TSG (Tax Specialist Group)

Allowable Business Investment Losses And The Capital Dividend Account (Friday, July 30, 2010)
ABIL's, CDA; An ABIL claimed by a corporation reduces the corporation’s CDA
Non-Refundable Dividend Tax On Hand (Friday, July 09, 2010)
RDTOH; the result can be the equivalent of 'triple tax'
Spousal Trust Strategy (Friday, July 02, 2010)
Trusts; "asset-building" can be particularly effective
Alter Ego And Joint Partner Trusts (Friday, June 25, 2010)
Trusts; Such a trust can provide estate planning benefits
Traps In Crystallizations (Friday, June 18, 2010)
Crystallizations; potential pitfalls can result in unexpected, costly mistakes
Rental Property CCA Restriction Applies On Aggregate Basis (Friday, June 04, 2010)
Rental Property CCA Restriction; X will lose out on claiming $60 of available losses for the year
Change to Post Mortem Planning (Friday, May 28, 2010)
Post Mortem Planning; sometimes traditional planning techniques become outdated
Expanded Reporting Requirement For Foreign Assets (Friday, May 21, 2010)
Foreign Reporting; The penalty could apply on a per-item basis
Personal Service Businesses (Friday, May 14, 2010)
Personal Service Businesses; "the combined tax bill can be significantly lower than the tax on the salary would be"
Stock Option Tax Deferral Election (Friday, May 07, 2010)
Stock Options; The 2010 Federal Budget proposes to repeal the employee stock option tax deferral election
Transfers of Investments to Corporations (Monday, March 22, 2010)
Transfers; If Mr. X had retained and sold the investment, there would be no tax liability
Subsection 17(1) Income Inclusions (Friday, March 12, 2010)
Subsection 17(1); Loans to non-residents can cause income inclusions
Directors' Fees Paid to Non-Residents (Friday, February 26, 2010)
Directors' Fees; This withholding tax requirement is often overlooked
Scientific Research & Experimental Development (Friday, February 12, 2010)
SR&ED; Early identification and good documentation are critical
Severe Penalties for Not Reporting Foreign Property (Friday, February 05, 2010)
Foreign Reporting; Form T1135 includes a certificate of full disclosure to be signed by the taxpayer
U.S. Citizens in Canada (Friday, January 29, 2010)
Residency; U.S. status could eliminate many Canadian tax benefits
Canada Revenue Agency and Income Splitting Trusts (Friday, January 22, 2010)
CRA Trust Audit; The CRA has decided to actively audit domestic inter vivos trusts
Using an RRSP as Security (Friday, January 15, 2010)
RRSP; Using an RRSP as security for a loan may be a better alternative than cashing in the RRSP
Deductions for Tradespersons' & Apprentice Mechanics' Tools (Friday, January 08, 2010)
Deductions; Two deductions may be available to individuals
Unclaimed Capital Losses (Friday, December 18, 2009)
Capital Losses; Identifying unreported capital losses from prior years can result in significant tax savings
Electing Out of a Spousal Rollover on Death (Friday, December 11, 2009)
Spousal Rollover; The decision whether to elect out of the spousal rollover can be made on a share-by-share basis
Tax Savings For U.S. Residents Selling Canadian Capital Property (Friday, December 04, 2009)
Sale of Capital Property; Part of the gain may be exempt from Canadian tax
Funding The Testamentary Trust (Monday, November 16, 2009)
Testamentary Planning; When assets are jointly titled, they do not pass through the testator’s estate
Testamentary Planning (Friday, November 06, 2009)
Planning; You should consider creating a testamentary trust as part of your overall estate plan
Claiming Capital Losses (Friday, October 30, 2009)
Losses; It may be advisable for the lender to charge a reasonable rate of interest
CRA Announces Policy Changes for Employee Benefits (AMENDED Dec 17, 2009) (Friday, October 23, 2009)
Employee Benefits; The Canada Revenue Agency (CRA) has announced policy changes for taxable employment benefits for 2009
Election to Dispose of Property (Friday, October 16, 2009)
50(1) Election; There is no prescribed form for the 50(1) election
Reducing Tax Withheld at Source (Friday, October 09, 2009)
Source Deductions; 'it is a good idea to start the process now'
HST Planning For Ontario and British Columbia (Friday, September 25, 2009)
HST; Businesses that purchase equipment or other capital goods that bear RST in Ontario or British Columbia should consider strategies to reduce their RST
Inadvertent Transfer of Tax Liability (Friday, September 11, 2009)
Tax Liability; The transfer need not be made with the intention of avoiding a tax liability
Possible rebate for GST Paid on Certain Investment Management Fees (Monday, August 10, 2009)
Possible GST Rebate; Do not be surprised if the rebate claim is denied
Form 5471 Penalty (Friday, July 24, 2009)
Automatic Penalty; The $10,000 penalty will be assessed automatically against corporate taxpayers
Notices of Objection for Individuals (Friday, June 19, 2009)
Objections; A taxpayer can object to a notice of assessment even if the assessment agrees to what was filed
Fewer Taxpayers Required to File US Treasury Reporting Form (Monday, June 08, 2009)
US Treasury Reporting Form; The IRS announced that it is suspending the expanded definition of “a United States Person".
Canadian Individual Taxation Numbers (Friday, May 15, 2009)
ITN; The ITN is a nine-digit number issued by the CRA to non-resident individuals
Election for Accelerated CCA on Buildings (Friday, May 08, 2009)
CCA on Buildings; The eligibility for the higher CCA rate is not automatic
Source Deduction Waivers (Thursday, April 09, 2009)
Source Deductions; The CRA will authorize a reduction in tax withheld if deductions are properly supported.
Refunds of Withholding Tax (Friday, April 03, 2009)
Claiming Refunds of Withholding Tax; The credit for foreign taxes will likely be based on the treaty rate of 7% rather than 10%
Income Splitting (Friday, March 27, 2009)
Income Splitting Between Related Persons; Make sure the correct amount of interest is paid by January 30 each year
Health & Welfare Trusts (Friday, March 20, 2009)
Medical Expenses; Where expenses are significant, the savings outweigh the costs
Principal Residence Exemption (Friday, March 13, 2009)
Principal Residence Exemption; If you own more than one property, keeping track of expenses may help in determining which property to claim as the principal property
Payment of Capital Dividends (Friday, March 06, 2009)
Capital Dividends; It may be prudent to consider paying a capital dividend prior to realizing these losses.
To TFSA or Not To TFSA: That Is The Question (Friday, February 27, 2009)
Tax Credits; The rule of thumb is to invest in an RRSP and use the resultant tax savings to fund a TFSA contribution
Creditor Proofing (Friday, February 20, 2009)
Creditor Proofing; Equity may include inherent goodwill that is not reflected on the balance sheet
Non-Residents Can Use Subsection 164(6) (Friday, February 13, 2009)
Subsection 164(6); This election will not be available on property held in joint tenancy
The Tax-Free Savings Account (Friday, February 06, 2009)
Tax Credits; The TFSA program offers taxpayers an opportunity to earn investment income tax-free
Changes to US Treasury Department Reporting Requirements (Wednesday, January 28, 2009)
Reporting; You should be aware of the expanded base of those who are required to file these forms and the IRS’ stated zero tolerance policy
Timing of Acquisition of Control (Friday, December 05, 2008)
Acquisition of Control; The failure to elect out of subsection 256(9) can result in unintended results
Pension Income Can Be Split in Year of Death (Friday, November 28, 2008)
Pension Income; Eligible pension income relating to the portion of the year in which both spouses were alive can be split
Restrictive Covenants (Friday, November 07, 2008)
Restrictive Covenants; Don’t Ignore the Proposed Restrictive Covenant Legislation
Child Fitness Amount (Friday, September 19, 2008)
Child Fitness Amount; The CRA website may refer to the new requirements but the 2008 guides probably cannot be changed.
Personal Service Businesses (Friday, August 15, 2008)
PSB Rules; Be sure before concluding that the PSB rules do not apply
Transfer of Life Insurance to a Child (Friday, August 01, 2008)
Life Insurance; Transfer to the guardian for an incapacitated child will not be taxable
A Return to Partnerships (Friday, July 18, 2008)
Partnerships; Start the clock ticking by filing a T5013
Medical and Disability Related Matters (Friday, April 11, 2008)
Medical Credits; Opportunities for your clients
High Investment Income Reduces SR&ED Expenditure Pool (Friday, March 07, 2008)
SR&ED; Investment income can reduce a company's ability to claim refundable credits
Moving Expenses (Friday, February 08, 2008)
Moving Expenses; Complicated rules for a simple situation
Eligible Dividends And Real Estate Companies (Friday, January 25, 2008)
Eligible Dividends; Old rules of thumb need to be re-examined carefully
The Capital Gains Exemption And Incorporating Professionals (Friday, January 18, 2008)
Capital Gains Exemption; Sale of sole proprietor can be tax-free with planning
5th Protocol - Canada-US Income Tax Convention - Interest Withholding Tax - Non-Arm's Length (Friday, December 14, 2007)
5th Protocol; Elimination of withholding tax will apply to interest payments by Canadian residents to all non-residents, effective at the date that the similar provisions of the Protocol become effective
Wind-Up vs. Amalgamation: A Big Difference (Monday, December 10, 2007)
Wind-Up vs. Amalgamation; Whether an amalgamation or a wind-up is chosen, the tax consequences may be unintentionally different
New Info Circular on Voluntary Disclosures (Monday, December 03, 2007)
Voluntary Disclosure; The processing time of voluntary disclosures will be increased without the completion of Form RC199
Foreign Operations & The Capital Gains Exemption (Friday, November 23, 2007)
CGE - Foreign Companies; Shares of foreign corporations may render a corporation ineligible for the capital gains exemption
Fifth Protocol – Canada-U.S. Tax Treaty – Stock Options (Friday, November 09, 2007)
Stock Options; The revised Protocol provides a mechanism for allocating stock option income between the countries
Halloween Tricks 'n Treats - The Federal Economic Statement (Friday, November 02, 2007)
Federal Statement; Proper planning can result in benefits to both sides
Leasehold Inducements (Friday, October 05, 2007)
Leasehold Inducements; Tax treatment does not automatically follow the accounting treatment for leasehold inducements
Attribution of Property on Marital Breakdown (Friday, June 15, 2007)
Attribution - Separation & Divorce; Filing the appropriate elections is necessary to ensure that an unexpected result does not occur
Transfer of Properties on Separation & Divorce (Friday, June 08, 2007)
Transfers - Separation & Divorce; Proper planning can result in benefits to both sides
GAAR - Reasons For Transaction (Friday, March 16, 2007)
GAAR; Having a business transaction may preclude GAAR when tax is not the main motivation
New CRA Receipt Policy Worrisome To SR&ED Filers (Friday, March 09, 2007)
SR&ED - Filing; File early to allow CRA enough time to confirm all information has been provided
When CRA Does Not Like the Results, GAAR Is Applied (Friday, March 02, 2007)
GAAR, 84(2), 84.1; The CRA will use GAAR to overcome a decision they do not like
Be Careful if You Allocate Partnership Income Only to Reduce Tax (Friday, February 23, 2007)
Partnership Income - ss 103(1); The CRA can reallocate partnership income allocations when they consider the allocations tax motivated
Transit Pass Credit & Fitness Tax Credit (Friday, February 16, 2007)
Tax Credits; The transit pass credit is for 2006 and the fitness tax credit is for 2007
Separate Class for Rental Buildings (Friday, January 26, 2007)
CCA - Rental Properties; The allocation of purchase price is important on the purchase of rental properties
Attribution Rules - Spousal Loans (Friday, January 19, 2007)
Attribution - Spousal Loans; Attribution can be avoided on spousal loans in certain situations
Designation of Eligible Dividends - 2006/2007 (Friday, December 29, 2006)
Eligible Dividends; CRA gives guidance on 2006 and 2007 eligible dividend designations
Eligible Dividends - Years Prior To 2006 (Friday, December 22, 2006)
Eligible Dividends; Inter-company dividends must be reviewed carefully for years between 2000 and 2006
Penalty and Refund Changes (Friday, December 15, 2006)
Penalties & Refunds; Refunds could be unexpectedly withheld
Withholding Tax on Remuneration Paid to Non-Residents of Canada (Friday, December 08, 2006)
Withholding Tax; Without planning, non-resident employers could be subject to unexpected taxes
GST on Disbursements (Friday, December 01, 2006)
GST - Disbursements; Taxation of disbursements depends on whether the professional is an "Agent."
Sale of Shares Deemed Business Income (Friday, November 24, 2006)
Capital vs. Income - Shares; Facts are key to determine tax treatment of share sales, not the classification on the tax return
Government's Annoucement on Income Trusts & Pension Income (Friday, November 10, 2006)
Income Trusts & Pension Income; New rules for income trusts and pension income
Capital Cost Allowance - Separate Classes (Friday, November 03, 2006)
CCA; In some cases, assets can, or must, be placed in separate CCA classes
Rental Property - Capital Cost Restrictions (Friday, October 27, 2006)
CCA - Rental Income; Capital cost allowance on rental properties can be restricted to net rental income earned
Meals & Entertainment - 100% Deductible (Friday, October 20, 2006)
Meals & Entertainment; In some cases, meals and entertainment expenses can be 100% deductible
Capital Gain Reserves (Friday, October 13, 2006)
Capital Gain Reserves; Capital Gains are taxable over five or ten years depending on the timing of the proceeds and the asset sold
RRSP Ineligible Investments (Friday, October 06, 2006)
RRSP's; There can be a high cost to purchasing ineligible investments in an RRSP
Principal Residence - What Needs to be Filed (Friday, September 29, 2006)
Principal Residence; You do not need to complete T2091 unless there is a taxable gain
GAAR & International Tax Treaties (Friday, September 22, 2006)
GAAR - Treaties; CRA loses landmark case on application of GAAR to an International Tax Treaty
163(2) Gross Negligence Penalty (Friday, September 15, 2006)
Penalties; Can an accountant's gross negligence transfer to the client?
Ontario Response to Federal Dividend Tax Changes (Friday, September 08, 2006)
Dividends; Ontario has decided to gradually introduce the reduced dividend tax rate
Shareholder Benefits - Bookkeeping Errors (Friday, August 11, 2006)
Shareholder Benefits; Bookkeeping errors to the benefit of a shareholder are not always shareholder benefits
Loss Determinations (Friday, August 04, 2006)
Loss Determination; A loss determination cannot be used to claim losses not shown on the original tax return
Can You Be Resident in More Than One Place? (Friday, July 21, 2006)
Residency; An individual's residency often depends on his ties to a country
How Much Are Non-Monetary Benefits Worth? (Friday, July 14, 2006)
Section 160; In determining tax liability under s. 160, non-monetary transfers must be considered
Active Business Vs.Investment Business (Friday, July 07, 2006)
ABI vs. SIB; Past History and intention is relevant in determining if company carries on an active business
163(2) Ignorance Could Have Been Bliss (Friday, June 30, 2006)
Penalties; If you receive tax advice and disregard it, you are far more exposed for penalties
When is Debt Uncollectible Debt (Friday, June 23, 2006)
Bad Debts - 50(1); What is required to determine when a debt is uncollectible?
Eligibility for the Tuition Credit (Friday, June 16, 2006)
Tuition Credit; Do you need a physical presence to be eligible for the tuition credit?
Deductibility of Legal Expenses (Friday, June 09, 2006)
Legal Fees; Subsection 60(o) allows for the deductibility of legal payments for an objection or appeal for another person
Budget 2006 - Dividend Rates as Promised (Friday, May 05, 2006)
Budget; The 2006 Budget has clarified how eligible dividends will be defined
GST on Property Taxes Paid by Tenants (Friday, March 24, 2006)
GST; Do you have clients who have commercial tenants who pay property taxes directly to the municipality?
Professional Incorporation Update (Friday, March 17, 2006)
Professional Incorporation; Holding companies cannot be used to hold shares of a professional corporation
Fairness & Late Filing Penalties (Friday, March 10, 2006)
Penalties; Late-filing penalties were referred back to CRA because all taxes were paid
Stock Option Deductions (Friday, March 03, 2006)
Stock Options; Payments to an employment consultant are not permissible deductions from stock options
GAAR - Using Attribution to the Taxpayer's Benefit (Friday, February 24, 2006)
GAAR/Attribution; Using attribution to your benefit is not GAAR
Due Date of Corporate Taxes (Friday, February 10, 2006)
Corporate Taxes; The due date of corporate taxes depends on many factors
Professional Incorporation - Doctors' & Dentists' Family Members (Friday, February 03, 2006)
Professional Incorporation; There are new changes to the OBCA allowing family members to be non-voting shareholders
Allowable Business Investment Losses - Payments to Individuals in Trust for Companies (Friday, January 27, 2006)
ABIL's; Payments to individuals on behalf of companies may still be ABIL
Capital Dividend Account (CDA) and Eligible Capital Expenditures (ECE) - Beware (Friday, January 20, 2006)
CDA, ECE; CDA payments related to ECE cannot be paid until the next taxation year
Withholding Tax Rates to Non-Resident Trusts & Their Beneficiaries (Friday, January 13, 2006)
Withholding Tax; The CRA has revised their policy on payments to non-resident trusts
First GAAR Case After Supreme Court Decision (Friday, December 16, 2005)
GAAR; The Evans case clarifies the practical application of GAAR
New Dividend Rates (Friday, December 02, 2005)
Dividends; The new dividend tax rates will affect owner/manager clients
SR&ED/Stock Option #2 (Friday, November 25, 2005)
Stock Options; Proposed Amendments to deny stock option benefit in ITC calculation
Fairness Provisions (Friday, November 18, 2005)
Fairness Provisions; If CRA does not consider all facts, the courts are willing to reverse their decisions
Association - Control in Fact (Friday, November 11, 2005)
Association; Control in fact must be determined by considering all relevant factors
When is an Amount Paid in Order to Be a Deduction? (Friday, November 04, 2005)
Deductions; Can a taxpayer deduct an amount he didn't pay directly?
Change of Control - Trustees (Friday, October 28, 2005)
Change of Control; A change of trustees could result in a change of control
CCA & Beneficial Ownership (Friday, October 21, 2005)
Beneficial Ownership; Ownership by a spouse does not preclude CCA and related expenses if paid by the taxpayer
Voluntary Disclosure - On a No-Name Basis (Friday, October 14, 2005)
Voluntary Disclosure; There is a 90-day limit to disclose the taxpayer's name
U.S. Companies Investing in Canada (Friday, September 30, 2005)
US Inbound Investing; Be aware of using U.S. LLC's to hold shares in Canadian companies
Stock Option Deferral - Cost Base Calculations (Friday, September 23, 2005)
Stock Options; Detailed records are necessary to calculate the cost base of stock option deferral shares
Employees Profit Sharing Plans (Friday, September 16, 2005)
Employee Benefits; EPSP's do not work in all situations
SR&ED Claim for Stock Option Benefit (Friday, September 09, 2005)
SR&ED/Stock Option; Stock option benefit can be used for ITC calculation
When a Hotel Is Not a Lodge - 18(l) (Friday, August 12, 2005)
Definition of Lodge; The CRA lost their argument that country hotels are lodges
Analysis of "Arm's Length" (Friday, August 05, 2005)
Arm's Length; CRA lost in its approach that any transactions that reduce taxes must be between non-arm's length taxpayers
Residency Test - Allchin Revisited (Monday, July 25, 2005)
Residency; Tax Court forced to take a second look at this case
Alberta Unlimited Liability Company ("ABULC") (Friday, July 15, 2005)
US Investors; ABULC's are cost-effective alternatives to NSULC's
Federal Court Makes Decision on Voluntary Disclosures (Monday, July 11, 2005)
Voluntary Disclosure; No-names basis submission that was accepted by CRA cannot be disregarded by CRA afterwards if facts have not changed.
Salaries & Bonuses To Family Members (Friday, June 10, 2005)
Salaries & Bonuses; In-kind payments are acceptable and so are large bonuses to non-shareholder family members.
Personal Health Service Plans - The Story Continues (Friday, June 03, 2005)
Health Plans; The health plan must be available to employees, not just shareholders.
Professional Corporations - Doctors and Dentists (Friday, May 27, 2005)
Corporations; New rules allow for non-family members to be shareholders.
Dividend Refund in Statute-Barred Years Cannot Be Adjusted (Friday, April 15, 2005)
Dividend Refund; If a corporate taxpayer received a dividend refund in a statute-barred year, the CRA cannot adjust it.
Were They Thinking? (Friday, April 08, 2005)
Child Tax Benefits; Unfortunately, sometimes a case has to go to Court for the obvious result.
Application of Fairness Provision in Court (Friday, April 01, 2005)
Fairness Provision; The fairness guidelines issued by CRA do not apply to the Courts.
The Price of Not Reporting Stock Options (Friday, March 25, 2005)
Stock Options/Penalties; A taxpayer is required to include the proper amount in income even if no slip has been issued.
Contractor Vs. Employee (Friday, March 18, 2005)
Contractor vs. Employee; This issue requires a review of all relevant factors.
Tax-Free Spousal Transfer (Friday, March 11, 2005)
Spousal Transfer; In order for a special transfer to be tax-free, the assets must vest in the surviving spouse.
Terminal Losses For Estates (Friday, March 04, 2005)
Losses; Terminal losses in the first year of an estate can be applied in a terminal return.
Using Stop-Loss Rules To Your Benefit (Friday, February 25, 2005)
Stop-Loss Rules; Spousal transfers can result in transfer of cost base.
Deferral of Tax Payments on Death (Friday, January 28, 2005)
Tax Payments on Death; If the proper elections and arrangements are made, tax payments on death can be deferred.
All or Substantially All - What Does It Mean? (Friday, January 21, 2005)
Terminology; CRA's interpretation may not be same as the Tax Court's.
U.S. Corporate Filing Requirements (Friday, January 14, 2005)
U.S. Filing; Treaty protection does not mean there are no US tax filings.
Revised Stop-Loss Rules For Post Mortem Planning (Friday, January 07, 2005)
Stop Loss Rules; Proposed rules allow post mortem estate planning.
2005 Tsunami Donations Can Be Used in 2004 (Friday, January 07, 2005)
Charities; Donations must be to certain charities only, before January 12, 2005.
Large Corporations Tax Issue (Friday, December 10, 2004)
Large Corporations Tax; Un-presented cheques should not be included in taxable capital.
Single Purpose Corporations - New Proposals (Friday, December 03, 2004)
Shareholder Benefits, US Estate Tax; CRA has issued a new administrative policy on single purpose corporations that own US property.
CRA Disputes (Friday, November 19, 2004)
CRA Disputes; Information available for a notice of objection.
Allowable Business Investment Losses (Friday, November 12, 2004)
ABIL; Issues To Consider.
Fairness Rules - December 2004 Deadline (Friday, November 05, 2004)
Fairness Rules; All files should be checked.
Registered Education Savings Plans (Friday, October 22, 2004)
RESP's; RESP's - a good vehicle to save for a child's education.
Residency Test (Friday, October 15, 2004)
Residency; Tax treaties should be considered in determining whether an individual is resident in Canada.
Deductibility of Management Bonus (Friday, October 08, 2004)
Management Bonus; Be aware of CRA policy on deductibility of management bonuses.
Withholding Tax For Services Done - By Non-Residents in Canada (Friday, September 24, 2004)
Withholding Tax; A 15% withholding tax may be payable for services rendered in Canada.
Deemed Association (Friday, September 17, 2004)
Association; Shares held by trusts or minors could have adverse results for association purposes.
Attribution That Works (Friday, September 03, 2004)
Attribution; Low Prescribed Rates Allow for Income Splitting.
Evidence Required (Friday, August 06, 2004)
Documentary Evidence; Sometimes evidence accepted by Courts is different from the CRA.
Personal Health Service Plans and Shareholder Benefits (Friday, July 30, 2004)
Shareholder Benefits/PHSP's; There could be shareholder benefits and non-deductible payments for PHSP's.
Disassociating Companies (Friday, July 23, 2004)
Association; Using a specified class of shares can disassociate companies.
Foreign Social Security Taxes As Foreign Tax Credits (Friday, July 16, 2004)
Foreign Tax Credits; For countries other than U.S., the foreign social security taxes are no longer a tax credit.
Single Purpose Corporations (Friday, July 09, 2004)
Loans; CRA has changed its administrative position for companies owning U.S. real estate.
Loans To Family Members (Friday, July 02, 2004)
Loans; Certain conditions are necessary to claim capital losses on loans to family members.
Overpayment of U.S. Taxes May Prohibit Claim of Foreign Tax Credit (Friday, June 25, 2004)
Foreign Taxes; Taxpayers must ensure that they only pay the withholding rate per the treaty
Supreme Court Decision - Gifford (Friday, June 18, 2004)
ECE & Interest Expenses; This Supreme Court case is relevant for the purchase of intangible assets and interest deductibility
Death Benefits (Friday, June 11, 2004)
Death Benefits; Tax-free payments are permitted in certain situations.
Subsection 75(2) - Planning To Avoid (Friday, June 04, 2004)
Trusts; It is important to carefully draft trusts to avoid unwanted results.
Alternative To Alter-Ego Trusts (Friday, May 28, 2004)
Trusts; Self Benefit trusts may help those under 65 in dealing with probate fees
Planning For the 21-Year Deemed Disposition Rule (Friday, May 21, 2004)
Trusts; Planning is required before the deemed disposition rules apply
Partnerships - Not Statute-Barred If No T5013 Filed (Friday, April 02, 2004)
Partnerships; Filing a Partnership Return
Ensures Partnership Income becomes
Statute-Barred
Claiming Losses on Shares or Debt (Friday, March 26, 2004)
Claiming Losses on Shares or Debt; Shares or debt of corporations can be claimed as a loss.
Professional Corporations - Year Ends (Friday, March 19, 2004)
Professional Corporations; It is possible to restructure to allow a professional corporation to use the alternative method.
Financing Fees / Borrowings - Partnership (Friday, March 12, 2004)
Financing Fees; When interest is deductible within a partnership and financing fees wind up after.
Change in Use / Principal Residence (Friday, March 05, 2004)
Change in Use; Be Aware of Changing a Principal Residence to Investment Property or Vice Versa
Donations Schemes - Some Reasonable Conclusions (Tuesday, February 24, 2004)
Donations Schemes; Klotz Case Reviews Art Flips to Charities
Employee Benefits (Friday, January 23, 2004)
Employee Benefits; Free Meals and Gifts
Proposed Charitable Donation Rules (#2) (Friday, January 16, 2004)
Proposed Charitable Donation Rules (#2); Advantages Received by the Donor
Proposed Charitable Donation Rules (#1) (Friday, January 09, 2004)
Proposed Charitable Donation Rules (#1); Government has limited access to donation receipts.
Year-End Tax Planning Considerations (Friday, December 19, 2003)
Year-End Tax Planning Considerations; Year-End Tips
Review of Capital Loss Rules (Wednesday, December 17, 2003)
Review of Capital Loss Rules; Year-End Planning Considerations
Definition of Common Law Spouse (Friday, November 28, 2003)
Definition of Common Law Spouse; Living together makes you married for tax purposes.
Reserves (Friday, November 21, 2003)
Reserves; Circumstances where reserves cannot be claimed are extended.