Tips, Tricks and Taxes

The Federal and Ontario governments recently had their 2023 budgets tabled.

All of the items below are proposed and subject to change if/when enacted into law.

Ontario Budget

On March 23, 2023 the Ontario government tabled their 2023 budget.

The most notable tax related item was the introduction of the Ontario Made Manufacturing Investment Tax Credit. This tax credit:

• Would provide a 10 per cent refundable Corporate...

Dear Clients,

Beginning for 2022, the government has introduced the Underused Housing Tax (“UHT”).

The UHT imposes a 1% annual tax on the value of residential real estate considered to be vacant or underused that is owned on December 31 of each year. The government indicated that the tax would target property owned by non-Canadians; however, the scope of filing requirements extends to many Canadian entities and individuals, inclu...