Transfers while Having a Tax Debt
Subsection 160 assessments under the Income Tax Act, and its Excise Tax Act counterpart subsection 325 assessments are the most powerful enforcement...
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Illegal Income
It can be a complete shock to taxpayers when they learn that any money they made from illegal activities is still subject to tax. If an individual is...
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Change in Use of Property
Where a property goes from principle residence to rental, or vice versa, it is known as a change of use in the property. When this occurs, there is a...
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Keeping a Motor Vehicle Log
Keeping a Log Taxpayers must keep a logbook if they only have one motor vehicle and operate that same vehicle for business and personal use. This is done...
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Motor Vehicle Expenses
When a vehicle is used for both personal and business purposes, it is necessary to keep a log to record the business use of the vehicle. The Canada...
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Principal Residence Exemption
The benefit of the principal residence exemption is obvious. As long as the sale qualifies, you will not pay tax on the profit you made from selling your...
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Gross Negligence Penalties
If you, knowingly or under circumstances amounting to gross negligence, made a false statement or omission on your tax return, the Canada Revenue Agency...
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Tax Residency
Canada allows its citizens to be residents of Canada for tax purposes, and non-residents of Canada for tax purposes. This is an important distinction as a...
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