Considering Judicial Review?
The Canada Revenue Agency (“CRA”), like all other government decision-making bodies, are accountable for their actions. The Income Tax Act ("Act")...
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Tax Shelters & Gifting Arrangements
A tax shelter is defined in subsection 237.1 of the Income Tax Act as an arrangement that provides a taxpayer tax benefits or deductions which...
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Spousal Rollover
Under subsection 70(5)(a) of the Income Tax Act, when a taxpayer passes away, they are deemed to sell, and re-purchase all non-depreciable, and depreciable...
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Replacement Property Rules
Replacement Property Rules - Deferring a Capital Gain Normally, if you sell a property at a higher amount than the purchase price, there will capital gains...
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RRSP Over Contributions
A Registered Retirement Savings Plan ("RRSP") is a tax deductible way of funding your retirement. Contributions made are deductible from your income, which...
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Lifetime Capital Gains Exemption
The Lifetime Capital Gains Exemption (LCGE) is an incentive created by subsection 110.6 of the Income Tax Act. It allows taxpayers the opportunity to sell...
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Renting Out Your Property
If you rent out property, there are a number of expenses that may be deducted from your rental income to lower your overall tax bill. Some typical expenses...
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