Retail Investing and the Tax Implications in Canada
The COVID-19 pandemic has created novel economic conditions for Canadian investors. Many Canadians were laid off or let go completely from their place of...
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T1135 Discretionary Penalties
Over the past decade, the Tax Court of Canada (TCC) has gradually carved a role for itself to decide whether to penalize Canadians who fail to file their...
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GST/HST Rules for the Supply of Digital Products or Services
The Government of Canada has proposed new measures surrounding the registration and collection and remittance of the goods and services tax / harmonized...
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The Taxation of Electric Vehicles
In recent years, Canada has experienced a significant increase in the adoption rate of ZEV (zero emission vehicle). According to Statistics Canada, electric...
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The CRA Audit Process
Canada has a self-reporting tax regime, meaning that Canadians are responsible for accurately reporting their taxes payable to the federal government by...
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The Corporate Association Rules
If a Canadian-controlled private corporation ("CCPC") is associated with one or more CCPCs, subsection 125(3) of the Income Tax Act (the “Act”) provides...
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Accommodation Sharing
Recently, many Canadians have been looking to get away from the city and enjoy more spacious living due to the imposed lockdowns. As such, individuals have...
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CRA Penalties and Interest: An Update
Many taxpayers are surprised to learn that the Canada Revenue Agency (“CRA”) can and does charge interest and penalties on the outstanding tax liabilities...
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