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August 18, 2023
Reading Time 2.4 Min
A November 25, 2022 French Tax Court of Canada case considered whether a taxpayer’s poker activity constituted a source [...]
It's important to keep your address up to date with the CRA to ensure you receive important tax-related correspondence and to avoid any potential delays in processing your tax returns. Find out How to update your address with the CRA
2022 Year-End Tax Planning December 31, 2022 is fast approaching… see below for a list of tax planning considerations. Please [...]
November 25, 2022
Reading Time 2.8 Min
New tax legislation is being enacted which requires increased tax reporting for existing trusts and will create filing requirements [...]
Uncollectible Accounts: Making Them Valuable Tax Possibilities – Bad Debt Write-off As many businesses are struggling to collect outstanding amounts, it [...]
November 15, 2020
Reading Time 1.4 Min
Where the supplier is providing goods or services to an NPO in exchange for advertising and/or promotional services, a barter transaction may have occurred. As such, the typical rules for barter transactions would apply.
In general, gains are fully taxable where the taxpayer buys a property with the intention to sell for a profit (sold on “account of income"). In other cases, half the gain is taxable (sold on “account of capital”). When a sale on “account of capital” involves the sale of a principal residence, the tax may be reduced or eliminated by using the principal residence exemption.
Tips received by servers and other individuals in the service industry are taxable. However, since tips do not show up on T4 slips, some taxpayers are under the false understanding that they are either not taxable, or only partially taxable.
In order for home office expenses to be deductible against employment income, the employee must be required by contract to incur such expenses, and one of the following has to be met...
When applying for the home accessibility tax credit (HATC), valued at 15% of up to $10,000 in expenditures per year, does it matter if the renovation increases the value of my home? Yes, and No.
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