Canada Tax Changes that Will Come into Effect in 2024
Some important tax rule changes will take place in 2024 that may affect you as an employee or an employer. The amount you owe in taxes will directly change as a result of these changes.
Let’s dive in to know these key changes.
Tax Technology Trends in 2023 and Beyond
The rapidly evolving accounting and taxation industry is adapting to new technology trends but you need to be proactive to stay ahead of the competition. The recent advent of generative artificial intelligence (AI) tools needs a robust response from the tax function as well. The complexity of the tax function combined with the adoption of the latest tech trends means tax professionals are becoming strategic partners.
Why should you read The Z-Book?
This book is designed to give an overview of the SR&ED Program of the Canadian Tax Credits & Refunds System to the busy executive and the business owner/manager. In order to keep the Canadian businesses competitive in the present global market, the Canadian government offers one of the most generous incentives to Canadian businesses to encourage them to engage in scientific research and experimental development (SR&ED). It is also available to foreign corporations conducting SR&ED in Canada. It is estimated that only a very small fraction of those eligible actually apply for this credit. It is also estimated that in the last fiscal year tax credits running into billions of dollars were approved, including refunds to eligible businesses. There is no upper limit set by the Government as to the amount of tax credits it is willing to give to eligible businesses with regard to SR&ED.
*Note: This book was released in 2011 and laws change over time. Seek professional advice.
