Tax Implications of Gifting Large Sums of Money
Gifting large sums of money can be a generous way to support family members, friends, or charitable organizations. However, it's essential to understand the...
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Foreign Tax Credits: Guide for Canadian Taxpayers
For Canadians earning income abroad or paying taxes to foreign governments, the foreign tax credit is a valuable tool to prevent double taxation. Without...
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Director’s Liability in Canada: Understanding Legal Responsibilities
In Canada, directors of corporations bear significant responsibilities and may face personal liability for certain actions or failures of the company....
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CRA Audit Powers and Judicial Review: A Guide for Taxpayers
In the 2024 Budget, the government proposed to further extend the Canada Revenue Agency’s (CRA) audit powers and their power to require additional...
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Understanding Family Trusts in Ontario: Rules and Benefits
Family trusts are becoming increasingly popular in Ontario, and Canada as a whole, as individuals seek effective ways to manage their assets and ensure...
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Chad v The King
In Chad v The King, the Tax Court of Canada addressed a tax dispute between the taxpayer, Robert Chad, and the Canada Revenue Agency (“CRA”) regarding...
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The Working Canadians Rebate and Key 2025 Tax Updates You Should Know About
As we approach 2025, it’s important to take a moment and consider the upcoming changes to your personal tax preparation. The Canada Revenue Agency (CRA) has...
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Estate Freeze: A Tax Strategy for Wealth Preservation
An estate freeze is a sophisticated tax strategy often used by business owners and high-net-worth individuals to minimize the tax burden on their estate and...
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