by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
When it comes to U.S. real estate properties, there are tax, financing and insurance issues that should be considered. Here is a brief list of some of the issues you should consider carefully before you purchase a condo or rental income property in the U.S.: Decide...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
In 2007, Canada Revenue Agency (CRA) issued a comprehensive Information Circular IC 07-1 to advise tax-payers of when and how they can ask for relief from the normal collection, re-filing or refund provisions of the Income Tax Act. Knowledge of these rules can be...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
We are pleased to offer a publication called Estate Planning, prepared by RBC Dominion Securities and my associate, Mr. Trevor C. Cooper. Under the table of contents on page 2, there is an excellent outline of the key areas of this publication including the...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
You might think the Canada Revenue Agency would keep silent about what triggers an audit, but the agency is actually quite candid about why it chooses certain tax returns. For example, the Canada Revenue Agency publishes newsletters, technical...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
General Overview Mr. Paul Dube has been named by order in counsel as the Taxpayers’ Ombudsman for a 3 year term. The Minister of National Revenue announced the appointment of Canada’s first Taxpayers’ Ombudsman on February 21, 2008. The position of the Taxpayers’...
by Joseph Truscott | Jan 6, 2020 | Taxation Articles by Joe Truscott
On April 30, 2010 Finance Minister Flaherty unveiled Draft Legislation and Explanatory Notes related to changes in the TFSA effective after October 16, 2009. Highlights of the changes are as follows: New Penalties for TFSA Abusers Although Tax-Free Savings...
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