26 plain-English guides on canadian tax, each one ending in what to do next.
The CRA agrees with taxpayers on objections 55% of the time, but success rates vary widely by issue type. See which disputes are worth fighting.
Canadian TaxWhen a Canadian corporation fails to remit payroll source deductions, GST/HST, or employee CPP/EI premiums, the CRA can pursue the directors personally.
Canadian TaxHow CRA installment payment arrangements work, what the CRA will accept, the interest that keeps accruing, and the consequences of missing a payment.
Canadian TaxCRA late-filing penalties for T1, T2, T1135, and information returns. How the automatic and repeated penalties work, and when the CRA will waive them.
Canadian TaxHow the CRA uses the net worth method to reassess unreported income, the common errors in its math, the burden of proof, and how to challenge it.
Canadian TaxA personal services business (PSB) reclassification is one of the most expensive things the CRA can do to a small corporation.
Canadian TaxThe CRA also reassesses under ITA 15(2) when a shareholder borrows from the corporation and does not repay within the statutory window.
Canadian TaxWhat to do when the CRA denies or reduces your SR&ED claim.
Canadian TaxThen, when the estate redeems or sells those shares back to the corporation, subsection 84(2) converts the redemption proceeds into a deemed dividend.
Canadian TaxOntario's estate administration tax charges 1.5% on every dollar of estate value above $50,000. On a $2 million estate. Covers key rules, filing.
Canadian TaxThe CRA sends review letters, processing reviews, and full audits. Most people call all of them an audit, but the response strategy changes with each type.
Canadian TaxWhat happens when the CRA starts collecting: Requirements to Pay, wage garnishment, frozen accounts, liens, and the five ways to stop or slow it.
Canadian TaxWhat the CRA's gross negligence penalty under section 163(2) requires, how it differs from a regular penalty, and the burden of proof the CRA must meet.
Canadian TaxHow to file a CRA notice of objection, the 90-day deadline, what to write, real success rates, and your options if the CRA says no. Includes Form T400A.
Canadian TaxWhat to do when you disagree with a CRA reassessment. Objection deadlines, what to write, real success rates, interest during the dispute, and Tax Court.
Canadian TaxIf the CRA denied your notice of objection and issued a Notice of Confirmation, the Tax Court of Canada is the next step.
Canadian TaxCCPC status unlocks the small business deduction (9% on the first $500,000), the lifetime capital gains exemption, and refundable tax on investment income.
Canadian TaxRepresent a Client (RaC) is the CRA's online service that lets authorized representatives, like a CPA or tax preparer, access a taxpayer's information.
Canadian TaxA deemed disposition is a fiction in the Income Tax Act that treats you as having sold property at fair market value (FMV).
Canadian TaxA family trust in Canada is a type of personal (inter vivos) trust created during the settlor's lifetime, typically to hold assets for the benefit.
Canadian TaxCanada has no gift tax, but gifting property like stocks or real estate triggers a deemed disposition at fair market value.
Canadian TaxCanada has no inheritance tax, but the deceased's terminal return owes tax on deemed capital gains at death. Provinces charge probate fees.
Canadian TaxCanadian trust law and tax law treat revocable and irrevocable trusts very differently, and the distinction matters more here than in the US. In the US.
Canadian TaxThe T1135 is required when your foreign property exceeds $100,000 CAD (cost, not market value) at any point as a Canadian resident.