Wellington-Altus Newsroom

On November 3, 2022, the Department of Finance released updated draft legislative proposals outlining the First Home Savings Account (“FHSA”).

Trusts with a December 31 year end will be required to comply with the new reporting requirements beginning with their 2023 T3 Return.

Clients who have implemented a prescribed rate loan should be reminded to pay the appropriate interest relating to the 2022 year on or before January 30, 2023.

When it comes to philanthropy, Canadians today are more intentional, want to see the impact of their gift, and are giving more. With intentional philanthropy, clients should address the following questions...

The government is confident that the Canadian economy will withstand the global economic slowdown that is anticipated by many. While Canada’s unemployment rate is at multi-decade lows, and its economic growth has outperformed its G7 peers’ year to date, admittedly its strong recovery post-Covid 19 is slowing down.

Canadian residents who routinely fly south to escape the cold winters at home may not be aware that they could face U.S. tax consequences. This article looks at how spending extended periods in the U.S. can subject Canadians who are not otherwise U.S. taxpayers

Many individuals approaching retirement wonder if there is an optimal age to begin taking their Canada Pension Plan retirement pension benefits (CPP).

A Registered Education Savings Plan (RESP) is a Canadian registered investment account that promotes saving to support a beneficiary’s post-secondary education. Anyone – parents, family and friends – can open a RESP as a “subscriber” for the benefit of a child.