Latest News

Clearline Blog & News

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

2024 Capital Gains Changes

In our previous Federal Budget newsletter, we mentioned several proposed changes to capital gains taxation.   Capital Gains Inclusion Rate As previously mentioned, the 2024 Federal Budget proposes increasing the current capital gains inclusion rate for certain taxpayers effective June 25, 2024. The proposed legislation to implement this change was released on June 10th. Based on…

4 min read

Overview of Provincial and Federal New and Enhanced Tax Measures

This article provides a high-level overview of several new and enhanced tax measures introduced by the BC and Federal governments. Each of the measures discussed below is intended by the government to address challenges in the real estate sector, including housing affordability, supply, and investor speculation.  Federal Measures:  Underused Housing Tax (“UHT”) The UHT legislation…

12 min read

The Canadian Pension Plan Enhancement

The Canadian Pension Plan (CPP) is a mandatory pension plan funded by contributions from employees, employers, and self-employed individuals. It covers almost all workers in Canada except those in Quebec, which has its own Quebec Pension Plan (QPP). The CPP provides basic earnings replacement for contributors in cases of retirement, disability, or death.  In January…

3 min read

CRA Document Verification Process

The Canada Revenue Agency (CRA) announced the launch of its new document verification service as a new option for CRA users. This service will streamline the identity verification process for CRA sign-in services such as My Account, My Business Account, and Represent a Client, enabling users to register and gain immediate access to their…

2 min read

Cybersecurity: Safeguarding Your Sensitive Business Data

Cybersecurity is a critical concern for corporations in the digital era, particularly when sensitive financial data is involved. As business owners, it’s vital to understand the risks your data faces and how to work collaboratively with your trusted professionals and advisors to protect it. Here’s an essential guide tailored for corporate clients on securing your…

4 min read

Significant Update on NPO Accounting for Revenue

The Accounting Standards Board (the “Board”) is the entity that sets accounting standards in Canada, and it has made a pivotal decision regarding the future of accounting for contributions revenue for not-for-profit organizations (NPOs).  Contributions revenue includes items such as donations, grants, and government funding. Based on feedback from various outreach sessions and responses to…

2 min read