Newsletters
The information provided here is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a newsletter such as this, a further review should be done by a qualified professional. No individual or organization involved in either the preparation or distribution of this letter accepts any contractual, tortious, or any other form of liability for its contents.
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In This Issue:
ENHANCING THE VALUE OF OWNER-MANAGED BUSINESS: Starting the Transition Early
SALARIES TO FAMILY MEMBERS: Amounts Paid Must be Traceable
DIRECTOR LIABILITY: Properly Resigning
PROVIDING SUPPLIES TO YOUR CONTRACTORS: GST/HST Issues
LIFE INSURANCE POLICIES: Using Tracking Shares
WITHDRAWING FROM FAMILY RESPs: Flexible Planning Possibilities
HOLDING DIGITAL ASSETS IN RRSPs: Pitfalls and Possibilities
WORKSPACE IN HOME CLAIMS: CRA Reviews
Principal Residence Exemption: CRA Project
In early 2022, CRA began to send out education letters in respect of individuals claiming the principal residence exemption (PRE) in the British Columbia region.
Buying and Selling a Home: Budget 2022 Proposals
The 2022 Federal Budget included several proposals that would significantly change the taxation environment when buying and selling a home. Broadly, the government proposed various
Enhancing the Value of Owner-Managed Business: Starting the Transition Early
Many owner-managers are shocked at both the difficulties in finding a buyer for their business and the low prices an owner-managed business often commands. A
Canada Emergency Response Benefit (CERB): Repayments
Self-employed individuals whose net self-employment income was less than $5,000 will not be required to repay CERB, as long as their gross self-employment income was
Covid-19 Medical Expenses: Tax Treatment
Medical expenses eligible for a personal tax credit are limited to those specifically provided for by the Income Tax Act. While an expense may clearly relate to an
Travel Allowances: Limited Distance Covered
In a March 5, 2021 French Technical Interpretation, CRA commented on whether a travel allowance paid to employees on a per kilometre basis, but only