DFK Tax Digest 2024 Issue One

Changes to the Alternative Minimum Tax: What Should You Expect for 2024 and Onwards?

By Émilie Tremblay, GGFL
Please note that changes to the Alternative Minimum Tax are expected to become effective at the beginning of 2024 but have not been enacted as of the date of this tax news release. Draft legislative proposals were released for public consultation on August 4, 2023, but have not received royal assent as of the date of the release of this article. The government’s release of legislation in November 2023 excludes any changes to the AMT proposals that were previously expected to be enacted for January 1, 2024.
What is Alternative Minimum Tax (AMT)?
AMT was introduced in 1986 in the Canadian tax system as a supplementary method for computing Canadians’ income tax obligations….


GST/HST Implications in Canada’s Evolving Healthcare Landscape

By Nathan T. Sheppard, CD, BBA, CPA Kingston Ross Pasnak LLP

In the ever-evolving landscape of healthcare in Canada, the proposed amendments to the exemption provisions of Excise Tax Act (ETA) Schedule V, Part II, found in Bill C-59, have sparked further discussions within the industry. The inclusion of “psychotherapy” and “counselling therapy” in the list of exempt services provides an opportune moment to delve into the potential Goods and Services Tax/Harmonized Sales Tax (GST/HST) implications that healthcare professionals may encounter.

GST/HST risks become more pronounced when there is a combination of taxable supplies and exempt supplies. To understand these implications, it’s crucial to differentiate between medical services that are exempt and those that constitute taxable supplies….


What’s New with the Canada Pension Plan (CPP) Enhancements

By Chris Arsenault, CPA, CA, Partner Tax Services, MRSB Chartered Professional Accountants

The Government of Canada implemented the “CPP Enhancement” effective January 1, 2019. One of the main focuses of the CPP Enhancement is to provide greater financial stability later in life, but it requires an increase to current premiums for both employees and employers as well as self-employed persons.

The CPP Enhancement has been structured as a top up to the existing CPP and not an additional benefit.

The CPP now consists of…



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