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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  • Get Your Year End Tax Planning Tips & Remuneration Planning Tips Here!

    The 4th Quarter 2017 PEL Tax Break is now available for download here. We have also uploaded some Year End Tax Planning Tips for individuals and Remuneration Planning Tips for owners of…

    December 11, 2017

  • Did you know…? Some tidbits about the relationship between CRA and the IRS

    CRA can assist the IRS in collecting a debt. In one case, CRA assisted in collecting a six-figure U.S. tax penalty for unfiled disclosures from a U.S. citizen resident in Canada. In…

    December 4, 2017

  • Changes to Settlement Date for Investments

    Effective September 5, 2017 the settlement date for the purchase or sale of investments such as stocks, and bonds, will now be two business days after the trade date instead of three.…

    November 27, 2017

  • Government Change of Heart

    On September 25, 2017 we blogged about a change in CRA policy about employee discounts on merchandise (https://pelcpa.ca/employee-discounts-on-merchandise-change-in-cra-policy/). The government has since backtracked on this position.

    November 20, 2017

  • Medical Expense Claims for Reproductive Technologies Extended

    Did you know that medical expense claims for reproductive technologies have been extended to include situations where the patient does not have a medical condition preventing conception? Claims will be allowed for…

    November 6, 2017

  • Charity Filing and Compliance Obligations: The CRA Has Checklists to Help

    The CRA Charity Directorate provides a number of fairly comprehensive and easy to read checklists relating to various responsibilities associated with operating a registered charity. These can be particularly helpful as a…

    October 30, 2017

  • Operating a Business in the U.S.: The IRS is Targeting Smaller Foreign Entities

    The IRS has recently noted that they are rolling out campaigns to focus on entities below the “big fish” that have historically been targeted. Such campaigns include: Related party transaction campaign –…

    October 23, 2017

  • Support of Refugees: Tax and Filing Requirements

    Two Technical Interpretations (May 26 and March 3, 2017) considered whether support provided to a refugee would be required to be reported on a Form T5007, Statement of Benefits. Essentially, the CRA…

    October 16, 2017

  • Tax Tip: tuition tax credit extended

    The tuition tax credit has been extended to include courses at a post-secondary educational institution that are not at a post-secondary school level. This may include, for example, courses on basic literacy…

    October 2, 2017