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Canada
Miller Thomson LLP
I love math. I appreciate the coexistence of precision and ambiguity within math. I enjoy the patterns and randomness that present simultaneously within math.
Miller Thomson LLP
Despite their best efforts, taxpayers may sometimes fail to comply with their obligations under the Income Tax Act (Canada) (the "ITA") and incur interest and penalties as a result.
Borden Ladner Gervais LLP
Today, the Canada Revenue Agency (CRA) published its new administrative positions on the compliance obligations of financial institutions under Part XVIII (FATCA) and Part XIX (CRS) of the Income Tax Act (Canada).
Rotfleisch & Samulovitch P.C.
Canadian income-tax law generally ignores a bare trustee, which means that the bare trustee need not report income generated by the trust property.
Aird & Berlis LLP
On April 16, 2024 ("Budget Day"), Canada's Deputy Prime Minister and Minister of Finance tabled Budget 2024: Fairness for Every Generation ("Budget 2024").
McCarthy Tétrault LLP
On November 30, 2023, Bill C-59 received first reading in the House of Commons and the Department of Finance released accompanying Explanatory Notes. Bill C-59 can be found here...
Fasken
On March 28, 2024, the Canada Revenue Agency ("CRA") released a statement exempting bare trusts from having to file a T3 Income Tax and Information Return...
Rosen & Associates
The Federal Court of Appeal (FCA) recently issued a pivotal ruling in Glencore Canada Corporation v R, sparking widespread discussion within the tax and industry sectors.
Rosen & Associates
Understanding directors' personal liability for tax assessments in Canada. Discover the legal framework that applies to corporate directors.
Rotfleisch & Samulovitch P.C.
An alter ego trust is an inter-vivos trust, which means it's created during your lifetime, established after 1999.
Cassels
As the federal government gets ready to table the federal budget, which will be released on April 16, 2024 (Budget Day), and the tax community weighs in on the tax measures expected to be unveiled...
Dale & Lessmann LLP
On March 28, 2024, the Canada Revenue Agency (CRA) has announced that bare trusts are exempt from having to file a T3 Income Tax and Information Return...
Aird & Berlis LLP
On March 28, 2024 (the last business day prior to the April 2nd trust reporting deadline), the Canada Revenue Agency ("CRA") announced that the CRA will not require bare trusts...
Carters Professional Corporation
In a recent update regarding several recommendations made by the Office of the Taxpayers' Ombudsperson (the "Ombudsperson"), the Canada Revenue Agency ("CRA") responded to suggestions...
Gardiner Roberts LLP
In our previous blog post,[1] we discussed the Canada Revenue Agency's (the "CRA") expanded trust filing and reporting requirements...
Fillmore Riley
During the pandemic, most of the world saw a substantial increase in employees working from home. Canada was no exception. According to Statistics Canada, by April 2020...
Rotfleisch & Samulovitch P.C.
Tax obligations exist regardless of whether the source of income is from illegal activities. The CRA will target taxpayers convicted of criminal behaviour for tax auditing and assess the amount of income the CRA believes the taxpayer ...
Rosen & Associates
Having multiple generations living in the same home is a reality for many families in Canada today. This is the result of various factors, including the high cost of living and need for care.
Rosen & Associates
Under the Canadian taxation system, your income tax obligations and entitlements are informed by your residency status.
Rotfleisch & Samulovitch P.C.
An individual who is a Canadian tax resident is liable to pay Canadian income tax on worldwide income.
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