The recent rollout of new tax-filing requirements by the Canada Revenue Agency (CRA) underscores a classic case of good intentions paved with bureaucratic inefficiency. Aimed at curtailing tax evasion and money laundering, the CRA has broadened its reach, ensnaring everyday…
In the realm of tax planning, the line between strategic financial structuring and abusive tax avoidance can sometimes blur. The landmark case of Lipson v. Canada, adjudicated in 2009, serves as a pivotal guidepost for families and their advisors in…
In the dynamic landscape of Canadian tax law, understanding the intricacies of tax assessments and reassessments is paramount for taxpayers, especially those involved in family-owned enterprises. As a Chartered Professional Accountant (CPA, CA), with advanced degrees in Tax Law (LL.M…
In the intricate landscape of Canadian tax law, understanding the fine line between lawful tax planning and the realm of abusive tax avoidance is paramount for businesses and individuals alike. The origins of modern tax planning principles can be traced…
Retirement planning is a crucial aspect of ensuring the longevity and prosperity of your family enterprise. Let's explore the top 10 tax considerations to keep in mind as you plan for a seamless transition into retirement. Succession Planning and Tax…
Documentation of your medical expenses are important to support your claims. While this could be a significant non-refundable credit, CRA does often request support for this deduction. This credit can provide significant tax relief, but it requires meticulous documentation and…
In the dynamic landscape of family-owned enterprises in Canada, navigating the complexities of financial growth, tax planning, and wealth preservation requires more than just business acumen—it demands a strategic partnership that understands the intricacies of owner remuneration and the profound…
As we approach retirement, understanding the various sources of income and their tax implications becomes crucial for effective financial planning. For families with family-owned enterprises in Canada, this knowledge is even more critical. In this blog post, we'll explore the…
Introduction to Maximizing Capital Cost Allowance (CCA) Benefits for Family-Owned Enterprises Navigating the world of taxes can often feel like trying to find your way through a dense forest without a map. For Canadian family-owned enterprises, understanding and utilizing the…
Navigating the complexities of tax savings for families with children in Canada can be a daunting task. However, understanding the available benefits and deductions can significantly alleviate the financial burden of raising a family. Here are some essential tips and…