During the 2021 federal election, the Liberal Party of Canada proposed introducing a new form of tax favoured account: the First Home Savings Account

If you are losing sleep because of unreported internet income, your income tax situation may not be as bad as you fear.

Introduced in 2009, the tax-free savings account allows individuals to set money aside tax free. While you cannot claim tax deductions for your TFSA contributions, the TFSA's earnings are tax free even when withdrawn.

When a taxpayer ceases to be a GST/HST registrant, he can face a significant tax liability under subsection 171(3) of the Excise Tax Act (ETA).

Sex workers provide services ranging from phone-sex operators, erotic dancers, sex-toy makers, and strip-club managers to pornographic actors, webcam models, and escorts. All self-employed Canadian sex workers have one thing in common, however: tax.

Tax fraud and tax evasion can manifest through a range of actions, encompassing, yet not restricted to: (1) avoiding income tax responsibilities, (2) endeavouring to deceive the government via falsified loss claims, or ...

Loss carryovers are an important tool that taxpayers can utilize to reduce their taxable income. When taxpayer incurs a loss, they can use the loss to offset income that would otherwise be taxable.

An allowable business investment loss (ABIL) is a type of capital loss with one special tax treatment.

The stated purpose of this new policy, implemented in the fall of 2016, is to provide a general deterrence to tax evasion by causing mobility restrictions. The CRA will use police officers to collect the fingerprints.

The new housing rebate is available to individuals who purchase a new home or condo from a builder, or who hires a builder to construct a new house.

Canada's federal and combined federal and provincial value added taxes – Harmonized Sales Tax (HST) and Goods and Services Tax (GST) – are meant to be paid solely by the end consumer of a product or service.

The COVID-19 pandemic forced thousands of Canadian small businesses to close temporarily. To provide relief, the federal government introduced several subsidies, including the Canada Emergency Rent Subsidy (CERS), a program designed to help businesses, non-profits, and charities cover rent and other fixed property expenses.

Real property owners in Canada should be aware that their tax obligations may differ depending on whether a property is used for residential (such as renting as a home or apartment) or for commercial purposes (such as renting for business use).

Under the Income Tax Act, Canadian small businesses can generally deduct business expenses if they were incurred for the purpose of earning business income as opposed to personal expenses.

A taxpayer filed judicial review application after her voluntary disclosure application was rejected.

Many taxpayers find themselves in situations where they are overburdened by tax debts on top of other existing obligations with seemingly no way to climb out of the ever increasing tax debt as interest accrues.

The US has always been Canada's largest trade partner. Indeed, as of 2022, trade volume with the US alone accounts for two third of Canada's worldwide volume and is about five times that of the runner up, the European Union.

Israel's parliament has approved the initial reading of a draft bill proposing an exemption for foreign residents from cryptocurrency taxes, a significant move to attract foreign investment in digital assets.

In Preston Family Trust II v The Queen, the taxpayers were a trust residence in Canada (the "Preston Family Trust") and two non-resident beneficiaries of the trust, John and Monika Preston.

Under section 8 of the Income Tax Act, employees can deduct certain employment expenses such as meal, travel and entertainment expenses if they meet certain conditions.