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

In previous posts I have discussed setting up a trust to protect your assets from future litigants and potential creditors or judgments against you. One

Read MoreThe Nevis Asset Protection Trust

In my last post I explained what a net worth assessment is. In the recent case of Bousfield v. The King, the Tax Court of

Read MoreHow to challenge a Net Worth Assessment

The Canada Revenue Agency (“CRA”) has many tools available to it for assessing taxpayers with what the CRA believes is unreported income. One of those

Read MoreWhat is a Net Worth Assessment ?

In the case of Gibson v. The Queen (July 23, 2014 – 2014 TCC 236 ) the Tax Court of Canada held that the taxpayer,

Read MoreCourt Says Taxpayers Should Not be Denied Disability Tax Credit Just Because They Don’t Check All of the Boxes on Prescribed Form

An Asset Protection Trust is a trust that holds a person’s assets for the purpose of shielding them from creditors. How does it work? Essentially

Read MoreWhat is an Asset Protection Trust?