Should you resort to mutual agreement procedure?
Canada implemented the mutual agreement procedure as an effective tool for resolving economic double taxation issues.
Restrictions on discretionary trust’s dividend allocation powers
If the word ‘discretionary’ means ‘unrestricted’ or ‘unregulated’, does that mean discretionary trusts have unfettered decision-making?
Federal government postpones deadlines for duties and taxes on imports
This change is on top of the announcement from the CBSA on March 19, 2020 which gave importers relief from late accounting penalties.
Tax opportunities in a low-interest rate environment
Lower interest rates may entice taxpayers to borrow to bridge the cash crunch, but is additional debt a good idea in these uncertain times?
COVID-19 and employees’ home office expenses
In this article originally published by the Canadian Tax Foundation, Jiani Qian examines the tax rules surrounding home office expenses.
Understanding the Canada Emergency Wage Subsidy
Can the Canada Emergency Wage Subsidy help people hold on to their jobs and keep business afloat? Our professional shares insights.
Can home office expenses be deducted during COVID-19?
Our professionals examine whether employees can deduct home office expenses and the required supporting documentation amid the pandemic.
Key tax considerations amid COVID-19 concerns
Business owners should evaluate these short, middle and long-term tax considerations to address the numerous challenges posed by COVID-19.
2020-2021 Ontario’s Action Plan commentary
The Action Plan is part of the March 2020 Economic and Fiscal Update to support Ontarians through the COVID-19 crisis.
Canada becomes third country to ratify new NAFTA agreement
With the CUSMA trade agreement changes coming into effect soon, importers should take this opportunity to review their import process.
Treatment of foreign exchange gains on refund of income tax
The Canada Revenue Agency stated that a functional currency filer’s FX gain on refund are on account of capital.
Departure tax for individuals emigrating from Canada
Without careful tax planning, taxpayers may be caught off guard with a tax obligation that they do not have the resources to pay.
Should safe income on hand include taxes accrued but not yet paid?
Our authors summarize FCA’s decision on the calculation of safe income, specifically, the consideration of taxes accrued but not yet paid.
Cross-border debt financing – an overview of Canadian tax implications
Our authors highlight tax rules that businesses often overlook during cross-border debt financing via shareholder loans.
Annulment or rectification – what can taxpayers do to address an error
A recent case signals how opting to annul versus rectify an error may affect the outcome, cost and timeliness of the tax dispute process.