CRA Clarifies Proposed Income Splitting Rules

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On July 18, 2017 the government proposed a number of significant income tax changes for small business operating through private corporations in Canada.  Following significant backlash from the business community, the government postponed or eliminated most of these proposals, however, measures ...

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Client Spotlight: Q&A with Veronika Barbakadze – Immigration Solutions the Compassionate Way

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Veronika Barbakadze’s passion for immigration was born out of an unfortunate situation as she watched her mother lose her Canadian refugee status and be deported back to Israel. Two professionals showed her the right way and the very wrong way to approach client representation and the immigration system.

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Bill 148 employment law means big changes for Ontario employers

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Bill 148, the Fair Workplaces, Better Jobs Act, 2017, which significantly amends Ontario labour and employment law, has received Royal Assent and is now law. Earlier in 2017, the Ontario government issued its response to a Final Report two Special Advisors drafted as part of their Changing ...

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2017 Tax changes and how you may be affected

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Ontarians will see many changes to personal, business and real estate taxes come April. Check out our handy guide to some of the biggest changes that will affect you and your wallet.

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Off the Books with Randy Urman: Adapting to Minimum Wage Increases

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Like it or not, the minimum wage is on the rise. Manager Randy Urman considers what these sweeping changes mean for small businesses and offers advice on how to tighten your belt to offset the increases.

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CRA limits Voluntary Disclosure Program

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Bad News From Canada Revenue Agency (if you have been naughty with your taxes…) For many years CRA has had a “voluntary disclosure program” for taxpayers to ‘come clean’ if they have not included taxable items in their tax returns.  The problem may have resulted from an oversight, like ...

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Cryptocurrency: What does the CRA and the IRS want me to report?

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The world of Cryptocurrency is a fast-moving ‘wild-west’ of business transactions.  Fortunes have been made overnight and thieves have accounted for at least $80M in stolen cryptocurrency value.  The industry is moving so quickly that tax authorities in many jurisdictions have not yet decided ...

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OBJECTING TO A CRA ASSESSMENT

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Many times, Canada Revenue Agency (“CRA”) does not accept an income tax return as filed.  There may be a dispute regarding the deductibility of expenses or the characterization of income.  Examples of these items may include: Travel expenses incurred in the course of business activities that ...

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CRA Assessments: Employment Expenses for the Owner/Manager

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In March of 2016 the Canada Revenue Agency asked the government for $444.4M in budget allocation for personnel to be tasked with the review of files for potential assessments.  CRA represented that expected to recover approximately $2.6B in tax revenues. In March of 2017 CRA asked the ...

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