Appealing a Corporate Tax Audit
When a corporation undergoes a Canada Revenue Agency (the “CRA”) audit, the outcome may result in reassessments, penalties, or additional taxes owing....
Read More
What Is a T3 Trust Return and When Do You Need to File One?
If you are a trustee, executor of an estate, or a beneficiary involved with a trust in Canada, you may encounter the T3 Trust Income Tax and Information...
Read More Corporate Tax Audit Documentation
When the Canada Revenue Agency (the “CRA”) selects a corporation for an audit, one of the first steps is requesting supporting records. The quality,...
Read More Land Transfer Tax in Canada: What Buyers Need to Know
When purchasing real estate in Canada, many buyers focus on the price of the home but forget about a major additional cost: land transfer tax. This one-time...
Read More
Corporate Tax Audit Red Flags
The Canada Revenue Agency (the “CRA”) uses advanced data analysis and risk assessment to decide which corporations to audit. While not every irregularity...
Read More
Car Allowance CRA: For Employers and Employees
Whether you are an employer providing vehicle-related compensation or an employee receiving it, understanding how the Canada Revenue Agency (the “CRA”)...
Read More
Small Business Corporate Tax Audit
Small businesses form the backbone of the Canadian economy, but they are not exempt from scrutiny by the Canada Revenue Agency (the “CRA”). A small business...
Read More
Tax Implications of Selling Your Principal Residence in Ontario
Under section 54 of the Income Tax Act (the “Act”), a principal residence is generally defined as a housing unit (including leasehold interest or shares in...
Read More