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Business advisory services Tax advisory
Low-Interest environment: Time to take advantage again
In past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust.
Steven Frye Jun 1, 2020
Publications-All about estates
Business advisory services Audit and accounting Private enterprise Tax advisory
Is it time to consider a “refreeze” transaction?
In times of crisis, people can be opportunistic, and this economic turmoil can allow for certain tax planning opportunities. The current economic downturn caused by the COVID-19 pandemic has negatively affected the valuation of many Canadian businesses. Accordingly, it is wise to revisit any estate freeze transactions that may have been implemented at a time in a prior year when the economy was booming.
May 14, 2020
Dark stormy waters with a big whitecap.
Blog Tax advisory Agribusiness
The pros and cons of being classified as a hobby farmer
Know your farm classification to stay tax-compliant and plan ahead.
Katya Loree May 13, 2020
24 AR
Business advisory services Audit and accounting Private enterprise Tax advisory
Business investment losses
In today's business and social environment, more and more owner-managers are struggling to keep their businesses alive. Many find it necessary to inject capital, including personal funds, into their companies.
Apr 23, 2020
Dark stormy waters with a big whitecap.
Tax advisory
Disability Tax Credit claim: Denied on appeal
As many of you know the Disability Tax Credit (DTC) is a credit to income tax otherwise payable, available for those with a severe or prolonged impairment. It is meant to provide some relief from the additional costs and expenses incurred associated with the impairment.
Steven Frye Apr 16, 2020
Publications-All about estates
Business advisory services Succession and estate planning
Time to refreeze: Redux
The freezing of current share value so that your chosen successors can easily participate in the future growth of your enterprise is a common estate planning technique. 
Steven Frye Mar 24, 2020
Publications-All about estates
Business advisory services Audit and accounting Private enterprise Tax advisory
Supporting investment in zero-emission vehicles
The 2019 federal budget introduced two new capital cost allowance classes (class 54 and class 55) providing an accelerated write-off of 100 per cent of the purchase price for new zero-emission vehicles purchased on or after March 19, 2019, and made available for use before 2024. This accelerated write-off is to be phased out between 2024 and 2028, and the write-off of zero-emission passenger vehicles is capped at $55,000 per vehicle.
Mar 17, 2020
A close-up of a blue gemstone.
Audit and accounting International Tax advisory
IRS provides relief for U.S. citizens & residents with certain Canadian registered savings accounts
U.S. citizens and residents who own foreign trusts are often caught by the rules of the Internal Revenue Code section 6048, which requires those individuals to report transactions with, or ownership of, foreign trusts.
Mar 13, 2020
Turquoise waters washing up on a yellow sand beach with two people walking the coastline.
Tax advisory
Clearance certificates
An executor, as the legal representative of the estate, is required to obtain a clearance certificate before distributing property that they control. Where the executor fails to obtain a clearance certificate, they are liable for any unpaid amounts in respect of any property distributed.
Steven Frye Mar 10, 2020
Publications-All about estates
Audit and accounting International Tax advisory
U.S. citizens beware – IRS wants to know about your virtual currency
The U.S. government, along with most governments, has invested resources in understanding cryptocurrency and is developing policies to deal with virtual currency. As of today, Bitcoin still remains the most invested virtual currency on the market with a market cap of approximately $200 billion.
Mar 10, 2020
Turquoise waters washing up on a yellow sand beach with two people walking the coastline.
Tax advisory
Home Buyer's Plan and tax credits after the death of a spouse
During her marriage, a spouse inhabited a home wholly owned by her husband. He passed away and the house became an asset of the estate. Subsequent to her husband's passing, the spouse purchased a new property.
Steven Frye Feb 25, 2020
Publications-All about estates
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