Insurance is complex enough – what happens when it intersects with our tax system? We have good news… Under the Excise Tax Act, insurance is a financial service, making it exempt from GST. If we only had to address the GST, this would be a simple, short article. However… And we have bad … [Read more...]
The Tax Court of Canada
Which is Canada's youngest superior court? The Tax Court! Did you know that the Tax Court of Canada is widely respected for its fairness and efficiency? Do you know the powers of the Tax Court? How about the jurisdiction? Did you know that Tax Court Justices are required to reside within 40 … [Read more...]
Gambling with your Taxes: Are Gambling Winnings a “Prize” Under the Income Tax Act?
During the recent summer Olympic Games we learned that Canadians, Americans and athletes from other countries receive a financial bonus for each medal they win, the size of the bonus depending upon the colour of the medal. This income is also taxed, a fact that is stirring legislators in the U.S. … [Read more...]
The Tax Court of Canada: An Introduction
While many would share Scarlett O’Hara’s belief that there is never a convenient time for taxes, let alone a convenient time for tax problems, Canadians can take great relief in knowing that there is a convenient forum for resolving most tax problems. Although the Tax Court of Canada is one of … [Read more...]
The Taxpayer Bill of Rights
The Taxpayer Bill of Rights is a set of fifteen statutory and administrative rights outlining the service standards that Canadian taxpayers can expect in their dealings with the Canada Revenue Agency (CRA). The Bill was introduced in 2007 on the premise that increased accountability and … [Read more...]
