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Business advisory services Audit and accounting International Tax advisory
“Show me your papers, please”: zero-rated supplies of exported goods
The Excise Tax Act provides that generally, the supply of goods made in Canada is taxable for GST/HST purposes, and it is the responsibility of the supplier to collect the applicable GST/HST on taxable supplies.
Sep 17, 2020
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Tax advisory
Bare trust
A bare trust, also referred to as a naked trust, exists where a person, the trustee, is merely vested with the legal title to property and has no other duty to perform or responsibilities to carry out as trustee, in relation to the property vested in the trust.
Steven Frye Jul 8, 2020
Publications-All about estates
Business advisory services Audit and accounting Private enterprise Tax advisory
The exit of a family farm shareholder
When a shareholder of a family farm wishes to exit the farm operation—whether due to retirement, disagreement with other shareholders, or a desire for a lifestyle change—and there is no shareholders’ agreement in place to dictate the procedures for buyout, negotiations are required between the exiting shareholder and the remaining shareholder(s).
Kathy Byvelds Jul 2, 2020
Green farm land with varying grass lengths creating an interesting organic pattern.
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Tax advisory
TSFA's and survivor payments: Impact of fair market value
In this space, sometime ago, a fellow blogger wrote about how survivor payments made out of a deceased's tax free savings account (TFSA) to the deceased's spouse TFSA would qualify as an "exempt contribution"... 
Steven Frye Jun 24, 2020
Publications-All about estates
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.
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 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.
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
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