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Alberta Tax Rates 2022
On August 31, 2022, the Government of Alberta announced that it would be indexing personal income taxes to inflation retroactive to the 2022 year. For 2022, the increase will be based on a 2.3% indexation amount. The 2021 and 2022 Alberta tax brackets are as follows.
Directors can be personally liable…
Tax on your new Luxury Vehicle
Canada's Luxury Tax - effective Sep 1, 2022 Canada's Luxury Tax received Royal Assent on June 23, 2022. The tax will apply to new cars and aircraft with a retail sales price over $100,000 and to vessels over $250,000. If you recently purchased a luxury vehicle that...
Did you know? Type 1 Diabetes automatically DTC eligible
Parents of children with T1D, spouses or common-law partners of people living with T1D, and individuals over the age of 18 with T1D can apply. To qualify for the DTC a medical practitioner must complete Form T2201, Disability Tax Credit Certificate certifying that you...
Proposed Luxury Tax
Buying a home with family help
Corporate Advertising and Promotion Expenses: CRA Increasing Reviews
FUN FACT: The CRA audit hit rate (percentage of audits resulting in an audit adjustment) was close to 60% in 2018 and 2019. So what is CRA reviewing? Over the past few years, CRA has taken a targeted approach in reviewing amounts claimed under specific lines (based...