by Roberto Belingueres | Sep 25, 2021 | Articles & Publications, Taxes
Is cryptocurrency taxable in Canada? According to CRA, possessing or holding a cryptocurrency is not taxable. However, selling, making a gift, trading or exchanging a cryptocurrency, including disposing of one to get another, or converting cryptocurrency to a...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
Do You Have Unfiled Tax Returns For Years? As for the record, the CRA wants you to file and pay your taxes on time every year. When you cannot do so, you may put yourself at risk of high penalty amounts and collection tasks like bank levies or wage garnishments. We at...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
Old Age Security One-Time Payment Only. You will receive the one-time payment for older seniors if you were: born on or before June 30, 1947, and eligible for the Old Age Security pension in June 2021 If you have applied for the Old Age Security pension but have not...
by Roberto Belingueres | Aug 23, 2021 | Articles & Publications, Taxes
CRA Notice of Objection (NOO) Once you file your taxes, you receive a Notice of Assessment and later a Notice of Reassessment. You have two options: Pay the taxes owing File a CRA Notice of Objection (NOO). The CRA is not always right; when you disagree, you can...
by Roberto Belingueres | Jul 20, 2021 | Articles & Publications, Blog, Taxes
All You Need to Know About Trust Funds in Canada A trust is a vehicle for holding and passing on the family property. As such, it typically serves at least one of two purposes: It can reduce a family’s taxes by shifting income to members in lower tax brackets,...
by Roberto Belingueres | Jul 7, 2021 | Advisory, Articles & Publications, Taxes
People who are not Canadian Residents for Tax Purposes may be subject to a withholding tax when they sell Canadian property. All non-resident Canadian for tax purposes may be subject to this withholding tax if they sell real estate in Canada. This holds if they own...
