Category: Laws

Understanding Beneficial Ownership Transparency: New ISC Reporting Requirements in Canada

Post author By boiarskibusinesslaw
Post date June 24, 2024
Categories In Canada Business Corporations Act, Laws

Introduction Recent amendments to the Canada Business Corporations Act (CBCA) have introduced significant changes to beneficial ownership transparency in Canada. As of January 22, 2024, private CBCA corporations must submit information on Individuals with Significant Control (ISCs) to Corporations Canada, with certain details being made publicly available through a free registry. These reforms align Canada […]

Changes to the Capital Gains Inclusion Rate: What You Need to Know

Post author By boiarskibusinesslaw
Post date June 10, 2024
Categories In Capital gains tax, Federal Budget, Income Tax Act, Laws

Introduction On June 11, 2024, the federal government provided further clarification on the upcoming changes to the capital gains inclusion rate, first announced in the 2024 federal budget (Budget 2024). Effective June 25, 2024, the inclusion rate for capital gains will increase from 50% to 66.7% for individuals, trusts, and corporations. This change has significant […]