Digital Assets and Barter Transactions: The Hidden Crypto Trading Tax

The Canada Revenue Agency (“CRA”) defines a “barter transaction” as the reciprocal exchange of goods or services without the use of government-issued currency. Payments for goods or services made with cryptocurrency are generally treated as barter transactions by the CRA. This treatment has important tax consequences for individuals and businesses that utilize cryptocurrency.

One Hat Too Many: Risks of Overlapping Roles in Family Trusts

A trust is an important estate planning tool which helps control the succession of your assets, provides asset protection and if properly constituted can provide tax benefits. Ontario law does not expressly prohibit the same individual acting as settlor, trustee, and/or beneficiary in the same trust.

Digital Asset Tax Planning in Canada: Structuring Best Practices and Pits and Traps to Avoid

There is a broad misconception that Crypto tax rules in Canada are a gray area of law. This is not true. In fact, Canada, which pioneered the expansion of digital assets post- Bitcoin with the creation of Ethereum and other seminal cryptocurrencies, was at one time a leader in Crypto regulation. This put Canada ahead of most countries in terms of having an established framework

Crypto Tax Basics: Capital gains on stable coins?

While most questions about digital asset taxation are largely settled in Canada, there are still a number of rules that cause confusion, particularly given some of the recent changes to the way capital gains are taxed. In particular, one question we often receive is: “if I buy and hold crypto currency that substantially goes up in value, and then I trade

Buying Real Estate With Cryptocurrency: What You Need To Know

With the rising values of digital assets like Bitcoin and Ethereum, many early adopters and savvy investors are trying to find ways to use these cryptocurrencies to finance their needs. While walking into a store and using Bitcoin to purchase goods is still not widely available

Incorporating Your Sole Proprietorship: What You Need to Know!

When starting a business, many people choose not to incur the costs, administrative hassle, and accounting expenses associated with incorporating a corporation. However, there will come a time when incorporating makes sense for you to allow for the following advantages

Offshore Structuring: What do I need to know?

In recent years there have been many regulatory and legislative changes related to the rules pertaining to setting up your business offshore. Although there are many reasons, other than tax efficiency, which exist for establishing a presence offshore, such as owning or holding investment or rental properties

When is it right to consider Cross Border (USA) and Offshore structuring?

Offshore structuring has a bad rap. In recent years, exposés, investigative journalists and various documentaries and movies sensationalized how billionaires and big corporations stashed money abroad in hidden bank accounts to avoid taxes, which has drawn the ire of the public and the scrutiny of regulators.

Grinhaus law firm becomes first Canadian Law Firm in the Metaverse with virtual office in Decentraland

Grinhaus Law Firm, a boutique business, estates and tax law firm, as well as a leading firm in Blockchain advisory located in Toronto, Canada, has become the first Canadian law firm, and one of only a handful world-wide, to establish itself in the Metaverse