by Kevin HongShareholder Loans and the CRA
Many independent business owners dedicate a significant part of their time and effort into managing the operations of their business. Naturally, it is...
by Carolyn WongGST/HST Rules for the Supply of Digital Products or Services
The Government of Canada has proposed new measures surrounding the registration and collection and remittance of the goods and services tax / harmoniz...
by Kevin HongThe Taxation of Electric Vehicles
In recent years, Canada has experienced a significant increase in the adoption rate of ZEV (zero emission vehicle). According to Statistics Canada, el...
by Eric MillerThe Corporate Association Rules
If a Canadian-controlled private corporation (“CCPC”) is associated with one or more CCPCs, subsection 125(3) of the Income Tax Act (the ...
by James PendergastCRA Penalties and Interest: An Update
Many taxpayers are surprised to learn that the Canada Revenue Agency (“CRA”) can and does charge interest and penalties on the outstanding tax lia...
by Eric MillerDeducting Expenses from your Taxes
Income tax is nothing more than a tax on income. Income, on the other hand, is, for tax purposes, a complex concept that forms the basis of many tax d...
by Carolyn WongWhat is FAPI?
Foreign Accrual Property Income, or FAPI, are a set of rules in the Income Tax Act (the “ITA”) that treats property income the same as if accrued ...
by James PendergastWhat is a Taxable Benefit – Part 2
It may come as a surprise to some Canadian taxpayers when they receive a Notice of Assessment with reported income reassessed to be significantly high...
by Kevin HongIs Interest Paid on my Investments Deductible?
There is a proverbial expression that goes, “It takes money to make money”. When taken literally, this expression could be interpreted as the act ...
by James Pendergast