by Bhavika ChadhaTax Implications of Selling Your Principal Residence in Ontario
Under section 54 of the Income Tax Act (the “Act”), a principal residence is generally defined as a housing unit (including leasehold interest or ...
by Bhavika ChadhaNavigating the CRA Objection Process: What Every Taxpayer Should Know
If you have received a decision, Notice of Assessment, Reassessment, or Determination from the Canada Revenue Agency (“CRA”), filing a Notice of O...
by Bhavika ChadhaUnderstanding 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 ChadhaLate 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 ChadhaFailure 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 ChadhaReassessment 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 ChadhaBare 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 ChadhaHow 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 ChadhaMEGLobal 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