by James PendergastCanada’s Luxury Goods Tax
On August 10, 2021, the Government of Canada announced that it would be introducing a new tax on Select Luxury Goods (also known as the Luxury Tax), w...
by Jason RosenWhat is Rental Income in Canada?
Rental income is the money or value you receive when you rent out property that you either own, or have the use of. The property may be yours wholly, ...
by James PendergastWhat 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 RosenCRA 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 PendergastAllowable 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 RosenWhat is GST/HST?
What is the GST/HST? The Goods and Services Tax (GST) is a tax that applies to most supplies of goods and services made in Canada. The GST also applie...
by Jason RosenThe 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 RosenCRA 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 Jason RosenThe Tax Benefits of a Canadian Controlled Private Corporation
There are many tax incentives available to a taxpayer that is a Canadian-controlled private corporation (“CCPC“), including the small busi...
by Tyra Yah