Author: Bhavika Chadha

by Bhavika Chadha

Understanding the Tax Implications of House Flipping in Canada

House flipping has become a popular way for many Canadians to invest in real estate. The concept is simple: buy a residential property, renovate it, a...

by Bhavika Chadha

Late Tax Return Penalties Canada

Filing your tax return on time in Canada is more than just a formality, it can have significant financial consequences if missed. The Canada Revenue A...

by Bhavika Chadha

Failure to File T1135: Consequences and How to Fix It

The T1135 – Foreign Income Verification Statement is a key tax compliance form required by the Canada Revenue Agency (CRA) for Canadian residents wh...

by Bhavika Chadha

Reassessment Period CRA: What Every Taxpayer Should Know

When the Canada Revenue Agency (CRA) issues a Notice of Assessment, many taxpayers assume their tax affairs for that year are settled. However, the CR...

by Bhavika Chadha

Bare Trusts – Demystifying T3 Filing Requirements

In recent years, Canada has introduced sweeping changes to trust reporting obligations, significantly affecting various trust structures—including b...

by Bhavika Chadha

How a GST Elimination on New Homes Could Affect the Existing Housing Rebate Framework

In wake of the recent federal election, Prime Minister Carney’s platform placed a greater focus on eliminating the Goods and Services Tax (GST) for ...

by Bhavika Chadha

MEGLobal Canada ULC v. The King: Jurisdiction for Tax Appeals

When a taxpayer disagrees with a decision made by the CRA and they have exhausted their right of appeal with the CRA Appeals Division (or has elected ...

by Bhavika Chadha

Taxpayer Bill of Rights Canada: Rights and Protections

The Taxpayer Bill of Rights is an essential framework designed to protect Canadian taxpayers when dealing with the Canada Revenue Agency (CRA). Unders...

by Bhavika Chadha

Tax Repayment Plans: Navigating Options with the CRA

Dealing with tax debt can be overwhelming, especially when you’re faced with mounting interest and penalties. If you owe money to the Canada Revenue...

by Bhavika Chadha

Capital Loss Carryforward: Maximizing Tax Benefits

Managing investments can be financially rewarding, but not every investment yields positive returns. Sometimes, you may sell an asset for less than it...