by Jason RosenShareholder Loans
A shareholder loan is money given by a corporation to a shareholder, or to someone who does not deal at arm’s length with the shareholder. If c...
by Jason RosenPrecious Metals and GST/HST
According to subsection 123 of the Excise Tax Act, a precious metal is part of the definition of “Financial Instrument”. This is import...
by Jason RosenNet Worth Audits and Assessments
Subsection 152(7) of the Income Tax Act and subsection 299(1) of the Excise Tax Act both state that the Canada Revenue Agency (CRA) is not bound by th...
by Jason RosenSmall Business Deduction
The small business deduction provides Canadian Controlled Private Corporations with a tax break on their first $500,000 of active business income. &n...
by Jason RosenIncome Splitting and Rules of Attribution
Why Split Income? If only one spouse works in a household, then that individual is usually tempted to try and give some income to his or her spouse ...
by Jason RosenTransfers while Having a Tax Debt
Subsection 160 assessments under the Income Tax Act, and its Excise Tax Act counterpart subsection 325 assessments are the most powerful enforcement...
by Jason RosenIllegal Income
It can be a complete shock to taxpayers when they learn that any money they made from illegal activities is still subject to tax. If an individual i...
by Jason RosenMotor Vehicle Expenses
When a vehicle is used for both personal and business purposes, it is necessary to keep a log to record the business use of the vehicle. The Canada R...
by Jason RosenPrincipal Residence Exemption
The benefit of the principal residence exemption is obvious. As long as the sale qualifies, you will not pay tax on the profit you made from selli...
by Jason Rosen