Overview – A Toronto Business Owner, the COVID-19 Pandemic, and the Canada Emergency Rent Subsidy Program Milne v The King is a 2026 decision from the Tax Court of Canada regarding taxpayer eligibility for the Canada Emergency Rent Subsidy (“CERS”) program in which the taxpayer operated a business out of...
The recent decision in C&W Offshore Ltd. v. HMK, 2026 TCC 40, serves as a stark reminder to Canadian businesses of the rigorous obligations imposed by Part XIII of the Income Tax Act (ITA) when dealing with non-resident suppliers. The case centered on two primary issues: first, whether rental...
Overview: How the CRA may deal with incomplete or unreliable tax records The case of Karlozian v. The King deals with an important issue in Canadian tax law: how the Canada Revenue Agency (CRA) determines unreported income when a taxpayer’s records are incomplete or unreliable. The case also examines...
Overview of Canadian Regulatory Framework for Foreign Exchange Businesses Foreign exchange bureaus operating in Canada are subject to a comprehensive compliance regime under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA), administered primarily by the Financial Transactions and Reports Analysis Centre of Canada, alongside tax reporting...