pro-taxes

Tax Court to MNR and CRA: Settlement Agreement Means It’s Settled

Learn about the decision in the Sifto Canada Corp. case, its background, what issues were disputed, and how the Tax Court of Canada concluded that the CRA and MNR are legally bound by lawfully executed settlement offers made under the Mutual Agreement Procedure and the Voluntary Disclosure Program.

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pro-taxes

Claim Newfoundland and Labrador Nonrefundable Tax Credits for Infirm Dependants Age 18 or Older

Learn how accountants can help their clients who live in Newfoundland and Labrador and have infirm dependants over 18 years of age by filing for a nonrefundable credit at tax time. Review how to determine who qualifies for the credit and how to claim it on your clients' provincial tax returns.

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pro-taxes

Federal Court of Appeal: Out of Time Means Out of Luck for Taxpayer

Learn about the decision handed down by the National Court of Appeals in the ConocoPhillips case, what is meant by the term objections regime, and how each side pleaded its case, as well as the impact this ruling has on accountants and their clients who want to file Notices of Objections.

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pro-accounting

What Is Lapping Fraud?

Learn about lapping fraud, an accounting term for a form of accounts receivable theft committed by a bookkeeper or someone acting in that capacity, as well as how lapping schemes usually work, and how you can advise your clients on controls to prevent lapping from occurring in their businesses.

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pro-taxes

When Students May Deduct Moving Expenses for Higher Education

Learn about the moving expense tax credit. Full-time students attending a secondary or higher level education institution may qualify for this credit. Understand the type of expenses that students may claim, their eligibility requirements, and the type of income from which this credit may be deducted.

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pro-accounting

Home Office Deductions for Self-Employed Physicians

Learn how accountants can help their clients who are self-employed physicians with offices in their homes save money at tax time by claiming home office deductions on their professional income tax return. Discover what types of expenses qualify as legitimate office-related expenses in the opinion of the CRA.

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pro-accounting

Obtaining the Newfoundland and Labrador Income Supplement and Seniors’ Benefit

Learn how to explain the Newfoundland and Labrador Income Supplement for low-income individuals, couples, seniors, and people who are disabled, and the Seniors Benefit that's available to seniors over the age of 65 and live in either Newfoundland or Labrador on the last day of the tax year.

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pro-taxes

How to Pay Taxes Owed to the CRA

Discover how the Canada Revenue Agency makes it easier to pay federal income taxes by offering a number of traditional and newer ways to make tax payments, whether you're paying as a self-employed accountant or on behalf of a client, and learn more about the "My Payments" tool available on the CRA website.

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