1. For those of you with a will, dramatic tax changes will be implemented in 2016 affecting how your estate and the resulting testamentary trust will be taxed. Donations by your estate will be treated very differently as well.
2. It is now possible to split income with your spouse. This initiative can help you to save thousands in taxes potentially.
3. New Scientific Research and Experimental Development (SRED) rules have been introduced. The new rules can potentially restrict eligibility for SRED tax credits. Find out how you can continue to qualify for the maximum SRED tax credits.
4. In some situations, even professionals offering health care services can claim HST refund.