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The Canadian income tax system is based on the principles of self-reporting and self-assessment. At first instance, the government does not have sufficient information to determine each person’s income or tax. Accordingly, taxpayers are trusted to report their own income for each year. In order to ensure accuracy of returns, the Canada Customs and Revenue Agency (CCRA) is given broad powers to audit taxpayers’ books and records and obtain other information.

The Tax Court's approach to cost awards has evolved significantly in recent years.

This article provides an overview of 2025 updates to combined Federal and Ontario personal income tax rates (at the higher marginal tax brackets) and corporate income tax rates, as well as the prescribed interest rate and payroll deductions. This year's updates also include revised RRSP and TFSA contribution limits.

Effective April 1, 2024, the Canadian government has revised the Excise Duty rates for beer, spirits and wine, instituting a temporary freeze on annual rate increases for the next two years.

BC’s Finance Minister Mike de Jong introduced BC’s Budget and Fiscal Plan 2014/15 on February 18.

There are many times when a seemingly small shift in the earth can give rise to significant ripple effects.

The Canada Revenue Agency’s ("CRA") Income Tax Rulings Directorate recently released a technical interpretation1 which may invite CRA auditors to continue this increasingly common and highly alarming trend.

This quarterly update discusses developments related to the accounting for income taxes.

The Government faced considerable backlash from stakeholders (including tax professionals, business organizations and small business owners) due to the complex and far-reaching nature of the July Proposals.

Canadian private companies have seen much newsworthy tax reform in recent years. One change is in the area of income sprinkling. Another major change in tax law is the rules on investment income

Canadian private companies have seen much newsworthy tax reform in recent years. One change is in the area of income sprinkling.

In Sifto Canada Corp. v. Minister of National Revenue, 2013 FC 214, Prothonotary Aalto of the Federal Court rejected the Crown’s motion to strike out judicial review applications filed by Sifto Canada Corp.

On December 7, 2015, the government tabled a Notice of Ways and Means Motion (NWMM) to implement a number of tax measures.

The fifth protocol (Protocol) to the Canada-U.S. Income Tax Convention (Treaty) was signed on September 21, 2007. The Protocol contains the changes to the withholding tax rules for interest and the treatment of limited liability companies.

On March 20, 2012, the Minister of Finance, Raymond Bachand, tabled the 2012-2013 Budget of the Québec government.

In its Budget 2017, the federal government signaled its intention to address certain tax planning strategies involving the use of private corporations.

Canada's federal government has introduced Budget 2026, proposing substantial changes to the income tax system that could reshape how businesses and entrepreneurs structure their investments and operations.