TAX TICKLERS… some quick points to consider…

Access to the Canada Emergency Wage Subsidy (CEWS), Canada Emergency Rent Subsidy (CERS) and Canada Recovery Benefits has been extended to October 23, 2021. A recent poll of millennials (aged 25 to 40) found that the top reasons for creating an estate plan were:

  • having a child (38%), the pandemic (17%), general life planning (13%), buying a home (6%), death in the family (6%), marriage or divorce (6%), travelling (4%), and chronic illness/medical issue (3%).
  •  The U.S. has recently stated that it intends to spend $80 billion over ten years to address “sophisticated tax planning.”
  •  As of July 1, 2021, GST/HST applies to all platform-based short-term accommodations in Canada (such as those on Airbnb and VRBO).

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