Taxes

CRA updated several administrative policies in respect of employment benefits, effective January 1, 2022. Two of the key changes relate to employee gifts and [...]

A November 25, 2022 French Tax Court of Canada case considered whether a taxpayer’s poker activity constituted a source of business income and therefore [...]

It's important to keep your address up to date with the CRA to ensure you receive important tax-related correspondence and to avoid any potential delays in processing your tax returns. Find out How to update your address with the CRA

December 31, 2022 is fast approaching… see below for a list of tax planning considerations. Please contact us for further details or to discuss [...]

New tax legislation is being enacted which requires increased tax reporting for existing trusts and will create filing requirements for other trusts which are [...]

Tax Possibilities – Bad Debt Write-off As many businesses are struggling to collect outstanding amounts, it may be worthwhile to identify any receivables which have [...]

Where the supplier is providing goods or services to an NPO in exchange for advertising and/or promotional services, a barter transaction may have occurred. As such, the typical rules for barter transactions would apply.

In general, gains are fully taxable where the taxpayer buys a property with the intention to sell for a profit (sold on “account of income"). In other cases, half the gain is taxable (sold on “account of capital”). When a sale on “account of capital” involves the sale of a principal residence, the tax may be reduced or eliminated by using the principal residence exemption.

Tips received by servers and other individuals in the service industry are taxable. However, since tips do not show up on T4 slips, some taxpayers are under the false understanding that they are either not taxable, or only partially taxable.

A taxpayer can operate a business while collecting EI benefits where his business activity is to such a minor extent that a person would not normally rely on that business activity as a principal means of livelihood.