Recent Publications

Recent Publications

January 20, 2023 by Bud Arnold

Intergenerational farm rollovers

Family business succession planning involves many components, including family dynamics, leadership training, financial planning, management transition, legal agreements and ⁠–⁠ you guessed it ⁠–⁠ taxes.

January 18, 2023

2023 tax deadline calendar

With so many Canadian and U.S. tax deadlines spread throughout the year, everyone could use an occasional reminder. Our 2023 tax deadline calendar provides a convenient month‑by‑month summary of key dates that could apply to you. You might even notice a few obligations that slipped your mind. If you don’t like getting caught by surprise, you’ll love our tax deadline calendar.

December 20, 2022 by Kale Donald

Rights or things: Farm inventory on a cash basis

When a farmer who operates a farm through a proprietorship ⁠–⁠ that reports income for tax purposes under the cash method ⁠–⁠ passes away, there are a number of options available for how the farm inventory left behind will be treated for tax purposes. It is very important that executors of the estate understand the options available to them. This alert addresses tax planning options that are often overlooked when dealing with the estate of a farmer.

December 13, 2022 by Shelley Smith

Borders without (tax) boundaries – Navigating U.S. returns in a cross‑border setting

United States citizens and Green Card holders are both considered U.S. persons, regardless of where they live. U.S. persons living outside the U.S. (such as in Canada) must continue to file U.S. tax returns annually, even if they have no income from the United States. For such individuals, there are mechanisms to avoid or reduce U.S. tax exposure and, in many cases, end up owing no U.S. tax at all. Still, failure to file returns, related forms and certain foreign information reporting can result in significant penalties.

November 30, 2022 by Mandeep Gaheer

Addressing the proposed EIFEL rules

On Feb. 4, 2022, the Department of Finance (Finance) introduced draft legislation relating to Excessive Interest and Financing Expenses Limitation (EIFEL) rules, which implement the recommendations in Action 4 of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) project.

November 17, 2022 by Mike White

Recruitment and retention: deliver a “signature” career experience!

So, what am I hearing these days from firm leaders? It’s something along the lines of, “We have no trouble finding demand for our services—all practice groups are maxed out and then some! We are having trouble attracting, recruiting and retaining the right lawyers we need to do the client work. Over time, of course, we know the inverse will be true, but how do we deal with the here and now?”

November 17, 2022 by Jordan Furlong

The associate salary deception

When your average baseball fan goes to a ballgame these days, invariably they grumble about the expense—$50 tickets, $15 beers, $9 hot dogs, and so forth. “It’s those greedy players,” they complain to the fan in the next seat, “They make millions of dollars, so the club has to charge high prices for everything. They should be grateful just to have a job in this economy.”

November 17, 2022 by Jordan Furlong, Kristen Dallman, Gerry Riskin, Mike White

Advancing your firm’s growth, leadership and success

In today’s legal landscape, firms must continually consider and evaluate how they operate. A big part of this is being ready to address and adapt to new circumstances and challenges. With this in mind, our latest Lawyers Alert examines a variety of relevant topics, including the true economics of associates’ compensation, optimizing your firm’s strength in attracting top talent and how to effectively ⁠–⁠ and tactfully ⁠–⁠ manage client expectations. We invite you to review the feature articles below, as they offer valuable perspective, insight and commentary.

November 17, 2022

Canadian tax fact sheets 2022

If you want to better understand Canadian tax rates in 2022, you are in the right place. We have compiled the following fact sheets to provide a convenient comparison of relevant tax rates for every Canadian province and territory.

November 1, 2022 by Kimber Amping

Gratuities and tips – time to revisit payroll practices

Tips are in the news, again! Recently, a restaurant’s tips policy made it all the way to the Federal Court of Appeal to decide whether the service staff tips are subject to Canada Pension Plan (CPP) and Employment Insurance (EI). With customers increasingly tipping electronically, the decision in this appeal is very relevant.

October 25, 2022 by Gary Chow

To file or not to file – Considerations for late‑filed GST/HST section 156 elections

GST/HST is generally applicable when property and/or services destined exclusively for commercial purposes are supplied by a closely related party who is registered for that tax. To simplify tax accounting and improve cashflow, certain closely related Canadian corporations and partnerships can elect under subsection 156(2) of the Excise Tax Act, via Form RC4616, to treat certain supplies by a closely related person as if they were made without consideration.

September 22, 2022 by William Bishop

Selling Canadian property as a non-resident

Over the past two years, real estate prices have soared in many areas of the country, and increasing sales prices combined with the growing difficulty crossing the border due to the pandemic has led to a dramatic increase in non-residents selling cottages, rental properties and commercial properties in Canada.

July 26, 2022 by Riccardo Zerbino

Voluntary Disclosures Program not to be taken lightly

Our new Tax Alert highlights how past amendments by the Canada Revenue Agency (CRA) to the Voluntary Disclosures Program (VDP), along with recent court decisions, demonstrate the VDP should be used with extra caution. For those seeking immunity from interest and penalties, it is clearer than ever the VDP has become more restrictive, signaling the CRA’s heightened desire to combat tax evasion.

June 30, 2022 by Sarah Perrin, Carl Scholz

Amendments to the General Anti-Avoidance Rule – subtle changes not to be ignored

Our new Tax Alert explains how subtle yet significant proposed amendments to the General Anti-Avoidance Rule (GAAR) can provide taxpayers and the Canada Revenue Agency (CRA) greater certainty and clarity. These proposed changes may also help reduce impractical and inefficient use of CRA resources. It all adds up to a proposal that should not be ignored.