2018 Tax Season: Common Myths
March 14, 2019
Many myths have developed over the years around the income tax system and the filing of tax returns. This tax season, let us highlight some common misunderstandings and clarify the truth.
Accounting
On November 4, 2025, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, presented Budget 2025 – Canada Strong, to the House of Commons. No changes were proposed to personal or corporate tax rates. Some highlights include the following: Some highlights include: A. Personal Measures Automatic tax filings for low-income Canadians to commence for the 2025 tax year. A 5% credit for eligible personal support workers working for eligible health care establishments. B. Business Measures A variety of new and extended measures for accelerated CCA on asset acquisitions. An anti-avoidance measure to prevent tax deferrals related to refundable dividend tax where dividends are paid within a corporate group. Various modifications to tax incentives related to the clean economy. C. International Measures Revisions to the transfer pricing rules and requirements.
Our team has assembled the most relevant and recent tax, business and agriculture updates for you in this season's newsletter.
