Tax planning for business or for individuals and families is an ongoing process to reduce the overall taxes owing by the business and ultimately by the owners and family. When setting up and running a business a teamRead more
Tax Audits, Problems & Representation
A CRA audit is the start of the tax investigation and a Canadian taxpayer needs professional representation from the start. Never speak to CRA by yourself. Always have your Canadian tax lawyer deal with CRA on your behalf.Read more
The voluntary disclosure program allows you to avoid prosecution or penalties for unreported income or offshore assets by having one of our Canadian tax amnesty lawyers approach CRA on your behalf before they approach you.Read more
Unpaid tax debt and CRA Seizures
If CRA has assessed you for income taxes or GST owing and you have not made acceptable (to CRA) payment arrangements, a CRA collections officer will commence enforcement action.Read more
CRA can and does lien salary and seize assets and bank accounts without a court order. CRA can and does show up at your home and place of business. Our top Canadian tax lawyers will protect your rights and will fight for you.
Taxpayer Relief (Fairness Application)
In some limited circumstances CRA will eliminate or reduce interest or penalties that they have charged you. A taxpayer relief application (fairness application) can be submitted when circumstances out of your control resulted in penalties and interest owing to the Canadian tax department. Read more
Tax Court Appeals
Once a Notice of Confirmation from the Canada Revenue Agency confirming the audit assessment is received, the next level of disputing a tax assessment/reassessment is to have your Canadian Tax Litigation Lawyer file a Notice of Appeal with the Tax Court of Canada.
Subscribe to our Newsletter
Get the latest tax news from us
Income Splitting Tax Planning – Window Closing On Low Rate Loans
The federal prescribed interest rate for income tax for the fourth quarter of 2013 will increase to 2%. As the rate is presently 1%, a tax planning opportunity exists provided all planning is in place prior to October 1,2013.If a higher income spouse lends funds to a lower-income spouse and charges the prescribed interest rate throughout the period in which the loan is outstanding
A not for profit organization is required to file an annual Canadian tax return. If the non-profit organization earned profit and made more than what the organization “reasonably needs” to operate, the organization will lose its tax- exempt status.
CRA Targeting Middle Income Taxpayers
CRA (the Canadian Income Tax department) has recently focused on middle income Canadian taxpayers. CRA conducted cross-country pilot projects to help develop techniques for fighting the underground economy, auditing , for example waitresses in St. Catharines, Ont., “curbersiders,” unlicensed dealers who sell used vehicles for cash in Burnaby,
The advantage of an RRSP is that amounts contributed are deductible from income and the profits earned in the RRSP portfolio are free of tax when earned. However the downside to these retirement savings plans is that all income that is withdrawn is fully taxable upon receipt.
Stop International Tax Evasion Program
The 2013 Federal Budget has proposed the “Stop International Tax Evasion Program” (“SITEP”). SITEP allows informants to disclose information regarding tax evasion to CRA in exchange for payment.
Tax Free Savings Account
CRA has announced that the annual Tax Free Savings Account (“TFSA”) contribution limit remains at $5,500 for 2015.
Problems with the tax man require immediate response by one of our top Canadian income tax lawyers. The initial CRA contact will usually be either from an auditor or a tax collections officer. We will help you so that you can sleep at night. Taxpayers are often overwhelmed by a tax assessment or a Tax Statement of Account that shows a balance owing that is impossible to pay. One common reaction is to ignore it since you can’t afford to pay. Read more
TAX PLANNING – INCOME SPLITTING
A Canadian taxpayer’s income tax bracket and therefore the income tax liability depends on the absolute amount of the taxpayer’s income because the higher theincome the higher the income tax bracket and the percentage of income tax paid. Income splitting is a tax planning strategy whereby one taxpayer transfers a portion of his/her own income to another taxpayer who is taxed at a lower tax rate. There are various income splitting techniques that can be used.Read more
CRA Awarded Court Costs Against Taxpayer
In the recent Tax Court of Canada case of The Standard Life Assurance Company of Canada v The Queen...
Deduction denied due to No Records
The Tax Court of Canada denied deductions in the case of G Hill Fai Investments Ltd. v The Queen 2011-3317(IT)...
Requirement for CRA to Assess Tax Shelters with Due Dispatch Confirmed by Federal Court
In McNally v. Canada (National Revenue) (2015 FC 767), a case where CRA did...