General

The authors of this article address the serious problem of lack of effective recourse for Canadian taxpayers where they are subject to the abusive exercise of audit and/or assessment powers by tax officials:...

Understanding the Canada Child Benefit: A Guide for FamiliesThe Canada Child Benefit (CCB) is a tax-free monthly payment designed to help families with the cost of raising children under the age of 18. The benefit, introduced in 2016, has become a vital financial resource for many Canadian families, aiming to reduce child poverty and ease the...

With the rise of cryptocurrency, the Canada Revenue Agency (CRA) has become increasingly vigilant in ensuring Canadians report all taxable income, including earnings from cryptocurrency. Although many crypto transactions occur online and may seem anonymous, the CRA has developed sophisticated methods for identifying unreported income from digital...

Selling your home can be an exciting milestone, but it can also attract the attention of the Canada Revenue Agency (CRA). Homeowners often rely on the principal residence exemption to shelter capital gains from the sale of their principal residence from taxes. However, when CRA audits a property sale, it will challenge the claim of this...

CRA’s Offshore Audits: What You Need to KnowIn recent years, the Canada Revenue Agency (CRA) has significantly ramped up its efforts to combat offshore tax evasion. With the global economy becoming increasingly interconnected, CRA’s focus on offshore audits is more critical than ever for taxpayers with international financial...

In Canada, the obligation to report income accurately to the Canada Revenue Agency (CRA) is not just a legal requirement but a cornerstone of our tax system. However, instances of unreported income can arise due to various reasons, sometimes inadvertently, leading to potential legal implications with the CRA. Understanding Unreported Income...

Earlier this year, a story that captured the attention of Canadians involved a tenant being assessed by the Canada Revenue Agency (CRA) for failing to withhold 25% of their rent payments to a non-resident landlord. This situation arose because the tenant was unaware that their landlord was a non-resident of Canada. The tenant had even inquired...

The Canada Revenue Agency’s (CRA) Voluntary Disclosure Program (VDP) offers taxpayers a chance to correct past errors or omissions without facing penalties or prosecution. However, for a disclosure to qualify under this program, it must meet specific criteria, with the most critical being that the disclosure is voluntary. This blog will delve...

Moving to a new country like Canada can be an exciting adventure for expatriates, but it also comes with certain tax implications that must be carefully navigated. For expatriates residing in Toronto, the Greater Toronto Area, and other locations, understanding Canadian tax laws is crucial to ensure compliance and minimize tax liabilities. In...

It is crucial to understand whether a real estate transaction in Canada is subject to the Goods and Services Tax (GST) and Harmonized Sales Tax (HST). For those dealing with residential complexes, certain sales may be exempt from GST/HST under specific conditions outlined in the Excise Tax Act (ETA). Canada Revenue Agency (CRA) audits targeting...