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TaxNewsFlash-Canada

TaxNewsFlash-Canada

KPMG in Canada provides the latest Canadian tax news and international tax news for you and your business.

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KPMG’s TaxNewsFlash-Canada covers the latest breaking tax news that matters to you and your business. For the latest tax law and policy developments from across Canada and the world, bookmark this page or subscribe for e-mail alerts.

August 2020

August 21 - Canada temporarily enhances EI program as CERB winds up

August 14 - U.S. — New interest expense limitation regs and guidance

August 10 - Alberta extends income tax payment deadlines to Sept. 30

August 7 - Canada responds to new U.S. aluminum tariffs

 

July 2020

July 27 - Income tax payment deadlines extended to September 30

July 27 - Canada enacts wage subsidy extension and enhancements

July 23 - Alberta’s new 20% R&D grant — Coming soon

July 17 - Canada further extends and expands wage subsidy

July 7 - Tax accounting — Q2 2020 update

 

June 2020

June 30 - Saskatchewan — New PST rules for e-commerce platforms

June 29 - Alberta drops corporate tax rate to 8% effective July 1

June 29 - COVID-19 — CRA extends travel restrictions relief

June 17 - Highlights of the 2020 P.E.I. budget

June 15 - Highlights of Saskatchewan's 2020 budget

June 15 - Extended 75% wage subsidy — 30% revenue decline for June

June 11 - COVID-19 — Canada seeks changes to relief measures

June 3 - Lock in family income-splitting loans starting July 1

June 2 - CRA Confirms Tax Due Dates Extended to September 1, 2020

 

May 2020

May 31 - COVID-19 — New tax filing extensions and relief

May 25 - COVID-19 — New CRA relief addresses travel restrictions

May 25 - Canada proposes postponing tax & legal deadlines

May 22 - Canada offers wage subsidy for health research groups

May 15 - Canada extends 75% wage subsidy and refines eligibility

May 15 - Employers — No SUB “Top up” for CERB relief payments

 

April 2020

April 30 - FIs — Ensure self-certifications meet CRS & FATCA rules

April 28 - CUSMA — New trade deal takes effect July 1, 2020

April 24 - Canadian news media — Labour tax credit expanded

April 23 - Innovative businesses — Apply now for COVID-19 relief

April 21 - Employers — Prepare to apply for 75% wage subsidy

April 17 - FIs — CRA extends deadlines for FATCA and CRS returns

April 13 - Employers — Canada’s 75% wage subsidy now enacted

April 8 - Employers — Canada eases access to 75% wage subsidy

April 8 - COVID-19 — Quebec to reimburse training expenses

April 2 - COVID-19 — CRA & Quebec Offer GST/HST and QST Relief

April 1 - Employers — Canada provides details of 75% wage subsidy

 

March 2020

March 30 - New Brunswick — Tax on carbon-emitting products starts April 1, 2020

March 27 - Canada to boost COVID-19 tax response

March 27 - U.S. COVID-19 response — New relief for individuals

March 26 - Federal COVID-19 relief — More details released

March 26 - U.S. COVID-19 response provides new tax relief

March 25 - Highlights of Ontario’s 2020 economic and fiscal update

March 24 - B.C. offers tax deferrals and extensions for COVID-19

March 24 - Alberta offers COVID-19 tax relief for businesses

March 24 - Manitoba — RST and other tax deadlines extended

March 24 - Derivative instruments — New clarity for characterization

March 20 - Employers — Managing tax & legal issues during COVID-19

March 20 - Mining in Saskatchewan — PST refund opportunity

March 20 - U.S. filing deadlines extended to July 15

March 20 - U.S. offers paid leave and employer credits for COVID-19

March 20 - COVID-19 — Quebec harmonizes with federal measures

March 19 - Highlights of the 2020 Manitoba budget

March 18 - Highlights of Saskatchewan's 2020-21 budget estimates and COVID-19 relief

March 18 - COVID-19 — U.S. pushes back tax payment deadline

March 18 - Employers — Prepare your COVID-19 contingency plan

March 18 - COVID-19 — Tax deadline delay and more relief announced

March 18 - Update for businesses on Canadian-U.S. travel restrictions

March 17 - Quebec delays tax deadlines in light of COVID-19 issues

March 13 - Canada ratifies CUSMA trade deal with U.S. and Mexico

March 13 - Fiscal relief on the way following COVID-19 concerns

March 12 - Tax measures included in Canada's COVID-19 response

March 11 - 2020 federal budget — Tax changes on the table

March 10 - Highlights of the 2020-2021 Quebec budget

March 10 - Highlights of the 2020 New Brunswick budget

 

February 2020

27 February - Highlights of the 2020 Alberta budget

25 February - Highlights of the 2020 Nova Scotia budget

18 February - Highlights of the 2020 British Columbia budget

7 February - Digital economy — OECD clarifies unified approach

 

January 2020

10 January - Canadian news media — Apply now for labour tax credit

3 January - Tax accounting — 2019 tax rates and other changes

 

December 2019

19 December - New stock option rules delayed

19 December - GST and customs — Overview of 2019 changes

12 December - Canada’s trade deal with U.S. and Mexico ready to be ratified

9 December - Canada Proposes new “Middle Class tax Cut” Starting in 2020

6 December - TIER Approved — Alberta facilities should register with CRA now

6 December - Federal carbon pricing coming to Alberta on January 1, 2020

5 December - Digital economy — KPMG on OECD’s minimum rate of tax

4 December - U.S. issues final BEAT regs and more related proposals

 

November 2019

29 November - Upcoming treaty changes— Review withholding Obligations now

26 November - Digital Economy — OECD explores minimum rate of tax

20 November - Charitable Planning — Helping your donation go further

15 November - Digital economy — KPMG on OECD's "Pillar One" proposal

11 November - 2019 year-end tax tips for owner-managers

8 November - 2019 year-end tips for your personal taxes

7 November - Highlights of the 2019 Quebec fall update

6 November - Ontario drops small business tax rate for 2020

 

October 2019

24 October - Highlights of the 2019 Alberta budget

22 October - Post-2019 election — Possible tax changes

11 October - Digital economy — OECD proposes  unified tax approach

11 October - Employers and pension plans — Meet GST/HST obligations

4 October - U.S. announces additional relief affecting Canadian CFCs

 

September 2019

19 September - Investment plans — Act now to obtain investor GST details

 

August 2019

30 August - MLI to modify Canadian tax treaties in 2020

23 August - Quebec extends upcoming deadline for disclosing nominee agreements

12 August - Quebec — Act now to disclose nominee agreements

6 August - Mutual Fund Trusts — New relief for allocation rules

 

July 2019

25 July - Canada keeps close eye on steel imports

3 July - Tax accounting — Q2 2019 update

 

June 2019

26 June - Highlights of the 2019 P.E.I. budget

24 June - Canadian residents — Prepare for new U.S. GILTI tax changes

19 June - Finance reveals more details on stock option deduction cap

12 June - Pension funds may qualify for U.S. tax exemption

7 June - Manitoba — Prepare for RST reduction transitional rules

5 June - Canada prepares to respond to potential steel import surge

 

May 2019

29 May - Alberta — Corporate tax rate drops to 8% by 2022

24 May - Holding Companies — Prepare for new GST/HST rules

24 May - Federal fuel charge reporting starts May 31

21 May - U.S. removes tariffs on Canadian steel and aluminum

9 May - Canadian businesses — New QST rules coming September 1

 

April 2019

16 April - Highlights of the 2019 Newfoundland and Labrador budget

12 April - Canadian news media — Budget details new labour tax credit

12 April - Canadian companies — IRS revises employer registration

11 April - Highlights of the 2019 Ontario budget

 

March 2019

29 March - Update — Tracking arrangements and investment Funds

27 March - B.C. property owners — Make declaration by March 31

26 March - New Stock option rules coming — Take action now

26 March - Highlights of the 2019 Nova Scotia budget

21 March - 2019-2020 Quebec budget highlights

20 March - 2019 federal budget — Spotlight on asset management

20 March - Highlights of the 2019 Saskatchewan budget

19 March - 2019 federal budget highlights

19 March - Highlights of the 2019 New Brunswick budget

18 March - KPMG weighs in on future of digital tax

11 March - Electronic platforms — New QST rules now in effect

7 March - Highlights of the 2019 Manitoba budget

 

February 2019

20 February - Federal budget 2019 — Election preview?

19 February - Highlights of the 2019 British Columbia budget

15 February - Businesses — Are you meeting Saskatchewan PST rules?

 

January 2019

9 January - Tax accounting — 2018 tax rates and other changes

 

December 2018

21 December - U.S. tax reform — New hybrid regulations released

20 December - GST and customs — Overview of 2018 changes

20 December - ILPs — Act fast to meet GST/HST Election deadline

20 December - U.S. Issues BEAT regulations and more tax reform guidance

7 December - Businesses outside Quebec — New QST rules in 2019

3 December - Highlights of the 2018 Quebec fall economic update

 

November 2018

30 November - U.S. provides details on new interest expense limitations

30 November - GPs and ILPs — Stay up-to-date with new GST obligations

30 November - Canada’s trade deal with U.S. and Mexico moving forward

28 November - Canadian news media — Watch for upcoming tax relief

21 November - Canada announces enhanced capital cost allowances

15 November - Ontario won’t adopt all federal passive Income changes

14 November - Employers and pension plans — Meet GST/HST Obligations

13 November - Owner-managers — Time sensitive tax tips for 2018

2 November - 2018 personal tax — Time sensitive tips

 

October 2018

29 October - Making the most of your charitable planning

26 October - Finance eases up on shortened T1134

23 October - B.C. releases draft legislation for speculation tax

22 October - B.C. EHT starts 2019 — Draft legislation released

12 October - ILPs — Consider GST election to help reduce tax costs

12 October - Canada announces new exceptions from trade tariffs

1 October - Canada and U.S. reach agreement on trade deal

 

September 2018

19 September - Make U.S. offshore disclosures by September 28

© 2020 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity.  Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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