How Professionals Incorporate To Save On Taxes
Professional Corporations Legislation in Ontario specifically permits certain professionals to practice their profession in a corporate form even though...
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Owing Money To The CRA: Tom’s Story Part 1
Tom Johnson runs a successful sole proprietorship in Toronto, Ontario. He buys consumer goods that he finds online for cheap, and then re-sells them in his...
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Incorporation vs. Sole Proprietorship
When a taxpayer decides to start their own business, he or she must consider the type of business structure best suited to their individual needs. The most...
Read More 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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