Here are a few ideas for your 2024 financial checklist to help put you into an even better financial position by this time next year. Despite the higher interest rates and fear of the recession in 2023, many doctors who invested in the stock … [Read more...]
Just for Doctors Newsletters
27
Dec, 2023 Probate planning in a nutshell
December 27, 2023 by
When is probate necessary? Probate is required when assets are held on an individual’s death that pass through a person’s Will to the surviving beneficiaries. Probate is a court proceeding that confirms that: The Will is not being … [Read more...]
27
Dec, 2023 Fall Economic Summit Release
December 27, 2023 by
On November 21, 2023 the federal government released its annual Fall Economic Summit. Some of the key highlights to note are as follows: Rental expense deduction for non-compliant short-term rentals A new rule prevents short-term rental … [Read more...]
27
Dec, 2023 Expansion of BC Speculation and Vacancy Tax to more Communities
December 27, 2023 by
The BC government announced it is expanding the current Speculation and Vacancy Tax to include 13 more communities below: Vernon, Coldstream Penticton, Summerland Lake Country, Peachland Courtenay, Comox, Cumberland Parksville, … [Read more...]
8
Nov, 2023 Immediate Expensing Deadline: December 31, 2023
November 8, 2023 by
The 2021 Federal Budget brought in rules that allowed individuals, partnerships, or private corporations to entirely write off asset additions (some types of assets, such as buildings, were excluded) in the year of acquisition, unlike in previous … [Read more...]
8
Nov, 2023 Short-Term Rental Rules and UHT Deadline Updates
November 8, 2023 by
On October 26, 2023, only 10 days after the drafted legislation was released (see previous article) the NDP passed the legislation without any of the amendments that the opposition BC United Party had suggested. While the regulations to support the … [Read more...]
8
Nov, 2023 Don’t miss the (FHSA) contribution deadline of December 31
November 8, 2023 by
The deadline to contribute to a First Home Savings Account (FHSA) and get a deduction on your 2023 tax return is December 31, 2023. We previously wrote about the details of the program … [Read more...]
8
Nov, 2023 CEBA Loan Deadline Extension
November 8, 2023 by
CEBA Loan Deadline Extension The government announced a long-awaited deadline extension for the Canada Emergency Business Account (CEBA) loan repayments. Deadline Extension The repayment deadline has been extended to January 18, 2024 (from the … [Read more...]
19
Oct, 2023 GAAR Changes to End Surplus Stripping?
October 19, 2023 by
The 2023 Federal Budget released draft legislation amending the General Anti-Avoidance Rules (“GAAR”) that would significantly impact any transactions the government finds abusive. After an initial consultation period, updated draft legislation was … [Read more...]
19
Oct, 2023 Reminder to File Your Underused Housing Tax (“UHT”) Forms by October 31, 2023
October 19, 2023 by
As we initially reported in our March 14, 2023 newsletter the government requires Canadians to file UHT returns for residential property held inside a private corporation, partnership or via a trust (including a bare trust). For the 2022 taxation … [Read more...]
