Determining the residency of a trust is a fundamental aspect of tax planning and compliance for family-owned enterprises in Canada. Trust residency dictates where the trust will be taxed, which has significant implications for the financial health and legal obligations…
Government Moves to Facilitate Homeowners Adding Rental Suites Putting home ownership back within reach and supporting Canadian homeowners The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced new measures in Budget 2024 to support Canadian homeowners in…
Supporting Affordable Housing: Apply Now for the GST/HST Rebate for Purpose-Built Rentals Supporting affordable housing: apply now for the GST/HST rebate for purpose-built rentals The Canada Revenue Agency (CRA) has announced a new initiative to support affordable housing across Canada…
In a recent video, Prime Minister Justin Trudeau announced a significant increase in capital gains taxes, touting it as a move that targets only the wealthiest Canadians and promises to generate $20 billion in new revenue. But is this really…
In the latest federal budget, Finance Minister Chrystia Freeland has stirred significant controversy with proposed changes to the capital gains tax rates. However, these changes are notably absent from the motion she tabled to introduce the federal budget in the…
Recent events have highlighted a significant issue in the Canadian tax system, which has caused confusion among the public due to inconsistent enforcement and communication by the government. A Tax Court of Canada case involving a Montreal tenant has brought…
In the case of Fundy Settlement v. Canada, the Supreme Court of Canada decided that two trusts were considered residents of Canada for tax purposes because their main business decisions were made by beneficiaries living in Canada, even though the…
The case of Canada (Minister of Citizenship and Immigration) v. Vavilov is a landmark decision by the Supreme Court of Canada that redefined how courts should review decisions made by government agencies. Alexander Vavilov, born in Canada to parents who…
Administrative law is the backbone of how government agencies like the Canada Revenue Agency (CRA) interact with businesses and individuals. Understanding administrative law is essential for family-owned enterprises in Canada to navigate the complexities of tax compliance and effectively challenge…
Receiving a tax audit notice from the Canada Revenue Agency (CRA) can be a stressful experience, especially for families with family-owned enterprises. However, with the right approach and professional guidance, you can navigate this process smoothly and favorably. Here’s a…