September 2022 — MOORE North America

Rules for Disclosure of Determined Transactions

Since 2021, taxpayers must disclose the specified transactions they have carried out to Revenu Québec. To date, the first four determined transactions have been published. This article outlines these four determined transactions and includes notes on excluded transactions.

7 September 2022

Sailing into the Sunset: Succession planning for a successful retirement

Small business owners spend their working lives building a legacy and pouring countless hard-working hours into their business. Read this article for tips on crafting a successful succession plan that allows business owners to retire worry-free, knowing that their legacy will be in good hands.

6 September 2022

All in the family – Passing the cottage to the next generation

As parents age, they may think about transferring assets and family heirlooms to their children. Often, one such heirloom is the family cottage. It’s important to understand the issues surrounding the transition of such an asset to the next generation. This article highlights issues to consider, including income tax implications and options available.

6 September 2022

Underused Housing Tax Act

On June 9, 2022 Bill C-8 received Royal Assent making the Underused Housing Tax Act (“UHTA”) law. This new legislation requires certain owners of residential property in Canada to file returns annually commencing in 2022, with the first filing deadline coming this April 30, 2023. This article outlines the law, important definitions, and considerations for compliance.

6 September 2022