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Picture of man at table with computer, phone and paperwork holding bills

<img width="914" height="609" src="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income.jpg" class="attachment-full size-full wp-post-image" alt="Picture of man at table with computer, phone and paperwork holding bills" decoding="async" srcset="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income.jpg 914w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-300x200.jpg 300w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-768x512.jpg 768w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-600x400.jpg 600w" sizes="(max-width: 914px) 100vw, 914px" />

Posted on 09 Mar 2023

/ taxlaw

How to use ‘loss carryovers’ to reduce your taxable Canadian income

Loss carryovers are an important tool that taxpayers can utilize to reduce their taxable income. When taxpayer incurs a loss, they can use the loss to offset income that would otherwise be taxable. The timing and nature...

Income Tax Planning

Image of person closing mostly empty glass jar with one roll of bills

<img width="914" height="609" src="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17.jpg" class="attachment-full size-full wp-post-image" alt="Image of person closing mostly empty glass jar with one roll of bills" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17.jpg 914w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-300x200.jpg 300w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-768x512.jpg 768w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-600x400.jpg 600w" sizes="(max-width: 914px) 100vw, 914px" />

Posted on 28 Feb 2023

/ taxlaw

When a Tax-Free Savings Account (TFSA) is a Business & Stripped of Tax Benefits: A Case Comment on Ahamed v The King, 2023 TCC 17

In 2009, the Tax-Free Savings Account (“TFSA”) program was introduced by the federal government of Canada as a means to allow Canadian families and individuals to more responsibly plan for retirement or significant life purchases. As of...

Tax-free savings accounts

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Picture of man at table with computer, phone and paperwork holding bills

<img width="150" height="120" alt="Picture of man at table with computer, phone and paperwork holding bills" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Picture of man at table with computer, phone and paperwork holding bills" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

09Mar

How to use ‘loss carryovers’ to reduce your taxable Canadian income

Loss carryovers are an important tool that taxpayers can utilize to reduce...

Image of person closing mostly empty glass jar with one roll of bills

<img width="150" height="120" alt="Image of person closing mostly empty glass jar with one roll of bills" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Image of person closing mostly empty glass jar with one roll of bills" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

28Feb

When a Tax-Free Savings Account (TFSA) is a Business & Stripped of Tax Benefits: A Case Comment on Ahamed v The King, 2023 TCC 17

In 2009, the Tax-Free Savings Account (“TFSA”) program was introduced by the...

Person pointing to computer talking to a business owner about their taxes

<img width="150" height="120" alt="Person pointing to computer talking to a business owner about their taxes" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Person pointing to computer talking to a business owner about their taxes" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

13Feb

Compensation for Business Owners: How Benefits are Taxed for Shareholders and Shareholder-Employees

Overview: Unique Tax Considerations for Shareholder-Employees of a Corporation It is not...

Picture of man at table with computer, phone and paperwork holding bills

<img width="150" height="120" alt="Picture of man at table with computer, phone and paperwork holding bills" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Picture of man at table with computer, phone and paperwork holding bills" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/03/How-to-use-‘loss-carryovers-to-reduce-your-taxable-Canadian-income-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

09Mar

How to use ‘loss carryovers’ to reduce your taxable Canadian income

Loss carryovers are an important tool that taxpayers can utilize to reduce...

Image of person closing mostly empty glass jar with one roll of bills

<img width="150" height="120" alt="Image of person closing mostly empty glass jar with one roll of bills" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Image of person closing mostly empty glass jar with one roll of bills" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/When-a-Tax-Free-Savings-Account-TFSA-is-a-Business-Stripped-of-Tax-Benefits-A-Case-Comment-on-Ahamed-v-The-King-2023-TCC-17-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

28Feb

When a Tax-Free Savings Account (TFSA) is a Business & Stripped of Tax Benefits: A Case Comment on Ahamed v The King, 2023 TCC 17

In 2009, the Tax-Free Savings Account (“TFSA”) program was introduced by the...

Person pointing to computer talking to a business owner about their taxes

<img width="150" height="120" alt="Person pointing to computer talking to a business owner about their taxes" decoding="async" loading="lazy" data-srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-570x460.jpg 570w" data-src="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg" data-sizes="(max-width: 150px) 100vw, 150px" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img width="150" height="120" src="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg" class="attachment-finance-blog-thumb size-finance-blog-thumb wp-post-image" alt="Person pointing to computer talking to a business owner about their taxes" decoding="async" loading="lazy" srcset="https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-150x120.jpg 150w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-420x336.jpg 420w, https://taxlawcanada.com/wp-content/uploads/2023/02/Compensation-for-Business-Owners-How-Benefits-are-Taxed-for-Shareholders-and-Shareholder-Employees-570x460.jpg 570w" sizes="(max-width: 150px) 100vw, 150px" />

13Feb

Compensation for Business Owners: How Benefits are Taxed for Shareholders and Shareholder-Employees

Overview: Unique Tax Considerations for Shareholder-Employees of a Corporation It is not...

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