Month: April 2023

In the recent case of Canadian Western Trust Company as Trustee of the Fareed Ahamed TFSA v. The King ,the Tax Court of Canada ruled

Read MoreCourt Rules Profits from Day Trading in a TFSA are Taxable

The Canada Revenue Agency (the “CRA”) has wide audit powers set out in the Income Tax Act (the “ITA”). They can request a taxpayer to

Read MoreCRA auditors now have extended powers

Workers at the Canada Revenue Agency (CRA) voted in favour of strike action yesterday (Friday April 7, 2023). The Public Service Alliance of Canada (“PSAC”)

Read MoreCRA workers vote in favour of strike

The Underused Housing Tax (“UHT”) is an annual tax of 1 % on the ownership of vacant or underused housing. The UHT is payable by

Read MoreThe deadline for filing the Underused Housing Tax return is May 1, 2023.

If you make significant changes to your home to establish a place of business, then that portion of the home would be disqualified from the

Read MoreBe careful of making changes to your home to run a business