CRA Penalizes Taxpayer for Failing to Report Sale of Residential Real Estate
CRA reassesses Toronto taxpayer and imposes gross negligence penalties for failing to report real estate sales and misusing the principal residence exemption.
Canadian tax law
Why Some Wealthy Canadians Look At Tax Shelters
Many high income Canadians use tax planning tools beyond RRSPs. Donation based programs and other tax shelters can reduce tax in heavy income years, help with departure tax planning, and support charitable goals. Here is a simple breakdown of why people explore them and what to consider.