Source deductions and remote work: A new administrative policy
Employers are required to determine the province or territory of employment of their employees to make appropriate source deductions. In recent years, the sharp rise in full-time or hybrid remote work has made it harder for employers to comply with […]
Employee ownership trusts in Canada: Plan carefully to avoid unintended tax consequences
In the United States and the United Kingdom, an employee ownership trust (“EOT”) is a common option for business owners seeking to transfer their business to employees or to establish an employee remuneration plan. In Canada, several different provisions of […]
Is your partnership allocation method reasonable? The ability of tax authorities to reallocate income and losses of a partnership
Partnerships are frequently used in various legal structures as they can be a beneficial vehicle to address certain business needs. Despite the advantages of using a partnership, partners must nevertheless take into account the potential taxation issues that may arise. […]
Agreement with creditors: Beware
The unprecedented COVID-19 pandemic is having a significant financial impact on many Canadian businesses regardless of their size. A business experiencing financial difficulties may attempt to negotiate a full or partial reduction in amounts owed to its creditors. In such […]
