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March 29, 2022
By: Bruce Laregina The CRA has updated the way it handles voluntary disclosures by taxpayers. For background, the CRA’s Voluntary Disclosures Program (“VDP”) allows taxpayers with unreported income, unfiled tax returns or undisclosed assets to come clean to the CRA in exchange for a removal of penalties and reduction of interest owing. The CRA recently […]
March 25, 2022
By: Laura Zubot If you have gone through a tax audit, you know that the Canada Revenue Agency (“CRA”) has broad powers to obtain information from you and about you. However, did you know that you also have a right to get information from the CRA? Getting access to the CRA’s internal records is key […]
March 16, 2022
By: Josiah Davis Once you become the director of a corporation, it is harder than you think to resign. Specific steps must be taken in order to resign from the board of directors in a way that complies with the law. This article provides the steps for resigning and explains the tax consequences to individuals […]
January 31, 2022
By: Stanley Ndibe Background In the 2020 Fall Economic Statement, the government of Canada announced its intention to introduce and implement a tax-based measure targeting “unproductive use of houses”. The tax would be targeted at vacant properties. The Underused Housing Tax Act (the “UHTA”) was first announced in the government’s 2020 Fall Economic Statement ( Fall […]
January 20, 2022
By: Matthew Boyd Tax litigators often look at their careers compared to other lawyers and say “with tax law all that is at stake is money.” On the surface, this appears to be true because tax is about money, unlike criminal law where someone’s freedom can be at issue. However, it is important to acknowledge while […]
December 02, 2021
By: Stanley Ndibe Introduction If you have not watched the sensational South Korean drama “Squid Game” on Netflix, chances are you have at least heard about it. The show ranked first on Netflix’s global chart for 29 days and, as at the time of writing, is Netflix’s most-watched show in the streaming platform’s history. For the […]
January 19, 2021
By Felix Wu, Associate, and Milosz Zak, Associate, Farber Tax Law No one is perfect. Just as much as the Canada Revenue Agency (the “CRA”) harps on taxpayers to correct their errors and may audit to protect the tax base, the CRA is not impervious to making mistakes. It goes without saying that in instances where the […]
October 26, 2020
By Selena Ing, Associate, and Boris Stanislav, Associate, Farber Tax Law Decision in the Federal Court In the 2019 Federal Court decision of Canada (National Revenue) v. Roofmart Ontario Inc., the Minister of National Revenue (the “Minister”) brought an application under subsection 231.2(3) of the Income Tax Act (the “ITA”) and subsection 289(3) of the Excise Tax Act (the “ETA”) to compel […]
October 10, 2020
By Boris Stanislav, Associate, and Felix Wu, Associate, Farber Tax Law Because of the COVID-19 pandemic, countries around the world have closed their borders and imposed stringent travel restrictions. Because of these restrictions, foreign individuals may have found themselves stuck in Canada, or Canadian citizens may be forced to remain abroad until travel becomes available. Undoubtedly, this […]
September 10, 2020
By Selena Ing, Associate, and Milosz Zak, Associate, Farber Tax Law Since the start of the pandemic in mid-March of 2020, Canadians have benefited from a series of Federal Government programs to lessen the impact of the economic slowdown caused by COVID-19. Whether it is the GST/HST credit, an increase to the Canada Child Tax Benefit, the […]