Canada’s Competitiveness In The Global Tax Landscape
Canada has a strong economic relationship with the United States, thanks in part to sharing borders, values, and interests. These close connections help to explain why, according to the Office of the United States Trade Representative, trade between these two countries totaled over $900 billion in 2022. Canada’s competitive tax rates help to form another […]
Canada Revenue Agency Tax Collection Policies
Owning a business allows you to set your own hours, hire employees who meet your standards and align with your values, and enjoy many other perks that come with being your own boss. However, business ownership also comes with significant responsibilities. One such responsibility is paying business taxes. Managing business tax compliance can be confusing, […]
GST/HST And Homecare Services
In Canada, there is a long history of publicly funded or subsidized homemaker services being exempt from the goods and services tax (GST) or harmonized sales tax (HST). There have however been changes to the regulations governing the tax exemptions on these in-home services. While the general rules have not changed significantly in the past […]
Exploring The Ethics Of Tax Planning In Canada
Tax professionals such as accountants, tax preparation specialists, and Canadian tax attorneys must adhere to a strict set of professional ethics. These individuals are subject to the ethical standards of their profession not only when calculating taxes, but when providing guidance to individuals or businesses on tax planning in Canada. The experienced tax attorneys with […]
The Impact Of Carbon Tax On Canadian Corporations
Since 2008, British Columbia has applied a carbon tax. In 2019, the Government of Canada implemented this tax nationwide. While Canada allows provinces to either adopt the federal pricing system or create their own, this flexibility may cause confusion for those responsible for ensuring tax compliance in Canadian corporations. What is this carbon tax? Who […]
Selling To BC? British Columbia And PST Registration Rules
All businesses based in British Columbia that sell taxable goods, software, or services need to complete British Columbia PST registration. In addition, some businesses based outside the province need to register to collect PST if they sell to British Columbia. An experienced Canadian tax lawyer can advise you on the steps you need to take. […]
Tax Considerations In Mergers And Acquisitions In Canada
A merger of two or more companies, or the acquisition of one company by another, can have serious tax implications for all entities involved, as well as any subsidiaries. The Canada Revenue Agency (CRA) takes a close look at all mergers and acquisitions under its jurisdiction, and the tax requirements for these transactions can be […]
The Influence Of Trade Agreements On Canadian Corporate Tax
Canada’s free trade agreements are an important and integral part of keeping the country’s economy strong. Free trade supports businesses and the supply chain. Designed to foster the unencumbered flow of commerce, Canada’s trade agreements serve to keep the markets open and allow for multilateral trading. These agreements are negotiated to not only benefit Canadian […]
GST/HST On Out Of Pocket Expenses
The Goods and Services Tax (GST) and Harmonized Sales Tax (HST) can pose various challenges for those filing taxes in Canada, especially when it comes to out of pocket expenses. The Canadian Revenue Agency and Provincial tax authorities have many rules when it comes to calculating these expenses, and it is important to gain a […]
The Impact Of Technology On Tax Compliance In Canada
Tax compliance is essential to the integrity of Canada’s numerous tax structures. Consequently, the Canada Revenue Agency (CRA) takes enforcement extremely seriously, and ensuring tax compliance is an important part of operations for any Canadian business. Today, technology is taking a larger role in the assessment, remittance, and review of taxes, both for businesses and […]