Archive for Author: taxlaw

Taxation of Cryptocurrency and Barter Transactions – A Toronto Tax Lawyers Analysis

Introduction – Cryptocurrency Transactions and Taxation Cryptocurrency is a popular means of conducting transactions online. Widespread cryptocurrency tokens such as Bitcoin, Ethereum, Litecoin, Dash, and Stellar have become acceptable payment currencies for some e-commerce merchants across the world. For Canadian businesses that are looking to accept cryptocurrencies for payments...

Read More

RRSP Prohibited & Non-Qualifed Investments

RRSP Background – RRSP Anti-Avoidance Rules: Prohibited and Non-Qualified Investments Registered retirement savings plans (RRSPs) are a tax efficient method of investment for individuals created by the government to encourage Canadians to save for retirement.  The basic structure of an RRSP is that a financial institution (the issuer) holds...

Read More

Canadian Lawyer Analysis: Income Tax Consequences for Employee and Employer Receiving or Paying Wages or Salaries in Cryptocurrency

Introduction: The Starting Point of the Taxation of Employment Income Every person resident in Canada must pay income tax on the taxable income for each taxation year. Section 3 of the Canadian Tax Act sets out five main sources of income: office, employment, business, property, and capital gains/losses. In...

Read More