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Baker Tilly Canada Corporate Finance


August 11, 2021 by Steven Frye

Amending tax elections after the fact

The rollover provisions of the Income Tax Act, under subsection 85, permit a taxpayer to elect to transfer "eligible property" to a taxable Canadian corporation in exchange for consideration that includes at least one share of the corporation.

July 9, 2021

Tax changes to the Canadian digital economy

In recent months, the tax treatment of non-resident and resident suppliers (i.e., Wayfair) engaged in e-commerce sales has undergone significant changes. While many of these suppliers were not required to register to collect provincial or Canadian federal sales tax in the past, those obligations have changed.

May 11, 2021 by Steven Frye

What is a Reasonable Error?

The Canada Revenue Agency (“CRA”) does have the discretion to waive tax penalties on excess (or deemed to be excess) contributions to Tax Free Savings Accounts (“TFSAs) and Registered Retirement Savings Plans (“RRSP”)

March 25, 2021 by Steven Frye

Lifetime benefit trusts

A lifetime benefit trust (LBT) is a personal, testamentary trust for beneficiaries that are financially dependent due to mental infirmity. 

February 4, 2021 by Richa Khanna

To compile or not to compile?

Many of you are quite happy with the compilation standards in place today.

The existing standard on compilation engagements was issued in 1987. While it might have been a revolutionary standard in its day, time has come to make this area of practice more relevant to the needs of users in the current day and age.

January 27, 2021

Canadian tax fact sheets 2021

If you want to take a closer look at tax rates in Canada, you’ve come to the right place. The following fact sheets offer a convenient comparison of relevant tax rates from every Canadian province and territory.

January 19, 2021 by Steven Frye

Family trusts and distributions of capital gains

Capital gain splitting on the sale of business interests, owned by family trusts with several beneficiaries, continues to be a valuable tool for tax planning purposes, including the opportunity under certain circumstances to access the super capital gains exemption more than once in such a transaction.