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 Jason RosenT1135 Discretionary Penalties
Over the past decade, the Tax Court of Canada (TCC) has gradually carved a role for itself to decide whether to penalize Canadians who fail to file th...
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 James PendergastThe CRA Audit Process
Canada has a self-reporting tax regime, meaning that Canadians are responsible for accurately reporting their taxes payable to the federal government ...
by Kevin HongAccommodation Sharing
Recently, many Canadians have been looking to get away from the city and enjoy more spacious living due to the imposed lockdowns. As such, individuals...
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 Jason RosenHow Real Estate Agents can Incorporate a Company
On October 1, 2020, the Real Estate and Broker’s Act includes regulations which permit the use of Personal Real Estate Corporations (PRECs). Based o...
by Eric MillerThe Advantages of a Holding Company
There are numerous ways in which holding corporations can be advantageous to taxpayers. As this post illustrates, holding corporations may be used to ...
by Kevin HongInput Tax Credits – What are they, and Am I Eligible?
Through the help of e-commerce assistance platforms such as Shopify, the barriers to entering and starting a small business have dramatically decrease...
by James Pendergast