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2024 - Q4
In this edition:
Tax Tidbits
Corporate Tax Return Filed Late: Ability to get a Tax Refund
Shareholder Purchasing Asset: Input Tax Credit (ITC)
Psychotherapy and Counselling Therapy: GST/HST?
Shareholder Loan Account: Proper Bookkeeping
Withholding on Rent Paid to Non-Residents: Draft Legislation
Employment Expenses: Salary to Spouse
New Canada Disability Benefit: Proposed Regulations
Trust Distributions: Violating Trust Terms
2024 - Q3
In this edition:
Tax Tidbits
Real Estate: CRA Audit Activity
Business Receipts: What is Sufficient?
Crypto-Assets: Reviews and Audits
Canada Pension Plan: Changes to Certain Benefits
TFSA: Caution with Overcontributions
Use of Corporate Assets By Shareholder: Taxable Benefits?
CEBA: Collection Process
2024 - Q2
In this edition:
Tax Tidbits
Capital Gains Inclusion Rate: Proposed Increase
GST/HST Returns: Mandatory Electronic Filing
Short-Term Rentals: Denial of Expenses
Short-Term Rentals: Sale of Property – GST/HST Issues
Director Liability: De Facto Director
Motor Vehicle Allowances: Carpooling
Unnamed Persons Requirement: Another CRA Compliance Tool
Online Reviews: Employees Must Disclose their Connection to the Business
Non-Profit Organization: Maintaining its Status
2024 - Q1
In this edition:
Tax Tidbits
New Trust Reporting: Unexpected Exposure
Automobile Deduction and Benefit Rates: 2024 Limits Released
T-Slips: Filing and Distribution Issues
Personal Services Business: CRA Education Initiative
Working From Home Expenses: Employment Expenses
Canada Dental Care Plan (CDCP): New Income-Tested Benefit
Farm Losses Can Be Restricted: May Apply Even When Significant Time and Cash is Invested
2023 Personal Income Tax Return Checklist
In this edition:
A. Information - All Clients Must Provide
B. Questions to Answer
C. Additional Information - New Clients Must Provide
D. Other
Tax Tips & Traps - 2023 Personal Income Tax Return Checklist
2023 Year-End Tax Planning
In this edition:
2023 Year-End Tax Planning
2023 Remuneration
2023 - Q4
In this edition:
Tax Tidbits
CEBA Repayment Deadline Extended: Some Issues
Enhanced GST Residential Rental Rebate: Increased Incentives
Enhanced First-Year CCA: Phase-Out After December 31, 2023
Surcharge to Accept Payment Via Credit Card: GST/HST?
Businesses Purchasing from Non-Residents: GST/HST?
Mandatory Disclosure Rules: Increased CRA Disclosures
Revival of a Corporation: Tax Collection
Employment Insurance: Misconduct
2023 - Q3
In this edition:
Tax Tidbits
CPP Enhancements: Higher Contributions and Higher Benefits
First Home Savings Account (FHSA): A New Investment Tool
Cryptocurrency Exchange Cessation: Recordkeeping
Multigenerational Home Renovation Tax Credit: More Housing Support
Disability Tax Credit (DTC): Electronic Applications
Paying Rent to Non-Residents: Withholdings Required
Gifts Directed to Other Donees: Loss of Charitable Status
2023 - Q2
In this edition:
Tax Tidbits
Budget 2023: Top Five Items for Owner-Managers
Underused Housing Tax (UHT): Increased Disclosures and Taxes
TFSA: Carrying on a Business Within It
Unreported Capital Trades Included on a T5008: CRA Policy
Employment Expenses for Commissioned Employee: Sponsorship
Small Business Succession: Many Business Transfers Coming Shortly
Employee Time Theft: Some Challenges
2023 - Q1
In this edition:
Tax Tidbits
Covid Benefits: Review/Audit Activity
Unreported Real Estate Dispositions: Multiple Issues
Employee Gifts and Parking: Updated CRA Policies
Witnesses For Legal Documents: Choose Them Wisely
Canada Dental Benefit: Support for those with Young Children
One-Time Top-Up to the Canada Housing Benefit: Additional Support
Poker Winnings: Taxable or Not?
2022 Personal Income Tax Return Checklist
In this edition:
A. Information - All Clients Must Provide
B. Questions to Answer
C. Additional Information - New Clients Must Provide
D. Other
Tax Tips & Traps - 2022 Personal Income Tax Return Checklist
2022 Year-End Tax Planning
In this edition:
2022 Year-End Tax Planning
2022 Remuneration
2022 - Q4
In this edition:
Tax Tidbits
Crowdfunding: Taxable or Not?
Trusts: New and Expanded Disclosure Requirements
Director Liability: Is Asking About Source Deductions Enough?
Executor: Whether to Accept This Role
GST/HST Input Tax Credits: Reasonable Expectation of Profit
Tips Collected Electronically: Withholding Requirements
2022 - Q3
In this edition:
Tax Tidbits
Poker Playing: Hobby or Business?
Required Travel: Between Home and Work
Principal Residence Exemption: Land in Excess of One-half Hectare
Personal Services Business (PSB): CRA Education Initiatives
TFSA Overcontribution: Relying on Information in Your CRA Online Account
CPP Disability Benefit: Following the Doctor's Advice
Shared Custody Arrangements: Impact of School Closures
2022 - Q2
In this edition:
Tax Tidbits
Buying and Selling a Home: Budget 2022 Proposals
Principal Residence Exemption: CRA Project
CERB/CRB: Eligibility Verification
Estimated Sales by CRA: Audit File Selection and Assessment
Auditing Old Tax Returns: CRA Abilities and Limitations
Money Received from Abroad: CRA Reviews
Digital Adoption Program: Grants, Loans, and Professional Assistance
2022 - Q1
In this edition:
Tax Tidbits
Small Business Air Quality Improvement Tax Credit: Could Your Business Benefit?
COVID-19 Business Supports: Targeted Measures
Falsified Employment Records: The Penalties Can be Large
Corporate Advertising and Promotion Expenses: CRA Increasing Reviews
Teachers and Early Childhood Educators: Expanded Access to Tax Credit
Canada Worker Lockdown Benefit (CWLB): Modified Support for Individuals
Old Age Security (OAS): Clawback Planning
2021 Personal Income Tax Return Checklist
In this edition:
A. Information - All Clients Must Provide
B. Additional Information - New Clients Must Provide
C. Questions to Answer
D. Other
Tax Tips & Traps - 2021 Personal Income Tax Return Checklist
2021 Year-End Tax Planning
In this edition:
2021 Year-End Tax Planning
2021 Remuneration
2021 - Q4
In this edition:
Tax Ticklers
Enhancing the Value of Owner-Managed Business
Salaries to Family Members
Providing Supplies to your Contractors
Director Liability
Life Insurance Policies
Holding Digital Assets in RRSPs
Withdrawing from Family RESPs
Workspace in Home Claims
2021 - Q3
In this edition:
Tax Ticklers
Canada Emergency Rent Subsidy (CERS)
CRA Collections
Travel Allowances
COVID-19 Medical Expenses
Canada Emergency Response Benefit (CERB)
TFSA
Will and Beneficiary Designations
CRA or Scammer
2021 - Q2
In this edition:
Tax Ticklers
Immediate Capital Asset Write-off
Canada Recovery Hiring Program (CRHP)
Extended Wage and Rent Subsidies
Beneficial Ownership of Corporations
Rental Properties
COVID-19 Benefits for Individuals
Taxpayer Relief
Guaranteed Income Supplement
2021 - Q1
In this edition:
Tax Ticklers
Canada Pension Plan
Canada Emergency Wage Subsidy
Canada Emergency Rent Subsidy
Employees Working from Home During COVID-19
Canada Emergency Business Account
Underground Economy
Online Activity
Recent Insights
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