Commentary

  • ON – Province provides details of pre-budget consultation process

    The Ontario Ministry of Finance has provided details of the 2011-12 budget consultation process which was announced last fall. In order to provide Ontario residents with increased opportunities for participation, the Minister of Finance will be hosting pre-budget “telephone town halls” in a number of locations across the province. The telephone town halls will combine […]

  • ON – 2011 personal tax income brackets, rates and credits posted online

    The Ontario Ministry of Revenue has posted the personal income tax brackets, personal tax rates, surtax rates and thresholds, and personal tax credit amounts which will apply for the 2011 tax year on its Web site at http://www.rev.gov.on.ca/en/tax/pit/rates.html. For 2011, all personal non-refundable credit amounts are to be converted to credits which reduce provincial tax […]

  • ON – Tax Information Forums to be held by Ministry of Revenue in spring 2011

    The Ontario Ministry of Revenue has announced the dates and locations of Tax Information Forums (TIFs) to be held during the months of March, April, and May at locations throughout the province. The TIFS, which are held jointly by the Canada Revenue Agency and the Ontario Ministry of Revenue, allow Ontario businesses to obtain information […]

  • ON – 2011-12 Budget to be brought down March 29, 2011

    The provincial budget for the 2011-12 fiscal year will be brought down on Tuesday March 29, 2011 by Minister of Finance Dwight Duncan. It is expected that once the budget is announced, budget documents will be available on the Ontario Ministry of Finance Web site at http://www.fin.gov.on.ca/en/. The announcement of the budget date can be […]

  • ON – Interest Rates—2011

    The province of Ontario charges and pays interest on underpayments and overpayments of tax at rates prescribed by statute and set at the beginning of each calendar quarter. The chart below sets out the rates charged and paid for in the first half of 2011. Effective Interest Rate (%) Overpayments Underpayments IFTA From To General […]

  • ON – No tax rate changes in 2011-12 fiscal year budget

    In the province’s 2011-12 fiscal year budget brought down on March 29, the Ontario Minister of Finance announced that the province’s deficit for the 2010-11 fiscal year ending March 31, 2011 would be $16.7 billion, or $3 billion lower than forecast in last year’s budget. The change was attributed mainly to decreases in program expenditures. […]

  • ON – Online access to tax services for Ontario businesses

    The Ontario government provides an online tax service known as ONT-TAXS for Ontario businesses. Using ONT-TAXS, such businesses can: file tax returns for Employer Health Tax, Fuel Tax, Gasoline Tax, International Fuel Tax Agreements, Tobacco Tax, and Beer and Wine Tax accounts; make tax payments; view up to four years of account history; update account […]

  • ON – Province issues updated Employer Health Tax bulletins

    The Ontario Ministry of Revenue has issued three updated bulletins dealing with the province’s Employer Health Tax. The first, available at http://www.rev.gov.on.ca/en/bulletins/eht/0903.html, outlines the types of employers to which the annual filing requirement and the instalment payment requirement apply, the second, which can be found at http://www.rev.gov.on.ca/en/bulletins/eht/0298.html, deals with the application of the tax exemption […]

  • ON – Province issues sales tax credit benefit for second quarter of 2011

    The Ontario government has issued sales tax benefit cheques to eligible taxpayers for the second quarter of 2011. In order to receive the quarterly benefit of up to $65.00, eligible taxpayers must have filed a 2009 tax return. A listing of the dates on which this and other provincial tax benefits will be paid throughout […]

  • ON – Updated bulletins issued on application of HST

    The Canada Revenue Agency (CRA) has issued two new bulletins dealing with the application of harmonized sales tax in the province. The first (GI-098), which outlines the application of the tax to resales of new housing, is available at http://www.cra-arc.gc.ca/E/pub/gi/gi-098/gi-098-e.pdf, and the second (GI-074), which deals with HST and prepaid funeral, cemetery, and interment arrangements, […]