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Tax advisory
Lifetime benefit trusts
A lifetime benefit trust (LBT) is a personal, testamentary trust for beneficiaries that are financially dependent due to mental infirmity. 
Steven Frye Mar 25, 2021
Publications-All about estates
Tax advisory
Some Ins and Outs of RRSPs & RRIFs transfers on death
Generally, the RRSP or RRIF of a deceased can be transferred by specific bequest under the terms of the deceased's will to a qualifying survivor tax-free. 
Steven Frye Mar 24, 2021
Publications-All about estates
Audit and accounting Private enterprise Indirect tax Tax advisory
Pay now… or maybe not?
Where a person receives an assessment for income tax purposes and files an objection, the <em>Income Tax Act</em> prevents the CRA from taking collection measures in most cases until the objection is settled. However, the CRA is not subject to the same restraint where a person is assessed for GST/HST purposes. Section 315 of the <em>Excise Tax Act </em>(ETA) provides that, where a notice of assessment is issued, any amount assessed (including interest and penalties) becomes payable “forthwith” – meaning immediately.
Mar 24, 2021
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Business advisory services Audit and accounting Private enterprise Tax advisory
2021 New Brunswick provincial budget tax highlights
On March 16, 2021, the New Brunswick government released their 2021 budget. The following are highlights of the key tax measures.
Mar 19, 2021
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Getting Ready For Tax Season 2020
The time has come to begin thinking about the preparation and timely filing of your 2020 personal income tax returns.
Mar 12, 2021
Publications-Getting ready for tax season
Business advisory services Private enterprise Indirect tax Tax advisory
2021 Alberta provincial budget tax highlights
On February 25, 2021, the Alberta government released their 2021 budget. The following are highlights of the key tax measures.
Mar 12, 2021
A close-up of a blue gemstone.
Audit and accounting Tax advisory
Trust reporting – lawyers beware
On July 27, 2018, the Department of Finance proposed changes to the <em>Income Tax Act</em> to require trusts to file T3 Trust Income Tax and Information Returns to provide prescribed information, applying to non-excepted trusts having taxation years ending after December 30, 2021.
Mar 10, 2021
Birdseye view of a dense, green forest.
Grants and incentives Tax advisory
Wage and rent support extended to June
The Canada Emergency Wage Subsidy (CEWS) and the Canada Emergency Rent Subsidy (CERS) were legislated to be available until June 2021 with details of the program provided up to March 13. On March 3, the Department of Finance announced the details for the final three claim periods covering March 14 to June 5, 2021.
Mar 9, 2021
A close-up of a blue gemstone.
Business advisory services Audit and accounting Private enterprise Tax advisory
Farmers and the alternative minimum tax
In recent years, farmland prices have increased significantly across many parts of Canada. At the same time, the average age of the Canadian farmer has risen as well, leading to many farms being transferred to next generations or sold to third parties.
Feb 24, 2021
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
The revised T1134 form
The revised T1134 <em>Information Return Relating to Controlled and Non-Controlled Foreign Affiliates</em> was officially released in February 2021. It includes additional questions and more detailed disclosure with a goal of clarifying and enhancing compliance requirements.
Feb 19, 2021
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How to maximize tax benefits for farm vehicles
While many of the vehicles purchased by farm businesses – such as tractors and other farm machinery – are used exclusively for business purposes, some road-going vehicles (i.e., pick-up trucks, vans) can also be used outside the farm business, which causes complications from a tax perspective. 
Feb 18, 2021
Farm Series ( use going forward)
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