Resources
Successful financial management and planning are founded on accurate and up to date information. Here are some links to the latest tax news and publications that we find particularly useful. If there’s something you don’t see here, or you have any questions, we are just a phone call or email away.
To use the resource table, simply select a subject that interests you.
UHT-2900 Underused Housing Tax Return and Election Form
Many private Canadian corporations, trusts and partnerships will be exempt from the tax, but must still file the return (UHT-2900 Underused Housing Tax Return and Election Form), in order to claim their exemption.
The penalties for affected owners for non-filing are a minimum of:
- $5,000 per individual per property, or
- $10,000 for non-individuals
- In addition to the minimum above penalties, add:
- 5% of the tax calculated for the calendar year, plus
- 3% of the tax calculated multiplied by the number of complete months that the return is late.
If you are in the business of constructing and selling residential houses, you are still required to complete a UHT return if you owned the property as of December 31, 2022. However, tax exemptions may apply under specific conditions related to the property’s completion date and sale status.
2024 Federal Budget Commentary
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Statement of Business Activities
This is used to calculate your business or professional income as a self-employed person. Use it if you are the... Read More
Statement of Real Estate Rentals
This form is used by rental property owners to report their rental income and expenses for income tax purposes. --... Read More
Bare Trusts are exempt from filing T3 Trust Income Tax Returns
To support ongoing efforts to ensure the effectiveness and integrity of Canada’s tax system, the Government of Canada introduced new... Read More
2023 Tax Time Helpful Resources
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Work Space In-Home Expenses
You can deduct expenses for the business use of a workspace in your home, as long as you meet one... Read More