Focus On

Tax

Latest

Friday, March 27, 2020 @ 3:51 PM

Feds announce 75% wage subsidy, $40,000 interest-free loans for business, deferral of import duties Justin Trudeau

Ottawa is offering a 75 per cent wage subsidy to “qualifying” small- and medium-sized businesses as part of new COVID-19 support measures, including a government-guaranteed, interest-free and partially forgivable, $40,000 loan for businesses with payrolls of less than $1 million, and deferral until June 30, 2020, of GST/HST and import duties. ... [read more]

Friday, March 27, 2020 @ 11:18 AM

Tax tips for non-resident landlords investing in Canadian real estate For rent sign

Many non-residents do not realize that serious income tax repercussions can arise when investing in Canadian real estate. In fact, non-residents are required to pay taxes in Canada under certain circumstances and may even have to file a Canadian tax return. ... [read more]

Friday, March 27, 2020 @ 9:26 AM

COVID-19 time for reflection, possible change | Rachel Goldenberg

It is March 2020 and I am currently sitting at my desk in my home office. I have a hot coffee beside me, my husband is working in the next room, and my children are happily and wildly playing around the house. Sounds simply idyllic, right? Not so much. We are all home, not of our own choosing, but because we are self-isolating, amid the COVID-19 pandemic that has spread across the world. We are all social distancing, staying home and trying to keep everyone we know and love healthy and safe. ... [read more]

Friday, March 27, 2020 @ 8:34 AM

New work from home reality an opportunity for law firms | Andrea Lekushoff

It’s hard to believe how quickly the COVID-19 outbreak has changed our business landscape. The overall tone of public messaging went from cautious to urgent in just a few short weeks. In the midst of all this uncertainty, companies are trying to figure out how to best follow publicly issued guidelines and directives while serving clients and conducting business in as close to their usual way as possible. ... [read more]

Thursday, March 26, 2020 @ 1:21 PM

Four key actions lawyers can take to mitigate effects of COVID-19 Working from home

COVID-19 has had a dramatic impact on the legal profession in the past few weeks. Courts in many jurisdictions have shut down. Many lawyers and support staff are working from home. Clients are confused. And there is no end in sight. Coping strategies are the key to getting through this difficult time. ... [read more]

Thursday, March 26, 2020 @ 9:36 AM

GOODS AND SERVICES TAX (GST) - Taxable supply - Zero-rated supplies - Drugs and biochemicals

Appeal by Patterson Dental from the dismissal of its appeal from an assessment made under the Excise Tax Act. ... [read more]

Monday, March 23, 2020 @ 3:47 PM

Boom, bust and echo: Law firms are not immune | Jasmine Daya

During this time of COVID-19, putting on a smile and saying it’s “business as usual” is either an attempt to convince yourself that this is reality or a flawed marketing attempt. It is anything but business as usual, with some employees attempting to work remotely and some employees that are or will be temporarily laid off. ... [read more]

Monday, March 23, 2020 @ 8:43 AM

Governance for charities, not-for-profits: Back to basics documents_corporate_sm

As charities and not-for-profits continue to play an important role in Canadian society, it is important to ensure that they maintain good governance and keep abreast of governance issues that may arise. In general terms, “governance” is the establishment, implementation and monitoring of appropriate rules and policies by an organization’s governing body in order to achieve its purposes. Proper governance requires appropriate structural and operational due diligence and effective decision-making. This article provides a brief overview of some common questions and issues that arise regarding governance for charities and not-for-profits concerning governing documents and bylaws. ... [read more]

Friday, March 20, 2020 @ 2:21 PM

What you have to know when pandemic forces you to work from home | Russell Bennett

When I started my law firm (of one) almost two years ago, I decided to work from home. ... [read more]

Friday, March 20, 2020 @ 1:19 PM

Canadian tax basis bump: Threshold questions Tax planning

As discussed in part one, the bump denial rules will apply when, in the course of an acquisition, certain types of people (colloquially referred to as “bad people”) have acquired certain types of property (“bad property”). The following threshold questions may assist in determining whether the bump could be available by determining which shareholders may be “bad people” and whether any of these bad people might acquire bad property. ... [read more]