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Morneau’s “unintended consequences”

Tuesday October 17, 2017

The Department of Finance’s Backgrounder issued on October 16, 2017 titled “Income Sprinkling Using Private Corporations” is full of contradictions that you need to know about. 1. The government has not lowered taxes for middle class Canadians (still as yet an undefined class [...]

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July 18, 2017 Draft Legislation

Friday September 22, 2017

An open letter to: The Honourable William Morneau The Right Honourable Justin Trudeau Mr. Nathaniel Erskine-Smith, MP Beaches East-York Re: July 18, 2017 draft legislation Dear Sirs: My clients are upset and I am upset too. My clients are hard working [...]

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Ontario Minimum Wage Increases

Friday September 22, 2017

As you may know, Ontario is increasing the general minimum wage rate on October 1st. This latest rate is the result of changes to legislation that was passed in 2014 to tie annual minimum wage increases to the province’s Consumer Price Index. General [...]

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Liberal Proposed Tax Changes Will Hurt the People They are Supposed to Help

Monday September 11, 2017

On July 18, 2017, the Department of Finance released a comprehensive package of proposed legislative changes aimed at private corporations and their shareholders. These changes deal with long- standing practices available to private corporations and their shareholders, such as income splitting with family [...]

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Initial Coin Offering (ICO) Gets Noticed by Canadian Regulators

Tuesday August 29, 2017

Very similar to the well-regulated Initial Public Offering (IPO), of a stock, the Initial Coin Offering (ICO) is an unregulated means of crowdfunding via use of cryptocurrency. During the ICO digital tokens or coins are given to early investors in exchange for money, [...]

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Small Business Owners Respond to Unfair Tax Proposals

Tuesday August 29, 2017

We encourage all of our clients to write to the Minister of Finance (fin.consultation.fin@canada.ca) to provide feedback on the recent proposals to change the income tax rules for business owners. Many good articles have been published, castigating the government for gutting small business [...]

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Employee Recognition

Monday July 31, 2017

One of our tax team members, Vincent Didkovsky, has recently completed the In-Depth Tax course, achieving not only a significant milestone in his professional development, but also being recognized as a class valedictorian, and a co-author of one of the top group projects [...]

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Bye-bye Income Splitting: Government Proposes Changes to the Taxation of Private Corporations

Monday July 24, 2017

Introduction Delivering on the promise made in the 2017 Budget, Finance Minister Bill Morneau recently announced a number of proposed changes to the rules relating to tax-planning strategies using private corporations. These proposed changes were outlined in the consultation paper issued on July [...]

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HST and Importation within the Provinces

Tuesday July 11, 2017

Importation and exportation issues surrounding HST/GST do not just exist when taxable supplies cross the Canadian border but also when taxable supplies are imported to participating provinces. These issues arise as a result of some of the provinces being participating which means that [...]

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