Allowable Business Investment Loss Claims
An allowable business investment loss (“ABIL”) is a special type of capital loss that is deductible against all sources of income. This is different from...
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What is GST/HST?
What is the GST/HST? The Goods and Services Tax (GST) is a tax that applies to most supplies of goods and services made in Canada. The GST also applies...
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The New 15% Global Minimum Tax Rate for Corporations
The Organization for Economic Cooperation and Development (OECD) has released their long-awaited Pillar Two model rules on December 20, 2021, marking what...
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CRA Review of Corporate Travel Expenses
The Canada Revenue Agency (the “CRA”) conducts regular reviews of corporate tax returns. As part of a new group project, the CRA is focusing on corporate...
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The Tax Benefits of a Canadian Controlled Private Corporation
There are many tax incentives available to a taxpayer that is a Canadian-controlled private corporation ("CCPC"), including the small business deduction...
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Ontario’s 2022 Staycation Tax Credit
In light of the many COVID-19 travel restrictions implemented by Ontario, the provincial government has introduced a new temporary Staycation Tax Credit for...
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The Tax Court of Canada – What is a Notice of Appeal?
When a Taxpayer files their income tax return, the Canada Revenue Agency (the “CRA”) review the returns and issues a Notice of Assessment. The CRA may...
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The Tax Court of Canada – How to Start the Process
What is a Notice of Appeal? A Notice of Appeal is a document that is filed with the Tax Court of Canada (or whatever court the taxpayer is appealing to),...
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