Is My GST/HST Reassessment Statute Barred?
If the Canada Revenue Agency (CRA) audits a taxpayer's GST/HST returns, and determines that the previous assessment was incorrect, they are able to change...
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Are Cryptocurrency Losses Tax Deductible?
With a market cap now valued in the trillions, the tax implications of cryptocurrency gains have been a common concern in recent years due to its...
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Are Gambling Winnings Taxable in Canada?
When you’re placing a bet, whether it’s on a hockey game or at the poker table, taxes are probably the last thing on your mind. However, it’s important to...
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Should 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 seeking...
Read More How 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 The...
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Canada’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 attempt to...
Read More Advance 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 technical...
Read More How 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 claimed...
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