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What the 2025 Budget Means for Mining Issuers and Investors February 25, 2025 Quebec’s March 25, 2025 budget fundamentally reshaped the province’s flow-through share (FTS) regime, significantly altering the economics of FTS financings and the after-tax returns available to investors. With the 2026 tax reporting season underway and transitional relief now expired, mining companies, public

From Courtroom Expansion to Legislative Contraction: BC Aligns the Mining Exploration Tax Credit with Federal Rules Prepared by McGovern Hurley LLPFebruary 20, 2025 In light of the release of the 2026 British Columbia provincial budget on February 18, 2026, we are providing an important update on the BC Mining Exploration Tax Credit (BC METC) and its

Navigating the New Divide Between CEE and the BC METC Prepared by McGovern Hurley LLPFebruary 18, 2025 Background Both the federal Canadian Exploration Expense (CEE) regime under the Income Tax Act and the British Columbia Mining Exploration Tax Credit (BC METC) require that qualifying expenditures be incurred for the purpose of determining the existence, location,

2025 Federal Budget Review Prepared by McGovern Hurley LLP November 10, 2025 Introduction and Fiscal Overview On November 4, 2025, Finance Minister François-Philippe Champagne tabled the first federal budget under Prime Minister Mark Carney’s government, entitled “Building Canada Strong.” This budget was presented amid global economic uncertainty, domestic affordability challenges, and a strategic effort to

Our very own Jessica Glendinning, 2025 Chartered Professional Accountants of Ontario Fellow! Jessica Glendinning, Partner and Audit Leader at McGovern Hurley LLP, has been selected as a 2025 Fellow of the Chartered Professional Accountants of Ontario (FCPA). An FCPA is the highest honor that may be bestowed upon a CPA, celebrating exemplary leaders who have

The Finance Minister Chrystia Freeland delivered the 2024 federal budget on April 16, 2024. Unprecedented changes were made with respect to the capital gain inclusion rate. The capital gain inclusion rate is proposed to be increased from 50% to 66 2/3%. The following is a summary of some of the most significant announcements contained in

On March 28, 2024, the Canada Revenue Agency announced that it will no longer require bare trusts to file a T3 trust return, including Schedule 15 (Beneficial Ownership Information of a Trust), for the 2023 tax year, unless the CRA makes a direct request. https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html For more information the team here at McGovern Hurley LLP

In a previous article (linked here), we discussed the introduction of the long-awaited new trust reporting rules, which will come into effect for trusts with taxation years ending on or after December 31, 2023. Due to the change in reporting requirements, many trusts that were not required to file a trust return in previous years

Do the new reporting requirements apply to you? Are you the trustee of a personal trust, family trust, testamentary estate, or any other type of trust? Do you own investments or real property on behalf of someone else?Either held personally or through a corporation, partnership, or other trust. Are you a Power of Attorney on

What is the FHSA? The federal government has introduced the First Home Savings Account (FHSA) as a savings tool to help future home buyers with the purchase of their first home. The FHSA is similar to a Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP). Like a TFSA, withdrawals made are on a