High-income Canadians looking to minimize their federal income tax should look at taking any bonuses they may be due or big capital gains this year to avoid paying more when Ottawa's new top rate kicks in next year.
After a short throne speech to kick off the Liberal government’s first session of parliament, Prime Minister Justin Trudeau’s first order of business will be to introduce tax cuts for the middle class.
The Liberal government's plan to switch some of the tax burden from middle-income earners to the top one per cent will likely lead to multibillion-dollar annual revenue shortfalls for Ottawa and the provinces, according to the C.D. Howe Institute.
As the deadline to file income tax returns looms, tax professionals have a dire warning for Canadians: Even if you can't pay your tax bill immediately, filing your return after the deadline means you'll face an even heftier bill.
Retail sales taxes have played a big part in saddling businesses in Manitoba and B.C. with tax burdens on investments that rival those in some of the world's largest industrialized countries, a new study shows.
As Canadians begin to look forward to a series of new federal tax measures kicking in soon, newly-released figures show changes to taxes and tariffs are also helping bolster the government's bottom line.