Bill C-208: The saga continues…
Bill C-208 has received Royal Assent and is now law, but legislative amendments are expected to support only bona fide business transitions.
Global Minimum Tax Agreement reached by G7
Building off OECD’s Pillars One and Two, the G7 leaders agreed to global tax reform measures targeting large international companies.
Is CRA implementing a new authorization policy?
Do you need to speak to CRA on behalf of corporation? CRA appears to be implementing a new requirement for level 3 authorization.
Earnouts and payments to nonresidents of Canada
Earnouts can bridge a valuation gap between vendor and purchaser, but the tax consequences can vary depending on the vendor’s residence.
T1134: An overdue update on foreign affiliate information reporting
Beginning in 2021, foreign affiliates will face substantial additional reporting requirements with the long-overdue revisions to form T1134.
Will you be able to file your taxes on time this year?
The pandemic continues and CRA has refused to provide an extension to the April 30 deadline. What should you do if you cannot file on time?
2021 Canada Federal Budget: Industry Highlights
Know the key takeaways and impact on major industries from the Canada Federal Budget released on April 19, 2021.
New tax revenue streams, deficit spending, central themes in Federal Budget 2021
Faster than expected economic recovery, new tax revenue streams and deficit spending are all central themes in the federal government’s first official budget for more than two years.
Commercial real estate GST/HST and QST audit issues
A review of the GST/HST and QST compliance issues related to commercial and mixed-use properties with a residential component.
Federal carbon levy ruled constitutional
The Supreme Court of Canada has issued its decision, upholding the Federal Greenhouse Gas Pollution Pricing Act as constitutional.
2021 Ontario Budget commentary
The Budget implements several tax measures to stimulate the economy and to support businesses and individuals hardest hit by COVID-19.
What business owners need to know about value before selling
Learn how to view the value of your business through the eyes of a buyer and what you can do today to plan for a successful transaction.
New GST/HST rules for remote sellers of services and digital products
Nonresidents of Canada could face significant Canadian sales tax compliance obligations effective July 1, 2021.
Tax cases of interest
Stay up-to-date with recent Court decisions on tax matters. Read about transfer pricing (Cameco) and FX trading losses (Paletta Estate).
2021 tax season has officially launched
February 22 marked the official launch of the 2021 tax season and new measures are already in place in light of an unprecedented 2020.
Construction of residential rentals and GST/HST and QST audit issues
Audits are increasing of GST/HST/QST compliance in the construction and rental and mixed-use properties – are you ready?
Achieving temporary relief from tax on CEBA loans
CEBA loan recipients could potentially defer the income inclusion until the next taxation year by making a subsection 12(2.2) election.
Canadian payroll obligations for foreign employees working in Canada
With many employees working remotely, your company’s payroll compliance for foreign employees is more complicated.
Tax considerations on troubled business acquisitions
For middle market businesses, tax considerations can weigh heavily on how a deal is structured and the future viability of the transaction.
Self employment losses reduce pre-accident gross employment income
If an individual is a business owner or employed by a company, should the self-employed business losses reduce income when calculating IRB?