Archive for Category: Tax Penalties

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Foreign Property Reporting Requirements and PayPal Accounts: A Canadian Tax Lawyer’s Guide

Introduction – Digital Payment Services and Financial Reporting Obligations Digital payment services like those offered by PayPal, which are used to facilitate money transfers domestically and internationally, are now well-integrated into our personal and professional lives. Whether your PayPal account is used for genuine commercial purposes, however, or for...

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A picture of unpaid taxes by a director with a post it note on a laptop reading ”tax deadline

Zvilna v. Canada: Director’s Liability for Unpaid Taxes: A Canadian Tax Lawyer’s Note of Caution to Directors

Background on Directors Liability for Taxes: The Tax Court of Canada has recently decided a case regarding director’s liability for unremitted GST/HST. Generally, a director of a corporation can be held personally liable to CRA for various corporate liabilities such as unremitted GST and HST, as well as unremitted...

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