Taxation Articles by Joe Truscott

The information contained in the following articles is provided for informational purposes only and is not intended to be either a complete description of any income tax issue or the opinion of the firm. Changes in tax laws or other factors could affect, on a prospective or retroactive basis, the information in any of these articles. You should consult Joseph A. Truscott, Chartered Accountant or your professional advisor to obtain additional details and determine whether the information in the article applies to your situation.

Voluntary Disclosures

The Voluntary Disclosures Program The “Canada Revenue Agency Guidelines for the cancellation and waiver of interest and penalties” outline that penalties and interest may be waived or cancelled in whole or in part in order to facilitate collection where: They result...

Taxpayers’ Ombudsman

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’...

Focus On Estate Planning

Introduction Estate planning involves much more than the preparation and periodic update of your will.  It is a multifaceted, lifelong event requiring reflection and expansion as you reach milestones in your life and your career. What is an Estate Plan? An estate...

Personal Will Checklist

Overview The following is a list of many of the questions and issues that should be addressed in the preparation of your personal Will. We have assisted clients for over 30 years in working with their situation in the proper preparation of their final Wills. Your...

Clearance Certificates

Introduction This article explains the need for a clearance certificate issued under the Income Tax Act. To request a clearance certificate, complete Form TX19, Asking for a Clearance Certificate . Also, provide the documents required for on Form TX19....

Retiring Allowance

Introduction Retiring allowances, which have nothing to do with retirement, but can assist individuals losing their jobs to shelter much of their severance payments. They can also play a powerful tax-planning role in business succession planning...

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