TaxNewsNOW – Previous Editions
TaxNewsNOW – Previous Editions
Insights on tax news and trending topics from KPMG tax professionals in Canada.
February 2023
January 2023
December 2022
December 20 - Alberta resumes indexing of personal income tax brackets and credit amounts
December 20 - OECD Pillar One work continues with new Amount B consultation
December 20 - Federal budget bill #2 now law
December 20 - Reminder — Pay 2022 interest on family income splitting loans
December 13 - Ontario enacts certain changes included in Fall Economic Update
December 13 - Trade chain partners — CBSA asks for input on CARM’s systems and process changes
December 13 - Federal budget bill #2 now substantively enacted
December 13 - Quebec — 2022 budget measures and more substantively enacted
December 8 - Highlights of the Quebec 2022 Economic Update
December 6 - Finance reaches out for design input on clean hydrogen and technology investment tax credits
December 6 - Carbon tax — Federal fuel charge expanding to more provinces next year
November 2022
November 22 - TFSA contribution limit increases in 2023
November 15 - Reminder — Request 2012 fairness relief by December 31, 2022
November 15 - Nova Scotia — Changes to capital investment tax credit now law
November 15 - Saskatchewan — Extended small business tax relief now law
November 15 - 2022 Manitoba budget bill now law
November 8 - CRA prescribed rate continues to increase for Q1 2023
November 8 - New Brunswick reduces personal income tax rates
November 8 - Prescribed interest rate for PLOIs rises again in Q1 2023
November 8 - 2023 pension contribution limits — Available now
November 8 - 2023 CPP contribution limits rise
November 8 - Federal budget bill #2 receives first reading
November 1 - Select corporate tax highlights of Australia’s budget
October 2022
October 25 - Ontario increases foreign home buyers tax
October 25 - OECD unveils transparency framework for crypto-assets and CRS amendments
October 18 - Manitoba — 2022 budget measures and more substantively enacted
October 18 - Canada introduces new apprenticeship funding
October 11 - EU expands blacklist of non-cooperative tax jurisdictions
October 4 - Federal EI premium rates rise in 2023
September 2022
September 27 - New customs importer of record rules
September 27 - Federal 10% excise tax on insurance — Are you meeting your obligations?
September 20 - Court finds CPP/EI applies to restaurant tips
September 13 - 2022 Ontario Budget Bill now law
September 6 - B.C. PST rebate on select machinery & equipment — Upcoming deadline
September 6 - Investment plans — Act now to collect details from investors
August 2022
August 30 - Saskatchewan extends small business tax relief and more
August 16 - Ontario reintroduces 2022 budget bill
August 2 - Prescribed interest rate for PLOIs rises in Q4 2022
August 2 - CRA prescribed rate increases for Q4 2022
July 2022
June 2022
June 28 - Quebec harmonizes with Federal Budget measures and more
June 28 - 2022 Federal Budget bill #1 now law
June 28 - Importers — Temporary customs relief available for Ukraine goods
June 14 - Platform operators — File annual QST return by June 30, 2022
June 14 - 2021 Federal Fall Economic Update Bill now law
June 14 - 2022 federal budget Bill #1 passes third reading
June 14 - Quebec — 2022 budget measures now law
June 7 - Territorial 2022 budget round-up — No tax rate changes
June 7 - Newfoundland and Labrador enacts new corporate tax credits
June 7 - British Columbia 2022 budget bill receives Royal Assent
May 2022
May 31 - Enhancements to Saskatchewan’s Value-added Agriculture Incentive now law
May 31 - MLI update — China files ratification with OECD
May 31 - OECD receives feedback on regulated financial services exclusion
May 17 - Quebec — 2022 budget measures and more substantively enacted
May 17 - Newfoundland and Labrador — New tax credits substantively enacted
May 10 - Federal Fall Economic Update bill now substantively enacted
May 10 - Nova Scotia scraps non-resident property tax
May 3 - CRA prescribed rate increases for Q3 2022
May 3 - Prescribed interest rate for PLOIs increases to 5.2% in Q3 2022
May 3 - CRA extends relief for Indigenous tax exemptions
May 3 - Federal Budget Bill #1 receives first reading with other outstanding measures
April 2022
March 2022
March 22 - Last chance for B.C. PST rebate on select machinery & equipment
March 22 - Barbados introduces COVID contribution levy
March 22 - April 30 deadline reminder — 10% federal cross-border insurance tax
March 22 - Latest CRA MAP report shows small increase in transfer pricing cases
March 15 - Financial Institutions — Get ready to file GST annual returns
March 1 - EU expands grey list of non-cooperative tax jurisdictions
February 2022
February 22 - Canada outlines new changes to immigration process
February 15 - CRA prescribed rate holds steady at 1% for Q2 2022
February 15 - Prescribed interest rate for PLOIs — Slight increase in Q2 2022
January 2022
January 25 - OECD’s transfer pricing guidelines — Updated edition
January 18 - CEBA loans — Finance pushes repayment deadline to end of 2023
January 18 - Underused Housing Tax — New legislation, more exclusions coming?
January 12 - Quebec further tweaks patent box regime
January 11 - Employers with pension plans — GST/HST and QST due January 31, 2022
January 11 - COVID-19 — Ontario unveils interest & penalty relief
January 11 - CRA retains cross-border employee relief for 2021
January 11 - 2022 automobile allowance limits — Two cent bump for personal use benefit
December 2021
December 21 - Multinationals — Clock starts for EU public CbC reporting
December 21 - CRA updates view on insurance intermediation
December 21 - Quebec budget bill receives Assent
December 21 - Reminder — Pay 2021 interest on family income splitting loans
December 14 - 2020 OECD MAP report — New cases increasing
December 14 - Newfoundland & Labrador — Sweetened beverage tax now law
December 7 - Platform operators — GST/HST annual information return deferred
December 7 - 2021 P.E.I. budget bill receives royal assent
November 2021
November 23 - Reminder — Request 2011 fairness relief by December 31, 2021
November 16 - EU parliament adopts public country-by-country reporting
November 16 - Quebec 2021 budget measures and more substantively enacted
November 9 - 2022 CPP contribution limits increase
November 9 - CRA prescribed rate remains at 1% for Q1 2022
November 9 - Prescribed interest rate for PLOIs — Down slightly in Q1 2022
November 9 - CRA announces pension contribution limits for 2022
November 9 - 2021 P.E.I. budget bill now substantively enacted
November 9 - B.C. extends Land Owner Transparency filing deadline
November 2 - Highlights of the 2021 UK autumn budget
October 2021
October 26 - BC Land Owner Transparency rules — Deadline approaching
October 26 - Ontario corporate annual information returns — Filing changes
October 26 - Manitoba 2021 budget bill receives Royal Assent
October 26 - British Columbia extends PST rebate on select machinery & equipment
October 12 - EU updates list of non-cooperative tax jurisdictions
September 2021
September 28 - Investment plans — Reminder to request investors’ GST details
September 21 - Federal EI premium rates hold steady in 2022
September 7 - Extensions to federal COVID-19 relief now law
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