tax strategy

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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track and field athletes at 2024 Games illustrating strategic business lessons

Strategic (and actionable) business lessons from the 2024 Games

When the last race has been run, the final hurdle cleared and the cauldron extinguished until next time, we’ll be left with countless unforgettable memories from the Paris 2024 Olympics. And the Games featured many for Team Canada—from Summer McIntosh’s multi-medal, in-pool dominance to surprise track and field victories from the likes of hammer throwers …

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Toronto skyline illustrating growth in 2023

Celebrating another year of growth and client success at Adams + Miles

Each year we’re proud to celebrate our achievements as a firm—and once again, the Adams + Miles team took some major steps forward. From operations to international networking to overall firm-wide growth, 2023 has been a year to remember. I want to start by offering a heartfelt ‘thank you’ to our clients. You are the …

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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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Accountant doing trust reporting to Canada Revenue Agency

New trust reporting rules apply to trusts wound up in 2023

The federal government’s new trust reporting rules and failure to comply penalties apply to most inter-vivos trusts for taxation years ending on or after December 31, 2023. In the case of trusts that no longer serve a useful purpose, some trustees may believe they can avoid these new rules by distributing all assets to beneficiaries …

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