Insights

Over a year ago, Canada, Mexico, and the United States (U.S.) came together to sign a trade deal to replace the existing North America Free Trade Agreement (NAFTA).

Canadian tax treaties can now be impacted by a global convention designed to amend tax treaties in force to prevent Base Erosion and Profit Shifting.

Barring major updates to the draft forms, the proposed changes will be among the most significant in partnership reporting in recent history and will likely require significant additional time to comply.

Tax audits occur quite frequently and are part of the day-to-day workings of the Canada Revenue Agency (CRA) and other tax administrations such as Revenu Québec (RQ) .

If you make an investment loan to your spouse, common-law partner, minor child or a family trust for them, the investment income from investing the loan proceeds will be taxed in your hands, rather than in the hands of the family member (or trust) who received the loan, unless certain rules are followed.

The Government of Ontario has recently introduced legislation, Bill 145 - Trust in Real Estate Services Act, 2019.

Selling the business is part of the long-term plan for many small business owners. While many things can motivate a sale, thoughtful planning well in advance of a sale can help you save on taxes and prevent costly and unexpected tax issues.

You’ve worked hard to build your business and create a profitable company. During the start-up years, you may have forgone paying yourself in favour of reinvesting in your business and growing your enterprise.

Normally, you will want to choose RRSP investments that maximize your return and stay within your risk tolerance.