Tag: Canadian Income Tax Act

15 Jan

Does your occupancy period count towards your 12 month anti-flipping of property?

Bill C-32 makes a few simple changes to the Canadian Income Tax Act (the "Act") that have drastic tax consequences for those who have "flipped property". ...

20 Sep

A MIC’s Specified Shareholder, Related Parties and Prohibited RRSP Investment Rules

The Question being asked is a brother or sister of a shareholder of a mortgage investment corporation (MIC) a specified shareholder (To qualify as a MIC...

25 Jul

MIC Foreign Investors & Withholding Taxes on Dividends

The Quick and Simple is that Yes, withholding taxes (usually 25% of gross amount unless subject to a tax treaty with the resident country of the...

4 May

INCOME TAX LAW: A Share Purchase vs. an Asset Purchase of an Incorporated Business

This article is attempting to illustrate the type of reasoning necessary in order to decide if an asset purchase or share purchase of an incorporated business...