Tax
The Canadian Bar Insurance Association
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Seeking legal counsel, fiduciary accountant shouldn’t be an afterthought

It’s important for those acting as a guardian or a trustee during litigation to seek both experienced legal advice and fiduciary accounting expertise at the outset before ... Read more

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Voluntary disclosure window closing for unreported Swiss accounts

Canadian taxpayers who have not reported their Swiss bank accounts to the Canada Revenue Agency (CRA) may be running out of time to file a voluntary disclosure, in order to avoid ... Read more

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Year-end brings key opportunities for tax planning

The end of the year brings a number of opportunities to reduce your 2015 taxes — and many taxpayers may already be engaging in tax planning without realizing it, ... Read more

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Americans in Canada should seek tax advice on new FATCA rules

With a legal challenge denied and a new cross-border tax agreement to exchange financial information now in place, American citizens resident in Canada should be sure to seek tax ... Read more

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Resist pressure to take on all files when starting law firm

When starting your own law practice, it can be tempting to take on any work that comes your way — but it is a better idea to stick to your guns and not try to be all things ... Read more

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Charities: file returns or face losing charitable status

News that the Canada Revenue Agency (CRA) has revoked the charitable status of a New Brunswick non-profit underscores how vital it is for charities to file annual information ... Read more

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After the estate trustee is no longer accountable to the OCL

Although trustees are no longer legally compelled to submit estate accounts to the Office of the Children’s Lawyer after a beneficiary reaches 18 years of ... Read more

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Taxpayers may be unaware of extent of CRA collection powers

Taxpayers who have had their file forwarded to a Canada Revenue Agency collections officer may be surprised to learn that these employees have the power to seize bank accounts and ... Read more

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New CRA priorities positive for taxpayers

Priorities set out by the new government that aim to increase the Canada Revenue Agency’s (CRA) focus on clients and improve communication will be very welcome changes for ... Read more

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How the CRA will uncover your offshore assets

By Peter Aprile In the past, financial secrecy was common. The world has changed. The Organisation for Economic Co-operation and Development’s (the ... Read more

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Earning income via corporation means tax deferral, not reduction

Although some believe that small businesses are a vehicle used by the wealthy to avoid tax, earning income this way merely defers taxes on active business income until dividends ... Read more

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Using corporation for income not always a tax advantage

While there is a benefit to using a corporation for active income in some circumstances, it is important to realize that this does not result in an absolute tax savings, Toronto ... Read more

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Trust taxation changes a 'headache' for taxpayers

When changes to the taxation of testamentary trusts take effect on Jan. 1, the additional cost for taxpayers is likely to be in the tens of thousands of dollars per year for each ... Read more

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Only legal non-residents exempt from paying CRA

While there is nothing unusual about parents buying real estate for their student children in Canada, offshore-based property buyers should make sure they are considered ... Read more

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The case for preparing annual estate accounts

It’s prudent for executors and trustees to hire an expert to prepare the estate accounts and the trust tax return at the same time, says  Avi Dahary , founder of  ... Read more

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Breaches of confidentiality expose taxpayers to damages

News that most of the privacy breaches reported by the Canada Revenue Agency (CRA) in 2014 were committed by the agency’s employees highlights the need for tougher sanctions ... Read more

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CRA may see influx of tips after Ashley Madison hack

Relationship strife may not be the only fallout from the recent information hack at the adultery website Ashley Madison — the Canada Revenue Agency (CRA) could ... Read more

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Rules around eligible medical expenses need loosening

While recent news reports say the Canada Revenue Agency (CRA) is now allowing medical marijuana as an eligible medical expense, the agency’s recognition of ... Read more

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Tax obligations, debts continue for incapacitated individuals

As incapacitated individuals have the same tax filing requirements as all other taxpayers, substitute decision makers should be sure to stay on top of their ... Read more

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Webinar to outline tips for navigating tax audits

On Oct. 1 , Toronto tax litigator  Adrienne Woodyard  will share practical strategies for navigating audits and resolving tax disputes with the government via a ... Read more

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