series, ‘Special Tax Topics.’ Today, we will delve into a topic that has raised many eyebrows, yet it remains shrouded in an aura of complexity – the GST/HST New Housing Rebate. The Basics To start, let’s talk about what we know. The Goods and Services Tax (GST) […]

Hello again to our valued readers. We are back with another installment in our GBA-LLP.ca education series, ‘Special Tax Topics.’ This time, we’ll explore a subject that’s becoming increasingly important in today’s changing real estate landscape: the GST/HST implications on short-term rental properties. What We Know: Short-Term Rentals and GST/HST Firstly, let’s clarify what we […]