by Jason RosenShould I Keep a Logbook for my Expenses?
Canadian Taxpayers can reduce their taxable income by claiming business expenses against the revenue they received. For individuals and businesses see...
by James PendergastHow are Gifts of Capital Property Taxed?
It is well established in Canada that gifts and inheritances are tax-free windfalls enjoyed by taxpayers. The Federal Court of Appeal in Bellingham v ...
by Jason RosenCanada’s New Anti-Flipping Tax
The housing market in Canada has skyrocketed over the years. The average Canadian finds themselves renting because of high housing prices. In an attem...
by Jason RosenAdvance Income Tax Rulings and Technical Interpretations
Taxpayers may request answers from Canada Revenue Agency (“CRA”) by requesting an advance income tax ruling, or a technical interpretation. A tech...
by Jason RosenHow Does the Canada Revenue Agency Find Unreported Income?
The Canadian tax system operates as a self-reporting system. Each taxpayer is responsible for reporting their total income, deductions and credits cla...
by Jason RosenAn Update to the Non-Resident Speculation Tax
We previously wrote about the Non-Resident Speculation Tax (NRST), explaining what it is, what it is applied to, and any refunds or rebates that may b...
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 Rosen