If you use the same vehicle for business and pleasure, a logbook should be kept to identify the business, and personal use. If you are able to deduct vehicle expenses, then only the business portion can be deducted from income. If a business is providing you with a vehicle, a logbook must be kept to […]

Income Tax Act Subsection 110.6(1), 110.6(1.3), 110.6(2) In 2015, the amount increased that a taxpayer can claim for the lifetime capital gains exemption as it relates to qualified farm property. The amount is now $1,000,000. The definition of qualified farm property comes from Subsection 110.6(1) of the Income Tax Act. The farm property must be […]

You do not have to report certain amounts in your income, including the following: Any GST/HST credit or Canada child tax benefit payments, as well as those from related provincial and territorial programs; Child assistance payments and the supplement for handicapped children paid by the province of Quebec; Compensation received from a province or territory if […]

Below is the complete list of Canadian officers of entities associated with the Panama Papers. If your name is in the list below, it means that you have been linked to the Panama Papers. If you are affected, call Barrett Tax Law at 1-866-278-8424 or visit www.barretttaxlaw.com immediately for legal protection and a free consultation […]

It has come to our attention that there are scammers claiming to be working with Barrett Tax Law, when in fact they do not. If you receive a call from a man named Timothy Rufus, claiming to be working with our firm, or calling from this phone number: (613) 366-5293, please be advised this is a scam. […]

Many taxpayers have participated in tax shelters and donation schemes and have filed objections with respect to reassessments issued by the Canada Revenue Agency. Many of these objections are outstanding, and some are already before the courts. Generally when you file a Notice of Objection, the CRA is prevented from initiating legal or collections action […]

If you’re a parent interested in the eligible dependant tax credit, then being aware of the rules and regulations is crucial. The reason why is quite simple. There are a number of rules involved in the eligible depend tax credit which could prevent you from eligibility. It’s also important to note that the dependant does […]