Tax Blog

DT Max Tax Blog

Be prepared for tax season by consulting our regular blog updates.



  • Securing Your Tax Practice – Data Breach Plan

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    The unthinkable has happened: there has been a breach of your data networks. What is the proper response in such a situation?

    The following paragraphs are inspired by the FTC article “Data Breach Response: A Guide for Business”.

    Secure Your Operations

    Time is of the essence ...

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  • Securing Your Tax Practice - Safeguarding Your Data

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    In the first part of this series, we saw how the engagement letter can be an indispensable tool to protecting your tax practice. In the second part of the series, we will see how to properly secure your client’s data.

    Security Checklist

    The following checklist is ...

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  • Securing Your Tax Practice - Engagement Letter

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    Securing your tax practice is a crucial component of your business. An engagement letter is one such tool that allows you to protect your business. In this instalment, we will see what should be included in a proper engagement letter.

    Why Engagement Letters Are So Important to Your ...

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  • Depreciable Properties

    In a previous instalment, we discussed the differences between a capital and a current expenditure.  In this instalment, we will expand on the definition of depreciable properties by presenting some interesting perspectives provided by case law. How does the CRA define such properties? We will also see where, specifically ...

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  • Eligible Capital Property Changes

    Many changes have been brought to the treatment of Eligible Capital Properties (ECP) for tax years 2017 and afterwards. This instalment will explain these changes.

    Eligible Capital Properties Become Depreciable Properties

    As of January 1, 2017, all ECPs are now depreciable properties, with a new class number, class 14.1 [R1100(1)a)(xii.1)]. ...

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  • Capital vs Current Expenditures

    The age-old question of taxation: is the expenditure incurred by the taxpayer a capital or a current expenditure? In this instalment, we will see the criteria that must be analyzed in order to determine the type of expense, and analyze certain interesting real-life cases on this topic.

    Determination Criteria ...

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  • CCA vs Potential Recapture

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    When owning a rental property, an important tax planning consideration is whether or not to claim Capital Cost Allowance as an expense. In this article, we will take a look at the factors that should be considered when deciding on whether to take CCA.

    Potential Future Recapture

    ...

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  • Principal residence disposition - Special topics

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    In the first article, we learned about the basics of a principal residence disposition. Now we will see special topics that affect the principal residence disposition.

    October 3rd, 2016 announcement
    Reporting requirements for the sale of a principal residence
    The federal government made administrative and legal changes ...

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  • Principal Residence Disposition

    The sale of a principal residence can be a complex transaction to enter on a tax return. Let’s have a look in detail at some of the concepts as well as other considerations that have to be taken into account when designating a property as a principal residence.

    Basic Definition ...

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  • EFILE: What do the tax authorities actually receive when you transmit?

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    The EFile program, offered by both the Federal and Quebec governments, has allowed tax preparers to transmit electronically their clients’ tax returns in an efficient manner. Considering how many years the program has been around, most tax preparers take for granted what they transmit to the CRA and ...

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