Attendant care payments

Wednesday, September 24th, 2014

With an aging population comes the importance of attendant care of the elderly and disabled. The Canada Revenue Agency (CRA) was recently asked about the taxation of amounts received for attendant care services provided to a spouse or child and returned with a pleasantly surprising answer. A child received a ...

Better late than never…or not

Monday, September 8th, 2014

The Canada Revenue Agency recently wrote about a whether a late-filed election to retain the principal residence status will be accepted. When the use of a property that is a principal residence is changed from being owner-occupied to a rental property the CRA considers the owner to have sold and reacquired ...

Record retention – what form and how long?

Wednesday, August 20th, 2014

As an executor you may be tasked with organizing the deceased's records and may wonder in what form and how long should those records be kept. The Canada Revenue Agency recently weighed in on the issue in a technical interpretation. In their view, every person carrying on business and every ...