This blog is for general informational purposes only, may not be applicable to your circumstances and is not intended as tax advice.
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Divorce Settlement: Family Business
In a June 11, 2018 Court of Queen’s Bench for Saskatchewan case, at issue was whether a $500,000 settlement upon separation was taxable and whether the dispute over its tax status rendered the settlement void.…
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Holiday Closure Notice (and the Best of the Holiday Season to You!)
The team at PEL would like to wish you and your families a very Happy Holidays and all the best for 2019. Our office will be closing for the holidays at 5:00pm on Friday, December 21 and…
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Sales Tax Requirements for Doing Business in the State
A recent U.S. Supreme Court decision found that a business with no physical presence in a state may still be required to collect and remit state sales taxes. This ruling has prompted many states to begin making changes to their rules, and will…
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Contractor vs. Employee: Agreement on Contractor Status Is Not Enough
In a May 8, 2018 Tax Court of Canada case, the Court reviewed whether the taxpayer was earning insurable and pensionable amounts related to her work at a health care clinic for…
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Personal Use of Business Aircraft: How Big of a Taxable Benefit Is It?
A CRA communication dated March 7, 2018 provided updated commentary on taxable benefits arising from the personal use of a business aircraft. CRA categorized the types of flights into three groups, as…
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CRA Now Palling Around with PayPal
CRA has required PayPal to disclose sales and other transaction records for Business Account Holders from January 1, 2014 to November 10, 2017. It is expected CRA will review records for unreported…
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U.S. Citizens: Risks of Tax Non-Compliance
Commencing January 1, 2016, the U.S. State Department was able to deny or revoke passports to U.S. citizens having a “seriously delinquent tax debt” or no Social Security Number associated with their…
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CRA Mobile Phone Apps: Tools for Individuals and Businesses
CRA provides a number of mobile phone apps that taxpayers (individuals, corporations, etc.) can use to assist with their tax obligations. CRA BizApp – An app for small businesses owners to view…
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Digital Currency: Basics and Tax Implications
What is Digital Currency (DC)? DC is essentially electronic money. It’s not available as bills or coins. Cryptocurrency is a type of DC created using computer algorithms with the most popular being…
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Reasonable Automobile Allowances: GST/HST Claim
A travel allowance paid to an employee for the use of their personal vehicle for business purposes will be non-taxable if it is reasonable. Where such reasonable allowances are paid, an input…
