ZMA Chartered Professional Accountants

Ottawa convenience store owner sentenced for tax evasion

Ottawa convenience store owner sentenced for tax evasion - Canada.ca The Canada Revenue Agency (CRA) announced that on November 23, 2021, Ali Kariminazagheh, also known as Ali Karimi (Karimi) of Ottawa, Ontario, was sentenced to an 18-month conditional sentence and a fine of $83,499. Karimi pleaded guilty in the Superior Court of Justice, in Ottawa, to one count of t...

The Canada Revenue Agency confirmed this week that some taxpayers who repaid COVID-19 related benefits in 2020 have received incorrect tax slips that wrongly list portions of the repaid benefits as taxable income.

CRA says 'rare' error in some tax slips lists repaid CERB as taxable income The Canada Revenue Agency says some taxpayers who repaid COVID-19 related benefits in 2020 are getting incorrect tax slips.

If the CRA determines that you are using your TFSA to day trade, you may lose the benefit of your tax-free gains.

Day trading in a TFSA - ZMA - Professional Corporation - Chartered Professional Accountants Benefit of tax-free gains be lost if the CRA determines that you are using your TFSA to gain business income, as opposed to investment income.

Your TFSA is a great way to accumulate tax-free income, but what happens when the account holder dies?

Is a TFSA inheritance tax-free? - ZMA - Professional Corporation - Chartered Professional Accountants TFSA