CALL TODAY 1-888-868-1400

Download our FREE eBook

Learn about the different methods that many Canadian individuals and businesses have leveraged to successfully reduce or eliminate penalties and interest owing on their tax debts.

Download Now

Tax Solutions Canada Blog

When You Owe Money – CRA Collection Powers

tax debt

How the CRA Collects Tax Debt If you owe money to the Canada Revenue Agency (CRA) you might think that this debt is just like any other debt. Unfortunately, this is not true. Unlike other creditors, the CRA has very strong and very broad powers that it can use to…

...

Read More

Canada Revenue Agency Looking Into PayPal Business Account Details

The CRA Orders PayPal to Provide Information About Business Accounts News broke recently that PayPal has been ordered by the Canada Revenue Agency (CRA) to provide information about its business account holders to the agency. PayPal received a Federal Court order requiring it to disclose to the CRA all information…

...

Read More

Missed the Deadline to File a Notice of Objection? You Have Options

notice of objection

Extending Your Time to File a Notice of Objection Once you submit your income taxes to the Canada Revenue Agency (CRA) the agency will review them and then send you a Notice of Assessment. If the CRA later decides to reassess your taxes for any reason, it will send you…

...

Read More

The Paradise Papers: International Income & The Voluntary Disclosure Program (VDP)

International Tax Havens and the Paradise Papers The Paradise Papers, a leak of 1.3 million records from offshore law firm Appleby and the corporate registries of 19 tax havens, show that roughly 3,300 Canadian companies, trusts, individuals, and foundations are named in the largest ever leak involving Canadians who keep…

...

Read More

Employing Family Members, What You Need to Know for Tax Purposes

tax family

Taxes and Employing your Family Many small business owners employ their family members. This allows them to find employees without conducting a series of interviews, work with people they know and trust, and it also makes it possible to keep the business “in the family.” However, the Canada Revenue Agency…

...

Read More

Preparing Yourself for a CRA Tax Audit

What Can You Do to Prepare for a CRA Tax Audit? The words “CRA Tax Audit” send shivers down many people’s spines. And, in most cases, there’s good reason. CRA audits are often intrusive, time-consuming, confusing and, depending on the outcome of the audit, costly. Individuals can be selected at…

...

Read More

The CRA Cracks Down on Presale Condo Flips in Toronto and Vancouver

condo flipping

Pre-construction Condo Flips Being Investigated as Part of a Crackdown on Tax Evasion The Canada Revenue Agency (CRA) is currently analyzing thousands of preconstruction condo sales in Toronto and is requiring condo developers in Vancouver to provide information about buyers who sold units before buildings were completed. This is part of…

...

Read More

Taxes and Real Estate Investment in Canada

What Real Estate Investors Need to Know About Taxes Real estate can be a very good investment and it’s one that many Canadians choose. Not only can a person earn money by renting out their properties, but real estate tends to appreciate over time, leaving you with a good long-term…

...

Read More

Canada’s New Residential Rental Property Rebate: What You Should Know

Claiming the New Residential Rental Property Rebate in Canada When a person purchases a new residential rental property in Canada, you have to pay Goods and Services Tax (GST) or Harmonized Sales Tax (GST) on the sale. However, there is a rebate available to landlords who purchase a new residential…

...

Read More

Outlining Upcoming Changes to the CRA Voluntary Disclosure Program

Changes Coming to the CRA Voluntary Disclosure Program The Canada Revenue Agency (CRA) is making changes to the Voluntary Disclosure Program (VDP). The changes are designed to tighten the program to ensure that “those who break the law face the consequences of their actions,” in the words of the federal…

...

Read More
1 2 3 26