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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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Who can file Joint Tax Returns in the United States?

Thursday August 10, 2017

Generally, married taxpayers may elect to file a joint return or file as married persons filing separately. In most cases, it is more beneficial for married taxpayers to file a joint return. Spouses may file a joint return even though one spouse has [...]

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Recent Proposals to Amend the Income Tax Act

Tuesday August 8, 2017

Dear Mr. Morneau, I am writing to express my concern, and dismay, at the direction taken by the Government of Canada recently. The draft legislation released last month, if passed into law, will siphon the fuel from the engine of the Canadian economy [...]

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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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Employer Health Tax Changes

Monday June 5, 2017

The Employer Health Tax Act includes measures that address tax avoidance structures by incorporating the association rules from the Federal Income Tax Act. As a result of the application of the association rules, a group of associated entities is treated as a single [...]

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Investing your Tax Refund

Wednesday May 10, 2017

Tax season is finally over and May is the month that brings tax refund cheques to many Canadians. However, anyone have put any thoughts about what to do with this tax refund? Let’s think about how to invest that money to make the [...]

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2017 Ontario Budget Commentary

Friday April 28, 2017

Introduction Finance Minister Charles Sousa tabled the Ontario Budget on April 27, 2017. The deficit for the 2016-17 fiscal year is projected to be $1.5 billion, with a balanced budget projected for 2017-18, 2018-19 and 2019-20. The Budget does not include any changes [...]

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Tax News of the Week

Wednesday April 5, 2017

One of the fundamental differences between Canadian tax and US tax is the basis for taxation. Canada taxes its residents on worldwide income, whereas, the US taxes not only residents, but also non-resident US citizens, on their worldwide income. As a result, anyone [...]

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