Tax
Institute for Divorce Financial Analysts™ (IDFA)
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Cash business, self-employment can be audit triggers

Any number of factors can lead to a taxpayer being audited by the Canada Revenue Agency (CRA), but some “red flags” may make certain people more likely ... Read more

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Underreporting taxable benefit can result in CRA scrutiny

Improperly valuing a taxable benefit can bring serious consequences for both employers and employees, Toronto tax litigator  Adrienne Woodyard  tells  ... Read more

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Deficient pleadings & improper advantages in tax litigation

By Peter Aprile In  Tax Court of Canada  appeals, the pleadings are the most important documents that the parties file. The Appellant (taxpayer) is required to file a ... Read more

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Tax advice crucial for start-ups

While many small businesses would consider contacting a tax lawyer when the Canada Revenue Agency (CRA) comes calling, tax advice is also essential for companies starting ... Read more

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New T1135s – Canadian tax lawyer comments

By David Rotfleisch You may have heard of the T1135 form, also known as a Foreign Income Verification Statement. You may have also heard that there have been changes made by ... Read more

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Unfiled tax return may require voluntary disclosure

There are many reasons why people may not file a tax return, but there are options available for those who want to remedy their situation with the Canada Revenue Agency (CRA), ... Read more

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CRA targeting Canadians with too many wins in TFSAs

By David Rotfleisch In late 2011, the Canada Revenue Agency (“CRA”) began auditing Tax-Free Savings Account (“TFSA”) holders for the 2009 and 2010 ... Read more

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Offshore accounts not illegal, but taxpayers must disclose assets

Letters sent to certain Canadian taxpayers late last year, reminding them of their filing obligation, show that the Canada Revenue Agency (CRA) is turning up the heat on offshore ... Read more

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Tax liability can extend to former directors

While most sitting directors of corporations know that they may be held personally liable for a corporation’s failure to remit taxes, many are not aware that this obligation ... Read more

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Healthy finances key before starting law practice

When it comes to launching a successful law practice, a healthy financial foundation is essential, as it will allow a lawyer to focus on bringing in new business, Toronto tax ... Read more

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Alberta case shows taxpayers expect duty of care

An Alberta-based company’s move to sue the Canada Revenue Agency (CRA) alleging 'unusual treatment' due to years of audits and a resulting tax bill of more than ... Read more

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Banks uneasy as foreign tax, money-laundering rules tighten

Amid recent news that a Canadian bank has withdrawn from Latin America and the Caribbean, and last year’s reports that U.S. authorities handed out fines to foreign ... Read more

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Large banks unlikely to shun Americans due to tax rules

A small Canadian bank’s recent move to deny accounts to American customers as a result of new U.S. tax rules is unsurprising, but it is unlikely that large ... Read more

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Cash not only option for charitable giving

Many donate to charities to have a sense that their money is going to a purpose they believe in, but there are other things taxpayers can give besides cash, Toronto ... Read more

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Taxpayers should seek answers from professionals, not CRA

A recent survey that suggests as many as one in four business callers to the Canada Revenue Agency (CRA) are receiving inaccurate information highlights the fact that taxpayers ... Read more

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Woodyard to discuss managing tax audits, investigations

Toronto tax litigator Adrienne Woodyard is set to share her expertise on resolving potential tax disputes at an upcoming course in Calgary. On March 10, Woodyard, partner ... Read more

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Survey echoes experiences with CRA call centre advice

Results of a survey that show a number of business callers have been receiving incorrect advice from the Canada Revenue Agency (CRA) only confirm what some taxpayers, ... Read more

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Tax Court cost rules apply to inappropriate pleadings, recent ruling shows

A rare award of solicitor-client costs handed down by the Tax Court of Canada in a recent case is an example of how the court’s new cost award rules ... Read more

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Jail sentences typical in 'de-taxer' counselling cases

News that a B.C. man was recently sentenced to jail time for educating others on how to avoid paying taxes shows the zero tolerance that both the Canada Revenue Agency and ... Read more

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Cases may signal a new duty of care to taxpayers

While past decisions have held that the Canada Revenue Agency (CRA) owed a duty of care only to the minister of revenue rather than to taxpayers, two recent cases may ... Read more

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