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 member of the Gift Planning Services Committee of the Hamilton Health Sciences Foundation and in 2018, 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
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 […]
December 22, 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 […]
December 8, 2022
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 […]
December 2, 2022
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 […]
November 18, 2022
Use of a Professional Corporation on Retirement
For professionals, the use of a Professional Corporation (PC) can provide key benefits in terms of income splitting […]
November 16, 2022
CROWD FUNDING: Taxable or Not?
A June 2, 2022, Technical Interpretation discussed the taxability of funds received through crowdfunding campaigns. CRA first noted […]
November 14, 2022
2022 Ontario fall fiscal update
(authored by RSM CANADA) On Nov. 14, 2022, Ontario's Minister of Finance, Peter Bethlenfalvy, released the 2022 Ontario Economic Outlook and Fiscal Review which serves as an update to Ontario's 2022 Budget.
November 11, 2022
TIPS COLLECTED ELECTRONICALLY: Withholding Requirements
Where tips are “paid” by an employer, they are pensionable and insurable. In such cases, the employer must […]
November 8, 2022
EXECUTOR: Whether to Accept This Role
October 26, 2022
SHARED CUSTODY ARRANGEMENTS: Impact of School Closures
In an April 21, 2022, Tax Court of Canada case, the Court reviewed whether the taxpayer and her […]
October 14, 2022
CPP DISABILITY BENEFIT: Following the Doctor’s Advice
In a June 6, 2022, Federal Court of Appeal case, the Court addressed an application for judicial review […]
October 5, 2022
Bare Trust Reporting Requirements
The Department of Finance originally announced additional reporting requirements in the 2018 Federal Budget requiring certain trusts to […]
September 27, 2022
Professional Development and Continuing Education Expenses – Deductible or Not?
One of the key traits of a professional is a desire and need for regular professional development and […]
September 15, 2022
Will you have to pay a new tax on your luxury items?
On Sept. 1, 2022, the Luxury Tax Act came into force which imposes a tax on the sale and import of certain vehicles, aircraft, and vessels exceeding a specified price threshold.
September 15, 2022
On Again Off Again – A Review of the Immediate Expensing Rules upon Coming into Force
On April 18th, 2021, the Minister of Finance announced measures that would allow businesses to immediately write off […]
September 13, 2022
PRINCIPAL RESIDENCE EXEMPTION: Land in Excess of One-half Hectare
September 9, 2022
REQUIRED TRAVEL: Between Home and Work
August 18, 2022
ESTIMATED SALES BY CRA: Audit File Selection and Assessment
In an attempt to identify unreported revenue, CRA and Revenu Québec may compare a business’ reported revenue to […]
August 16, 2022
SCC: Rescission Not Available to Avoid Unforeseen Tax Consequences
(authored by RSM CANADA) The Supreme Court of Canada found that rescission, a type of equitable remedy, is not available to fix unexpected tax outcomes.
August 5, 2022
Residential Property Flipping – Important Taxation Considerations
Canadian residents who dispose of their family home and realize a gain may be eligible to claim an […]
August 4, 2022
Home Office and Permanent Establishment for Non-resident Corporations
Home office(s) in Canada may constitute a permanent establishment of the non-resident corporation in Canada if the employer requires the employees to work from home.
August 1, 2022
Post pandemic new hybrid-work era and related tax considerations
(authored by RSM CANADA) The pandemic has led to an increase in remote work. This article discusses the tax considerations and pitfalls of implementing a hybrid-work model in order to adapt to an evolving global workforce.
July 28, 2022
GST/HST Implications on Associate Agreements
Associates are a key part of the healthcare industry as a large majority of practitioners either are one […]
July 14, 2022
DIGITAL ADOPTION PROGRAM: Grants, Loans, and Professional Assistance
July 6, 2022
MONEY RECEIVED FROM ABROAD: CRA Reviews
As of 2015, financial institutions must report electronic fund transfers (EFT) into Canada of $10,000 or more not […]
June 17, 2022
Income Splitting – Prescribed Rate Loans
A common question that gets asked is, “Are there any ways of splitting income with my spouse?” This […]
June 16, 2022
AUDITING OLD TAX RETURNS: CRA Abilities and Limitations
CRA may reassess the tax returns for CCPCs and individuals within three years from the sending of the […]
June 7, 2022
Payroll Considerations for Foreign Employees Working in Canada
Foreign employers should understand that sending even one employee to work in Canada will trigger a payroll obligation. […]
May 12, 2022
CRA COLLECTIONS: Potential Impact on Business
As some businesses struggle with cash flow, they may be motivated to prioritize suppliers and other creditors ahead […]
April 8, 2022
2022 Canada Federal Budget: Detailed commentary
Budget 2022 is based on three pillars: (i) investing in people by increasing the housing supply and establishing affordable child care, (ii) facilitating a transition to a green economy to fight climate change, and (iii) incentivizing and supporting Canadian production and innovation.
March 22, 2022
TEACHERS AND EARLY CHILDHOOD EDUCATORS:
Expanded Access to Tax Credit
The eligible educator school supply tax credit is a refundable tax credit that allows teachers and early childhood […]
March 18, 2022
FALSIFIED EMPLOYMENT RECORDS: The Penalties
Can be Large
With numerous COVID-19 benefits being based on employment and remuneration levels, the federal government has likely become increasingly […]
March 11, 2022
OLD AGE SECURITY (OAS): Clawback Planning
Individuals who normally receive OAS are occasionally surprised when some OAS is subject to a special tax (commonly […]
March 4, 2022
SMALL BUSINESS AIR QUALITY IMPROVEMENT TAX CREDIT: Could Your Business Benefit?
The December 14, 2021, Economic and Fiscal Update proposed a temporary refundable small businesses air quality improvement tax […]
February 17, 2022
CORPORATE ADVERTISING AND PROMOTION EXPENSES: CRA Increasing Reviews
January 31, 2022
Considerations for Using a Spousal RRSP
For a number of years the government has given taxpayers the ability to split certain pension income with […]
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