Category: Blog

Tax implications of Intercorporate loans

In cases where a taxpayer owns multiple incorporated businesses. Its fairly common for there to be intercompany loans between those related corporations. The general guiding principle is that; should these loans be deemed not bona fide and/or not at arm’s lengths, they will be included into income of the taxpayer receiving the benefit (loan). Bona […]

Change in use rules for property owners

Real estate, including rental and leasing are the top contributors to Canadian GDP ;adding about 14% to total GDP. By derivation this means there is relatively higher transaction activity in the real estate market, some of this activity includes change in use (e.g. personal property to income producing property) for which change in use rules […]