The Canada Revenue Agency ("CRA") audits taxpayers to ensure compliance with the Income Tax Act ("Act"). In completing an audit, the CRA has broad powers to request documents and information;

Most jurisdictions in Canada require the unanimous consent of all shareholders, including non-voting shareholders, in order for a non-distributing corporation to dispense with an audit.

In the past two years, the income trust has developed into an extremely widespread and versatile vehicle for acquiring and repackaging an increasingly diverse range of businesses in an effort to maximize value. A widely cited statistic for 2002 is that almost 90% of Canadian initial public offerings in that year were made through income trusts, with roughly 45 businesses effectively being sold to the public through income trust offerings. As of early September, 2003, activity remained strong, wi

The Ontario Not-for-Profit Corporations Act, 2010 ("ONCA") came into force on October 19, 2021. Not-for-profit corporations incorporated in Ontario will have a three year transition period...

On December 20, Canada's highest court released a hotly anticipated decision that is almost certainly the final act in the more than 20 year saga of a formerly pre-eminent theater company...

Canadian organizations can take major steps toward mastering the challenges of modern business risks by incorporating those perils into strategic planning and nurturing strong risk cultures.

The Income Tax Act confers on the CRA a broad range of powers to audit Canadian taxpayers, including registered charities and not-for-profit organizations.

In an earlier blog post, we discussed some of the risks to sponsors and administrators of registered pension plans.

With increasingly complex and busy lives, we understand the value an efficient audit process can provide to business owners and their teams. Here are 10 helpful tips for a successful audit:

Audits and assessments undertaken by the Canada Revenue Agency (CRA) that uncover errors or omissions by a taxpayer can lead to significant penalties.

There are over 86,000 registered charities in Canada. Each year, the Canada Revenue Agency Charities Directorate audits approximately 700 of these charities.

In closely held corporations, it is not uncommon that annual shareholder minutes are not prepared, and financial statements are not audited despite the general legal requirement...

On June 22, 2020, British Columbia introduced amendments to the Mines Act. The proposed amendments formalize the separation of the Ministry of Energy, Mines and Petroleum Resources'

In Canada (National Revenue) v Atlas Tube Canada ULC, the Federal Court held that the CRA, in the course of an ongoing audit, was entitled to a draft tax due diligence report prepared by the accounting firm Ernst & Young.

When a Canadian or U.S.-based multinational finds itself under audit, the taxpayer and the tax authority are often at odds over what documentation is subject to disclosure and what remains beyond the prying eyes of the tax authority.

As we have written here and here, CRA is ALL over the Canadian real estate industry, assessing homebuyers, condo renters and everyone in between for GST/HST...

When Prime Minister Justin Trudeau's Liberal government announced its new 100% GST rebate for tax paid on the construction of qualifying new rental housing in September 2023...

As we have previously written here, the Canada Revenue Agency ("CRA") has significantly expanded its audit activity in the residential real estate sector – particularly targeting homeowners...

Le contexte socio-économique actuel au Québec a évidemment comme effet d'affaiblir les contribuables. Les coûts augmentent dans pratiquement toutes les domaines...