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Changes to RESPs and RDSPs are included in the legislation, as well as leeway to increase the CDIC limit

House of Commons in Ottawa

Here’s the status of tax proposals that matter to your clients

Here's the status of tax promises and proposals that matter to your clients

Parliament Hill in Ottawa - Ontario, Canada

First home savings account, anti-flipping rule are now law as Bill C-32 passes

parliament hill

Here’s the status of proposals that matter to your clients

Close up of businesswoman using calculator while going through financial bills.

ETF investors' tax bills for the 2022 tax year could be higher than under the previous formula

Bill C-32 delays enhanced reporting requirements for trusts, but would implement a new tax credit, the surtax on banks and insurers, and more

The 12-month holding period would reset after the taxpayer took ownership of property

The update did not provide details on measures set to take effect soon

New rules lower the bar for reporting aggressive tax-planning techniques