Filing an Appeal to the Tax Court of Canada If in the case that an income tax or GST dispute needs to be resolved, first send a notice of objection to the Canada Revenue Agency (CRA). They will review the notice and attempt to resolve it with a reassessment, confirmation or redetermination. At this point, […]
Why File Your Tax Return with a CPA? The governance of the CRA-CPA Canada Framework is done by an overarching steering committee. They manage they relationship between the CRA and CPA Canada to provide high level guidance and direction to tax related committees. Thus filing a tax return with a CPA is the safest and […]
How Much Capital Gains Tax Do You Pay? A capital gain occurs when you sell or are considered to have sold a capital property for more than its cost. This cost includes the adjusted cost base (ACB) and any outlays or expenses incurred to make the sale. Capital gains tax applies to these sales and […]
Breaking Down the Types of Trusts Available in Canada When filing a T3 trust return, it is important to know about the types of trusts available and the conditions of each. Some trusts may not require a T3 return and others may have specific criterias in order to qualify for special considerations. Continue reading to […]
Breaking Down the Types of Corporations within Canada When filing corporate taxes and applying for grants, certain rates and deductions, it is important to have an understanding of the types of corporations that they apply to. These types have certain implications for tax purposes and business owners need to report on it. Changing your corporation […]