Canada: Year-end tax planning; post-election changes | KPMG | GLOBAL

Canada: Year-end tax planning; post-election tax changes expected for individuals

Canada: Year-end tax planning; post-election changes

With the year-end approaching, individual taxpayers in Canada may consider certain time-sensitive steps relating to opportunities for their 2015 taxes. Also, the newly elected federal government campaigned for certain tax changes—including rate increases for individual income tax—that can be expected in 2016.


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For instance, if the top income tax rate for individuals is increased in 2016 (as expected), taxpayers may consider accelerating income into 2015 to realize absolute tax savings. Similarly, individual taxpayers may give consideration to when they realize stock option gains, to accelerating payments of dividends to 2015, and to taking other steps.


Read an October 2015 report [PDF 416 KB] prepared by the KPMG member firm in Canada: Post-Election 2015 Personal Tax Savings—Act Fast

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