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Exploring Section 1031 Rollover in US Real Estate for Canadians

With current low capitalization rates in the Canadian real estate market, many Canadians are looking south of the border to the United States for higher returns on their real estate investment. While the US real estate market potentially offers opportunities for growth, there are numerous tax traps for the unwary Canadian investor. Today, we ...

2022 federal budget focuses on housing market; spending lower than expected

Finance Minister Chrystia Freeland presented the 2022 Federal Budget to a divided House of Commons on April 7, 2022. The Liberal and NDP parties have recently agreed to a confidence deal, while the remaining parties sit on the sidelines.  Lower than anticipated spending and deficits This is the Liberal’s first budget since being elected ...

Preparing for the 2022 tax season

The Canadian government has moved quickly to offer economic relief and adjust tax regulations to benefit businesses and workers hit by economic challenges. To help you get up to speed, here is a quick summary of the most important tax changes affecting mid-sized Canadian companies in 2022, complete with links for further details. Updated ...

Proposed legislation introduced to reform cannabis taxation in the US

On July 14, 2021, Senate Majority Leader Chuck Schumer released a discussion draft of a detailed cannabis reform bill which, if enacted, would restore the deductibility of all expenses related to cannabis businesses and institute excise taxes on such businesses, resulting in big changes to cannabis taxation. Now backed by Democratic senators Cory Broker ...

The Biden Tax Plan: Where it stands

There has been a lot of talk in the recent news about the Biden tax plan moving forward in Congress.  However, there is no need for panic (yet!), as the potentially affected parties of this legislation are essentially “setting the table” to debate and draft the Biden tax plan. The Democrats hold a narrow ...

How Bill C-208 will ease the tax burden on family business

Family business is the backbone of the Canadian economy. When a family business is passed down to the next generation, we see so many positive ripple effects in the economy: A new entrepreneur is given the opportunity to succeed  New jobs are created  Industry advancements are made Loyal customers maintain a trusted partner Communities ...

Will stock option taxation changes hurt hiring?

Employers in Canada’s emerging industries like cannabis, psychedelics, and agritech are concerned about how upcoming changes to the taxation of stock options will impact their ability to recruit top talent. Traditionally, stock options are among the most enticing incentives used to attract senior talent; particularly the type of executives who are equipped to drive ...

Canadian real estate trends + opportunities in 2021

Looking back at initial predictions for the Canadian real estate market at the beginning of the COVID crisis, you might think you were reading a dystopian nightmare. All logic pointed to a crash, not unlike what certain markets saw in the wake of the 2008 recession. With unemployment rising, it was reasonable to assume ...