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Recent Publications

Recent Publications

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.

June 3, 2022 by Rock Lapalme

Time is running out to fill your prescription — for a prescribed rate loan, that is

Our new Tax Alert explains how a prescribed rate loan can help lower your tax bill through income-splitting with a lower-income family member. However, the current prescribed rate will soon increase. That means now’s the time to lock in a lower rate to take full advantage of this tax savings strategy.

May 13, 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.

May 4, 2022 by Deepak Upadhyaya

Bored monkey or business model? Finding the commercial value in NFTs

Non-fungible tokens – NFTs – are quickly shifting from a buzzword to business model, according to Deepak Upadhyaya, Digital Technology and Risk practice leader for Baker Tilly Canada. Still, there are key considerations that must be addressed by brands seeking to effectively capitalize on this digital asset.

May 2, 2022

2022 Ontario provincial budget tax highlights

On April 28, the Ontario government released their 2022 budget. The following are highlights of the key tax measures. Disclaimer: The tax proposals provided in the 2022 Ontario budget are subject to change depending on the results of the pending June 2, 2022 election.

April 26, 2022 by Mandeep Gaheer, Hassanatu Timbo

Budget 2022: Adapting international tax measures

Canada is one of 137 members of the Organization for Economic Cooperation and Development (OECD) that have joined the two-pillar plan for international tax reform. Budget 2022 reiterates the government’s commitment to address the challenges arising from the digitalization of the economy, and to work towards implementing both Pillar One and Two.