tax planning

The newest member of the Adams + Miles partnership group Andrew McConnell

Long-time Adams + Miles manager Andrew McConnell admitted to partnership

When we first met Andrew McConnell, we knew he had some special qualities. He was a young and ambitious accountant-in-training. He possessed a unique drive, attention to detail and a dedication to excellence—attributes that have long been a hallmark of our firm. In those early days as a university co-op student, his potential was clear—and, …

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Parliament Hill where the capital gains inclusion rate was deferred

Capital gains inclusion rate hike deferred until Jan. 1, 2026

The federal government last week announced plans to defer implementation of the proposed capital gains inclusion rate increase to January 1st, 2026, from the original proposed date of June 25th, 2024. The proposed measure would see the capital gains inclusion rate increase to two-thirds from one-half on annual capital gains realized by corporations and most …

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Business leaders discuss business strategy in the New Year

It’s the New Year—a perfect time to refocus your business strategy

The early days of the New Year can be energizing for business leaders. It’s an ideal time to reflect, look ahead and optimize their organization’s growth strategy. It’s about evaluating new or untapped opportunities. It’s also a chance to predict possible risks on the horizon. And there are many facing Canadian companies. Take the political …

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Capital gains inclusion rate and business in Canada

Capital gains uncertainty—and some of the business tax measures taking effect in 2025

The tabling last year of proposed capital gains inclusion rate changes was controversial. The measure’s continued implementation is proving even more contentious. Last week the Canada Revenue Agency confirmed that it would, indeed, continue implementing the increase to the capital gains inclusion rate—to two-thirds from one half on all capital gains earned by corporations and …

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Workers in an office discussing the 2024 Fall Economic Statement

2024 Fall Economic Statement highlights for SMEs: Restoration of Accelerated Investment Incentive, SR&ED enhancements

The federal government’s 2024 Fall Economic Statement was delivered this week amid the chaos of Finance Minister Chrystia Freeland’s resignation, her replacement in that portfolio by Public Safety Minister Dominic LeBlanc, and ongoing threats of a trade war from South of the Border. Within that context, Ottawa announced a higher-than-expected deficit of $61.9 billion for …

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children's building toys exempt from HST

Potential HST holiday compliance pitfalls for small businesses

With the hectic holiday season upon them, businesses across Canada have a new administrative task to manage in the coming days: accounting for the federal government’s HST holiday (see the government announcement for the full details and implementation guidelines). The measure—which has now received royal assent and will be in effect between December 14th, 2024 …

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International tax compliance looking at New York skyline

Pay attention to these 7 international tax compliance points when going global

For many Canadian CEOs, success in their domestic market is only the first step in a longer journey of business expansion. The more lucrative target can be international markets—often beginning with the U.S. (most Canadian companies’ natural next step for global growth) before looking further abroad. When they make that cross-border leap, however, business leaders …

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