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Changes to the Voluntary Disclosures Program (VDP) Effective October 1, 2025: What Taxpayers Need to Know
The Canada Revenue Agency (CRA) is implementing significant changes to the Voluntary Disclosures Program (VDP) effective October 1, 2025. The VDP is designed to encourage taxpayers to come forward and correct past errors or omissions in their tax filings, offering relief from penalties and, in some cases, interest. The new rules aim to make the program more accessible, transparent, and fair, while maintaining the integrity of the tax system.
Dimitrios Zaravinos
Sep 16
The “Revenge Tax” is Dropped from the One Big Beautiful Bill Act
Last week, the House gave final approval to Trump’s One Big Beautiful Bill Act. However, Congressional Republicans agreed to remove the so-called “revenge tax” provision.
Dimitrios Zaravinos
Jul 9
One Big Beautiful Bill (the Bill)
The House and Senate passed the reconciliation bill, “One, Big, Beautiful Bill” (“the Bill”), on July 3, 2025, which was signed by President Donald Trump on July 4, 2025. The Bill incorporates the tax cuts promised by U.S. President Donald Trump during his campaign.
One Big Beautiful Bill Act May Be Hiding a Tax Hit for Foreigners
The U.S. House of Representatives recently passed H.R. 1, the “One Big Beautiful Bill Act”. How the Proposed Changes Might Impact Canadians
Trowbridge
Jun 4
Thinking of Flipping a Property in Canada? Here’s What You Need to Know About the Tax Rules
Thinking of flipping and selling a property within a year? The anti-flipping tax rules could quickly turn your profit into a tax liability. What was once a popular real estate strategy now comes with strict tax consequences. Without careful planning, you might end up handing over more to the CRA than expected.
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