Automobile deduction limits for businesses have been raised for 2022 in response to inflation, in some cases for the first time in almost 20 years. As of Jan. 1, 2022, the deduction limits for capital cost allowances, leasing and mileage reimbursement have all increased, the Department of Finance announced Thursday. For vehicles acquired after Jan. …
Finance has provided additional details for the 1% Underused Housing Tax on non-resident, non-Canadian owned residential real estate in Canada that is considered to be vacant or underused. Legislation to implement the Underused Housing Tax Act (UHT Act) is included in Bill C-8, which received first reading on December 15, 2021. The new annual tax …
The Canada Emergency Business Account (CEBA) program has provided interest-free, partially forgivable loans to nearly 900,000 small businesses and not-for-profit organizations to help them navigate the pandemic and remain resilient. However, the Omicron variant has delayed the recovery for businesses in many parts of the country. Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister …
Theranos founder Elizabeth Holmes has been convicted of defrauding investors after a months-long landmark trial in California. Prosecutors said Holmes knowingly lied about technology she said could detect diseases with a few drops of blood. Jurors found Holmes guilty of conspiracy to commit fraud against investors and three charges of wire fraud. She denied the …
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