Tax & Trade Blog
Search
-
The Luxury Tax: Missing in Action?
Feb 09 2022 - As previously discussed in our Customs & Trade Blog, the Government of Canada (“GoC”) has been preparing a “luxury tax” on cars/trucks, personal aircraft and personal boats. The luxury tax was initially proposed in the 2019 Liberal Party of Canad...
https://www.taxandtradelaw.com/Tax-Trade-Blog/the-luxury-tax-missing-in-action.html -
Kingstreet Remedy – A special relief for Taxpayers!
Dec 08 2021 - Public law (or restitutionary) remedies are usually relied on as a last resort by taxpayers facing CRA assessments. They are last resorts because they are only available in exceptional circumstances, and the CRA almost never applies them, while the C...
https://www.taxandtradelaw.com/Tax-Trade-Blog/kingstreet-remedy-a-special-relief-for-taxpayers.html -
No Progress With CRA Objections? – Read this!
Nov 24 2021 - A CRA Audit is often a lengthy and tedious process, but if an assessment is ultimately issued, that can be its own uphill battle! CRA’s dispute resolution process – also referred to as the Notice of Objections (generally “Objections”) process – often...
https://www.taxandtradelaw.com/Tax-Trade-Blog/no-progress-with-cra-objections-read-this.html -
No Relief Against Collections Actions – Hammer out a deal!
Oct 13 2021 - Judicial review applications for injunctive relief attempting to circumscribe or prohibit the CRA’s collections powers are usually doomed to failure – the test requires a high threshold to meet! Such matters must be dealt with immediately on audit, a...
https://www.taxandtradelaw.com/Tax-Trade-Blog/no-relief-against-collections-actions-hammer-out-a-deal.html -
WCO Prompts Amendments To Canada’s Customs Tariff in 2022!
Oct 04 2021 - The World Customs Organization (“WCO”) revises its Nomenclature of Harmonized Commodity Description and Coding System used for the uniform classification of goods traded internationally (“Harmonized System” or “HS Codes”), every five years. This is d...
https://www.taxandtradelaw.com/Tax-Trade-Blog/wco-prompts-2022-amendments-canada-s-customs-tariff.html -
CRA Ramping up Audits of Large Corporations
Aug 26 2021 - After suspending most audits for the early part of 2020 due to the COVID-19 pandemic, the Canada Revenue Agency (the “CRA”) has been slowly but steadily gearing up its audit activity through 2020 and the first half of 2021. This is expected to contin...
https://www.taxandtradelaw.com/Tax-Trade-Blog/cra-ramping-up-audits-of-large-corporations.html -
Beware the Director's Liability Assessment!
Aug 18 2021 - As with have blogged about many times in the past (see here, here, here, and here), one of the most misunderstood areas of the law around corporate directors is the concept of director’s liability for the corporation’s unremitted tax. Several recent...
https://www.taxandtradelaw.com/Tax-Trade-Blog/beware-the-director-s-liability-assessment.html -
Canada Consulting on New Luxury Tax for 2022!
Aug 16 2021 - In Budget 2021 the Government of Canada proposed a “luxury tax” effective January 1, 2022 on sales of certain luxury vehicles – cars/trucks, aircraft, and boats - whose selling price exceed a $100,000 threshold for cars/trucks and aircraft, and a $25...
https://www.taxandtradelaw.com/Tax-Trade-Blog/canada-consulting-on-new-luxury-tax-for-2022.html -
Interest & Penalties Apply On “Net Tax” (GST/HST)
Aug 04 2021 - The Canada Revenue Agency’s (“CRA”) administrative position on computation of interest and penalty for late-filed GST/HST returns has been that it applies on “all amounts outstanding” (notwithstanding possible available refunds, rebates or input tax ...
https://www.taxandtradelaw.com/Tax-Trade-Blog/interest-penalties-apply-on-net-tax-gst-hst.html -
Visa Card Intermediaries Exempt From GST/HST
Jul 14 2021 - The Canada Revenue Agency (“CRA”) has been rigorously challenging intermediaries in the financial services industry, categorizing their services as taxable promotional, advertisement or taxable administrative services (as opposed to treating them as ...
https://www.taxandtradelaw.com/Tax-Trade-Blog/visa-card-intermediaries-exempt-from-gst-hst.html -
Very Bad News Coming for House Flippers!
Jul 12 2021 - In a prior Blog on the “Time Bomb Ticking on Canadian Home Construction Industry” we discussed the problems facing Canadians who make money buying, fixing up, and reselling their alleged “principal residences”. We said then: “An individual buyin...
https://www.taxandtradelaw.com/Tax-Trade-Blog/very-bad-news-coming-for-house-flippers.html -
New CRA Powers for Oral Interviews of Taxpayer Employees?
Jul 09 2021 - The Canada Revenue Agency (“CRA”) has broad audit powers, allowing it to request any documents, records, and information from taxpayers and third parties under audit. The 2021 Federal Budget proposed an expansion (!) to these powers – allowing CRA to...
https://www.taxandtradelaw.com/Tax-Trade-Blog/new-cra-powers-for-oral-interviews-of-taxpayer-employees.html -
Changes to ITC Information Requirements
Jun 10 2021 - In Budget 2021 the government of Canada proposed changes to the ITC Information Requirements which will generally make it easier for businesses to claim ITCs in two ways: increasing the dollar thresholds of the ITC Information Requirements; and e...
https://www.taxandtradelaw.com/Tax-Trade-Blog/changes-to-itc-information-requirements.html -
GST Changes Incoming for Short-Term Rental Accommodations!
Apr 08 2021 - Per our previous blog, the Government of Canada’s Fall Economic Update has announced new rules which will change the GST/HST registration and collection regime for short-term rental accommodation platforms (like AirBnb) and the underlying persons off...
https://www.taxandtradelaw.com/Tax-Trade-Blog/gst-changes-incoming-for-short-term-rental-accommodations.html -
GST Changes Incoming for Businesses using Fulfillment Centres!
Apr 08 2021 - Per our previous blog, the Government of Canada’s Fall Economic Update has announced new rules which will change the registration and collection regime for fulfillment warehouses (like Amazon) to ensure that vendors collect GST/HST on the final price...
https://www.taxandtradelaw.com/Tax-Trade-Blog/gst-changes-incoming-for-businesses-using-fulfillment-centres.html -
FCA: Credit Card/Payment Processing Services Are Exempt
Mar 03 2021 - We previously blogged about a Tax Court of Canada (TCC) case on the tax status of credit card/payment processing services provided by Visa. In that case, the TCC held that Visa’s services constituted the supply of “administrative services” and were t...
https://www.taxandtradelaw.com/Tax-Trade-Blog/fca-credit-card-payment-processing-services-are-exempt.html -
Shams in the Telecommunications Industry
Jan 27 2021 - The determination of whether a transaction is a ‘sham’ has been a longstanding issue in tax law, but one that has seemingly been the focus of a number of CRA projects across a number of different industries, including a current project in the interna...
https://www.taxandtradelaw.com/Tax-Trade-Blog/shams-in-the-telecommunications-industry.html -
GST Update: Major Changes Incoming for Non-Resident Businesses
Dec 02 2020 - On Monday, November 30, 2020, the Government of Canada delivered its Fall Economic Update, entitled Supporting Canadians and Fighting COVID-19. As reported in the National Post, the Update will be particularly noteworthy for online businesses selling...
https://www.taxandtradelaw.com/Tax-Trade-Blog/gst-update-major-changes-incoming-for-non-resident-businesses.html -
GST/HST Exempt Sales to First Nations Persons
Nov 23 2020 - When it comes to the payment on taxes for goods sold on-reserve, Canadian First Nations Persons enjoy a special tax status. Section 87 of the federal Indian Act provides that First Nations persons are not liable to taxation in respect of their ...
https://www.taxandtradelaw.com/Tax-Trade-Blog/gst-hst-exempt-sales-to-first-nations-persons.html -
TCC Found CanLII’s Supply of Virtual Library Taxable
Nov 20 2020 - When a supplier pays GSTH/HST on a property or service acquired for consumption, use or supply in the course of commercial activities, the supplier is entitled to claim an input tax credit (“ITC”) equal to the tax paid on expenses incurred: see...
https://www.taxandtradelaw.com/Tax-Trade-Blog/tcc-found-canlii-s-supply-of-virtual-library-taxable.html