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The Canada Revenue Agency's Voluntary Disclosures Program (VDP) gives taxpayers a way to voluntarily come forward to put their tax affairs in order and correct past non-compliance.

The Net Investment Income Tax presents new challenges for all U.S. citizens living beyond America's borders.

If your think there's no limit to your RRSP saving potential, now's a good time to learn the ins and outs of over-contributing.

Effective 1 January,2017, the income tax treatment of farm quota and other eligible capital property (ECP) underwent a complete overhaul. First announced in the 2016 Federal Budget, the ECP was formally replaced by capital cost allowance (CCA) class 14.1 on January 1, 2017. With many farmers and farm corporations' 2017 with fiscal year-ends now approaching, farmers should be aware of the implications of these changes to their businesses.

When Canadian multinationals issue discounted bonds, notes and similar obligations in a foreign currency, the tax consequences of repaying the debt are governed by subsections...

If you have children that are 18 and over, please ensure that they file a tax return. For those who have not, you can generally go back and file 10 years of tax returns.

On Dec. 13, 2017, Finance Canada released Amendments to the Income Tax Act and Regulations and Explanatory Notes, simplifying measures to restrict income sprinkling.

If you are a Doctor or Dentist who is considering incorporating, it is important to know when it's appropriate to take this step.

A friend of mine was complaining about the headaches associated with an upcoming move to a new home.

Please see the latest article, Taxpayers must stand and wait to resolve their appeals, by Vern Krishna of TaxChambers LLP published in the January 2017 Canadian Current Tax.

Vern Krishna of TaxChambers LLP discusses the difference in tax law between the independent contractors rendering services and employees in service of their employers.

Canada's Liberal party released their first Federal Budget on March 22, 2016 since taking office last year.

On April 14th, 2016, Alberta Finance Minister Joe Ceci announced the 2016 Alberta Budget. The Crowe MacKay Tax Team has summarized the highlights here.

The newly elected Liberal government indicated in its election platform that it intends to increase taxes on employee stock option benefits by limiting Canadian resident employees from claiming the stock option deduction (i.e., the capital gains equivalent taxation) in respect of option benefits in excess of $100,000 annually.

Canadian-controlled private corporations earning business income can enjoy significant tax advantages.

On March 22, 2016, the Liberal government delivered its first budget ("Budget 2016"), which focuses on growing the middle class.

In MNR v. RBC Life Insurance Company et al., 2013 FCA 50, the Federal Court of Appeal held that the Minister of National Revenue could not use her authority under the Income Tax Act to demand information for the primary purpose of "chilling" a business.