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Canada to Remove Consumer Carbon Price Effective April 1, 2025

Danny Guerin 04/02/2025

The Government of Canada has previously announced that, effective April 1, 2025, the federal fuel charge no longer applies, and provinces and territories are no longer required to implement a consumer-facing carbon price. Instead, the federal carbon pricing system now focuses on industrial emissions, maintaining ...

Update on Quebec’s Economic and Financial situation- Tax Updates 2024

Danny Guerin 12/02/2024

Overview On November 21, 2024, Quebec’s government issued the 2024 Update on Quebec’s Economic and Financial Situation. This comprehensive summary highlights the key changes introduced in the Update. Personal Tax Measures Changes to the tax credit for career extension Effective for the 2025 taxation year, ...

Canadian Non-residents indirect taxes registration requirements

Andersen Team 06/17/2024

INTRODUCTION The Goods and Services Tax/Harmonized Sales Tax (“GST/HST”) system is a value-added tax regime that applies across Canada. The GST/HST framework is designed to ensure that the tax is levied at each stage of production and distribution but is ultimately borne by the end ...

Yukon Provincial Budget Tax Updates 2024-2025

Andersen Team 03/19/2024

Overview On March 2, 2024, Yukon’s government has presented its 2024-2025 budget. This comprehensive summary highlights the key changes that will influence the Yukon tax environment in the coming years. Personal Income Tax Measures There are no proposed changes to personal income tax rates for ...

Quebec Provincial Budget Tax Updates 2024-2025

Andersen Team 03/18/2024

Overview On March 12, 2024, Quebec’s government has announced changes to its provincial tax laws in its 2024-2025 budget “Priorities: Health | Education”. This comprehensive summary highlights the key changes that will influence the Quebec tax environment in the coming years. Personal Income Tax Measures ...

B.C. Provincial Budget Tax Updates 2024

Andersen Team 03/13/2024

The B.C. government has announced changes to provincial tax laws in its Budget 2024 Taking Action For You, released on February 23, 2024. This summary highlights key changes shaping the provincial tax landscape for the foreseeable future. Corporate and personal tax rates remain unchanged for ...

Navigating Tax Strategies in a High-Interest Rate Environment: Considerations for Non-Resident Investors in Canada

Andersen Team 02/15/2024

Prepared by Danny Guérin, Myriam Vallée and Justine Lambert, Andersen in Montreal (Canada) INTRODUCTION The significant surge in inflation throughout 2022 has been a predominant concern for the economic community and the government alike as the inflation averaged 6.8%, reaching a peak of 8.1% in ...

U.S. and Canadian Capital Gains

Andersen 07/28/2023

INTRODUCTION Capital gains are distinguished from other types of income for both Canadian and U.S. tax purposes. Often, capital gains are taxed at a lower effective rate than ordinary income, and in some cases they are exempt from tax altogether. Taxpayers should consider how these ...

Beneficial Ownership Information Reporting

Andersen 07/13/2023

The Corporate Transparency Act (CTA), enacted by the U.S. Congress on January 1, 2021, is designed to strengthen the integrity of the U.S. financial system. It establishes new U.S. reporting obligations for certain types of corporations, which will take effect on January 1, 2024. Non-U.S. ...

Canada Federal Budget 2023 Highlights

Léa Duval 04/03/2023

Prepared by Andersen in Canada, Montreal Partner Danny Guérin with support from Kiran Younas On the 28th of March 2023, Deputy Prime Minister and Minister of Finance, the Honourable Chrystia Freeland, presented Budget 2023 entitled “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future”. The Budget 2023 ...

The member firms of Andersen in Canada focus on Canadian, international and Canada-U.S. cross-border tax matters. With offices across Canada, our tax professionals work with a broad range of businesses and individual clients to develop innovative tax solutions for a diverse range of issues. Our senior leaders and many of our professional staff have extensive experience in Canadian, international, U.S. and cross-border tax matters with major international accounting firms, as well as practical experience working with businesses and individuals.

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