Information About HKL Tax Law Blog
Recent Posts
Below is a preview of the five most recent posts from the blog HKL Tax Law Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Loss from Cryptocurrency Fraud Accepted as Non-Capital Loss
Photo by Rafael Minguet Delgado The taxpayer in Amicarelli v. The King was a full-time employee. In 2017, after hearing from people she knew that they had made hundreds of thousands of dollars from investing in bitcoins, she decided to make the jump and open an account with QuadrigaCX, a Canadian cr … Read more »
- Is There a Source of Income? Depends Who You Ask
When determining whether a loss is deductible, or conversely, whether income is taxable, there must first be a “source of income” or, in other words, a “business”. A business has traditionally been understood to mean anything that occupies the time, attention and labour of a person for the purpose o … Read more »
- Changes to the CRA Voluntary Disclosures Program Coming on October 1, 2025
The Canada Revenue Agency has updated its information circular dealing with the Voluntary Disclosures Program. Applications received on or after October 1, 2025 will be considered under the new guidelines. Read more »
- Une cession de créance ne constitue pas un paiement
Un contribuable était actionnaire de plusieurs sociétés. Il avait de plus créé une fiducie pour son bénéfice et celui de sa famille. Au fil des ans, une de ses sociétés lui a octroyé plusieurs prêts et avances. Lors d’une vérification par Revenu Québec, il est venu à l’attention du vérificateur que … Read more »
- Jumping on the Airbnb Bandwagon Comes with GST/HST
A corporation purchased a condo as an investment property. For the first 9 years, it rented the condo under long-term leases. However, for the last 14 months, it offered the condo through the Airbnb platform under short-term leases. The corporation was later assessed by the CRA for failing to collec … Read more »