Exercise Caution in Relying on CRA Policy!
October 27, 2019Exercise Caution in Relying on CRA Policy! Recent Tax Court Decision Punishes Taxpayer for Relying on CRA Policy The Appellant in a recent tax court decision, Ghumman v. The Queen
How does the CRA indirectly verify your income? The “Net Worth Method” and More
October 7, 2019How does the CRA indirectly verify your income? The “Net Worth Method” and More Your business has been selected for an audit and you submit all the required documents, including
Planning to Change Canadian Residency Status? Before you move, know your tax obligations
October 7, 2019Planning to Change Canadian Residency Status? Before you move, know your tax obligations If you are planning to leave Canada, either temporarily or permanently, there are certain things you should
Salary vs. Dividends? Which is the best way to receive compensation as the owner of a corporation?
October 7, 2019Salary vs. Dividends? Which is the best way to receive compensation as the owner of a corporation in Canada? You are the owner of a small business corporation in Canada
New CRA Tax Rules for Stock Options Reduce Taxable Benefit Effective 2020
October 6, 2019New CRA Tax Rules for Stock Options Reduce Taxable Benefit Effective 2020 The June 2019 budget rolled out new tax laws, which will become effective in January 2020. Tightening the
T2125 Tax Form Guide: Declare income and expenses from a business or profession
October 6, 2019T2125 Tax Form Guide: Declare income and expenses from a business or profession What is the T2125 Form? The T2125 form, also called the Statement of Business or Professional Activities,
Shareholder Loans, Benefits, and Their Risks
October 6, 2019Shareholder Loans, Benefits, and Their Risks Incorporation isn’t all upside when it comes to taxes. As with most areas of Canadian law, corporations and their shareholders function as separate persons
