Bitcoin and Income Tax: Canada

Bitcoin, the digital currency first launched in 2009, continues to make the news after its recent explosion in value. After starting last year at below $1,000, Bitcoin reached a value of almost $20,000 in December 2017, and was worth approximately $300 billion in real money. While prices have cooled in the weeks since Bitcoin hit its peak, certain experts predict that the cryptocurrency will continue to grow in popularity. Some have said that Bitcoin… Read More

FATCA- the capital building

Corporate Tax Planning

Landmark Tax Reform in the U.S: The Tax Cuts and Jobs Act

The Republican’s Tax Cuts and Jobs Act (TCJA) was enacted into law last week, with timing intended to comply with the President’s promise to have a tax bill signed before Christmas of this year. The TCJA is a $1.5 trillion overhaul that will introduce the first widespread changes to the U.S. tax code in more than 30 years. After first receiving Senate approval with a 51 to 48 vote, the TCJA was passed by… Read More


Corporate Tax Planning

Canadian Government Announces Revised Income Splitting Rules

Last week, Canada’s Department of Finance released revised draft legislation, accompanied by a guidance document, intended to simplify the income sprinkling proposals initially introduced in July 2017. Concurrently, the Canada Revenue Agency (CRA) provided its own guidance on how it plans to implement and enforce the newly revised rules. The new legislation will apply as of January 1, 2018. As we previously blogged about, the original proposals were met with opposition and… Read More

Postal Code Project

Personal Tax Planning

The Postal Code Project: Canada Revenue Agency Targets High Income Canadians

A few weeks ago we blogged about how the Canada Revenue Agency (CRA) is intending to use mobile payment companies, such as PayPal, to crack down on businesses that are not reporting all of their income. This week we explore a further initiative by the Agency to get tough on high-income Canadians who may be underreporting their worth. Recently, CBC News obtained the details of a plan launched last summer by the CRA… Read More

U.S Tax Code

Corporate Tax Planning

U.S Senate Passes Overhaul of U.S Tax Code

In a pre-dawn vote 51-49 vote that took place on December 2, the U.S. Senate approved a massive tax overhaul in what is the biggest change to American tax laws in more than 30 years. The new reforms bring the Trump administration closer to its election promises of decreasing corporate taxes and easing tax burdens on the wealthy. President Trump addressed reporters shortly after the Senate vote, praising the body for passing “tremendous tax… Read More