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Audit and accounting Private enterprise Indirect tax Tax advisory
Is the sale of vacant land by an individual subject to GST/HST?
The sale of vacant land can be taxable or exempt for purposes of GST/HST under the Excise Tax Act. Generally, vacant land sold by individuals is exempt, subject to certain exceptions.
Oct 22, 2021
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Corporate finance Valuations Audit and accounting Tax advisory
The profits and pitfalls of maintaining QSBC share status
Bill C-208's Royal Assent highlights the importance of maintaining QSBC share status for tax planning opportunities.
Sep 21, 2021
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Audit and accounting Private enterprise International Succession and estate planning
Who is more GILTI, Biden or Trump?
The Biden administration’s “Made in America Tax Plan” and what it could mean for U.S. citizens residing in Canada
Todd King Connor MacKenzie May 28, 2021
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Audit and accounting Private enterprise Tax advisory
New business registry created for all Ontario businesses
Updated May 13, 2021, The Canada Revenue Agency (CRA) and Service Ontario announced they are severing ties as of May 15, 2021 regarding the agreement to submit Ontario corporate annual information returns through the CRA’s tax filing system.
May 13, 2021
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Business advisory services Audit and accounting Tax advisory
COVID-19 Emergency Business Supports – Extensions and a new program
With the release of Budget 2021 amid the global COVID-19 pandemic, it was expected that the federal government would expand some of the federal relief programs, as well as introduce new ones. The 2021 budget accomplished both the extension of existing business support programs and the introduction of a new benefit.
Apr 19, 2021
Budget Watch 2021-New and Extended Relief Measures
Audit and accounting Indirect tax Tax advisory
Unreported cryptocurrency: Is voluntary disclosure the right option?
As most cryptocurrency holders are now aware, Coinsquare Ltd. and the Minister of National Revenue have come to an agreement regarding the disclosure of Coinsquare customer account information to the Canada Revenue Agency (CRA).
Riccardo Zerbino Apr 6, 2021
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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 Income Tax Act 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.
Mar 24, 2021
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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
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Business advisory services Audit and accounting Private enterprise Tax advisory
The revised T1134 form
The revised T1134 Information Return Relating to Controlled and Non-Controlled Foreign Affiliates 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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Business advisory services Audit and accounting Private enterprise Tax advisory
Farmers and cash-basis accounting: be wary of the word “deemed”
The Income Tax Act (ITA) permits farmers to elect to compute their income from a farming business for a taxation year on a cash basis.
Feb 5, 2021
Green farm land with varying grass lengths creating an interesting organic pattern.
Business advisory services Audit and accounting Private enterprise Tax advisory
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.
Feb 4, 2021
Publications-To compile or not to compile?
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