Taxation

Practice

Tax practice reminder — there is no accountant-client privilege

A recent Tax Court case is a reminder that taxpayers and accountants must carefully consider the nature of communications, says Molly Luu of Miller Thomson
Business

A $50 million battle is brewing at Niagara Region: St. Catharines mayor wants taxpayer dollars to help developers

Taxpayers in the Niagara Region will be on the hook for $50 million for developer incentives if the mayor of St. Catharines convinces regional councillors
Business

Sunday News Roundup 24.09.22: NDP backs off carbon tax, free trade disaster, and more Canadian accounting news

Wrapping up the odds and ends from the past week in Canadian accounting news
Partner Posts

2024 Tax Planning: Opportunities & Strategies with the Tax Immersion Program

CPA Ontario's inaugural Tax Immersion Program equips Chartered Professional Accountants with the skills needed to thrive in the evolving tax landscape
Practice

Employees Beware: Upcoming legislation affecting capital gains will impact employee stock options

David J Rotfleisch explains how Department of Finance changes to legislation, which are expected to be retroactive to June 25, 2024 will affect stock options
Business

Matheson’s top staffer wants provincial review

Residents of a northern Ontario community petitioning the Ontario government in response to a 34 per cent tax hike following a municipal budget increase
Business

Jasper rebuilds may not be eligible for clean energy upgrade loans

Will Jasper, Alberta taxpayers, whose homes were destroyed by wildfires this year, be allowed to access a municipal clean energy tax program to rebuild?
Business

New ad campaign takes aim at B.C. LNG

A new ad campaign warns LNG expansion in British Columbia is a risk to Canadian taxpayers and counters claims from fossil fuel advocacy group Canada Action
Practice

Are poker winnings now taxable In Canada? A Canadian tax lawyer's analysis of four Tax Court Of Canada recent poker decisions

When a taxpayer relies on other means to sustain their lifestyle, poker-playing activities fail to comprise a source of income, explains David J Rotfleisch
Practice

PCAOB releases two new, divergent inspection reports for Canadian accounting firms

While Deloitte Canada continued its recent record of success, Kreston GTA respectfully disagrees with significant deficiencies cited by the US audit watchdog
Business

M.D. of Taber seeking action on unpaid oil and gas taxes

Oil and gas companies owe Alberta municipalities more than $200 million in unpaid property taxes; Taber is owed more than 10 per cent of its annual budget
Practice

How lower income individuals can receive valuable tax benefits by using CRA's new free SimpleFile program

The Canada Revenue Agency has invited more than 1.5 million lower- or fixed-income Canadians with simple tax situations to use the SimpleFile pilot program.
Business

New provincial committee to review government spending in every department, premier says

Critics say Premier Smith, whose popularity has plunged, is looking for ways to deliver on a signature campaign promise that was broken in the last budget
Practice

Is it easier for the IRS to collect Canadian tax debt?

Lori Bokenfohr and Christopher Steeves of Fasken deconstruct a recent US Tax Court example of considerable multilateral cooperation between the IRS and CRA
Profession

Sunday News Roundup 24.08.18: Audit watchdog raises the bar, duelling tax tales, and more Canadian accounting news

Wrapping up the odds and ends from the past week in Canadian accounting news
Business

Report shows Alberta tax revenue from renewables up 92 per cent

Alberta's moratorium on wind and solar projects has chilled renewables despite the benefits of tax revenue, job creation and cheap energy to taxpayers
Business

Officials to Queen's Park: Fee freeze to aid home building hurts local taxpayers

Conservation authorities in London, Ontario want the Doug Ford government to reverse its province-wide freeze on fees that benefit home-building developers
Practice

Crossing the border, part three: Individual retirement plan tax issues for Canadian and American expatriates

In the final part of a three-part series on cross-border tax issues, Professor George Gonzalez looks at tax situations in which U.S. residents with IRA and Roth IRA funds relocate to Canada
Practice

Crossing the border, part two: Individual retirement plan tax issues for Canadian and American expatriates

In the second part of a three-part series on cross-border tax issues, Professor George Gonzalez looks at Canadian residents with RRSP and TFSA funds who expatriate to the United States
Practice

Taxpayers Beware: CRA’s new tools for catching tax evasion, avoiding tax debt

As David J Rotfleisch explains, the most recent federal budget included plans to hold tax professionals accountable as well as notices of non-compliance
Practice

Crossing the border, part one: Individual retirement plan tax issues for Canadian and American expatriates

In the first part of a three-part series on cross-border tax issues, Professor George Gonzalez presents an overview of individual employee retirement plans in Canada and the United States
Practice

Active Asset Management v. The King Case Study

Lorne Saltman of Gardiner Roberts LLP on a recent Tax Court dispute as to whether declared dividends and promissory notes constituted a transfer of property
Business

Municipalities not happy about Alberta changes to unpaid oil and gas property taxes

Residential property taxes may increase due to backtracking by the Alberta government over unpaid municipal taxes owed by oil and gas industry producers
Practice

Guide to Canadian tax rules on benefits arising from use of corporate assets (e.g., money, trips, boats, cars, space trips, etc.

What happens when business owners dip into their corporation's pockets to pay for personal expenses? Potentially dire consequences, says David J Rotfleisch
Business

Feds push carbon capture projects forward with public money

Critics say taxpayers will pay the full cost of a dubious Strathcona Resources carbon capture and sequestration project funded by the Canada Growth Fund