Taxation
James Buckley
Partner
CPA, CA
As a Tax Partner, James provides corporate, personal, and estate tax planning services to mid/large owner-managed businesses in a variety of sectors. His experience includes corporate reorganizations, mergers and acquisitions, shareholder succession, key employee compensation, estate tax minimization, and US/Canada cross-border taxation consulting.
James obtained an Honours Bachelor of Commerce degree from McMaster University, is a member of the Chartered Professional Accountants of Ontario, and has completed the CPA Canada In-Depth Tax program. Previous to joining DJB, James worked for a boutique Toronto law firm in the area of US/Canada cross-border taxation for corporate and high-net-worth individual clients.
James sits on DJB LLP’s Tax Committee, which oversees the firm-wide tax practice, and is a part of various firm specialty groups (noted below). He is also a a board member of the West End Home Builders association and a member of the Gift Planning Services Committee of the Hamilton Health Sciences Foundation. In 2018, he was honoured to be recognized as one of Hamilton’s top “40 Under Forty” as presented by the Business Link Media Group for his contributions to the community.
In his free time, James is an avid hockey player, golfer, and guitarist.
Committee and Team Involvement
Taxation Committee
Professionals Specialty Group
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Video of Scott McGillivray with our DJB Partners’ Ryan Bouskill and James Buckley on the value of the McGillivray Trusted Professional endorsement.
Video interview with DJB’s Ryan Bouskill and James Buckley, Partners in the Burlington office and Scott McGillivray |
Insights
December 20, 2024
Trust Distributions: Violating Trust Terms
A March 30, 2023, Tax Court of Canada case reiterated the importance of the trustee of a trust […]
December 12, 2024
Professional Corporations: Are They Still Effective?
Background Historically, Professional Corporations (PCs) have been used by professionals as a vehicle to enjoy significant tax advantages, […]
December 10, 2024
Corporate Tax Return Filed Late: Ability to Get a Tax Refund
A July 22, 2024, Federal Court case found that CRA’s refusal to accept and provide tax refunds for […]
November 26, 2024
Shareholder Loan Account: Proper Bookkeeping
A July 31, 2024, Tax Court of Canada case reviewed whether payments made by a corporation in 2013 […]
November 19, 2024
U.S. Challenges Canada’s Digital Services Tax Act Under CUSMA
The Federal budget proposed AMT changes impact tax benefits for individuals and trusts.
November 15, 2024
Employment Expenses: Salary to Spouse
A June 17, 2024, Tax Court of Canada case reviewed a commission salesperson’s deduction for remuneration paid to […]
November 4, 2024
Psychotherapy and Counselling Therapy: GST/ HST?
As of June 20, 2024, certain psychotherapy and counselling therapy services have become exempt from GST/HST. This means […]
July 26, 2024
US Tax Issues for US Citizens and Green Card Holders Living in Canada
Filing Requirement The liability for US tax is based on both citizenship and residence. Therefore, as a US […]
July 5, 2024
Expense Claims that Pass the Audit Test
Often taxpayers are audited by the Canada Revenue Agency (CRA) and end up being surprised when some or […]
March 12, 2024
Working from Home Expenses: Employment Expenses
The $2/day flat rate method available to claim expenses for employees working from home was a temporary administrative measure only available from 2020 to 2022; it is no longer available in 2023. As such, employees working from home can only use the detailed calculation when claiming expenses.
March 5, 2024
How to Make a Payment with Canada Revenue Agency for Your Business
Online Banking Payments Make a payment to the CRA through online banking, the same way you pay your […]
February 13, 2024
New Trust Reporting: Unexpected Exposure
Breaking news! The CRA will not require bare trusts to file a T3 Income Tax and Information Return […]
February 6, 2024
AUTOMOBLE DEDUCTION AND BENEFIT RATES: 2024 Limits Released
Various automobile deductions and taxable benefit rates are limited to amounts prescribed by the Department of Finance annually. […]
December 14, 2023
REVIVAL OF A CORPORATION: Tax Collection
A June 12, 2023, Court of King’s Bench of Alberta case reviewed CRA’s application to revive a corporation […]
December 11, 2023
SURCHARGE TO ACCEPT PAYMENT VIA CREDIT CARD: GST/HST?
As of October 2022, merchants could charge an additional fee for accepting payment via credit card. In a […]
December 8, 2023
ENHANCED GST RESIDENTIAL RENTAL REBATE: Increased Incentives
On September 14, 2023, the Department of Finance provided details on a proposal to enhance the existing GST […]
November 17, 2023
Boost Your Employee Productivity and Profitability in Business Services
Investing in development, technology, automation, and outsourcing can improve employee productivity and profitability in business services. In this […]
November 2, 2023
CEBA REPAYMENT DEADLINE EXTENDED: Some Issues
On September 14, 2023, the Department of Finance provided details on extending the deadline for Canada Emergency Business […]
October 25, 2023
PAYING RENT TO NON-RESIDENTS: Withholdings
Required
In a March 30, 2023, Tax Court of Canada case, the taxpayer was assessed for failing to withhold […]
October 20, 2023
GIFTS DIRECTED TO OTHER DONEES: Loss of
Charitable Status
In some situations, a registered charity may be asked to receive donations on behalf of another organization or […]
October 13, 2023
CRYPTOCURRENCY EXCHANGE CESSATION: Recordkeeping
A June 7, 2023, CryptoTaxLawyer.com article (Binance Bids Canada Bye-Bye! Canadian Tax Implications for Cryptocurrency Investors and Traders) […]
October 4, 2023
DISABILITY TAX CREDIT (DTC): Electronic
Applications
The DTC is a non-refundable tax credit that provides tax relief for individuals (or those that support those […]
September 28, 2023
Is it time to ditch the hourly billing model?
With an hourly-based billing model, there are only two ways to generate more revenue: 1) increase the bill […]
September 27, 2023
WITHDRAWING FROM FAMILY RESPs: Flexible Planning Possibilities
A July 21, 2021, Money Sense article (My three kids chose different educational paths. How do I withdraw […]
September 26, 2023
Automate and Elevate: Driving Business Value to New Heights
Professional services firms face a number of similar challenges that include improving project profitability and margins, adapting to […]
September 21, 2023
Replacement Property Rules Pertaining to Real Estate and Business Properties
When a taxpayer (including a corporation) disposes of real estate for more than its cost, the capital gain […]
September 20, 2023
CPP ENHANCEMENTS: Higher Contributions and Higher Benefits
In 2019, the government commenced a two-part enhancement to the Canada Pension Plan (CPP), with full implementation to […]
September 12, 2023
FIRST HOME SAVINGS ACCOUNT (FHSA): A New Investment Tool
The tax-free FHSA was introduced in 2023 to help first-time home buyers save up to $40,000 for a […]
September 6, 2023
MULTIGENERATIONAL HOME RENOVATION TAX CREDIT: More Housing Support
The multigenerational home renovation tax credit is a refundable tax credit applicable to the costs of constructing a […]
August 17, 2023
EMPLOYMENT EXPENSES FOR COMMISSIONED EMPLOYEES: Sponsorship
In a January 23, 2023, French Court of Quebec case, a commissioned salesperson deducted nearly $600,000 over 2015 […]
July 28, 2023
US Citizens Living Abroad can Become Compliant with Their US Tax Obligations Relatively Unscathed by Using the Streamlined Filing Compliance Procedure
The Internal Revenue Service (IRS) has acknowledged that there are many US taxpayers outside of the USA who […]
July 27, 2023
Are All Healthcare Services GST/HST Exempt?
Generally, healthcare professionals are not registered for GST/HST due to the fact that the majority, if not all, […]
July 13, 2023
TFSA: Carrying on a Business Within It
Earnings in a TFSA are typically not taxable. However, earnings in a TFSA become taxable when they are […]
June 15, 2023
Underused Housing Tax (UHT): Increased Disclosures and Taxes
UHT is a 1% federal tax intended to apply to the value of vacant or underused residential real […]
June 9, 2023
Employee Time Theft: Some Challenges
A January 11, 2023, BC Civil Resolution Tribunal case addressed a claim for wrongful dismissal. The employer filed […]
June 8, 2023
Budget 2023: Top Five Items for Owner-Managers
Budget 2023 (A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future) was introduced in the House of […]
May 25, 2023
I Own a Small Business. Should I Incorporate?
This is a very common question among small business owners, and the answer depends on a number of […]
May 4, 2023
VIDEO LEGACY: What Message Am I Leaving?
When conducting our estate plans, we are often focused on the distribution of assets (such as homes, bank […]
March 29, 2023
Federal Budget Commentary 2023
On March 28, 2023, Deputy Prime Minister and Minister of Finance Chrystia Freeland released Canada’s 2023 Budget (Budget 2023).
March 24, 2023
2023 Ontario Budget Commentary
Budget 2023 revealed the framework for Ontario’s “Plan to Build”: a targeted approach to help people and businesses by offering tax relief to manufacturers and small businesses.
March 24, 2023
UNREPORTED REAL ESTATE DISPOSITIONS: Multiple Issues
A September 12, 2022, Tax Court of Canada case reviewed the gain on a residential property purchased in […]
March 10, 2023
WITNESSES FOR LEGAL DOCUMENTS: Choose them Wisely
A June 17, 2022, Ontario Superior Court of Justice case considered whether a will had been appropriately witnessed. […]
March 7, 2023
EMPLOYEE GIFTS AND PARKING: Updated CRA
Policies
CRA updated several administrative policies in respect of employment benefits, effective January 1, 2022. Two of the key […]
February 23, 2023
CANADA DENTAL BENEFIT: Support for those
with Young Children
The Canada dental benefit, announced in September 2022, provides up-front tax-free payments to cover dental expenses for children […]
February 8, 2023
COVID BENEFITS: Review/Audit Activity
On December 6, 2022, the Auditor General of Canada released its report on COVID benefit compliance enforcement. The […]
February 3, 2023
U.S. Tax Compliance for Canadians Who Own U.S. Real Property
U.S. Rental income If a Canadian resident receives rental income from real property located in the U.S., they […]
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