Resources & Articles
Year: 2022
GST/HST INPUT TAX CREDITS: Reasonable
Expectation of Profit
A July 28, 2022, Tax Court of Canada case considered whether input tax credits (ITCs) in respect of a farming operation’s expenditures were available. The...
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Charitable Gifting
As the holiday season nears, many Canadians will make the bulk of their charitable donations for the calendar year. While many of us may not...
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Estate Freeze Advantages and Considerations
The Canadian Income Tax law states that taxpayers are deemed to dispose of all of their property at fair market value immediately prior to death. ...
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The post-pandemic evolution of office and multifamily real estate
(authored by RSM CANADA) Pandemic protocols such as remote work continue to redefine the future of residential and office space.
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Working Capital in Business Transactions
Defining Working Capital “Working capital” is the capital of a business which is used to fund day-to-day operations and meet shortterm obligations. In its most...
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Navigating workforce challenges: What drives employee satisfaction and retention?
(authored by RSM CANADA) A new RSM survey illustrates the impressions workers have of their employers and the strategies that can attract or retain them moving forward.
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New rules for Canadian corporations earning passive income
(authored by RSM CANADA) A summary of the tax implications of earning passive income through controlled foreign affiliates due to proposed legislation.
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U.S. Federal Tax Consequences for Canadian Businesses with US Operations
Background Canadian businesses continue to extend their reach into the U.S. for numerous reasons; some of which include proximity, lower corporate tax rates as a...
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DIRECTOR LIABILITY: Is Asking About Source
Deductions Enough?
Directors can be personally liable for payroll source deductions (CPP, EI, and income tax withholdings) and GST/HST unless they exercise due diligence to prevent the...
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The Tax Free Savings Account
In 2009, the federal government introduced the Tax Free Savings Account (TFSA) to give Canadians another means to save for their financial goals. The TFSA...
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