General

CRA Collections When taxpayers fall behind on their tax obligations, the Canada Revenue Agency (CRA) has broad powers to collect outstanding amounts. Whether you are an individual or a business, understanding the CRA’s collection process is critical to protecting your financial interests and resolving tax debts...

New CRA Policy on Gross Negligence Penalties for SR&ED Claims The Canada Revenue Agency (CRA) has updated its enforcement approach for Gross Negligence Penalties under subsection 163(2) of the Income Tax Act, affecting Scientific Research and Experimental Development (SR&ED) claims. Effective January 28, 2025,...

Exceptions to the CRA Flipping Rules for the Sale of New Houses The Canada Revenue Agency (CRA) has introduced flipping rules that apply to the sale of real estate. These rules aim to ensure that profits from the sale of properties are reported and taxed as business income rather than capital gains. However, CRA recognizes...

Preparing for an Informal Procedure Tax Court Hearing Taking your tax dispute to the Tax Court of Canada is a significant step. Whether you’re filing under the informal or general procedure, proper preparation is critical to ensuring your case is presented...

The New CRA Gig Economy Rules The Canada Revenue Agency (CRA) has introduced new rules that require digital gig economy platforms, such as Uber, Lyft, and DoorDash, to report income earned by their workers. CRA is trying to ensure tax compliance within the rapidly growing gig...

Disagreements with the Canada Revenue Agency (CRA) can arise from audits, reassessments, or penalties. Whether it’s a personal tax issue or a business-related matter, CRA disputes can be stressful and complex. Without expert guidance, you may face significant financial and legal consequences. COMMON REASONS FOR CRA DISPUTES CRA disputes often...

When facing a tax dispute with the Canada Revenue Agency (CRA), the idea of taking the matter to the Tax Court of Canada might seem daunting. However, for smaller disputes, the Tax Court offers an informal procedure that is simpler, faster, and more cost-effective than regular...

Coopers Park Real Estate Development Corporation v. The King, 2024 TCC 12 Accountant-Client privilege does not exist. However, under what circumstances could information or documents from an accountant or third-party be considered privileged and confidential in a legal proceeding? Also, what is the proper scope of...

Incorporating a business can be a powerful step toward growth, but it often comes with significant tax implications. Fortunately, the Income Tax Act offers Section 85 rollovers, a valuable mechanism allowing business owners to transfer assets into a corporation without triggering immediate tax consequences.WHAT IS A SECTION 85 ROLLOVER?Section 85...

In the world of tax and estate planning, various trust structures can help manage and protect assets. One such structure is the bare trust. Although bare trusts may seem simple, they offer unique advantages and considerations that can benefit individuals and businesses alike. WHAT IS A BARE TRUST? A bare trust is a type of trust where the...