Search Blogs
Canada’s Underused Housing Tax
The Government of Canada enacted a 1% Underused Housing Tax (“UHT”) on the fair market value of Canadian residential real estate held by certain owners. Various exemptions apply to limit the application of this tax. This tax is effective January 1, 2022 and requires reporting by May 1, 2023. Who Does UHT Apply To? UHT […]
2% Share Buyback Tax: What to Expect?
January 5, 2023Prepared by Andersen in Canada, Montreal Partner Danny Guérin with support from Stéphanie Perras. The 2022 Federal Fall Economic Statement announced a two-percent tax that would applyon the net value of all types of share buybacks made by public corporations in Canada. Thetax would come into effect on January 1, 2024. The statement indicates that more detailswill be […]
Highlights of the 2022 Fall Economic statement
November 15, 2022Prepared by Andersen in Canada, Montréal Partner Patrick Coutu, Tax Director Danny Guerin with support from Maya Desrosiers On November 3, 2022, The Deputy Prime Minister and Minister of Finance, Chrystia Freeland, presented the 2022 Fall Economic Statement. Below is an overview of some of the major tax related announcements of this statement: 1. Tax on share buybacks The […]
Canadian Film or Video Production Tax Credit
June 2, 2022Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal with support from Lisa Chea. Extension of timelines for Film or Video Production Services Tax Credit In the Budget 2021, the government of Canada proposed to extend the timelines for eligibility and compliance for the Canadian Film or Video Production Tax Credit (CPTC) and Film or […]