Tax Alerts

Tax updates in Canada in response to COVID-19

Our tax alert summarizes the latest tax measures by federal and certain provincial government authorities amid the coronavirus pandemic.

Ways to optimize estate planning in the wake of COVID-19

A Capital Dividend Account allows a shareholder to access corporate surplus tax-free, but timing is critical.

GST/HST and QST filing obligations for financial institutions

FIs who fail to file returns on time could face significant financial penalties, making it imperative to determine their filing obligations.

GST/HST under Canada Emergency Commercial Rent Assistance Program

Our authors summarize the GST/HST implications of forgivable loan payments and rent reduction offered by commercial landlords under CECRA.

Should you resort to mutual agreement procedure?

Canada implemented the mutual agreement procedure as an effective tool for resolving economic double taxation issues.

Restrictions on discretionary trust's dividend allocation powers

If the word ‘discretionary’ means ‘unrestricted’ or ‘unregulated’, does that mean discretionary trusts have unfettered decision-making?

Federal government postpones deadlines for duties and taxes on imports

This change is on top of the announcement from the CBSA on March 19, 2020 which gave importers relief from late accounting penalties.

Tax opportunities in a low-interest rate environment

Lower interest rates may entice taxpayers to borrow to bridge the cash crunch, but is additional debt a good idea in these uncertain times?