Michael Ford (post until Oct. 31/18)
Tax

David J. Rotfleisch's media roundup

Canadian tax lawyer David J. Rotfleisch is frequently called upon by the media to be a trusted source for their news stories, particularly for his focus on tax law matters for individuals and businesses.

See the complete list below:

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News that Canada and a number of other nations will exchange information regarding the revenue, profit, tax and accumulated earnings of large multinational enterprises as part of an OECD project “will allow tax authorities to better plan their audit strategies,” Canadian tax lawyer David J. Rotfleisch tells Canadian Accountant.

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Many of Doug Ford’s tax proposals are business friendly and would provide welcome tax relief for both companies and individuals — but while the new PC government has the parliamentary power to enact any tax relief that it chooses, it may lack the fiscal ability to do so, Canadian tax lawyer David J. Rotfleisch writes in The Lawyer’s Daily.

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Just because you filed your tax return early, doesn’t mean you’ll get a timely refund — as the Canada Revenue Agency can send a return for further review at any stage, Canadian tax lawyer David J. Rotfleisch tells Global News.

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When it comes to the Canada Child Benefit (CCB), the major issue for separated parents tends to be proving that they’re actually separated and that they have custody of the children — and a parent who has been thoroughly vetted once isn’t exempt from future tax reviews, as the taxman can check in to make sure the parties are still separated, Canadian tax lawyer David J. Rotfleisch tells Global News.

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Canadian taxpayers have rights — and if you need to speak with the Canada Revenue Agency about a tax adjustment, a restatement or Notice of Assessment, it's a good idea to hire a professional to help you, especially if the taxes owing are five or six-figures, Canadian tax lawyer David J. Rotfleisch writes in the Huffington Post.

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Be sure to file your tax return on time even if you cannot afford to pay $1 of your tax liability, as sticking your head in the sand doesn't work with the Canada Revenue Agency, Canadian tax lawyer David J. Rotfleisch writes in the Huffington Post.

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The 2017 federal budget introduced a taxation change that affects how non-employee lawyers compute and report their income and requires that an extensive valuation of work-in-progress (WIP) take place, Canadian tax lawyer David J. Rotfleisch writes in The Lawyer's Daily.

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As soon as you receive an audit letter from the Canada Revenue Agency (CRA), it is advisable to turn to a professional for help — the earlier you seek advice from an accountant with the proper qualifications or a tax lawyer, the better case you are preparing from the get-go, Canadian tax lawyer David J. Rotfleisch tells Global News.

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The recent federal budget introduced two proposed changes aimed at eliminating the deferral advantage of investing through a private corporation, Canadian tax lawyer David J. Rotfleisch writes in The Lawyer’s Daily.

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As a matter of policy, the CRA has always investigated anyone who is reported via an anonymous tip from a whistleblower — this is also an institutionalized policy with respect to offshore tax evasion through the Offshore Tax Informant Program (OTIP), which pays a percentage reward for any taxes recovered, Canadian tax lawyer David J. Rotfleisch tells Yahoo Finance Canada.

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The CRA’s new voluntary disclosures program (VDP) rules went into effect on March 1, abolishing the ‘no-names’ approach of the former rules that allowed for the disclosure of facts without providing the taxpayer’s name, and requested the CRA to opine if the circumstances met the criteria for protection under the program. It has been replaced with a consultative program — but instead of having a dedicated group of knowledgeable, trained staff handle these consultations, there is no process in place, Canadian tax lawyer David J. Rotfleisch writes in Canadian Accountant.

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From the audit level up, the CRA needs to “have policies in place that taxpayers get the benefit of the doubt and they have to use reason in analyzing situations,” Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily.

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Those who get audited by the Canada Revenue Agency can expect to get put through the wringer by auditors “who defy logic and reason, even when presented with clear evidence of no wrong-doing,” Canadian tax lawyer David J. Rotfleisch writes in the Huffington PostRead The Globe and Mail.

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Although recent reports from the U.S. indicate that most participants in cryptocurrencies do not report their transactions, this is tax evasion in both the U.S. and Canada, as bitcoin is fully taxable when earned and has to be reported to the Canada Revenue Agency, Canadian tax lawyer David J. Rotfleisch writes in The Lawyer’s Daily.

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Although the public needs to know that tax enforcement is taking place in the case of the Panama Papers data leak, recent news that that the Canada Revenue Agency served search warrants in connection with the case may be “largely a PR exercise,” Canadian tax lawyer David J. Rotfleisch tells Canadian Accountant.

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The Canada Revenue Agency (CRA) is set to release data required by the parliamentary budget office to calculate the so-called tax gap, which will provide a measure of the underground economy and how successful CRA is in fighting it — which Canadian tax lawyer David J. Rotfleisch tells Canadian Accountant will likely “provide disturbing reading to honest taxpayers.”

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When it comes to the effectiveness of Canada Revenue Agency tax enforcement activity, the agency’s end of year results will show reality versus “PR spin,” Canadian tax lawyer David J. Rotfleisch writes in Canadian Accountant.

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Lawyers setting up a law practice should incorporate from the get-go, as this will give them the ability to set up an individual pension plan and contribute far more than they would through an RRSP, Canadian tax lawyer David J. Rotfleisch tells CBA National magazine.

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Although it is likely the biggest area of misunderstanding when it comes to the taxation of cryptocurrency, if you swap one virtual currency for another, it must be reported to the Canada Revenue Agency, Canadian tax lawyer David J. Rotfleisch tells Bloomberg.

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Judicial review is the only legal process by which a taxpayer may challenge discretionary decisions — applications for judicial review of the Canada Revenue Agency’s decisions must be brought before the Federal Court and cannot be heard in Tax Court, Canadian tax lawyer David J. Rotfleisch writes in the third of a three-part series in The Lawyer’s Daily.

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The Tax Court of Canada Act does not enable the Tax Court to decide tort actions against Canada Revenue Agency (CRA) employees — a taxpayer may therefore bring a tort claim against the CRA in any provincial superior court, Canadian tax lawyer David J. Rotfleisch writes in part two of a three-part series in The Lawyer’s Daily.

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As U.S. citizens living abroad are required to file U.S. personal tax returns, recent tax reform measures likely represent a “big whammy” for them, Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily.

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While the Tax Court of Canada is tasked with tax appeals, it is far from the only forum to litigate with the Canada Revenue Agency, Canadian tax lawyer David J. Rotfleisch writes in the first of a three-part series in The Lawyer’s Daily.

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The Canada Revenue Agency’s new ‘Postal Code Project’ has two objectives — to let the general public know that high net asset individuals are being targeted by the taxman and to let those individuals know that they are targets, and they need to get their “ducks in a row,” Canadian tax lawyer David J. Rotfleisch tells CBC News Power & Politics.

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While there is growing recognition that tax evasion is not a victimless crime, as other taxpayers have to make up the shortfall, it is fair to say that the stigma attached to tax evasion is still not even close to drunk driving, Canadian tax lawyer David J. Rotfleisch writes in the Montreal Gazette. 

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Ideally, tax planning should be an ongoing process that lawyers, like other entrepreneurs or employees, focus on all year long, Canadian tax lawyer David J. Rotfleisch says in part one of a two-part tax planning series for lawyers in The Lawyer’s Daily.

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There are a number of tax planning tips for lawyers that, for the most part, should be implemented now, Canadian tax lawyer David J. Rotfleisch says in part two of a two-part tax planning series for lawyers in in The Lawyer’s Daily.

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Both the Tax Court of Canada and the Court of Appeal were “absolutely” correct in their recent interpretation of s. 21 of the Excise Tax Act, as it was “quite a stretch” by the federal government and the CRA to make the argument it didn’t apply to Highway 407, Canadian tax lawyer David J. Rotfleisch tells The Lawyer’s Daily.

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Anyone planning to pay a dividend to a family member in the future is going to have to speak to an accountant or lawyer to find out whether the new split income rules will apply or not, Canadian tax lawyer David J. Rotfleisch tells CTV News Channel.

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Assumptions are dangerous and not all is as it seems in the world of casino gambling, Canadian tax lawyer David J. Rotfleisch writes in the Vancouver Sun.

 

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