THE INTENT: REAL ESTATE DISPOSITIONS
Be clear with your intent, especially when it comes to real estate. Given the new levels of heightened scrutiny by the Canada Revenue Agency (“CRA”) here in B.C., where real estate transactions are being targeted, it would be wise not to try and “cheat” the tax-man. It is amazing how many individuals do not report […]
DENTISTRY AND GST
Dentists are in an interesting position when it comes to GST. The services you offer lands you into one or more of three possible tax categories. The value of understanding this structure allows you the opportunity to recover some of the GST you pay on their purchases. Most businesses can recover the GST they pay […]
PRESCRIBED-RATE LOANS: BEST THING SINCE SLICED BREAD
Before all this commotion about income splitting and the many ways that corporations, trusts and partnerships could allocate income to lower tax-bracket individuals, there has been in place for quite some time a very simple tool. This tool is known as the prescribed-rate loan. Generally, the income attribution rules under subsection 74.5(2) of the Income […]
TAX WARS: THE CORPORATE MENACE
Addressing Tax Reform on Both Sides of the Border Looking back on 2017, I personally have never seen so much activity in tax reform that completely overhauled existing policy on both sides of the border in one year . The consequences of these tax reform changes are to be far reaching and while still in […]
Death of the Voluntary Disclosure Program
Recent changes to the Voluntary Disclosure Program are part of a federal trend in clamping down on tax evasion and aggressive tax avoidance. This can be seen in cases involving the use of tax havens by private corporations. We have already seen the Federal Liberal government has been scaling back the financial benefits of owning […]
Crypto Currencies & Taxation
Within the crypto currencies investing realm, 2017 will forever be remembered as the year of irrational exuberance, where everyone from your barber to gym buddy was talking about the investing in Bitcoin or the next big alt coin (alternative coin other than Bitcoin). In 2018, at the time of writing this article, crypto currency is […]
