Kelowna Accountant Kelowna Accountant Kerr & Co (6)

CPP DISABILITY BENEFIT: Following the Doctor's Advice

In a June 6, 2022, Federal Court of Appeal case, the Court addressed an application for judicial review of the Social Security Tribunal’s decision to deny the taxpayer’s CPP disability benefits claim because he did not have a severe and…
Kelowna Accountant Kelowna Accountant Kerr & Co (4)

PERSONAL SERVICES BUSINESS (PSB): CRA Education Initiatives

In some industries, it is common for employers to require their workers to provide services through their own corporation rather than directly as employees.  In general, a PSB exists where an individual would be considered the employee of the…

SHARED CUSTODY ARRANGEMENTS: Impact of School Closures

In an April 21, 2022 Tax Court of Canada case, the Court reviewed whether the taxpayer and her former spouse were shared-custody parents of their three children for the period from January 2019 to June 2021 for the purpose of the Canada child…
Help from Kelowna Accountants for Travel Expenses

REQUIRED TRAVEL: Between Home and Work

A June 21, 2022 Tax Court of Canada case considered whether motor vehicle costs of $1,642 associated with a construction foreman’s travel between home and various job sites were deductible against employment income. The taxpayer worked on…
kelowna accounting firm Vernon accounting firm

POKER PLAYING: Hobby or Business?

In a June 21, 2022 French Tax Court of Canada case, CRA assessed the taxpayer’s poker winnings from 2010 to 2012 as business income. In 2010, the taxpayer won almost $9 million in the No Limit Hold'em Championship (The Main Event) at the World…
Kelowna Accounting

MONEY RECEIVED FROM ABROAD: CRA Reviews 

As of 2015, financial institutions must report electronic fund transfers (EFT) into Canada of $10,000 or more not only to FINTRAC but also to CRA. Where two or more EFTs of less than $10,000 each are made within 24 consecutive hours by or on…
Vernon Accountant Kelowna Accountant Kerr & Co (4)
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AUDITING OLD TAX RETURNS: CRA Abilities and Limitations 

CRA may reassess the tax returns for CCPCs and individuals within three years from the sending of the notice of assessment. Returns for which this three-year period has expired are commonly referred to as being “statute-barred.” However,…