Article Published on: October 1, 2022 Individuals may be asked to take on various roles in respect of loved ones, friends, clients or others. One role that is particularly riddled with challenges is that of an estate executor. While an individ ...
Director Liability: Is Asking About Source Deductions Enough?
Article Published on: October 1, 2022 Directors can be personally liable for payroll source deductions (CPP, EI and income tax withholdings) and GST/HST unless they exercise due diligence to prevent the corporation from failing to remit these ...
Crowdfunding: Taxable or Not?
Article Published on: October 1, 2022 Crowdfunding: Taxable or Not? A June 2, 2022 Technical Interpretation discussed the taxability of funds received through crowdfunding campaigns. CRA first noted that amounts received through a crowdfund ...
Trusts: New and Expanded Disclosure Requirements
Article Published on: October 1, 2022 Trusts: New and Expanded Disclosure Requirements Legislation has been proposed for trusts (including estates) with years ending on December 31, 2022 and onwards that would significantly expand the reporting ...
About Tax Tidbits
Article Published on: October 1, 2022 Tax Tidbits Some quick points to consider… The interest rate on overdue taxes for the fourth quarter of 2022 (October 1 – December 31, 2022) has increased by 1% to 7%. Make sure to get those payment ...