According to the Income Tax Act, you need to keep business tax records for a minimum of six years from the end of the taxation year to which the records and books relate. If You Want to Correctly Keep Business Tax Records in Canada, You Should Have All: Sales Invoices Contracts and Guarantees Loan agreements […]
Empty Homes Tax: Audits and Appeals
Empty Homes Tax – Audits and Appeals If you are a City of Vancouver residential property owner, you may be subject to an audit of your 2017 Property Status Declaration. The City of Vancouver may also have recently denied your request for an exemption to the Empty Homes Tax (EHT). This post outlines how to […]
Valuations for Income Tax Purposes: What Does the CRA Think?
Tax planning and corporate restructuring have become an integral part of the services provided by professional advisers to their clients. A key component of any plan is establishing the fair market value (FMV) as the valuation represents the first step towards assessing the tax consequences of any transaction. This post looks at valuations for income […]
