Newsletter – June 2021

by | Jun 22, 2021 | Newsletters

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Articles & Publications

Is Cryptocurrency Taxable in Canada?

by | Sep 25, 2021

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...

Have Unfiled Tax Returns For Years?

by | Aug 23, 2021

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...

Old Age Security One-Time Payment Only

by | Aug 23, 2021

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...

CRA Notice of Objection

by | Aug 23, 2021

​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...

All You Need to Know About Trust Funds in Canada

by | Jul 20, 2021

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, and it...