Sharing our expertise.
We are grateful that 94% of our clients are referred to us by accountants, lawyers, and financial advisors. The following articles and presentations are our way of sharing our expertise with those who’ve helped make us a success.
INSIGHTS AND ARTICLES
How to Beat a Net Worth Audit
In the midst of the COVID-19 pandemic, business owners are having to make incredibly difficult decisions about how they allocate their precious financial resources.
What You Need to Know About GAAR and How to Fight it
The CRA often tries to disallow tax-planning transactions on the grounds that they violate the General Anti-Avoidance Rule (“GAAR”) under s.245 of the ITA.
When Making Business Decisions in Response to COVID-19, Factor in CRA’s Collections Powers
In the midst of the COVID-19 pandemic, business owners are having to make incredibly difficult decisions about how they allocate their precious financial resources.
What Are the Offshore Investment Fund Property Rules and What Do They Mean for You?
Thousands of Canadians invest in Offshore Investment Fund Property (OIFP) every year.
Canada Revenue Agency Audits: Knowing Their Limits
Being audited by the CRA can be a confusing and overwhelming process for a taxpayer. What are your rights? Are there any limits as to what CRA can ask you for?
Transfer Pricing: What You Need to know and Do if CRA Assessed You With Improper Transfer Pricing Under Section 247 of the ITA.
Transfer pricing refers to the price Canadian-resident businesses pay when they buy and sell goods or services from a related, foreign party, such as a subsidiary.
The Different Ways Goods and Services Are Taxed in Canada and What It Means for Your Business
For tax purposes, goods and services bought and sold in Canada fall into three categories:
Input Tax Credits (ITCs): Maximizing the Benefits and Minimizing the Challenges
Input Tax Credits (ITCs) are a way for businesses to recover the GST/HST paid or payable on expenses relating to their commercial activities.
The Tax Pitfalls of Shareholder Loans, and How to Avoid Them
Shareholder loans—loans given by a corporation to its shareholders—are a common business practice. It is often a perk shareholders receive for investing in the company.
Restaurant Audits: What Every Restaurant Owner Needs To Know
If you own a restaurant, the CRA has its eyes on you.
Directors’ Liability and Three Defences
According to the law, corporations are distinct “people” and generally the CRA can’t pursue one person for the tax debts of another person. Canada’s tax laws, however…
Demonstrating Due Diligence
Canada’s tax laws allow the CRA to hold directors personally liable for their corporation’s source deductions, non-resident withholdings and GST/HST debts.
Status Indian’s Income Situated On Reserve
Section 81 of the Income Tax Act and section 87 of the Indian Act work together to exempt status Indians from tax on income situated on reserve.
How Shareholder Benefits Impact your Income Tax
A shareholder who receives a benefit from his or her corporation is required to report the value of the benefit as income.
Property Flipping Issues Relating to Real Estate Professionals
With the CRA’s increased attention to the real estate sector, it is more important than ever for real estate professionals to be able to alert their clients to the taxes associated with buying and selling property.
Why the Chinese Community Should be Alert to the CRA
There is much concern amongst Canada’s Chinese community regarding the Canada Revenue Agency.
Tax Evasion: A Serious Criminal Offence That Can Be Avoided
Tax evasion is a serious criminal offence that carries up to five years in prison. It is also a serious tax matter.
Third-Party Civil Penalties for Accountants: What they are, what you need to know about them, and what you can do to avoid them.
Many accountants tell us they fear potential future exposure to third-party civil penalties (TPPs).
Lessons from Recent Jurisprudence: Employee or Independent Contractor?
A worker’s status as an employee or independent contractor has significant implications, including whether or not their hirer has to deduct and remit income tax, CPP, and EI.
Three Tax Issues That Lawyers and Accountants with International Clients Should Be Aware of… and How to Solve Them!
Professionals advising foreign nationals doing business in Canada and Canadians doing business abroad need to make sure their clients comply with Canadian tax laws.