Anxiety, Depression & Phobias: Disability Tax Credit

In an April 3, 2019 Tax Court of Canada case, at issue was whether the impact of an individual’s mental impairment entitled her to the disability tax credit (DTC). The taxpayer suffered from social anxiety, depression and phobias. A taxpayer may be eligible for the DTC if the impairment(s) represents a marked restriction in the ability to perform a basic activity of daily living. In particular, the impairment must affect and permeate the individual’s life…

November 6, 2019
Business – Taxes / Special Interest / Tax Planning

Zero-emission Vehicles: Personal and Corporate Incentives

On April 17, 2019, Transport Canada released details on the purchase incentive of up to $5,000 for zero-emission vehicles as originally proposed in the 2019 Budget. The incentive will apply to new purchases or leases on or after May 1, 2019. To receive the incentive, the manufacturer’s suggested retail price must be less than $45,000 for vehicles with six or fewer seats, while a vehicle with seven or more seats must have a suggested retail…

October 8, 2019
Special Interest / Tax Planning

Reimbursement For Work Clothing: Taxable

In an April 17, 2019 Technical Interpretation, CRA was asked whether clothing reimbursements paid to maintenance employees were taxable benefits. Employees were not required to wear specific uniforms and were reimbursed based on receipts, to an annual maximum. CRA referred to Guide T4130 Taxable Benefits and Allowances, which states that clothing is generally a personal expense, except where either of the following applies: the employee is required to wear a distinctive uniform while carrying out…

September 12, 2019
Business – Taxes / Contractor / Corporate Taxes / Educational Taxes / Individual – Taxes / Personal Taxes / Professionals / Special Interest / Tax Planning

Special Work Site Allowance: Home Base Needed

In a January 29, 2019 Technical Interpretation, CRA discussed the criteria for tax-exempt allowances for board and lodging received for periods an employee was working at a special work site. To be a special work site, the following criteria must be met: the work performed at the location must have been of a temporary nature;the employee must have maintained a self-contained domestic establishment (SCDE) elsewhere which was used as their principal place of residence;the SCDE…

August 30, 2019
Business – Taxes / Corporate Taxes / Individual – Taxes / Tax Planning

Home Buyers’ Plan (HBP): Enhanced Possibilities

The HBP allows first-time home buyers to withdraw amounts from their RRSP to buy or build a home. Budget 2019 proposed to increase the HBP withdrawal limit to $35,000 from $25,000. As the HBP is available to each individual, a couple could access up to $70,000 to assist in a first-time home purchase.

May 30, 2019
Individual – Taxes / Personal Taxes / Retirement / Special Interest / Tax Planning

Commentary on the 2019 Federal Budget

On March 19, 2019 the Honourable Bill Morneau, Minister of Finance, presented the 2019 Federal Budget, Investing in the Middle Class, to the House of Commons. No changes were made to personal or corporate tax rates, nor to the inclusion rate on taxable capital gains.

March 21, 2019
Business – Taxes / Corporate Taxes / Individual – Taxes / Personal Taxes / Special Interest / Tax Planning

Did you buy or sell a house?

CRA highlights relevant tax compliance and planning information if you bought or sold a home.

March 4, 2019
Corporate Taxes / Individual – Taxes / Personal Taxes / Tax Planning

Travel Expenses: Home to Work Site

Although it may be possible to deduct travel amounts against employment income, such amounts are often challenged by CRA.

February 21, 2019
Business – Taxes / Employee Discounts / Individual – Taxes / Personal Taxes / Tax Planning

Upcoming Dates To Remember

Upcoming dates to remember: T4 slips, RRSPs, income tax, and T1s.

February 13, 2019
Tax Planning

Contractor vs. Employee: Agreement On Contractor Status Not Enough

While it appeared the taxpayer believed she was an independent contractor (evidenced, as an example, by her efforts regarding GST/HST collection), the Tax Court of Canada looked into several factors to find that the individual was an employee.

February 11, 2019
Tax Planning

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