Most people in the farm industry know they can sell qualifying farm property as a sole proprietor or partnership and use their lifetime capital gains exemption to avoid paying tax on the sale.

Designing internal controls for a small business or organization is a difficult task for management and/or the board to undertake.

Selling your farm is supposed to be tax free, right? At least the first $800,000. So why is that not always the case, and what can you do about it?

These legislative changes are retroactive to October 7, 2003.

This article provides information about the Voluntary Disclosure Program administered by the Canada Revenue Agency.

As tax professionals, we are often asked by clients to explain the concept and appropriate uses of holding companies.

After months of public consultation, speculation and concern, the rules regarding Passive Investment Income have finally been unveiled.

The terms "non-profit organizations" and "not-for-profit organizations" are used to describe entities that receive preferential treatment under the "Income Tax Act".

There is little doubt that the traditional law firm structure is under fire in Canada.

Having led over 1,000 audits of almost every shape and size, I often find myself in possession of extremely confidential and sensitive client financial information.

Exposure draft issued by the AcSB in October 2017 proposes to amend Section 3856 with respect to the accounting for financial instruments between related parties and significant risk disclosures.

The TICO registration process is a bit time-consuming, taking up to six months in some cases.

When growing through mergers and acquisitions, there are generally two distinct types of acquisitions: (1) the platform acquisition and (2) subsequent one-off acquisitions.

If you listened closely on budget day, you could hear a sigh of relief across Canada after the federal government announced new rules on passive investment income

As proposed in the March 22, 2017 budget, every professional must include year-end work-in-progress (WIP) into taxable income effective for taxation years beginning after March 21, 2017.

Another federal budget has come and gone. If you blinked you might've missed it! Compared to last year's changes to the small business deduction eligibility, among others...

With the recent release of the ICIJs' investigation of offshore tax havens used by a law firm based in Panama, the question of what Canada is doing to ensure that its taxpayers are disclosing offshore assets and reporting the related income is front and centre in the minds of many taxpayers.

The CRA announced in the December issue of the "Businesses – Tax information newsletter" the kickoff of a new campaign to send GST/HST compliance letters to GST/HST registrants.

There can be a significant amount of wealth tied-up in farm businesses—including partnerships and corporations—and there are opportunities in the succession process to distribute that wealth on a tax-free or tax-deferred basis.

Although cryptocurrencies have existed since Bitcoin emerged in 2009, this medium of exchange has experienced a massive surge in popularity in recent months.