Us versus fraud: we need to fight corporate financial crime together
Source: CPA Canada – Diligence, healthy skepticism and a sense of responsibility are tools we can all use to help stop financial misdeeds.
The tax consequences of leaving Canada permanently
Source: CPA Canada – From assets and property to personal ties, several factors will affect your taxation so detailed planning needs to be done in…
DFK Tax Digest 2023 Issue Two
DFK Tax Digest – 2023 Issue Two The New Underused Housing Tax – You Are a Canadian Citizen So How Does It Affect You? – Hopefully,…
Knowing when you need a mental health check
Source: CPA Canada – Rather than taking a ‘grin and bear it’ approach, you first have to admit that it’s okay to not be okay.
How to calm the stress of tax time when you are a freelance couple
Source: CPA Canada – Struggling with reams of receipts and looming tax deadlines? These expert tips from CPAs should make the filing process much easier.
Business succession — New tax rules to consider for family business transfers
Source: CPA Canada – Budget 2023 announced two sets of tax rules to consider where owners transfer their businesses to family members and employees. Find…
How to Sell Your Business
In the coming decade, over $2 Trillion in small business assets in Canada are expected to change hands as 76% of owners look to bow…
Expert advice on how to build a stronger credit score
Source: CPA Canada – Want to improve your credit score? Experts explain what you need to know—and do.
You’ve filed your tax return, but you forgot something. Now what?
Source: CPA Canada – Forgot to claim a deduction/credit or report income? No need to worry. Here’s what to do.
Is the Canadian banking system as solid as it is said to be?
Source: CPA Canada – It’s unlikely that we’ll see the same kinds of bank crises in this country as we’ve seen with several financial institutions…
2023 Federal Budget
2023 Federal Budget Commentary A. Personal Measures B. Business Measures C. International Measures D. Sales and Excise Tax E. Other Measures F. Previously Announced Measures…
Tax issues in cryptocurrency: an expert’s view
Source: CPA Canada – Baker Tilly Canada’s John Oakey, CPA, offers an overview of what we know—and don’t know—about the tax implications around crypto in…
Underused Housing Tax Penalties and Interest Waived
Source: Government of Canada – To provide more time for affected owners to take necessary actions to comply, the Minister of National Revenue is providing…
Three common business scams—and how you can avoid them
Source: CPA Canada – Scammers are always coming up with new ways to target businesses, so it’s important for all employees to be vigilant.
2023 Ontario Budget
Source: Government of Ontario Highlights of the 2023 Budget: Building A Strong Ontario 2023 Ontario Budget: Building a Strong Ontario
Phishing Attack Hackers Have a New Trick
Source: CPATrendlines – Cybercriminals are experimenting with a new method of delivering dangerous payloads and employing targeted phishing emails to infect users with malware.
4 top scams currently making the rounds—and how to avoid them
Source: CPA Canada – From peddling shady investment schemes to posing as grandchildren in distress, fraudsters are always finding new ways to trick their victims.
Observe best practices when dealing electronically with the CRA
Source: CPA Canada – As CPA Canada VP of taxation Bruce Ball explains, practitioners need to ensure their documentation is organized and their information is…
DFK Tax Digest 2023 Issue One
DFK Tax Digest – 2023 Issue One Claiming Working from Home Expenses – For your 2022 personal tax filing, the Canada Revenue Agency has two…
Basic facts you need to know about the Underused Housing Tax
Source: CPA Canada – Canadian citizens and residents who own residential properties should familiarize themselves with the UHT’s various provisions to understand how they may…
2022 US Personal Tax Update
Below is a summary of some of the US personal tax changes for the 2022 filing year that may affect you
2023 personal tax season: Key changes to consider
Source: CPA Canada – As T1 season approaches, find out about some important new tax measures and changes to Canada Revenue Agency (CRA) services that…
US Estate Tax for the Canadian Resident
Who is subject to US Estate Tax? US Citizens and US residents on their worldwide estate. Non-Resident Aliens (individuals who are not US citizens or…
How and when to use the CRA’s Voluntary Disclosures Program
Source: CPA Canada – When a taxpayer has made a mistake or omission on a previous return, it can make sense in many cases to…
Voluntary Disclosures Program: Comparing the general and limited programs
Source: CPA Canada – A number of factors need to be considered before filing a voluntary disclosures program application, including the size of the sum…
Are you up to speed on the latest personal income tax changes?
Source: CPA Canada – While there are fewer new measures than in previous years, those that have been introduced are significant.
Expert advice to help you get ahead of filing for bankruptcy
Source: CPA Canada – CPAs share advice on what to do when you think you are heading for trouble—from recognizing the warning signs to maximizing…
Tax Identifier Number for the Underused Housing Tax
Source: CPA Canada The new Underused Housing Tax (UHT) is aimed primarily at non-residents of Canada, but others may also be caught. It’s important to…
Want to get on the right side of debt? These pro tips can help
Source: CPA Canada – The current financial climate can make it difficult to stay ahead of your bills. But by following a few simple rules,…
Underused housing tax – requirements and exemptions
Source: CPA Canada – The federal government’s new underused housing tax (UHT) may be aimed primarily at non-residents of Canada, but others may also be…
By the decade: Financial resolutions to start thinking about
Source: CPA Canada – Whatever your age or circumstance, laying the foundation for financial goals early and regularly re-evaluating them is key to ensuring a…
How CPAs can help small businesses prepare for a recession
Source: CPA Canada – Accountants are well equipped to provide advice and assistance on everything from cash flow analysis to renegotiating with suppliers.
Vacant Home Tax
The Vacant Home Tax (VHT) was enacted in Toronto and Ottawa for the 2022 calendar year. The City of Hamilton approved the implementation of the…
No one expected this inflationary climate to last so long
Source: CPA Canada – David-Alexandre Brassard, CPA Canada’s chief economist, looks back on some of the major developments of 2022—and how they affected the economy.
Start prepping for these tax items before the year ends
Source: CPA Canada – With December 31 almost around the corner, practitioners recommend putting these often-forgotten deductions and credits on your end-of-year tax checklist.
DFK Tax Digest 2022 Issue Four
DFK Tax Digest – 2022 Issue Four Summary of Designated Immediate Expensing Property (“DIEP”) Rules – On April 19, 2021, the government announced new rules…
Tax-Free First Home Savings Account – your questions answered
Source: CPA Canada – The federal government has released new details about a new type of registered savings plan aimed at helping Canadians save for…
Why small businesses need more digital payment systems
Source: CPA Canada – Payment innovation is one way that small businesses can stay competitive and grow their customer base, experts say.
Here are the essential things you need to know before retiring
Source: CPA Canada – We’ve collected our best stories and resources to help you set up a retirement plan, guide you on RRSP contributions and…
Canada’s New Luxury Tax Comes into Effect September 1, 2022
The Luxury Tax (“LT”) is a new tax on the sale of road vehicles and aircraft where the consideration payable is greater than $100,000 (and…
New rules for trust reporting are coming for 2023 returns
Source: CPA Canada – Tax rules announced in Budget 2018 will require more trusts to file returns and all trusts to report more information. Find…
October 2022 - Business Matters
Articles in this issue: An economist explains: What to know about a recession Struggling to save? These pro tips can set you on the right…
How to ensure compliance with personal services business rules
Source: CPA Canada – As the CRA continues to contact taxpayers about personal services businesses, it’s important to understand the rules.
DFK Tax Digest 2022 Issue Three
DFK Tax Digest – 2022 Issue Three Changes to the Trust Reporting Rules – Old News is Still not Good News – If you are…
New CRA campaign focuses on personal services businesses: Are you ready?
Source: CPA Canada – The Canada Revenue Agency is escalating their scrutiny of personal services businesses, and the consequences for breaching these tax rules can…
Teaching money management to kids in a cashless society
Source: CPA Canada – When and how to introduce debit and credit cards, as well as the importance of creating a good credit score.
August 2022 - Business Matters
Articles in this issue: An economist explains: What is inflation? Home ownership feels out of reach for many The online grocery shopping trend is here…
What to know about the proposed First Home Savings Account
Source: CPA Canada – The federal government’s new tax-free plan aims to help more Canadians enter the housing market.
CRA digital services: new self-service options
Source: CPA Canada – As the Canada Revenue Agency (CRA) continues to digitalize its services, practitioners can serve their clients better through new digital service…
DFK Tax Digest 2022 Issue Two
DFK Tax Digest – 2022 Issue Two Electric Vehicle Rebates for Consumers & Businesses – With the high price of gasoline, the COP26 UN Climate…
The lowdown on the thriving green bond
Source: CPA Canada – The recent introduction of Canada’s first Green Bond Program is helping to lead the way for sustainable investment options. Here’s what…
June 2022 - Business Matters
Articles in this issue: Government programs to support first-time home buyers Income tax measures in the 2022 Federal Budget Death and taxes: what to know…
New mandatory tax reporting: problems and solutions
Source: CPA Canada – The federal government has been consulting Canadians on expanded tax reporting requirements aimed at detecting and preventing inappropriate tax plans. Find…
Retirement savings strategies for the CPA business owner
Source: CPA Canada – Avoid making the business your main savings vehicle and tap into other plans and tactics to help bolster long-term savings.
Are you aware of these 5 common debt myths?
Source: CPA Canada – CPAs shed light on some misconceptions to avoid, plus offer clarity for the future to help avoid—or break—a cycle of arrears.
How CPAs can help to advise SMEs on compensation plans
Source: CPA Canada – A CPA perspective can add value for clients trying to meet evolving employee expectations and stay competitive.
2022 - Federal Budget
2022 Federal Budget Commentary A. Personal Measures B. Business Measures C. International Measures D. Sales and Excise Tax E. Retirement Plans F. Charities Measures G.…
April 2022 - Business Matters
Articles in this issue: Personal Finance – First-time car buyer? Here’s what you should be budgeting for Personal Finance – Turn those tough financial talks…
What to know when your staff works in another jurisdiction
Source: CPA Canada – Here’s what employers need to consider when managing employees in other provinces—or countries.
The Underused Housing Tax
The Underused House Tax (UHT) Act received Royal Assent in June of 2022, and is retroactive to January 1, 2022. The UHT assesses a 1%…
Guidance to help you stay ahead this tax season
Source: CPA Canada – Getting ready to file your personal taxes? These updates and resources will help put you on track to meet the deadline.
DFK Tax Digest 2022 Issue One
DFK Tax Digest – 2022 Issue One Luxury Tax Update – The 2021 Federal Budget introduced a new “Luxury Tax” on select luxury goods. The…
Buying a home with a good friend? Read this first
Source: CPA Canada – When purchasing a property with someone other than your partner or spouse, don’t forget to consider all the angles.
February 2022 – Business Matters
February 1, 2022 By Taylor Leibow Articles in this issue: Tax – Changes to federal COVID-19 support for individuals and businesses Tax – Why a…
Are you up to date on the latest tax changes?
Source: CPA Canada – With tax season upon us, it’s a good time to review some of the main tax updates that have been made…
Give your personal finances a reset with these simple tips
Source: CPA Canada – Addressing holiday overspending, rising prices due to inflation and the approaching tax season should be top priority, advise CPAs.
December 2021 - Business Matters
Articles in this issue: Tax – The tax implications of employees working remotely abroad Tax – 3 Types of real-estate fraud to look out for…
DFK Tax Digest - Fall 2021
DFK Tax Digest – Fall 2021 Hybrid Transactions – Hybrid transactions were born out of an apparent need for compromise where a purchaser prefers to…
October 2021 – Business Matters
October 1, 2021 By Taylor Leibow Articles in this issue: Management – Return to work raises crucial legal questions for organizations Tax – How to…
Limitations on Lifetime Capital Gains Exemptions
July 18, 2017 Department of Finance Draft Legislation Written By: Mecheliena Wilson CPA, CA, TEP Partner, Tax Services, Davis Martindale LLP (an Independent Member of…
Due Dates for Medical Professional Corporations
December 9, 2016 By Darren Salmond Now that your medicine professional corporation is operating you must understand when certain tax filings are due. If you…
Incorporation Process
January 22, 2016 By Darren Salmond In order to incorporate your medical practice it is always advisable to obtain advice from a public accountant and…
What is a Corporation?
October 30, 2015 By Darren Salmond As a self-employed individual any income you earn during the year will be included on your personal tax return.…
Is Incorporation Right for You?
September 3, 2015 By Darren Salmond If you are thinking of incorporating your unincorporated practice there are certain questions you should be asking yourself. Do…
