Faris CPA
6 Lansing Square, Suite 223 M2J 1T5 Toronto, ON, Canada

T2200 Guidelines and Help | Professional Accountant Toronto

What’s the difference between a #TaxAccountant and a #TaxLawyer, and whom should you retain when facing a tax problem? The easy answer is that it depends on the type of tax help you need. The work of a lawyer and accountant can overlap, but there are some key differences as well. We go through those differences in more detail here: https://fariscpa.com/articles/tax-lawyer-vs-tax-accountant/

There are plenty of dual Canadian-US citizens living in Canada right now, and you may wonder if navigating the tax system is more complicated with #DualCitizenship. The short answer is yes, because the U.S. is one of only two countries in the world that imposes comprehensive world-wide #taxation on the basis of citizenship only. Read more here: https://fariscpa.com//Tax-Requirements-for-Canada-US-Dual/

In Canada, the death of a person can sometimes result in significant #TaxLiability for the deceased and the resulting estate because of the Income Tax Act. However, a spousal or common-law partner rollover is available when #property otherwise deemed disposed is transferred. Read more about it here: https://fariscpa.com/articles-and-tips/spousal-rollover/

I’m sure we would all love to save more on our taxes each year. Here are a few #TaxSaving opportunities in Canada that are available to #taxpayers, depending on specific factors and the situation. Read about it here and save more money on your next return! https://fariscpa.com/ar/Tax-Saving-Opportunities-in-Canada/

We put together a few specific #TaxTips to help you with questions you may have about filing future #taxes. Today, we’re going through split incomes, the Medical Expense Tax Credit, donation of ecologically sensitive land, and Search and Rescue Volunteer’s Credit. Read more here: https://fariscpa.com/articles-and-tips/tax-tips-part-2/

Canadian government started aggressively targeting off-shore #TaxCheats in 2013, that secrecy mostly came to an end. This is what you need to know about global transparency and the change in #BusinessTaxation in recent years: https://fariscpa.com//The-End-of-Secrecy-Global-Transpare/

Israel introduces second #voluntary_disclosure scheme ahead of CRS implementation http://www.internationalinvestment.net//israel-introduces/

RRSPs can get confusing when it comes to filing tax returns, especially when one spouse makes contributions to their spouse’s #RRSP. We break down what you need to know when it comes to spousal withdrawals and attributions for #tax purposes. Read more: https://fariscpa.com/articles-and-/spousal-rrsp-withdrawal/