Information About Thorsteinssons’ Tax Blog
Recent Posts
Below is a preview of the five most recent posts from the blog Thorsteinssons’ Tax Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- COVID-19 Tax Update: CRA announces simplified home office deduction
Further to statements in the Fall Economic Statement, the Canada Revenue Agency has announced an administrative policy relating to the ability of employees to deduct home office expenses for the 2020 taxation year. The policy is temporary and made in order to accommodate employees who were required … Read more »
- The Launch of the BC Land Owner Transparency Registry
We last wrote about the Land Owner Transparency Act (“LOTA”) on May 23, 2019. On November 30, 2020, the BC Ministry of Finance announced that the LOTA registry has now launched. In the announcement, the Ministry was unambiguous in stating that the purpose of the registry is “to crack down on tax fra … Read more »
- Tax Highlights from the 2020 Fall Economic Statement – What Tax Practitioners and Businesspeople Need to Know
On November 30, 2020, the federal government presented its Fall Economic Statement (“FES”). The FES contains numerous noteworthy tax measures, including both pandemic-related financial support as well as longer-term tax changes. The following summarizes the notable income tax measures announced in t … Read more »
- COVID-19 Tax Update: A Detailed Review of the New Canada Emergency Rent Subsidy (CERS) and Lockdown Support Programs
Note: To enhance readability, readers may access a PDF COPY OF THIS BLOG POST HERE. I. Overview On November 19, 2020, Parliament enacted the Canada Emergency Rent Subsidy (“CERS”). Ostensibly designed to replace the underutilized Canada Emergency Commercial Rent Assistance (“CECRA”), the CE … Read more »
- The intersection between tax and money laundering: Guidance for tax advisors
A recent American Bar Association Practice Point article posed the question: may tax evasion be charged as a money laundering offence? In Canada, the answer is unequivocally, yes – the acts that result in a charge of tax evasion might also result in a charge of money laundering. Because the Criminal … Read more »