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Israel’s 2025 Voluntary Disclosure Procedure: Critical Updates and Clarifications for Canadian Taxpayers with Israeli Ties
August 2025 Changes: Launch of the Israeli Voluntary Disclosure Procedure (VDP) In August 2025, the Israel Tax Authority (ITA) launched a comprehensive Voluntary Disclosure Procedure (VDP), designed to encourage taxpayers…
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Everything Canadian Families Need to Know about the Two Types of RESP Withdrawals: Tax-Free vs. Taxable Payments
Understanding the Taxation of RESP Withdrawals A Registered Education Savings Plan (RESP) is a cornerstone of educational financial planning in Canada. It allows families to save for post-secondary education through…
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How Canadian Residents Must Report Foreign ‘Spin-Off’ Shares under Section 86.1 of the Income Tax Act
Foreign corporations sometimes restructure their business and distribute shares of a new or separate company to their existing shareholders. For Canadian residents, these shares are known as foreign spin-off shares,…
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When CRA is Allowed to Miss Deadlines, or Why You Need an Experienced Tax Litigation Lawyer in Tax Court: Golden Mind Investment Ltd. v. The King, 2025 TCC 77
Introduction: Tax Litigation & Examination for Discovery The Tax Court of Canada serves as a federal court that adjudicates disputes arising from tax matters between individuals or companies and the…
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Understanding CRA Form T106 and How It Compares to U.S. Reporting Requirements
What Is CRA Form T106? Canadian taxpayers who engage in cross-border dealings with related non-residents face special reporting requirements. One of the most important filings in this area is CRA…
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CRA Finally Unveils 100-Day Service Improvement Plan for 2025: How Canadian Taxpayers Should Benefit
CRA Service Challenges and Ombudsperson Concerns In 2025, Canadians faced prolonged delays with the CRA, including call answer rates below 40%in July 2025 and lengthy processing backlogs for T1 tax…
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CRA Tax Treatment of Crypto Staking on CSA Platforms: Guidance from Canadian Crypto Tax Lawyers
Canadian Crypto Asset Regulation: Current Landscape for Investors Although Bitcoin, the first cryptocurrency, was created in 2008, Canada’s approach to regulating cryptocurrencies and trading platforms (also called crypto exchanges) remains…
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Seven Essential Steps for Estate Administration Across Canada – Guidance from an Experienced Canadian Tax Lawyer
When an individual dies, all property, assets, and interests left behind constitute the estate. Estates may include bank accounts, investments, real property, business shares, personal possessions, cryptocurrency or NFTs, and…
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A Canadian Tax Lawyer Explains Self-Reporting & Penalty Risks of Canada’s Enhanced Mandatory Tax Disclosure Rules
Canada Strengthens Mandatory Disclosure Rules On June 22, 2023, Parliament amended the Income Tax Act to significantly expand Canada’s mandatory disclosure regime, now set out in Sections 237.3 to 237.5. These changes…
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When CRA Denies Penalty Relief in Major Non-Compliance Cases: Offshore Income and Aggressive Tax Shelters (2020–2025)
Introduction Between 2020 and 2025, the Canada Revenue Agency (CRA) has maintained a stringent approach towards taxpayers involved in significant non-compliance, particularly concerning offshore income and aggressive tax shelters. While…
