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...
Read More
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...
Read More
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...
Read More
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")...
Read More
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...
Read More
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...
Read More
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...
Read More