Tax

An image of a small business owner in Markham who is reviewing the CRA’s interpretation of Capital Dividends under General Anti-Avoidance Rule (GAAR) November 6, 2025

The CRA’s Interpretation of Capital Dividends Under General Anti-Avoidance Rule (GAAR)

The Canada Revenue Agency (CRA) offers several tax benefits to individuals, trusts, and corporations that file their returns and pay taxes.

Tax
An image of a small business owner in Markham that is looking at tax solutions for their Principal Residence October 16, 2025

Know How Principal Residence Exemption Can Bring Tax Savings on the Sale of a House

Buying a house is one of the biggest purchases an average household makes in their lifetime and selling it is equally big. You don’t want…

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An image of a father and son who just spoke with their tax advisor at KSSP Partners LLP in Markham about his OAS and how it will impact his estate plan. September 4, 2025

How Much Taxable Income You Can Earn Before OAS Clawback

Retirement is a big life decision that has mental, emotional, financial, and tax implications. Everyone, from low to high-income earners, goes through it. The Canada…

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An image of a Markham real estate agent shaking hands with a client after helping them close a transaction. March 20, 2025

What Non-Residents Canadians Should Know Before Selling Their Canadian Real Estate

Real estate transactions are complex, and if a non-resident is selling the property, there are additional administrative steps. If you are a non-resident of Canada…

Tax
An image of a small business owner meeting with their team in a small boardroom in Markham Ontario February 20, 2025

Several Reasons CRA Could Deny Small Business Expense Deductions

Owning a business brings with it a variety of business expense deductions that are crucial to earn revenue. The end objective of incurring these expenses…

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An image of a business owner in Markham, reviewing his small business deductions January 23, 2025

Two Reasons CRA Could Deny Small Business Deduction 

The Canada Revenue Agency (CRA) offers Small Business Deduction (SBD) to Canadian Controlled Private Corporation (CCPC) on the first $500,000 in…

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An image of a commercial real estate broker showing a client a new office investment December 12, 2024

Uncertainty Remains Around New Capital Gains Rules

The year 2024 is a transitional year as several tax rule changes occurred. One of the rule changes is the increase in the capital gains…

Tax
An image of a Markham accountant examining some documents for a CRA Audit November 21, 2024

How to Reduce the Probability of CRA Audit

No business owner would ever want to face the Canadian Revenue Agency (CRA) audit, as it is time-consuming and stressful for…

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An image of a bunch of Canadian 100$ bills November 7, 2024

Understanding Tax Implication of Windfall Gains

What would you do if you learned that you own a large sum of money? This money was unexpected, like a lottery win or a…

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An image of new store fronts in a small town in Ontario September 19, 2024

Understanding Fair Market Value (FMV) and Its Impact On Your Tax Bill

Most businesses begin in the garage of the owner’s home. It is common for business owners to use their vehicle, their computer, and their place…

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