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

Working from Home during Covid-19: Are You Becoming an Independent Contractor?

One of the most profound results of the Covid-19 pandemic has been the effect it has had on the composition of the workplace. Working remotely has forced employers to move to a task-based measure of labour…

Business Leases in the Time of Covid: What you Need to Know!

Even with the “work from home revolution” caused by the Covid-19 pandemic, many businesses still need space for inventory, operations, retail facilities and for a plethora of other reasons. The Ontario Commercial…

Attention Ontario Realtors: You Can FINALLY Incorporate…and Here’s How!

After a years-long lobbying effort, Ontario Realtors are FINALLY allowed to reap the tax and liability protection benefits of using a Personal Real Estate Corporation (PREC). On October 1, 2020, new regulations under…

Buying a business? Don’t Sign Anything Before Reading This!

Buying a business is a great way for an entrepreneur to hit the ground running by acquiring a going concern with existing clients, cash flow and infrastructure such as an office and employees. Buying an existing…