Section 85 Rollover
What is a Section 85 Rollover? The Income Tax Act ("ITA") contains several provisions that allow a taxpayer to transfer ownership of property without any...
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Marijuana Dispensaries and Taxes
With the recent explosion of marijuana dispensaries in Vancouver and Toronto, the Canadian government is having a hard time coming up with new laws to...
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Real Estate Audit
The Principal Residence Exemption is Canada's most lucrative tax break. When a taxpayer sells his or her personal residence, providing the conditions are...
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The Cost of Dealing with CRA
Auditor General Michael Ferguson has now released his much anticipated report for 2016. The report itself speaks volumes on the failures of the Canada...
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Bank Deposit Analysis
When the Canada Revenue Agency ("CRA") audits a taxpayer, there are many different auditing methods or techniques that may be used. One of the most widely...
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Business Income vs. Capital Gains
Taxpayers will always try and pay the lowest amount of taxes possible. That is why the difference between business income, and capital gains is so...
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Cheque Cashing Centres
The Canada Revenue Agency ("CRA") is currently conducting a massive audit program looking into taxpayers who have used cheque cashing services between the...
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Arbitrary Assessments
When the Canada Revenue Agency ("CRA") processes a tax return, they produce a document detailing the results known as a Notice of Assessment. If you modify...
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