Personal & Corporate Tax Planning

“Parliament recognized the Duke of Westminster principle that tax planning with the objective of attracting the least possible tax is a legitimate and accepted part of Canadian tax law.”

McClarty Family Trust v. The Queen, 2012 TCC 80 at paragraph 48

Whether you are just starting your career, or thinking about selling your business and retirement, tax counsel at TaxNinja.ca can help you with all your personal and corporate tax planning needs in order to ensure that you never pay more tax than legally obligated.

 

Tax planning is an important part of a taxpayer’s financial health and should be periodically revisited and always considered carefully before making any significant financial decisions. The most beneficial tax planning does not happen once, but over a taxpayer’s lifetime.

 

Tax counsel at TNTL can assist you with:

  • Business succession planning

  • Small business deduction planning

  • Capital gains deduction planning

  • Purchase/sale of business tax planning

  • Purchase/sale of asset tax planning

  • Purchase/sale of real estate tax planning

  • Business structures and reorganizations

  • Executive tax planning

  • Tax planning for professionals and private business owners

  • Registered retirement savings (“RRSP”) planning

  • Tax-free savings account (“TFSA”) planning

  • Registered Retirement Income Fund (“RRIF”) planning

  • Employee compensation benefits, and stock option planning

  • Charitable donations and gifts

  • Loss planning

  • And much more

Trust & Estate Planning

“On death, all capital property of a deceased taxpayer is deemed to have been disposed of, immediately before death, for proceeds of disposition equal to the fair market value of the property. Any resulting taxable capital gains (or allowable capital losses) have to be recognized as income (or loss) of the deceased for the taxation period ending at his or her death.”

Homer v. The Queen, 2009 TCC 219 at paragraph 16

Tax law and estate planning go hand-in-hand. The largest tax bill a taxpayer will ever receive from the Canada Revenue Agency will be upon their death. However, these tax obligations can often be reduced or deferred if proper planning is undertaken. This ensures you will leave a larger estate to your loved ones. Like personal and corporate tax planning, proper estate planning should be reconsidered periodically over one’s lifetime in order to maximize the tax planning benefits. As such, it is never too early (or too late) to consider your estate plan.

 

Tax counsel at TNTL can assist you with:

  • Estate freezes and related tax deferral strategies

  • Settlement of family trusts

  • Tax and succession planning with respect to significant family assets

  • Tax advice with respect to the preparation of your will and enduring power of attorney

  • Family farm succession planning

  • Family business succession planning

  • Marriage contracts and family law planning

  • And much more

Tax Appeals

“While paragraph 9 of the Rules allows the Court to dispense with compliance with any rule, it does not allow a Court to dispense with the requirements of the Tax Court of Canada Act nor can this court change this Act. Section 17.1 of the Tax Court of Canada Act is clear and the Appellant may either appear in person or be represented by counsel….”

The Honourable Justice W. Webb
Tax Court of Canada

Tax counsel at TaxNinja.ca understand that as a tax accountant or tax preparer you will often make significant contributions to your client’s tax dispute during an audit or objection to the Canada Revenue Agency (“CRA”). However, when you feel the CRA has improperly denied your submission, the next step is an appeal to the Tax Court of Canada.

 

Tax accountants or tax preparers cannot represent their clients during general procedure appeals, and as such, it is important to find a lawyer who is experienced in the unique and complicated rules of evidence and procedure exclusive to the Tax Court of Canada. Tax counsel at TaxNinja.ca have experience advancing appeals to the Tax Court of Canada and litigating cases against Federal Government Lawyers who represent the Canada Revenue Agency. Appeals often have short deadlines, so contact us today for a free confidential evaluation of your case.

Criminal Tax Evasion

“When individuals are convicted of failing to report income on their tax returns, in addition to any fines imposed by the courts, they must still pay the full amount of taxes owing, plus interest, as well as any civil penalties that may be assessed by the CRA.”

Canada Revenue Agency
Convictions Newsroom

Although tax audits and appeals can be stressful and have a negative financial impact on taxpayers, nothing is as perilous as an investigation by the Canada Revenue Agency’s Special Criminal Investigations Unit (“CRA-SI”).

 

Conviction of a criminal tax offence carries with it a fine of between 50% and 200% of the tax sought to be evaded. In addition to the fine, a taxpayer can face imprisonment of a term up to 5 years. Further, the taxpayer must still pay all the tax, including any interest and penalties. In many cases, the financial and personal consequences are devastating.

 

If you suspect that CRA-SI may be undertaking a criminal investigation, it is imperative that you obtain experienced legal advice immediately. Experienced representation increases the likelihood that the taxpayer will avoid criminal charges or mount a successful defence at trial. Neither a taxpayer nor their Tax Accountant or Tax Preparer should deal with CRA-SI personally, as criminal tax matters are extremely complex and perilous legal threats.

 

To adequately defend criminal tax cases, lawyers require experience in both criminal law and procedure and an in-depth knowledge of tax law. Neither typical criminal lawyers nor typical tax lawyers are experienced in both. Tax counsel at TaxNinja.ca have experience in Canadian criminal law and procedure, including highly technical Charter challenges, as well as understanding of our tax laws and associated regulatory procedures.

 

Contact us today for an urgent and confidential review of your case.

Tax Audits

When your accountant says, “there is nothing more we can do,” contact TaxNinja.ca

Tax audits by the Canada Revenue Agency (“CRA”) can be frustrating, stressful, and expensive. The CRA has significant legal and financial resources which it uses to its advantage. As such, experienced professional representation is necessary in order to ensure your audit ends with the best possible result.

 

Auditors focus on facts and law which are favourable to the CRA. This can result in a much higher tax assessment, including sometimes double-tax, triple-tax, as well as excessive penalties and interest charges. Your tax lawyer at TaxNinja.ca will conduct a factual and legal analysis which puts your best foot forward. This will ensure the lowest possible tax assessment you are entitled to according to law.

 

Contact us today for your free confidential audit consultation.

Tax Objections

“You are entitled to fair treatment in all your dealings with us. One of the most important features of this is the right to a formal review of your income tax assessment.”

Canada Revenue Agency
Resolving Your Dispute

After the Canada Revenue Agency (“CRA”) has completed your audit, they will most likely issue a Notice of Reassessment imposing additional tax payable. If you disagree with the CRA’s reassessment of tax, you are required to submit a Notice of Objection to the Chief of Appeals in order to request a formal review of any additional tax imposed by the auditors. After receiving the Notice of Objection, the Chief of Appeals will assign an Appeals Officer to review your case. Appeals Officers are very knowledgeable about Canada’s tax laws. As such, making a compelling submission to an Appeals Officer requires extensive experience interpreting and applying Canada’s complicated tax legislation.

 

Your tax lawyer at TaxNinja.ca is experienced at drafting compelling submissions for review by the Appeals Division of the CRA. Further, our counsel frequently resolve tax disputes with CRA’s Appeals Officers which avoids a costly appeal to the Tax Court of Canada. As such, early intervention in your tax dispute is highly recommended.

 

Contact us today for a free confidential evaluation of your tax reassessment or proposed objection.