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Wednesday, May 12, 2021 @ 1:32 PM

Tax authorities compel cryptocurrencies to divulge information on traders Man harvesting bitcoin

Both the Canada Revenue Agency (CRA) and the Internal Revenue Service (IRS) have recently been successful in obtaining court orders to compel cryptocurrency trading platforms to divulge information about unknown clients of a business in order to audit the client, not the business itself. ... [read more]

Wednesday, May 12, 2021 @ 10:43 AM

Links between COVID-19, divorce Man and woman facing opposite directions

It goes without saying that the COVID-19 pandemic has impacted many people’s everyday lives. People can no longer meet up with members outside their household, go to clothing stores or eat in restaurants. Some of the pandemic’s effects on people’s day-to-day lives are less obvious though. For example, the COVID-19 pandemic has affected many people’s marriages. More specifically, the pandemic has led to an increased interest in divorce. ... [read more]

Wednesday, May 12, 2021 @ 8:54 AM

Work that works: Difficulties new calls face when starting out | Charlene Theodore

You have your law degree … now what? ... [read more]

Tuesday, May 11, 2021 @ 12:30 PM

Federal budget gives CRA power to compel oral interviews Businesswoman sitting at desk with calculator and papers

The Canada Revenue Agency is going to wield more power as a result of the recent federal budget. Under the proposed rules, the CRA will have the power to compel persons to answer all proper questions — and provide all reasonable assistance — for any purpose related to the administration or enforcement of the relevant statute. The persons must respond to questions orally or in writing, including in any form specified by the relevant CRA official. ... [read more]

Friday, May 07, 2021 @ 11:28 AM

Highlights of 2021 federal budget Tax sheet with people and calculator, percent sign and clock

The Canadian government released its 2021 budget on April 19, 2021. The budget was highly anticipated as it was the first federal budget to be released during the pandemic. Some highlights of the budget are discussed below but, for certain measures, taxpayers will have to wait for more detailed proposals, including some based on stakeholder consultations, for further information. ... [read more]

Friday, May 07, 2021 @ 9:41 AM

Why online interaction’s better than you think Five people in zoom meeting

Even before the pandemic hit, the discussion around the pros and cons of flex work and working from home (WFH) or working from anywhere (WFA) raged. In February 2013, Marissa Mayer, then the new head of Yahoo, decided to summon all remote employees back to the office. Her goal was to create a more connected workforce and drive collaboration and innovation: “We need to be one Yahoo, and that starts with physically being together.” ... [read more]

Thursday, May 06, 2021 @ 2:08 PM

Estate planning around U.S. citizenship: Step one, confirm status U.S. and Canadian money beside a calculator

In order to provide clients with a well-rounded estate plan, it is critical to know if your client or his or her intended beneficiaries are U.S. citizens. Citizenship is not always obvious to determine. It’s possible for a person to be a U.S. citizen without knowing it. ... [read more]

Thursday, May 06, 2021 @ 11:45 AM

Manitoba to expand breadth of retail sales tax collection in 2021 budget Percent sign made up of numbers

In an increasingly digital age, Manitoba has announced it will expand its collection scope for Manitoba Retail Sales Tax (RST) to online services and platforms effective Dec. 1, 2021. Current typical GST/HST rules in Canada require consumers of this digital content received from unregistered non-resident entities to self-assess applicable sales tax on their purchase. ... [read more]

Wednesday, May 05, 2021 @ 10:49 AM

Foreign tax credit and deductions for non-business income taxes paid and hybrid entities Financial building surrounded by money icons, pie chart and piggy bank

In limited circumstances, a foreign tax credit or deduction can be claimed to mitigate the effects of international double taxation. The Income Tax Act provides three mechanisms for foreign tax relief: a credit, deduction or exemption. ... [read more]

Wednesday, May 05, 2021 @ 8:35 AM

Decision highlights major difference between B.C., Ontario estate laws Scales of justice and Canadian flag

On April 7, 2021, the British Columbia case of Jung v. Poole Estate 2021 BCSC 623 was released. In this decision, the testator who had disinherited his daughters in his last will and testament, had his will varied by the court which resulted in the adult daughters being awarded 70 per cent of his estate. ... [read more]