By Catherine TIAN Disclaimer: The information contained in this article is general in nature and does not constitute legal advice. Please contact the Law Office of Jeff J. Li, or another experienced business lawyer if you are concerned about your business…
Category: Tax Law Blog
Methods of Carrying On Business
By: Catherine Tian and Jeff Li There are various methods of carrying on business. Choosing the appropriate form of business organization is the first, and possibly the most important, step when you start the adventure. Here we discuss the advantages…
Jeff Li Settled a Tax Court Case with Department of Justice
After approximately two years of litigation, Jeff Li recently settled a tax court case with the Department of Justice of Canada (DOJ), avoiding a trial that could have lasted 5-6 days. In this case, the client is the owner of…
Canada lawyer put $1.7M in offshore tax havens
Source: CBC News A prominent Canadian lawyer, husband to a Liberal senator, moved nearly $2 million to secretive financial havens while he was locked in battle with the Canada Revenue Agency over his taxes, according to documents in a massive…
The art of negotiation
Most people know lawyers argue and fight in the court. Few people know, however, lawyers are negotiators who constantly try to make the deal outside the court. Think about that, in both family law and business law contexts, 90-95% of…
Fraud Alert – Do not disclose your information over phone calls
A client of mine had this recent experience. She buys and sells a number of homes, and one day she received a phone call from a 1-855 number. The caller claimed to be an investigation agent of the Canadian Revenue…
Taxpayer relief and financial hardship
With the economic downturn, many individuals and enterprises are carrying major tax liabilities, typically with hefty penalty and interest charges. Oftentimes, if a taxpayer can pay any money, it will be applied to the interest and penalties only. That means…
Tax evasion: What is it and how to defend (II)
(Continued) Generally successful defences There are a number of defences that a taxpayer may use and may be successful against a charge of wilful tax evasion. The most used among these is the lack of required intention (mens rea). If…
Tax evasion: What is it and how to defend (I)
A taxpayer may receive a letter from the Canada Revenue Agency (CRA) informing that they have commenced a criminal investigation against him/her. Most of the criminal investigations relate to tax evasion, which involves an illegal breach of specific statutory duties…
Underreported your income or missed tax returns? Tax amnesty may help you
If you have never filed all your income tax returns or have filed them incorrectly, Revenue Canada’s Voluntary Disclosure program, often called “tax amnesty,” may be for you. If you have missed to report your income and pay the corresponding…