The Federal Reserve will start dialing back its ultra-low-rate policies this year as long as hiring continues to improve, Chair Jerome Powell said Friday, signaling the beginning of the end of the Fed’s extraordinary response to the pandemic recession. In a speech given virtually to an annual gathering of central bankers and academics, Powell said …
NDP pledges to raise top marginal tax rate, capital gains inclusion rate The corporate tax rate would also go to 18% The NDP will raise the top federal marginal tax rate by two percentage points if given the mandate to form government. Ahead of a widely anticipated federal election, the NDP released a proto-platform Thursday that …
The federal government is committed to ensuring all Canadians have a safe and affordable place to call home. In communities across the country, the recent and rapid rise in housing prices has made finding an affordable place to call home increasingly difficult. For many Canadians, the most important investment they will ever make is the …
When is a taxpayer a resident of a contracting state for purposes of a tax treaty? The decades old definition in article 4(1) of the OECD Model that ‘“resident of a Contracting State” means any person who, under the laws of that State, is liable to tax therein by reason of his domicile, residence, place …
As the COVID-19 pandemic evolves, the Government of Canada continues to adapt its support to deliver support to those who need it, heal the wounds of the pandemic recession, and build a strong recovery that leaves no one behind. Today, the Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, and the Honourable …
The Canada Revenue Agency (CRA) announced that, on July 13, 2021, Joern Scholz (Scholz), also known as John Scholz, of Port Carling, Ontario, was sentenced to three years’ imprisonment, following the CRA’s successful appeal of a conditional sentence imposed on September 26, 2019. Scholz was found guilty by a jury on April 13, 2019, in …
Annual Processing Review Program We will be starting our annual post-assessment review of individual income tax and benefit returns shortly. If your client’s tax return has been selected for review, we will send our letters to your office if: • you have been designated as your client’s representative; and• you have indicated that our Processing Review …
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