Tax

CRA security concerns persist after recent study

It is clear that data security remains a concern at the Canada Revenue Agency (CRA), after reports that nearly a quarter of employees clicked on a fake phishing email as part of a recent security test, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

Start planning tax strategies now: Rotfleisch

Tax season may officially be over, but it is time for taxpayers to start planning strategies for this year, Toronto tax litigation lawyer David J. Rotfleisch tells Newstalk 1010’s The Night Side. Read more

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 candidates, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

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 Canadian Payroll Reporter . Read more

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 out, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

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 Canada Revenue Agency (“CRA”) to the T1135 effective for taxation years ending after June 30, 2013. The purpose of this article is to summarize and describe what a T1135 statement is, who is responsible for filing one, and what must be reported; it will also cover how the new T1135 is different from the former T1135, suggest why this is happening, and describe what solutions are available for those who have not been filing their T1135s. Read More at The Tax Page Blog Read more

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), Toronto tax litigation lawyer David J. Rotfleisch tells The Night Side on Newstalk 1010. Read more

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 years following the revelation that some TFSA investments had been wildly successful. The result is often a reassessment and a large tax bill for Canadians who thought the TFSA was supposed to be “tax free.” It’s now 2015 and CRA shows no signs of stopping this practice. Read More at The Tax Page Blog Read more

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 accounts and unreported tax income, Toronto tax litigation lawyer David J. Rotfleisch writes on Financial Independence Hub. Read more

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 may also persist after they resign, Toronto tax litigator Adrienne Woodyard writes in Lawyers Weekly . Read more

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 $200 million is just the latest example of the developing duty of care between taxpayers and the agency, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

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 banks for helping its citizens evade tax, it is clear that banks have become ‘gun-shy’ with respect to international operations, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

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 financial institutions will follow suit, says Toronto tax litigation lawyer David J. Rotfleisch. Read more

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 tax litigator Adrienne Woodyard tells CBC News . Read more

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 should instead be directing their questions to a tax professional, says Toronto tax litigation lawyer David J. Rotfleisch. Read more