Deductibility of Legal or Accounting Fees to Challenge an Income Tax Assessment

Legal or accounting fees incurred to challenge a Canadian income tax assessment are a deductible…

Published: March 5, 2020

Last Updated: March 17, 2020

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Donating an interest in a personal residence to a charity?

Individuals with grown children who own their own homes or with no children should consider…

Published: March 5, 2020

Last Updated: April 17, 2020

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Business Income-Tax Deductions for Life-Insurance Premiums – A Canadian Tax Lawyer’s Analysis

Introduction: Business Deductions for Life-Insurance Costs When computing taxable income, a taxpayer may deduct business…

Published: March 5, 2020

Last Updated: October 25, 2021

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Charitable Tax Receipts

As of Jan 1, 2005, charitable tax receipts issued by registered Canadian charitable organizations under…

Published: March 5, 2020

Last Updated: April 17, 2020

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No More Graduated Tax Rates for Testamentary Trusts

As of January 1, 2016 testamentary trusts, both existing and new ones, will have to…

Published: March 5, 2020

Last Updated: April 16, 2020

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Record Keeping to Deduct Business Expenses for Canadian Income Tax Purposes

It is common for our top Canadian income tax firm to encounter Canadian income tax…

Published: March 5, 2020

Last Updated: October 21, 2022

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Tax-Free Savings Accounts– Relief from Assessed Taxes

Introduction The rules relating to Tax-free savings accounts are relatively complex and a failure to…

Published: March 5, 2020

Last Updated: March 17, 2020

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Hair transplant costs paid to a doctor

Hair transplant costs paid to a doctor will generally qualify as medical expenses and will…

Published: March 5, 2020

Last Updated: April 17, 2020

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Carrying on a Trading Business inside a TFSA

In order to remain tax free, investments in a tax free savings account (TFSA) have…

Published: March 5, 2020

Last Updated: October 21, 2022

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