Virtus Insights

stethoscope with calculator
Understanding the Medical Expense Tax Credit
What It Is The medical expense tax credit is a non-refundable tax credit that allows you to reduce the income tax you owe. It covers a wide range of medical expenses for you, your spouse or common-law partner, and your dependent children under 18. Eligible Expenses How to Claim Considerations Conclusion Leveraging the medical expense...
Transform your business with finance automation
(authored by RSM CANADA) Understand finance automation, its five stages and the four steps necessary for digital transformation.
Saskatchewan legislature building
Saskatchewan Provincial Budget 2024-2025 Commentary
On March 20, 2024, Saskatchewan Minister of Finance, Donna Harpauer, released the 2024-2025 provincial budget. The new budget contained a number of spending initiatives but few tax changes. We’ve detailed some of the new tax incentives and their impact on business owners in the province. Minimal tax changes, emphasis on spending There were no new...
Farmer in John Deere combine harvesting field at dusk
AgriStability Program Overview: Is it Right for Your Farm?
Canadian farmers face unpredictability in all operational aspects, such as volatile markets and weather extremes. Navigating this unpredictability requires strong management and robust support systems. AgriStability is one of those key support systems that can provide a level of stability to help Canadian farmers navigate the challenges they face. The program was designed to help...
Subsequent corrections for customs: A customs policy change
(authored by RSM CANADA) CBSA revises policy on subsequent corrections to declarations of origin, tariff classification or value for duty.
Canadian-tax-filing-and-payment-deadlines-for-middle-market-taxpayers-for-2024
Canadian tax filing and payment deadlines for middle-market taxpayers for 2024
(authored by RSM CANADA) RSM Canada has summarized the key tax filing and payment deadlines for middle-market taxpayers. Read the article to know more and simplify tax filing.
New mandatory system for Canadian importation
(authored by RSM CANADA) The CARM system will become mandatory on May 13th, 2024 for commercial import shipments.
Navigating oil and gas consolidation: Insights for middle market companies
(authored by RSM CANADA) As oil and gas sector consolidation surges, we share insights for middle market energy companies.
Federal government denies expenses on short-term rentals
(authored by RSM CANADA) Canada's continued housing crisis has prompted the Federal government to introduce new measures to disincentives short-term rentals.
Expanded trust reporting rules
Expanded Trust Reporting Rules
The CRA wants more information about more types of Trusts -including those you might not even know you have As we have written about in the past, the CRA has expanded the tax reporting regime for Trusts. The rules are in effect for Trusts with years ending December 31st, 2023 or later, so the initial...