Archive for Author: taxlaw

Dividend Refund Rules for Private Corporations

Dividend Refund Rules for Private Corporations

Introduction: Why do private corporations receive Refundable Dividends? Canada’s Income Tax Act was originally drafted with three main principles in mind: equity, simplicity, and fairness. In essence, the overall goal of the Income Tax Act is to remove incentives or disincentives for structuring one’s affairs in a particular manner...

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Cryptocurrency Tax: OECD's 2021 Cryptocurrency Reporting Framework

Cryptocurrency Tax: OECD’s 2021 Cryptocurrency Reporting Framework

Cryptocurrency Reporting Requirements: OECD to Release Cryptocurrency Reporting Framework in 2021 The Organisation for Economic Co-operation and Development (“OECD”) is due to release a recommended policy framework for cryptocurrency reporting standards in the upcoming months. Currently, there is little cohesion or transparency among the treatment of cryptocurrencies across countries....

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T1134 CANADIAN INCOME TAX FORM: TORONTO TAX LAWYER’S GUIDE

T1134 Canadian Income Tax Form: Toronto Tax Lawyer’s Guide

T1134 Form – Introduction by Toronto Tax Lawyer The Canadian Income Tax Act levies income tax on the worldwide income of resident Canadians. Multinational business structures are efficient, from both an operational and financial standpoint, and are often necessary in order to transact with certain entities located outside Canada. However,...

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