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Top Stories in Tax

Bakery owners

TOSI exceptions for your business-owner client

Find out what the CRA says about investment income and selling a business

New trust reporting and disclosure rules are coming

The idea of a “private” trust will slip from the vernacular in 2021, as the government gains new information

Part-time advisor’s business income doesn’t justify ‘staggering’ expenses

A Tax Court case shows what can happen to unsupported claims

Dealing with no-contest clauses

What is a no-contest clause, and what do executors need to know?

Tax problems business and financial concept as a businessman on a road to success blocked by a brick wall with the word taxes painted on the surface as a metaphor for finance issues as an adversity to growth.

CRA suspends new debt collection to prevent financial hardship

Pre-existing situations will be assessed case by case

chef making a pizza spreading sauce

Helping clients access new federal money

Here's a breakdown of the benefit programs and help for small businesses

senior woman with laptop

Liberals ease minimum RRIF withdrawals as part of pandemic response

Finance Minister Bill Morneau said the minimum withdrawal rate will be 25% lower for 2020

Parliament buildings in winter

Liberals pledge up to $82 billion in spending, deferred taxes

The unprecedented package includes a beefed-up Canada Child Benefit, GST tax credits, a wage subsidy and emergency EI benefits

Supreme Court of Canada building in Ottawa, Canada

Speculation or hedge? Supreme Court rules on derivative case

The ruling has implications for tax treatment

senior woman with laptop

Tax tips for seniors

The CRA details the benefits, credits and expenses that your senior client may be eligible for

  • By: Staff
  • March 11, 2020 March 11, 2020
  • 12:42
Students at university campus

Common RDSP misconceptions

The Registered Disability Savings Plan requires proper planning

mans hands behind bars in jail or prison

Tax preparer prepares for jail

The former CRA employee was sentenced to more than 4 years for tax fraud

  • By: Staff
  • February 28, 2020 February 28, 2020
  • 14:49

CRA criticized for service delays

Taxpayers’ Ombudsman issues 15 recommendations for improving the agency's performance

Help clients calculate RRSP limits

Breaking down pension adjustments and other challenges

Tax tips for students

The CRA provides a handy list of potential tax benefits and credits

  • By: Staff
  • February 12, 2020 February 12, 2020
  • 13:39

Tax preparer gets jail time for fraud

Clients' tax returns were filed with phoney charitable tax credits, business losses

  • By: Staff
  • February 10, 2020 February 10, 2020
  • 12:55

Second-generation income and TOSI

Find out when your client’s investment income could be subject to the tax on split income

Dealing with an overly broad (or narrow) encroachment clause

Exercising discretion with estate assets in trusts

Avoiding a dependant’s relief claim

A recent court case illustrates the risks that come with longer lives