Offshore Corporations and the Voluntary Disclosures Program
With increasing globalization, it is common for many Canadian residents to be involved with business corporations and companies, both small and large,...
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What if I use an RRSP as Security for a Loan?
A Registered Retirement Savings Plan is used to defer taxes on income earned to a later date. The idea behind an RRSP is that while you're working, you are...
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CRA Collections and COVID-19
Given the unprecedented financial turmoil facing Canadians as a result of the COVID-19 Pandemic, on March 20th 2020, the government of Canada announced a...
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What is Considered Tax Evasion?
Tax evasion is where a taxpayer chooses to avoid paying their real tax liability, and either underpays or pays no taxes at all. Tax avoidance and tax...
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When Should a Tax Lawyer be Used?
For most, filing taxes and dealing with the Canada Revenue Agency (CRA) can be scary and confusing. Even for those who file their taxes on time and have...
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Navigating The Tax Court of Canada
The Tax Court of Canada is typically the third state in the dispute resolution process. First, an audit is initiated by the Canada Revenue Agency to take a...
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Joint Bank Accounts, the CRA and Third-Party Liability
Section 160 of the Income Tax Act, and its counterpart, section 325 of the Excise Tax Act, gives the Canada Revenue Agency (CRA) broad powers to collect tax...
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COVID-19 and Tax Planning Opportunities
There is no doubt that COVID-19 has caused havoc globally, negatively affecting almost every facet of our lives. One often highlighted negative outcome has...
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