Entries by KHGrandForks

EMPLOYER HEALTH TAX DEADLINES

It has been a few months since the introduction of the Employer Health Tax in British Columbia. It is mandatory for all employers in British Columbia to be registered for the tax if they are above the exemption threshold. General employers (entities that are not charities or not-for-profits) with eligible wages above $600,000 in 2018 […]

REAL ESTATE TRANSACTIONS AUDITED

The CRA has ramped up efforts to collect tax on real estate dispositions. For years, many taxable property sales were unreported to the CRA, resulting in significant amounts of potential taxes going unpaid. However, working in conjunction with provincial agencies in charge of property transfers, the CRA has uncovered substantial numbers of property sales that […]

Mental Illness and the Disability Tax Credit

A recent case involving mental illness may have positive ramifications for future taxpayers claiming the Disability Tax Credit, in cases where those taxpayers have a mental impairment. A taxpayer had been diagnosed by a psychiatrist as having severe social anxiety disorder, severe panic disorder with agoraphobia, and chronic and moderate to severe generalized anxiety disorder. […]

Tax Changes to Come From Election

Now that a federal Liberal minority government has been elected, we can review some of the policies that the Liberals campaigned on to predict tax changes that may be coming in the next few years. Currently all taxpayers in Canada pay no federal tax on their first $12,069 of income. The Liberal government has pledged to […]