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RRSP Home Buyers Plan
October 22nd, 2015 by Robert Smith
When two or more eligible individuals jointly purchase a home, the credit may be shared but the total credit amount claimed cannot exceed $5,000. In addition to the HBTC, first time home buyers are also eligible for the Home Buyer’s Plan (“HBP”). This is a program that allows you to withdraw up to $25,000 in a calendar year from your registered retirement savings plans (RRSP) to buy… Read More »
Proposed Amendments to The Taxation of Goodwill on The Sale of Eligible Capital Property
October 15th, 2015 by Gemma Brown
In the 2014 federal budget, the Federal government announced they would conduct consultations regarding “eligible capital property” (“ECP”). This is the category of business assets that includes goodwill and certain licences, franchises and quotas. On the sale of a Canadian controlled private corporation under the current tax rules, eligible capital property assets are not treated as regular depreciable property. Instead, half of the value ascribed… Read More »
