Principal residence exemption – renting to a child

Tuesday, June 21st, 2016

The Canada Revenue Agency (CRA) was asked if a taxpayer's property designated as his "principal residence" but rented and lived in by his son continued to qualify as his "principal residence" for the purpose of claiming a principal residence exemption to shelter a gain from personal tax. The taxpayer owned the ...

Canada Revenue Agency cheques – who knew?

Tuesday, May 10th, 2016

The Canada Revenue Agency (CRA) recently issued a release to highlight its policies related to missing and uncashed cheques. The release included some reminders and some surprsing information. Of interest to executors are the CRA comments where the representative may be missing a cheque, or have not cashed ...