Author / Pagnanini Edwards Lam

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  • Government Change of Heart

    On September 25, 2017 we blogged about a change in CRA policy about employee discounts on merchandise (http://www.accountantsplus.ca/employee-discounts-on-merchandise-change-in-cra-policy/). The government has since backtracked on this position.

  • Medical Expense Claims for Reproductive Technologies Extended

    Did you know that medical expense claims for reproductive technologies have been extended to include situations where the patient does not have a medical condition preventing conception? Claims will be allowed for…

  • Charity Filing and Compliance Obligations: The CRA Has Checklists to Help

    The CRA Charity Directorate provides a number of fairly comprehensive and easy to read checklists relating to various responsibilities associated with operating a registered charity. These can be particularly helpful as a…

  • Operating a Business in the U.S.: The IRS is Targeting Smaller Foreign Entities

    The IRS has recently noted that they are rolling out campaigns to focus on entities below the “big fish” that have historically been targeted. Such campaigns include: Related party transaction campaign –…

  • Support of Refugees: Tax and Filing Requirements

    Two Technical Interpretations (May 26 and March 3, 2017) considered whether support provided to a refugee would be required to be reported on a Form T5007, Statement of Benefits. Essentially, the CRA…

  • Tax Tip: tuition tax credit extended

    The tuition tax credit has been extended to include courses at a post-secondary educational institution that are not at a post-secondary school level. This may include, for example, courses on basic literacy…

  • Employee Discounts on Merchandise – Change In CRA Policy

      Historically, CRA has stated that an employee enjoying a discount on the purchase of merchandise from their employer is only taxable if a limited number of specified situations exist, such as…

  • Are you ready for retirement?

    The Canadian Retirement Income Calculator (https://www.canada.ca/en/services/benefits/publicpensions/cpp/retirement-income-calculator.html) provided by the Government of Canada estimates retirement income generated through a number of programs such as the Canada Pension Plan, Old Age Security pension, an…

  • What formats of documents and records does CRA accept?

    We frequently get questions regarding acceptable formats for retaining documents and records that may later be requested by Canada Revenue Agency. Paper formats are always acceptable, and electronic or imaged versions are…