Introduction – Cryptocurrency and NFTs should be disclosed as matrimonial property A divorce will result in many financial changes and one of the major issues for divorcing couples is division of matrimonial property. As cryptocurrency and NFT investments continue to grow, a rising issue is whether they should be...
What is the Voluntary Disclosure Program? The Canada Revenue Agency’s voluntary disclosure program allows taxpayers to come forward proactively to correct prior errors or omissions with their taxes. Our experienced Canadian tax lawyers can identify whether the voluntary disclosure program would be beneficial and applicable for you. To incentivize...
Introduction: Net Worth Assessments Net worth assessments may be undertaken by the tax auditor when the Canada Revenue Agency (CRA) considers a taxpayer’s return to be inaccurate or when the taxpayer has not kept adequate records of the taxpayer’s income for one or more years. Subsection 152(7) of the...