In the 2022 Federal budget, the Canadian Government has proposed a Tax-Free First Home Savings Account (“FHSA”) to assist first-time home buyers in buying a
If I Withdraw Funds from My TFSA Can I Recontribute in the Same Year?
This is a question clients frequently ask me so I thought I should write a blog post about it. Assuming you have made your maximum
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India Imposes Flat Rate Tax on Crypto Transactions
As of April 1,2022, a new flat rate tax for the transfer of digital assets came into effect in India. This tax affects both cyrptocurrency
Why You Should Disclose Your Unreported Foreign Income Now
Canadian residents are taxed on their worldwide income. This includes foreign income such as, business income, interest income, investment income, and foreign pension income, to
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Consider Using “Tax Loss Harvesting” to Benefit from the Downturn in the Stock Market
If you invest in the stock market then you probably know that the market has dropped in recent days. As of the end of February
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“De Facto” Executors or Trustees Can Be Liable For Estate Taxes
If you are an executor of an estate that owes income tax and you distribute funds without first getting a clearance certificate from the Canada
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Tax Consequences of Exchanging Cryptocurrencies
If you exchange one cryptocurrency – say Bitcoin, for example, – for another cryptocurrency – say Litecoin – do you have to pay tax on
Police Investigate Cryptocurrency Exchanges Re: Trucker Protests
According to the Globe and Mail the RCMP have sent letters to cryptocurrency exchanges and financial institutions instructing them to stop facilitating transactions with accounts
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Selling Your Cryptocurrencies
When you sell your cryptocurrency for a profit there are tax consequences. The profit you made is taxable either as a capital gain or as
Converting Your Home to a Rental Property: Don’t Forget to Make This Election
When you convert your home from a principal residence to a rental property, the Canada Revenue Agency (“CRA”) treats it as if you sold your
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