Resources: Tax Tips

A summary of the July 18, 2017 Tax Act Proposals

A Summary of the July 18, 2017 Tax Act Proposals

Posted on July 21, 2017 by admin

On July 18, 2017, Finance Minister Bill Morneau announced the release of a consultation paper and draft legislation to amend the Income Tax Act. The purpose of the proposals is to close perceived loopholes and deal with tax plan...View Post »

Leave of Absence: Tax Consequences

Leave of Absence: There Are Tax Consequences

Posted on June 15, 2017 by admin

A deferred salary leave plan (DSLP) permits an employee to fund, through salary deferrals, a leave of absence from their employment. Generally, salary deferrals are included in income when the amounts are earned. However, if certa...View Post »

“Better Way” Blueprint Tax Reform Raises Concerns for the International Business Community

“Better Way” Blueprint Tax Reform Raises Concerns for the International Business Community

Posted on June 14, 2017 by admin

There is growing speculation that Donald Trump will support the “Better Way” Blueprint for tax reform in the United States.  The Blueprint is a proposal for U.S. tax reform contained in a position paper entitled “A Better W...View Post »

Donation of Publicly Traded Securities: Increases the Value of Charitable Giving

Donation of Publicly Traded Securities: Increase the Value of Charitable Giving

Posted on June 8, 2017 by admin

An individual who gifts cash or assets to a charity is able to claim a donation tax credit which reduces their personal tax liability. If the individual gifts certain publicly traded securities directly to the charity, they may en...View Post »

Keeping the Family Cottage in the Family

Keeping the Family Cottage in the Family

Posted on May 25, 2017 by admin

As the weather starts to become warmer and the first long weekend has just passed, we look forward to spending time outdoors with our families.  Many families have great memories of times spent at the family cottage.  Parents of...View Post »

Meal Reimbursements:

Meal Reimbursements: A Taxable Benefit?

Posted on May 16, 2017 by admin

In a June 10, 2016 French Technical Interpretation, CRA commented on whether an employer had conferred a benefit to an employee where the employee was reimbursed for their meal expenses. Generally, an employee must include the val...View Post »

Objection: Not so Fast

Objections: Not so Fast

Posted on April 27, 2017 by admin

When filing an objection to Canada Revenue Agency  (CRA) reassessment, one of the most frequently-posed questions is “How long will it take?”. The answer, according to the Auditor General, is “too long”. On November 29, 2...View Post »

Cross-Border Taxation

Cross-Border Taxation

Posted on April 20, 2017 by admin

Whether clients are contemplating a move or opening a new office across the border, our cross-border practice can help. Navigating the compliance requirements in Canada and the US can be complicated and confusing, so we’ve hired...View Post »

Federal Budget Takeaways

Top 5 Takeaways from the 2017 Federal Budget Release

Posted on March 30, 2017 by djb

Here are the top 5 things you need to know: No Change to a Number of Rumored Items – capital gain inclusion rate, principal residence exemption and employer provided health plans. Billed-Basis Accounting – professionals will n...View Post »

Payroll Advances: Tax Consequences

Payroll Advances: Tax Consequence

Posted on March 28, 2017 by djb

In an April 26, 2016 Technical Interpretation, Canada Revenue Agency (CRA) opined that where an employer provides a payroll advance to an employee, the amount is not generally considered to be a loan. A salary advance is a payment...View Post »