Tax Blog

DT Max Tax Blog

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



  • Tax on Split Income Changes

    Untitled Document

    In the July 2017 announcement, the federal government announced some significant changes coming to the tax on split income rules. The changes became official with the December 2017 proposals. In this instalment, we take an in-depth look at these new rules.

    Significant Change to the “Specified Individual” Definition...

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  • Separation - Positive and negative tax consequences

    In this installment, we will see all the tax implications we need to consider when a separation happens between a married or common-law couple.

    When is there a separation?

    A separation becomes official when you have been living separate or apart due to a breakdown of the relationship for a ...

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  • Tax Firm Preparation for Tax Season

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    We are already at the beginning of a new year! Tax season is around the corner and now is the time to prepare your firm for the upcoming season. What can you do to get ready? Read on…

    Below are steps you should go through in ...

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  • Common-Law Spouses

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    Much has been written about taxation and its incidence on common-law spouses. This article will delve into certain considerations to look into when it comes to common-law spouses, and pitfalls to avoid in certain specific cases.

    Definition of a Common-Law Spouse as per the Income Tax Act

    ...

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  • 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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