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TAX TICKLERS… some quick points to consider…
- Access to the Canada Emergency Wage Subsidy (CEWS), Canada Emergency Rent Subsidy(CERS) and Canada Recovery Benefits has been extended to October 23, 2021.
- A recent poll of millennials (aged 25 to 40) found that the top reasons for creating an estate plan were: having a child (38%), the pandemic (17%), general life planning (13%), buying a home (6%), death in the family (6%), marriage or divorce (6%), travelling (4%), and chronic illness/medical issue (3%).
- The U.S. has recently stated that it intends to spend $80 billion over ten years to address “sophisticated tax planning.”
- As of July 1, 2021, GST/HST applies to all platform-based short-term accommodations in Canada (such as those on Airbnb and VRBO).