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Navigating Canada’s Latest Trust Reporting Legislation Changes

The government’s new federal trust reporting rules will increase disclosure requirements, affecting a wide range of Canadian trusts. Originally, the federal government introduced significant changes to trust legislation in 2018 to encourage reporting transparency. These rules were amended on Dec. 15, 2022, to help the Canada Revenue Agency (CRA) better assess tax liabilities for ...

Congratulations Jane Xu!

We are proud to congratulate Jane Xu (Team SIR) on successfully completing the 2023 Common Final Exam (CFE) and continuing her professional journey towards becoming a Chartered Professional Accountant. Congratulations on this significant achievement! All the best!

Tax Insights: 2023 Fall Economic Statement (FES 2023)

On November 21, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland introduced the 2023 Fall Economic Statement (FES 2023) on behalf of the federal government. These measures aim to modify the Underused Housing Tax (UHT) to exclude specific individuals, reduce the profitability of short-term rental properties, and enhance the affordability of certain ...

Ontario’s Fall Economic Outlook Promises Additional Tax Credits During Financial Uncertainty

The Ontario Fall Economic Statement 2023 forecasts a substantial increase in the deficit for the 2023-24 fiscal year of $5.6 billion. This marks a significant departure from the province’s 2023 budget, which had projected a deficit of $1.3 billion. Ontario attributes the expanded deficit to recent interest rate hikes, elevated inflation rates, and lower-than-anticipated ...

Congrats to our May 2023 CFE writers!

“Life is a journey with problems to solve and lessons to learn but most of all. Experiences to enjoy.” Congratulations to all of our team members who passed the 2023 Common Final Exam (CFE) and moved one step closer with their career aspirations to become certified professional accountants. We extend our congratulations to this ...

Zeifmans recognized as a Top 10 Accounting Services Provider in Canada!

We are pleased to announce that Zeifmans LLP was featured in Business Management Review Magazine’s 2023 Top 10 Accounting Services Providers in Canada! This acknowledgement recognizes Zeifmans’ track record of providing insightful, personalized advice, supporting over 11,000 clients and their generations to meet their financial and business goals. It also recognizes our guidance of ...

Congrats to our 2022 CFE writers!

Life is full of milestones, and this is just the beginning of the journey. Zeifmans LLP is proud to congratulate our team members on successfully completing the 2022 Common Final Exam (CFE) and continuing their professional journey towards becoming chartered professional accountants.  A big congratulations to our CFE writers this year: Mark Davidson, Eli ...