These articles are for educational purposes only. As it is impossible to include all situations, circumstances, and exceptions, a further review should be done for your situation. No organization or individual involved in either the preparation or distribution of these articles accepts any contractual, tortious, or any other form of liability for its contents. For any questions please give one of our principals a call: 250 370 2191 (James #2; Richard #7).

Employees Working From Home During COVID-19: Personal Tax Deductions

Due to the COVID-19 pandemic, many employees worked from home during a portion of 2020. On December 15, 2020, CRA released guidance on two new options available for employees claiming expenses related to working from home on their personal tax return. While this will clearly impact an employee’s personal tax filing, it should also be considered by employers. A key question employers need to answer is whether they should provide an employer certification in respect…

Post published:March 29, 2021
Post category:Individual – Taxes Personal Taxes Special Interest Tax Planning

Canada Emergency Rent Subsidy: More COVID-19 Support

The Canada Emergency Rent Subsidy (CERS) provides a federal subsidization of expenses associated with both commercial rental payments and property ownership. The program commenced on September 27, 2020 and is scheduled to continue until June 2021. The CERS program parallels the Canada Emergency Wage Subsidy (CEWS) program in that it is largely based on the same revenue decline calculations and related elections. Also, the periods covered by each CERS application are four-weeks in length, and…

Post published:March 22, 2021
Post category:Special Interest Tax Planning

Canada Emergency Wage Subsidy: Public Listing of Applicants

On December 21, 2020, CRA launched the Canada Emergency Wage Subsidy (CEWS) Employer Search, which allows users to search a listing of 340,000 CEWS applicants. The results, which are updated daily, display the legal name, operating/trade name, or business number of corporations (other types of entities are not listed) that have been approved for the CEWS. It does not include the amount received or the periods for which CEWS was received. The search database can…

Post published:March 22, 2021
Post category:Special Interest Tax Planning

OAS Deferral: Undoing and Application

Photo by Tristan Le from Pexels As of July 1, 2013, where receipt of Old Age Security (OAS) is delayed, the monthly pension is increased by a factor of 0.6% for each month deferred, to a maximum increase of 36% (60 months, commencing receipt at age 70). In a March 25, 2020 Federal Court case, the Court reviewed Service Canada’s decision to deny relief to an individual who applied to cancel his OAS pension slightly more than one…

Post published:November 6, 2020
Post category:Individual – Taxes Personal Taxes Special Interest Tax Planning

Contributions of Goods or Services to a Non-Profit Organization: Tax Implications

In a January 6, 2020 Technical Interpretation, CRA considered whether a deduction was available to suppliers who contributed in-kind goods or services to an NPO withthe expectation that they would benefit from word of mouth advertising and promotion. Where the supplier is providing goods or services to an NPO in exchange for advertising and/or promotional services, a barter transaction may have occurred. As such, the typical rules for barter transactions would apply. In arm's length…

Post published:July 23, 2020
Post category:Business – Taxes Charities Special Interest

Home Accessibility Renovation Credit: Increase in Home Value?

When applying for the home accessibility tax credit (HATC), valued at 15% of up to $10,000 in expenditures per year, does it matter if the renovation increases the value of my home? Yes, and No. In a December 12, 2019 Tax Court of Canada case, at issue was whether the taxpayer was eligible for a HATC claim for $10,000 of qualifying renovations for the 2016 year, the first year of this credit. The taxpayer’s spouse…

Post published:July 17, 2020
Post category:Special Interest

Photo by Stefan Lorentz from Pexels

Reporting Tips for Service Workers

Tips received by servers and other individuals in the service industry are taxable. However, since tips do not show up on T4 slips, some taxpayers are under the false understanding that they are either not taxable, or only partially taxable. In a February 3, 2020 Federal Court of Appeal case, the Court upheld the Tax Court decision that tips received by the taxpayer from his employment as a slot attendant at a casino were properly…

Post published:June 26, 2020
Post category:Business – Taxes Personal Taxes Special Interest Tax Planning

How to pick up your 2019 Tax Material

If you would like to pick up your documents please call reception to set up a time: 250-370-2191 extension 0. Once you are in the parking lot, please call again to let us know you are here and we will place your documents (in a folder or envelope) inside our Drop Off / Delivery box for you to pick up.

Post published:June 11, 2020
Post category:Special Interest

Resources

General Resources regarding assistance during Covid-19

Post published:April 1, 2020
Post category:Special Interest

COVID-19 Response

For information about how to pick up your tax material that you dropped off please click here. Our office is closed to the public and we are unable to offer an estimated time your tax return will be completed – we will call you when it is ready. Create a 2020 folder with your nameScan or take a photo of all your papers to the folder using appropriate file namesUpload your contents (or create one…

Post published:April 1, 2020
Post category:Special Interest

Tax Articles