Form T1135: An Overlooked and Potentially Onerous Reporting ObligationBy: Matthew Boyd, Associate, Farber Tax Law Taxpayers with foreign assets may have reporting obligations of which they are unaware. Form T1135 requires taxpayers to report...
Setting Sail for Retirement? Attend to Tax Matters FirstBy: Rimo Rico More and more retirees are trading in their Winnebagos for a Carnival Cruise. CNN has recently reported that some cruise-lovers are even choosing to spend their entire retirement...
2022 Tax Filing DeadlinesBy: Mina Alexander Tax filing deadlines are quickly approaching, and it is important to know when you are required to file and pay any tax balance owing. As we will discuss, you may be required to pay taxes owing prior to...
CRA Releases New Voluntary Disclosure Playbook 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,...
Did you know you have a right to the CRA's internal records and information?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,...
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...
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...
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...
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...
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...
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...
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,...
