Canada tax news
AskColm has 107 articles tagged Canada, drawn from over 130 tax sources. The most recent is dated 8 October 2026.
Showing the latest 50.
2027 Supply-managed TRQ applications now open (dairy, poultry, eggs)
Global Affairs Canada has opened the application period for 2027 Tariff Rate Quotas (TRQs) covering supply-managed goods including dairy, poultry, and eggs. This is a key window for importers to apply for preferential tariff access to these product categories.
Expiry review of small power transformers SIMA case
Canada Border Services Agency and the Canadian International Trade Tribunal are conducting a joint expiry review of a Special Import Measures Act (SIMA) case covering small power transformers, to determine whether the existing trade remedy measure will be rescinded or…
Recent Tariff Developments: Canada, IEEPA Refunds and Russian Energy
Recent tariff developments in the United States could affect importers, with new trade measures involving Canada, a further phase of the IEEPA refund process, and new rules relating to Russian energy trade.
CRA’s Automated Tax Filing Raises Audit Risk for Business Owners, Real Estate Investors, Crypto Traders, Cross-Border Filers, and High-Net-Worth Canadians
A tax lawyer has set out the audit risks that the Canada Revenue Agency's automated tax filing system creates for business owners, property investors, cryptocurrency traders, cross-border filers and high-net-worth Canadians.
Quebec Staffing Agency, Alpha et Omega Multiservices Inc., and its Director Fined Over $2.1 Million plus Jailed for Tax Fraud
A Quebec staffing agency, Alpha et Omega Multiservices Inc., and its director have been fined over $2.1 million and jailed following a tax fraud prosecution brought by the CRA and Revenu Québec. The case has implications for employer tax compliance.
Selling Your Business? The Tax Differences Between Selling Shares and Selling Assets for Canadians
Canadians selling a business face different tax outcomes depending on whether they sell shares or assets. Key considerations include the Lifetime Capital Gains Exemption, capital cost allowance recapture and the allocation of liability risks between buyer and seller.
Protecting taxpayer information: How the CRA prevents, detects, and addresses fraud
The Canada Revenue Agency outlines how it works to protect taxpayer information by preventing, detecting and addressing fraud, recognising the growing challenges posed by evolving digital threats to sensitive data.
CBP Issues Guidance on Import Prohibitions for Certain Canadian Products Pursuant to Presidential Proclamation 11061, 11062 and 11063
US Customs and Border Protection has issued guidance on import prohibitions for certain Canadian products, covering alcohol, dairy, and a third category, under Presidential Proclamations 11061, 11062 and 11063.
Canada Unveils Mega Deduction for Investment
Canada's federal government has proposed a Productivity Mega Deduction that would allow businesses to immediately deduct the full cost of eligible capital investments. Under the current system, tax relief on such investments is claimed gradually over several years. The new…
CITT’s final injury ruling on certain forged grinding media from China
The Canadian International Trade Tribunal has issued a finding of a threat of injury from the dumping and subsidising of certain truck bodies originating in or exported from China. The ruling follows a final determination by the Canada Border Services…
Canadian Trust's Tax Year Didn't End At Wind Up, Court Says
The Tax Court of Canada has ruled that the tax year of a Canadian trust that wound up shortly before the end of 2023 continued through to the end of the calendar year. As a result, new ownership reporting rules…
The CRA is enhancing security for online income tax and benefit return filing
The Canada Revenue Agency (CRA) is implementing enhanced security measures for online income tax and benefit return filing. These updates aim to better protect taxpayers' personal and financial information when submitting returns digitally. The changes reflect growing concerns around cybersecurity…
SIMA duties no longer payable on photovoltaic modules and laminates from China
Canada has removed Special Import Measures Act (SIMA) anti-dumping and/or countervailing duties on photovoltaic modules and laminates imported from China. This regulatory change directly affects importers and businesses in the solar energy sector, reducing the cost burden on Chinese-origin solar…
Provisional SIMA duties now payable on certain wheat gluten
Canada has imposed provisional Special Import Measures Act (SIMA) duties on certain wheat gluten imports, signaling an anti-dumping or countervailing duty investigation has reached the stage requiring provisional payment. Importers of wheat gluten must now account for these additional charges…
Trump Talks About New Tariffs if Canada Joins EU
President Trump has raised the prospect of imposing new tariffs on Canada if it were to join the European Union. The statement reflects ongoing trade tensions and signals potential escalation of customs duties affecting cross-border goods between the US, Canada,…
Canada implements new US counter-tariffs and doubles rates on most steel and aluminum products
Canada has introduced new counter-tariffs targeting US goods in response to ongoing trade tensions, while doubling existing tariff rates on most steel and aluminum products imported from the United States. The measures represent a significant escalation in retaliatory trade policy…
British Columbia brings professional services within PST from 1 October 2026
British Columbia is expanding its Provincial Sales Tax (PST) base to include professional services effective 1 October 2026. This represents a significant legislative change for service providers operating in the province, bringing previously exempt professional services within the scope of…
Canada’s surtax on U.S. imports just got a lot bigger: What CN26-23 means for your compliance program
Canada's CN26-23 notice significantly expands the surtax on U.S. imports, with major compliance implications for businesses. The update broadens the scope of goods subject to retaliatory tariffs, requiring importers to reassess their classification and compliance programs. Companies must review supply…
Canada’s steel surtax just doubled overnight
Canada has abruptly doubled its steel surtax, catching importers off guard and creating immediate compliance challenges. The overnight increase in retaliatory tariffs on steel products affects businesses importing U.S.-origin steel, significantly raising landed costs and disrupting procurement strategies. The sudden…
Full Expensing to Be Made Permanent in Canada
Canada is moving to make full expensing of capital investments a permanent feature of its tax code, allowing businesses to immediately deduct the full cost of eligible assets rather than depreciating them over time. This policy shift, previously introduced as…
CBP Issues CSMS Guidance on Section 338 Canada Duties
U.S. Customs and Border Protection has issued Cargo Systems Messaging Service guidance clarifying the application of Section 338 duties on Canadian imports. The guidance provides operational instructions for importers and customs brokers on how these tariff measures are to be…
Canada To Prioritize Advance Tax Rulings For $1B Projects
Canada's tax authority will prioritize processing advance tax rulings for large-scale investment projects valued at $1 billion or more. This policy shift is designed to provide greater certainty for major investors by expediting formal guidance on the tax treatment of…
Breaking Trade News: New Canada Tariffs, BIS Annual Report, Monthly Trade Report
Canada has introduced new tariffs, representing a significant customs and trade development for importers and exporters operating across the US-Canada border. The update also references the Bureau of Industry and Security (BIS) annual report and a monthly trade report, signaling…
Donating Appreciated Publicly Traded Securities to Charity
Donating appreciated publicly traded securities directly to charity offers a significant tax advantage for Canadian taxpayers: the capital gains inclusion rate is reduced to zero on such donations, meaning donors avoid capital gains tax entirely while still claiming a charitable…
The U.S. Trade War with Canada Escalates with Import Bans and More Products Subject to Section 338 Tariffs
The U.S.-Canada trade dispute has intensified with the expansion of Section 338 tariffs to additional product categories and the introduction of new import bans. Section 338 of the Tariff Act allows the U.S. to impose retaliatory duties on countries discriminating…
Why Builder Status Matters in CRA GST/HST Tax Audits
Canada's CRA applies specific GST/HST rules to individuals or entities classified as 'builders' under the Excise Tax Act, with significant implications for audit outcomes. Builder status determines whether GST/HST self-supply rules apply on newly constructed or substantially renovated residential properties,…
Canada imposes new surtaxes on certain U.S. goods and increases the surtaxes on U.S. steel and aluminum
Canada has introduced new surtaxes on certain U.S. goods while simultaneously increasing existing surtaxes on U.S. steel and aluminum imports. These measures represent a significant escalation in trade-related tariff actions between Canada and the United States, directly impacting importers and…
Canadian Tariffs on U.S. Products to Start Tuesday
Canada is set to impose retaliatory tariffs on U.S. goods beginning Tuesday, escalating trade tensions between the two countries. The measures represent a significant customs and trade policy development affecting cross-border commerce, supply chains, and importers on both sides of…
Canada: Expanding the Scope of Taxable Canadian Property
Canada is broadening the definition of Taxable Canadian Property (TCP), which determines when non-residents are subject to Canadian capital gains tax on dispositions. The expansion increases the range of property interests caught by TCP rules, with implications for foreign investors…
Canada implements new counter-tariffs on U.S. goods, details strict remission process
Canada has introduced counter-tariffs on U.S. goods in response to ongoing trade tensions, alongside a strict remission process for affected importers. The remission mechanism allows businesses to seek relief from the counter-tariffs under specific conditions, though the process is described…
Provisional SIMA duties now payable on certain steel racks from China
Canada has imposed provisional Special Import Measures Act (SIMA) duties on certain steel racks imported from China. These provisional duties are now payable, reflecting a determination that the imported goods may be causing or threatening material injury to domestic producers…
The Real Cost of Going to Tax Court: What Canadian Taxpayers Should Know Before Appealing
This article outlines the practical and financial costs Canadian taxpayers face when appealing a tax assessment to the Tax Court of Canada. It covers the two procedural tracks available—the Informal Procedure and the General Procedure—explaining their differing cost structures, legal…
Canada implements new tariff treatment for UK goods eligible under CPTPP
Canada has implemented new tariff treatment for goods originating from the United Kingdom that are eligible under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This development affects importers and exporters trading between Canada and the UK, altering the…
How are Ponzi Scheme Payments Taxed in Canada: Taxable Income, Investment Fraud, or Return of Capital?
This article examines the Canadian tax treatment of payments received from Ponzi schemes, addressing the complex question of whether such receipts constitute taxable income, investment fraud losses, or a return of capital. Canadian taxpayers who participate unknowingly in fraudulent investment…
Loss from Cryptocurrency Fraud Accepted as Non-Capital Loss
A tax ruling has accepted that losses arising from cryptocurrency fraud qualify as non-capital losses rather than capital losses. This distinction is significant for taxpayers as non-capital losses can be deducted against ordinary income, providing greater tax relief compared to…
U.S.-Canada Tariff Escalation: New Section 338 Tariffs and Canadian Retaliatory Tariffs
This article examines the escalating tariff dispute between the U.S. and Canada, focusing on new Section 338 tariffs imposed by the United States and Canada's retaliatory tariff measures. The piece covers the legal basis for the tariffs, the specific goods…
US‑Canada Trade War Deepens as Trump Revives Depression‑Era Trade Tool – What’s at Stake for Consumers and the Midterms
The escalating US-Canada trade war has taken a significant turn as the Trump administration revives Depression-era trade mechanisms to impose tariffs and trade restrictions against Canada. The measures, rooted in historical protectionist legislation, are raising costs for consumers on both…
Canada Finalizes List of Products Subject to Retaliatory Labor Day Tariffs
Canada has finalized its list of products subject to retaliatory tariffs set to take effect on Labour Day. The move represents Canada's countermeasures against trading partner tariff actions, imposing additional customs duties on specified imported goods. Practitioners handling cross-border trade…
Canada announces new counter-tariffs on U.S. imports effective September 8, 2026
Canada has announced new counter-tariffs on U.S. imports set to take effect September 8, 2026, representing a significant escalation in trade tensions between the two countries. The retaliatory measures follow ongoing disputes over U.S. tariff policies affecting Canadian goods. Importers…
BREAKING: Canada To Hit US With Retaliatory Tariffs, 'Dollar For Dollar'
Canada has announced retaliatory tariffs against the United States on a dollar-for-dollar basis in response to US trade measures. The move escalates the trade dispute between the two countries and carries significant customs and trade tax implications for businesses operating…
Provisional SIMA duties now payable on certain decorative and other non-structural plywood from China
Canada's Special Import Measures Act (SIMA) provisional duties are now payable on certain decorative and non-structural plywood imported from China. This regulatory update from the Canada Border Services Agency affects importers sourcing these wood products from China, requiring them to…
CBSA concludes administrative review of UDS SIMA case
The Canada Border Services Agency (CBSA) has concluded an administrative review of the Utility Distribution Structures (UDS) Special Import Measures Act (SIMA) case. Administrative reviews under SIMA reassess the dumping margins or subsidy amounts applied to specific exporters or importers,…
Trump Threatens 50% Tariffs On Canadian Vehicles, Steel
President Trump has threatened to impose 50% tariffs on Canadian vehicles and steel imports, escalating trade tensions between the US and Canada. The proposed tariffs would significantly increase import costs for Canadian automotive and steel products entering the US market,…
CBSA clarifies process for importing TRQ goods into Customs Bonded Warehouses
The Canada Border Services Agency (CBSA) has issued clarification on the process for importing tariff rate quota (TRQ) goods into customs bonded warehouses. This guidance addresses how importers can store TRQ-eligible goods in bonded facilities while managing quota allocations and…
Paper (Diaper) Tiger? “Trump Vows to Double Tariffs on Canadian Autos, Escalating Fight”
Trump has threatened to double tariffs on Canadian automobiles, escalating trade tensions between the US and Canada. The proposed measure would significantly increase import duties on Canadian-made vehicles entering the US market, building on existing tariff disputes. This development has…
Section 338 Additional Duties Go Into Effect After U.S. and Canada Negotiations Suspended; Canada Retaliates With Post-Labor Day Tariffs Announcement
Section 338 additional duties have taken effect following the suspension of U.S.-Canada trade negotiations. In response, Canada has announced retaliatory tariffs set to begin after Labor Day. The escalating trade dispute marks a significant development in cross-border customs and trade…
Canada to Add Equal Tariffs on U.S. Goods as Trade War Heats Back Up
Canada has announced plans to impose retaliatory tariffs on U.S. goods matching American tariff rates, escalating the ongoing trade war between the two countries. The move signals a significant development in cross-border trade policy, with Canadian authorities responding in kind…
Now in effect: 50% U.S. tariff on certain Canada-origin goods
A 50% U.S. tariff has come into effect on certain goods originating from Canada. This significant customs duty increase directly impacts importers and exporters trading across the U.S.-Canada border, affecting supply chain costs and trade compliance obligations. Businesses importing Canadian-origin…
Subsection 55(2) of the Income Tax Act : The Anti-Avoidance Rule, Deliberate Triggering for the CDA, and the Bill C-59 GAAR Overlay
This article examines subsection 55(2) of Canada's Income Tax Act, an anti-avoidance provision targeting corporate dividend stripping transactions that could otherwise convert capital gains into tax-free intercorporate dividends. It explores the rule's application, including scenarios where taxpayers deliberately trigger it…
Salehi v The King: HST Risks for Homebuilders and Home Sellers
The Canadian tax case Salehi v The King examines HST (Harmonized Sales Tax) exposure for homebuilders and individuals who sell newly constructed or substantially renovated homes. The case highlights risks where sellers fail to self-assess and remit HST on the…