The Alternative Minimum Tax (AMT) is a tax system that ensures that high-income individuals pay their fair share of taxes. The Canadian government recently made changes to the AMT as part of the 2023 budget. In this blog post, we will discuss how these changes will impact donors of publicly listed securities. Background on AMT The AMT was introduced in 1970 to...
Canada's Underused Housing Tax (“UHT”) is a new measure that was introduced by the federal government in 2021. Under the UHT, owners of such properties may be subject to an additional tax of up to 1% of the property's assessed value. The goal of this tax is to encourage owners to make better use of their properties and to increase...
In an effort to promote domestic travel and support local tourism, the government of Ontario has announced a Staycation Tax Credit for Ontarians. The credit encourages Ontarians to explore the province's diverse tourism offerings while supporting local businesses hit hard by the pandemic. Here's everything you need to know about the Ontario Staycation Tax Credit. What is the Ontario Staycation Tax...
