Independent consultants in Canada will often incorporate their practice in order to offer some liability protection not otherwise achieved through a sole-proprietorship structure. From a Canadian income tax perspective, the incorporated consultant will often make the choice between compensating himself by way of salary or receiving dividends from the corporation. In addition, many year-end corporate […]

A recent Canadian tax court case confirmed that an online poker player’s winnings were not subject to Canadian income tax. In Radonjic V. The Queen, 2013 FCC 916, Peter Radonjic, a Coquitlam BC resident, paused his career as a lawyer to play online poker on a full time basis. The case centered on whether his […]

The ownership of real property is often made possible with mortgage and other debt financing. Such mortgage financing offers a U.S. taxpayer the ability to deduct for income tax purposes the interest paid, subject to some limitations. The repayment of the mortgage would not normally be expected to create an income tax liability. However, for […]