Published: April 24, 2023
TORONTO, ON – April 24, 2023 – Canadian tax lawyer and chartered accountant David J Rotfleisch today released the second edition of “Canadian Tax Facts,” a global resource compiled for reporters, editors, and TV/radio producers as well as anyone interested in business tax rates, personal tax rates, tax audits, tax reassessments, cryptocurrency tax, and tax evasion/unreported offshore income/Black Money.
Rotfleisch is managing partner of Rotfleisch and Samulovitch, Canadian tax lawyers.
Equally important, “Canadian Tax Facts 2023” is intended to be a source of story ideas for journalists who “follow the money.”New this year is a section on cryptocurrency and non-fungible tokens (NFTs).
“The information gaps we have uncovered about the Canada Revenue Agency (CRA), for example, will likely require an Access to Information Act request,” said Rotfleisch, noting the opacity of CRA is a news story.
“The focus on tax has never been greater. Governments around the world are grappling with how to pay for the pandemic and how to control inflation. At the same time, governments will soon be ramping up renewable energy infrastructure, to help deal with climate change,” said Rotfleisch.
There is a global movement against plutocrats and Russian oligarchs as shown by the Pandora Papers, the Paradise Papers, and the Panama Papers released by the International Consortium of Investigative Journalists (ICIJ).
“And governments are struggling with how to both regulate and tax cryptocurrencies,” said Rotfleisch, adding that Canadian cryptocurrency taxation is a particular area of expertise for the firm.
He pointed out that having an offshore account is not illegal for Canadians, but not reporting an offshore account and not paying tax on it is illegal. Tax avoidance—abiding by the tax rules—is much of tax planning, along with tax deferral. Tax evasion is, of course, illegal.
“In the words of Albert Einstein: ‘The hardest thing in the world to understand is the income tax.’ Einstein found his Theory of Relativity easy to understand,” said Rotfleisch.
“Canadian Tax Facts” will be updated annually and distributed to interested media, businesses and individuals via the Taxpage.com website.
Rotfleisch and Samulovitch operates a number of Canadian tax websites with lots of useful videos and articles: 1) Taxpage.com, 2) TaxLawCanada, 3) CanadianTaxAmnesty.ca, 4) GoodServiceTax.com, and 5) CryptoTaxLawyer.com.
David J Rotfleisch, Managing Lawyer
Rotfleisch & Samulovitch P.C.
2822 Danforth Avenue
Toronto, Ontario M4C 1M1
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The Legal A Team
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."