by James Pendergast
What is Taxable Income?
In Canada, regular taxpayers are taxed by both the federal government and the province or territory in which they reside on December 31st of the tax y...
by Jason Rosen
CRA Moving to Electronic Notices of Assessment in 2023
On February 18, 2022, the CRA announced that beginning in 2023, they intend on providing electronic Notice of Assessments and Reassessments for taxpay...
by James Pendergast
Allowable Business Investment Loss Claims
An allowable business investment loss (“ABIL”) is a special type of capital loss that is deductible against all sources of income. This is differe...
by Jason Rosen
The New 15% Global Minimum Tax Rate for Corporations
The Organization for Economic Cooperation and Development (OECD) has released their long-awaited Pillar Two model rules on December 20, 2021, marking ...
by Jason Rosen
CRA Review of Corporate Travel Expenses
The Canada Revenue Agency (the “CRA”) conducts regular reviews of corporate tax returns. As part of a new group project, the CRA is focusing on co...
by Tyra Yah
The Home Buyers’ Plan and the CRA
The Home Buyers’ Plan (“HBP”) is a program that allows qualified first-time home buyers (the definition for which can be found below) to withdra...
by Jason Rosen
Canada’s Emergency Rent Subsidy
The Canada Emergency Rent Subsidy (“CERS”) was introduced on November 19th, 2020. The CERS subsidizes commercial real estate expenses incurred by ...
by James Pendergast
What Happens to an RRSP Upon Death?
To put it rather simply, a Registered Retirement Savings Plan (“RRSP”), is a tool created by the Government of Canada designed to help individuals...
by Jason Rosen
What Happens If I Over-Contribute To My TFSA?
The Tax Free Savings Account (“TFSA”) is a way for individuals who are 18 years of age or older, have a valid social insurance number, and are tax...
by James Pendergast