Foreign Assets: Reporting Requirements and Tax Implications
As globalization increases and more Canadians invest in assets outside the country, understanding the tax implications and reporting requirements for...
Read More The Hidden Costs of Litigation: Lessons from Watts v The King
It may be well-known that litigation can be an expensive venture, but the nuances of how costs can impact a case are often overlooked. The recent decision...
Read More New Surtaxes on Imports Starting October 1, 2024
On August 26, 2024, the federal government announced new surtaxes targeting imports from China. This move is aimed at safeguarding the Canadian automotive...
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Tax Deductions and Credits for Ontario Businesses Using Electric Vehicles (EV)
As businesses in Ontario strive to modernize their operations and reduce their carbon footprint, the adoption of electric vehicles (EVs) has become...
Read More Fijal v. The King
In Fijal v. The King, the Tax Court of Canada addressed a complex tax dispute between the taxpayer, Mr. Fijal, and the Canada Revenue Agency (CRA)...
Read More Non-Resident Landlord Withholding Tax: Know Your Responsibilities
Landlords who are not tax residents of Canada and their tenants should be aware of filing and reporting requirements relating to the 25% federal...
Read More Penalties Applicable to Charities for Issuing False or Incorrect Donation Receipts
The Income Tax Act provides a significant deduction for charitable donations. A charity’s donation receipts can provide serious incentive to don0rs when...
Read More Canada Emergency Business Account (CEBA) Loan Forgiveness
During the Covid-19 pandemic, the Canada Emergency Business Account (CEBA) provided a lifeline for many businesses by offering interest free loans to help...
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