DFK Tax Digest
2022 Issue Two
In this DFK Tax Digest – 2022 Issue Two:
- Electric Vehicle Rebates for Consumers & Businesses – With the high price of gasoline, the COP26 UN Climate Change Conference, and the recent natural disasters in BC fresh in everyone’s mind, many consumers may be considering purchasing an electric vehicle (EV). Find out more about the Manufacturer’s Suggested Retail Price (MSRP) incentive rebate.
- Disposition of Capital Property – Failure to Report at Fair Market Value – TBD – a recent Tax Court of Canada ruling has broad implication for transactions involving the disposition of capital property, including estate freeze transactions. Read on to why it’s important for taxpayers to seek independent valuation advice.
- Making Housing More Affordable – In the 2022 Budget, a number of measures such as personal income tax changes, and funding for a variety of housing programs intended to make housing more affordable for Canadians. Explore the new Tax-Free First Home Savings Account and Multigenerational Home Renovation Tax Credit along with an increase in the Home Accessibility Tax Credit and the First-Time Home Buyers’ Tax Credit.