Canadian residents pay income tax on their worldwide income. In an effort to crack down on unreported offshore income, the Canada Revenue Agency (the “CRA”)…
As part of its response to the COVID-19 outbreak, the Government of Canada has created a number of emergency benefits to assist individuals and businesses…
The Canada Revenue Agency (the “CRA”) recently published a news release (the “Release”), in which it identifies over $1 billion in unpaid taxes in the…
The British Columbia Court of Appeal (the “BCCA”) reversed (the “Decision”) a landmark decision (the “Lower Court Decision”) that had awarded a B.C. couple (the…
Section 67.6: “In computing income, no deduction shall be made in respect of any amount that is a fine or penalty (other than a prescribed…
The Canada Revenue Agency (the “CRA”) appears to be targeting users of bitcoin and other cryptocurrencies for audit, according to a Forbes online article (the…
The Canada Revenue Agency (the “CRA”) has launched roughly 100 audits into taxpayers named in the Paradise Papers offshore tax leak, according to documents tabled…
The CRA is focussed on recovering lost revenue in the real estate market. In particular, it is targeting home sales in Vancouver and Toronto. On…
Uber wants its users, its drivers and particularly the Canada Revenue Agency (the “CRA”) to agree that it does not provide “rides” to its “customers”….
Ontario restaurant and bar owners are likely the latest target of the Canada Revenue Agency’s (the “CRA”) effort to audit unreported or under-reported income tax…
Vern Krishna of TaxChambers LLP discusses the importance to provide timely and accurate help from the Canada Revenue Agency (CRA) to taxpayers in his featured article, Taxpayers need a…
Vern Krishna of TaxChambers LLP discusses the implications of a Canada Revenue Agency “net-worth” or arbitrary assessment as well as the reasons why the CRA would assess a taxpayer…
$1.7M for CRA’s “Malicious Prosecution” Set Aside on Appeal
The British Columbia Court of Appeal (the “BCCA”) reversed (the “Decision”) a landmark decision (the “Lower Court Decision”) that had awarded a B.C. couple (the…