Tax

CRA vows action on Canadian tax evaders exposed in Paradise Papers

OTTAWA — The Canada Revenue Agency says it won't hesitate to investigate new evidence of offshore tax evasion in the wake of a second massive leak of tax haven financial records. Read more

Inappropriate for LSUC to impose values on licensees: Rotfleisch

While it may be simple for legal professionals to adopt the Law Society of Upper Canada’s (LSUC) new requirement to sign a statement of principles on diversity, Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily that it is inappropriate for the regulator to impose values on its members. Read more

Changes to proposed tax rules 'less damaging' for small businesses

Although elements of the previously proposed changes to the small business tax in Canada have survived and will create compliance burdens for taxpayers, a vigorous response from the public and professional advisers has led to changes that are less damaging than the original release, Canadian tax lawyer David J. Rotfleisch writes in The Lawyer’s Daily. Read more

How to limit tax risk when expanding to U.S. market

Small and medium-sized businesses considering expansion into the U.S. need to plan ahead to ensure they have limited tax exposure, Oakville-based U.S. tax attorney Alexey Manasuev tells AdvocateDaily.com. Read more

The position of executor: from cradle to grave – Part IV

By Avi Dahary . The determination and discharging of debts and liabilities Read more

U.S. Tax IQ webinar on state, local cross-border tax implications

U.S. tax accountant Brandon Vucen will share his insights on state and local taxes in a cross-border environment during an upcoming Webinar. Read more

Meeting CRA deadlines critical in audit process

A number of circumstances may put an individual or business on the Canada Revenue Agency’s (CRA) radar — but when an audit letter does arrive, it is crucial for taxpayers to respond to the request in a timely manner, Toronto tax litigator Adrienne Woodyard tells Investment Executive TV. Read more

FATCA: for U.S citizens in Canada – form details, filing thresholds

By Alexey Manasuev . Part II: FATCA for U.S Citizens in Canada - form details and filing thresholds Read more

Lawsuit over GA fee likely to end up before SCC

It is likely that Canada’s top court will eventually weigh in on the issues raised in a recently launched lawsuit against the Ontario government, that argues the global adjustment fee (GA) charged on energy bills is unconstitutional, Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily. Read more

Offshore Voluntary Disclosure Program (OVDP) explained

By Alexey Manasuev . By law, every U.S. citizen and U.S. resident is required to file certain financial disclosures and U.S. income tax returns (provided certain requirements are met), regardless of their place of residence. On a more fundamental principle, all U.S. citizens residing outside of the United States are expected to comply with U.S. law, including tax law, no matter how complex that law is or how frequently the law or regulations change. And they do change a lot and often. Read more

CRA stats show 'strong argument' for retaining current VDP rules

Recent figures released by the government that show a large number of Canada Revenue Agency (CRA) audits resulted in only a small number of criminal charges are a strong argument against proposed changes to the Voluntary Disclosures Program (VDP), Canadian tax lawyer David J. Rotfleisch tells AdvocateDaily.com. Read more

Manasuev helps clients navigate U.S. tax maze

After completing his first law degree in his native Russia, Oakville-based U.S. tax attorney Alexey Manasuev had dreams of studying in the U.S. and aspirations to master one of America’s most complicated areas of law. Read more

U.S. Tax IQ to share insights on U.S. gift tax at webinar

U.S. tax attorney Alexey Manasuev and U.S. tax accountant Brandon Vucen will share their insights on the U.S. gift tax in an upcoming webinar. Read more

Gov't starting to tax shared economy at consumer level

The Quebec government’s recent agreement with Airbnb that allows the online hospitality service to collect and remit the tax on lodging on behalf of hosts represents the first time a province has directly taxed the shared economy at the consumer level, Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily. Read more