CPA Solutions LLP

Subsection 220(3.2) may offer relief for late, amended, or revoked elections, but its limits can leave taxpayers with few options.

Our latest blog looks at Sechelt Holdings Inc. v. The King and what it reveals about the challenges of relying on this provision.

Read more through the link below.

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Employee Ownership Trusts are becoming permanent in Canada, but the rules remain highly restrictive.

Our latest blog breaks down what this means for business owners and employees. Read more through the link below.

https://bit.ly/4tsRM46

A clearer, faster path to support: the Spring Economic Statement introduces major changes to the Disability Tax Credit—reducing paperwork, expanding eligibility pathways, and making it easier to access the benefits Canadians deserve.

Click the link below to learn more and speak with us.

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When a Canadian trust makes capital distributions to a non-resident beneficiary, the tax treatment is not always as straightforward as it seems. From capital gains allocation to Part XIII withholding and timing rules, careful planning can help avoid unexpected compliance issues.

Contact our team to learn how these rules may apply to your trust. [link below]

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With T3 filing season here, understanding the difference between express and non-express trusts matters. Some trusts may still qualify for an exemption from enhanced reporting requirements, including Schedule 15.

Reach out to CPA Solutions to see how these rules may apply to your trust. [link below]

https://bit.ly/48uVmTD

What are the Canadian income tax consequences arising from a proposed cash distribution by a Canadian estate to a non-resident beneficiary of an estate?

Click the link below for our complete breakdown.

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March Break is here.

Wishing everyone a great week, enjoy the extra downtime and take a moment to recharge.

As personal tax season has arrived, we thought it might be helpful to discuss a recently published technical interpretation from CRA (2022-0923881I7) that covers a subsection 45(3) change-in-use election. Of the four questions asked of CRA, three could be very relevant to your practice.

Click the link below to learn more.

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CPA Solutions LLP's partner, Alex Ghani, interviewed for CPA Canada's Tax 360 initiative.

We understand firsthand how demanding tax season has become. Constant legislative change, increasing system complexity, and rising client expectations all put pressure on tax practitioners to… | Ryan Minor We understand firsthand how demanding tax season has become. Constant legislative change, increasing system complexity, and rising client expectations all put pressure on tax practitioners to deliver accurate answers: fast. That’s why I’m proud to share that CPA Canada is partnering with ...

CRA Technical Interpretation 2025-1053231E5 clarifies that granting a power of attorney (POA) over shares does not, in itself, change share ownership for purposes of the “excluded shares” exception under the TOSI rules in section 120.4 of the Income Tax Act. In the scenario reviewed, an adult child receives shares of a CCPC (originating from a family trust) and subsequently grants a POA to his father. The CRA’s analysis focuses on whether legal and beneficial ownership remain with the adult child despite the POA, and how that impacts eligibility for the excluded shares exception.

Click the link below to head to our website to learn more.

https://bit.ly/4aWTncn