Has your Canadian business expanded into the U.S.? Do you have dealings with U.S. customers? If so, have you considered the U.S. tax implications? It’s important that you do. Canadians — both individuals and corporations — can end up with a U.S. tax liability if they carry on a trade or business in the U.S. Even if there is no U.S. tax liability associated with carrying on a trade or business,there may be U.S. filing requirements, which may attract significant penalties if not met on a timely basis.
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Strategies for buying or selling a business in 2021
BDO & Gowling assemble a panel of Tax, M&A and Legal experts to bring you insights on buying and selling a business.
Automated solution for the work from home tax deduction
Many Canadians worked from home last year, potentially making them eligible to claim the work from home tax deduction for 2020. Employers will need to provide a completed and signed Form T2200S...
Tackle your 2020 tax slips to avoid penalties
February is a great month to start getting organized in advance of the April 30 deadline for filing personal income tax returns with the Canada Revenue Agency (CRA).
Key changes coming in 2021 to Form T1134
The Canada Revenue Agency (CRA) has various tools available to collect information on Canadian resident taxpayers’ interests in offshore investments.
Changes that may affect your 2020 personal income taxes
We have compiled a summary of the most significant federal tax changes that may affect your 2020 personal income tax return.
1:38Tax Considerations in Buying or Selling a Business #WeWroteTheBookOnThat | BDO Canada
BDO Partner Adam Thompson and David Elrick co-authored and addresses this in Chapter 16, ‘Tax Considerations in Buying or Selling a Business’ of the Canadian Tax Foundation’s publication: Taxation of
Claiming a home office expense deduction for 2020
The Canada Revenue Agency (CRA) provided details of a new additional method that eligible employees could use to claim work from home tax deductions for 2020.
New Book On Taxation Of Private Corporations
We're writing the go-to resource on taxation of private corporations. Find out more here.
Canada Emergency Wage Subsidy Details for the Program Now available to March 13, 2021
The Canada Emergency Wage Subsidy (CEWS) program was introduced in March 2020 for an initial period of twelve weeks. Introduced in March 2020, this high-profile program was first updated in July with
1:47Distributions to Family Members #WeWroteTheBookOnThat | BDO Canada
BDO Partner Sheana Espiritu co-authored and addresses this in Chapter 8, ‘Distributions to Family Members’ of the Canadian Tax Foundation’s publication: Taxation of Private Corporations and their Shar
New trust reporting requirements are coming
The main advantage of a trust is that it allows you to separate the control and management of assets in the trust from its ownership.
2:42Writing the book on taxation of private corporations #WeWroteTheBookOnThat | BDO Canada
We’re getting ready for the launch of the new edition of The Taxation of Private Corporations and Their Shareholders, co-written by BDO and published by the Canadian Tax Foundation. Watch to learn mor
Top 5 year-end tax planning strategies for your business: 2020 edition
Amid the current COVID-19 pandemic, tax planning may not be top of mind for many business owners, but it is more important than ever to plan ahead for income taxes to avoid any unpleasant...
1:53Tax planning for professional corporations #WeWroteTheBookOnThat | BDO Canada
Professional corporations provide tax advantages for regulated professionals in Canada. Hear from BDO Partner Nick Kietaibl who co-authored Chapter 5, ‘The use of a professional and personal servi
Checklist 2020: Save on your personal taxes
As we approach the end of a very challenging year, it’s a good idea to think about personal income tax planning now so that you can maximize tax savings in 2020 and be prepared when final tax...
Government Increases loans available under the Canada Emergency Business Account (CEBA)
The government has recently increased the amount of loans available under the Canada Emergency Business Account (CEBA).
1:49Tax considerations when deciding to use a holding corporation #WeWroteTheBookOnThat | BDO Canada
Many advantages and tax considerations should be assessed when considering the use of a holding company when incorporating a business. Hear from BDO Partner Danvir Roopra who co-authored Chapter 4,
Tax Alert - Canada fiscal update as of November 30, 2020
Deputy Prime Minister and Minister of Finance Chrystia Freeland provided a fiscal update to Parliament on November 30, 2020.
Government introduces the new Canada emergency rent subsidy program
On October 9, 2020, Deputy Prime Minister and Finance Minister Chrystia Freeland announced the creation of the new Canada Emergency Rent Subsidy (CERS) program to replace the Canada Emergency...