September 7, 2023

First Home Savings Account (FHSA): A New Investment Tool

The tax-free FHSA was introduced in 2023 to help first-time home buyers save up to $40,000 for a home purchase. Individuals eligible to open an FHSA […]
July 5, 2023

How to Pick the Best Case Management Software for Your Law Firm With every passing year, technology continues to redefine the legal profession. As a result, […]
June 8, 2023

Budget 2023: Top Five Items for Owner-Managers

Budget 2023 (A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future) was introduced in the House of Commons on March 28, 2023. The top five […]
February 22, 2023

GST/HST Input Tax Credits: Reasonable Expectation of Profit

A July 28, 2022 Tax Court of Canada case considered whether input tax credits (ITCs) in respect of a farming operation’s expenditures were available. The farming […]
January 31, 2023

Executor: Whether to Accept This Role

Individuals may be asked to take on various roles in respect of loved ones, friends, clients or others. One role that is particularly riddled with challenges […]
January 17, 2023

Director Liability: Is Asking About Source Deductions Enough?

Directors can be personally liable for payroll source deductions (CPP, EI and income tax withholdings) and GST/HST unless they exercise due diligence to prevent the corporation […]
January 3, 2023

TFSA Overcontribution: Relying on Information in Your CRA Online Account

One challenge when relying on CRA-provided information online in respect of TFSA contribution room is that the information is not updated on a real-time basis due […]
December 12, 2022

Tips Collected Electronically: Withholding Requirements

Where tips are “paid” by an employer, they are pensionable and insurable. In such cases, the employer must also withhold income tax and report the amounts […]
November 29, 2022

Trusts: New and Expanded Disclosure Requirements

Legislation has been proposed for trusts (including estates) with years ending on December 31, 2023 and onwards that would significantly expand the reporting rules. More trusts […]
November 15, 2022

Cloud Accounting 101

Cloud accounting software is an easy solution to small business bookkeeping. From collaboration to secure data storage, learn more about cloud accounting. QuickBooks Online is cloud accounting software […]
October 27, 2022

Buying and Selling a Home: Budget 2022 Proposals

The 2022 Federal Budget included several proposals that would significantly change the taxation environment when buying and selling a home. Broadly, the government proposed various incentives […]
October 18, 2022

Recent tax updates

The interest rate on overdue taxes for the fourth quarter of 2022 (October 1 – December 31, 2022) has increased by 1% to 7%. Make sure […]