Read the last articles about the DT Professional Suite
Canadian tax updates and new trends
Non-Arm’s Length Sales of Shares
September 1, 2020
In the previous instalment of the blog, we spoke about estate freeze techniques. Within that instalment, we mentioned about the potential negative effects of section 84.1 of the ITA when performing an estate freeze. How does section 84.1 potentially penalize a taxpayer? What are the technical rules? This article will explain.
Estate Freeze Techniques
July 27, 2020
In the first instalment, we saw the basics of estate freezes. In this instalment, we will see how to perform an estate freeze through various techniques.
Introduction to Estate Freeze
May 27, 2020
Estate freezes are a powerful tool in the tax arsenal of a family corporation. They allow for the tax-efficient transfer of a corporation from the originator to the next generation. What are they, and why should they be considered? This article will explain.
Government support measures for seniors during the COVID-19 pandemic
May 20, 2020
The federal government recently announced new measures to help seniors during the coronavirus pandemic. What are they? Let’s find out.
Government support measures for businesses during the COVID-19 pandemic
May 11, 2020
The Federal government has announced support measures for businesses affected by the COVID-19 pandemic.
Government support measures for individuals during the COVID-19 pandemic
April 27, 2020
The Federal government has announced support measures for individuals who have lost their income during the COVID-19 pandemic.
Section 85 rollovers
April 14, 2020
Section 85 of the Income Tax Act (ITA) is an important tool in the tax arsenal of corporations. It can be used in many instances to defer taxation for certain transactions, especially complex corporate structures. In this article, we will see the ins and outs of this important section of the ITA.
Canada Emergency Wage Subsidy (CEWS)
April 8, 2020
The federal government recently announced a wage subsidy to help businesses keep their staff working during the COVID-19 pandemic. What is it, and how does it work? Let’s find out.
Economic Response Plan and changes to the tax return filing deadline due to the Coronavirus (COVID-19)
March 20, 2020
The Federal and Quebec governments announced changes that relate to the tax filing deadline, and other measures due to the Coronavirus (COVID-19). Read on to get the details.
Foreign asset reporting in Canada
March 02, 2020
The Income Tax Act (ITA) requires all Canadians to report foreign assets held that are above a certain threshold. Here are the detailed rules of this reporting.
Tax update 2019
February 10, 2020
In this article, we will see the major changes that are coming to the 2019 tax return.
Salaried vs commission employee
August 22, 2019
In this instalment, we will see the differences between what can be claimed as employment expenses between a salaried employee and a commission income employee, and how we can optimize the employment expenses claim.
Climate Action Plan and Incentive
July 25, 2019
In this instalment, we will see the basic mechanics of the federal Climate Action Plan, and the related Climate Action Incentive.
Accelerated Investment Incentive
June 26, 2019
In the 2018 fall economic statement, the federal government announced substantive changes in the calculation of Capital Cost Allowance (CCA). This article will summarize these changes.
Sales Tax Special Topics
May 21, 2019
In the previous instalment of the DT Max blog, we went through some of the basics of sales taxes. In this instalment, we will see more advanced topics, such as determining residence, and other special topics.
Basics of Sales Tax
April 08, 2019
The GST/HST and QST are governed by a complex set of rules and regulations as set out by the excise tax. This article is a good starting point to understanding these rules.
Tax Changes
March 29, 2019
In this article, we will see the major changes that are coming to the 2018 tax return.
Tax Changes - Quebec
March 29, 2019
In this article, we will see the major changes that are coming to the 2018 tax return.
Snowbirds
January 03, 2019
The age-old Canadian tradition for retirees: when it starts getting cold outside, Canadians will “flock” to the warmer shores of the United States.
Corporate Passive Income Taxation Changes
September 19, 2018
In the July 2017 announcement, the federal government announced some significant changes to the taxation of passive income within corporations, specifically CCPCs. After a strong backlash from business owners, the government released a more “watered down” version of these changes in the 2018 budget.
Death and Taxes are Unavoidable: Tax implications during the year of death
August 24, 2018
Death and taxes. The 2 certainties of life! What are some of the tax implications when someone dies? Read on to find out.
Tax on Split Income Changes
July 06, 2018
In the July 2017 announcement, the federal government announced some significant changes coming to the tax on split income rules. The changes became official with the December 2017 proposals. In this instalment, we take an in-depth look at these new rules.
Separation - Positive and negative tax consequences
April 12, 2018
In this installment, we will see all the tax implications we need to consider when a separation happens between a married or common-law couple.
Tax Firm Preparation for Tax Season
March 29, 2019
We are already at the beginning of a new year! Tax season is around the corner and now is the time to prepare your firm for the upcoming season. What can you do to get ready? Read on…
Common-Law Spouses
January 09, 2018
Much has been written about taxation and its incidence on common-law spouses. This article will delve into certain considerations to look into when it comes to common-law spouses, and pitfalls to avoid in certain specific cases.
Securing Your Tax Practice - Data Breach Plan
November 06, 2017
The unthinkable has happened: there has been a breach of your data networks. What is the proper response in such a situation?
Securing Your Tax Practice - Safeguarding Your Data
October 24, 2017
In the first part of this series, we saw how the engagement letter can be an indispensable tool to protecting your tax practice. In the second part of the series, we will see how to properly secure your client’s data.
Securing Your Tax Practice - Engagement Letter
October 11, 2017
Securing your tax practice is a crucial component of your business. An engagement letter is one such tool that allows you to protect your business. In this instalment, we will see what should be included in a proper engagement letter.
Depreciable Properties
August 15, 2017
In a previous instalment, we discussed the differences between a capital and a current expenditure. In this instalment, we will expand on the definition of depreciable properties by presenting some interesting perspectives provided by case law.
Eligible Capital Property Changes
July 26, 2017
Many changes have been brought to the treatment of Eligible Capital Properties (ECP) for tax years 2017 and afterwards. This instalment will explain these changes.
Capital vs Current Expenditures
July 10, 2017
The age-old question of taxation: is the expenditure incurred by the taxpayer a capital or a current expenditure? In this instalment, we will see the criteria that must be analyzed in order to determine the type of expense, and analyze certain interesting real-life cases on this topic.
CCA vs Potential Recapture
May 25, 2017
When owning a rental property, an important tax planning consideration is whether or not to claim Capital Cost Allowance as an expense. In this article, we will take a look at the factors that should be considered when deciding on whether to take CCA.
Principal residence disposition - Special topics
May 03, 2017
In the first article, we learned about the basics of a principal residence disposition. Now we will see special topics that affect the principal residence disposition.
Principal Residence Disposition
April 10, 2017
The sale of a principal residence can be a complex transaction to enter on a tax return. Let’s have a look in detail at some of the concepts as well as other considerations that have to be taken into account when designating a property as a principal residence.
EFILE: What do the tax authorities actually receive when you transmit?
March 23, 2017
The EFile program, offered by both the Federal and Quebec governments, has allowed tax preparers to transmit electronically their clients’ tax returns in an efficient manner.
Objection to an assessment – Part 2
February 14, 2017
In the first part of the series, we saw the way to contest a notice of assessment with the CRA through a Notice of Objection. But what happens if the CRA does not rule in your favour? Read on to find out…
Objection to an assessment – Part 1
February 14, 2017
Was your client assessed incorrectly by the CRA? Did you contact the CRA to try to rectify the assessment with no success? Read on to learn about the procedures to properly object to the CRA’s assessment.
When it comes to audits from the CRA: what are the ground rules for the Agency and your client?
January 31, 2017
Is your client being audited by the CRA? What does the Income Tax Act (ITA) stipulate as to what the CRA can and cannot do during an audit? Let’s find out…