TaxMatters@EY – May 2015
Building a better working world means understanding your tax situation and how the ever-changing global tax landscape affects you. TaxMatters@EY is a monthly Canadian bulletin that summarizes recent tax news, case developments, publications and more.
The federal budget tabled on 21 April 2015 proposed to increase the annual contribution limit for tax-free savings accounts from $5,500 to $10,000 per year. The ministers of finance and national revenue recently issued a joint statement announcing that individuals can immediately benefit from the proposed increase in the 2015 contribution limit.
The May issue also features:
- Succession planning considerations for family business owners
- A recent Tax Court of Canada decision that allowed shop-floor innovations to be eligible for scientific research and experimental development (SR&ED) tax incentives
- EY tax advisors' perspectives on innovation and the SR&ED program
- Highlights from EY's outlook for global tax policy in 2015
You’ll find all this and more in this edition of TaxMatters@EY.