Tax Avoidance vs. Tax Evasion: What’s the Difference?
Understanding the difference between tax avoidance and tax evasion is crucial to staying compliant with CRA regulations. Learn how to navigate tax planning safely and when to seek legal guidance to protect your finances. Read more to stay on the right side of the law!
Facing Tax Evasion Charges? Why You Need a Tax Lawyer
Accused of tax evasion? A tax lawyer could investigate the claims, negotiate with the CRA, and provide legal defense. Don’t face the Tax Court of Canada alone. Learn how expert legal support can make all the difference.
7 Steps to Address Unfiled Canadian Tax Returns
Struggling with unfiled tax returns? This step-by-step guide walks you through gathering documents, assessing your situation, and exploring options like the CRA’s Voluntary Disclosures Program. Learn how tax lawyerx could support you with past returns, negotiations with the CRA, and tips for a better control of your tax situation.
Unfiled Tax Returns: How a Tax Lawyer Can Help You Comply
Unfiled tax returns can lead to penalties, CRA assessments, and even legal trouble—but you don’t have to face it alone. Learn how a tax lawyer can help you file overdue returns, challenge unfair assessments, and navigate CRA disputes with confidence.
Shareholder Benefits from Subsection 15(1) of the Income Tax Act (Canada)
Are You Receiving Taxable Shareholder Benefits Without Realizing It?
Subsection 15(1) of the Income Tax Act prevents shareholders from extracting corporate assets tax-free. Understanding how this rule applies can help you avoid unexpected tax liabilities. Learn how to protect yourself from costly reassessments and ensure compliance with CRA regulations.
What is a Subsection 160(1) Assessment Under the Income Tax Act (Canada)?
If you’re transferring property to a family member or related party, be cautious—Subsection 160(1) of the Income Tax Act (Canada) can hold the recipient responsible for your unpaid tax debts. Learn how this provision works, the conditions for its application, and how to avoid unexpected liabilities.
What Is The Normal Reassessment Period?
Wondering how long the CRA can reassess your tax return? The normal reassessment period typically lasts 3 years for individuals and Canadian-controlled private corporations, and 4 years for other types of corporations and GST/HST returns. Learn what you can do if you’re facing a reassessment outside the normal period and how to protect yourself from unwanted surprises.
Net Worth Audits: What You Need to Know
Concerned about a Net Worth Audit from the CRA? These audits are used when the CRA suspects a mismatch between your reported income and lifestyle. Discover how the CRA conducts these audits, how they calculate net worth, and what happens if they find discrepancies.
What Is A Gross Negligence Penalty?
A Gross Negligence Penalty can significantly impact your tax situation. Whether it’s underreporting income, inflating deductions, or failing to report offshore assets, these penalties can be severe—up to 50% of the understated tax or overstated credits. Learn how this penalty works, how it’s calculated, and what defenses may be available if you’re facing one.