Our BLOG

We are pleased to provide a variety of resources on accounting, taxation, and other related subjects that we think you will find helpful to both individuals and businesses.

Browse through the Quick Tools resource menu then, if you have a question that isn’t answered, we can help to clarify your situation.

Simply contact us by email or give us a call at 905-252-6796. We would be happy to meet with you for a free, no-obligation consultation to discuss your unique situation.

Disclaimer:
The content provided in this blog is for general informational purposes only and is not intended as professional accounting, tax, or financial advice. While efforts are made to ensure the accuracy and timeliness of the content, errors or omissions may occur. The content does not constitute a client-advisor relationship. Readers should consult with a Chartered Professional Accountants or other financial professional for advice tailored to their specific needs. We are not liable for any actions one might take based on the information provided in this blog.

Gifting a Capital Property is a Disposition in Canada

In Canada, gifting a capital property is considered a disposition for tax purposes. When you gift a capital property to someone, it is treated as if you have sold the property at its fair market value (FMV) at the time of the gift. This means that you may be subject to capital gains tax on any accrued gains in the property's value up to the date of the gift, even though you didn't receive any cash in return.

Continue reading
0
  205 Hits
0 Comments
Tags:
gifting capital property tax purposes gift property

Are Gifts from an Employer a Taxable Benefit?

In Canada, gifts from an employer can be considered taxable benefits in certain circumstances. The taxation of employer-provided gifts depends on several factors, including the nature and value of the gift, the frequency of such gifts, and the specific rules set by the Canada Revenue Agency (CRA).

Continue reading
0
  204 Hits
0 Comments
Tags:
gifts employer Taxation value gift

Are Gifts or Inheritances Taxable in Canada?

In Canada, gifts and inheritances are generally not taxable to the recipient. However, there are some important nuances and exceptions to consider:

Continue reading
0
  217 Hits
0 Comments
Tags:
Canada income gift tax return income tax

Contact Us

Email
Book an Appointment

Our Office

RN Mabira Professional Corporation
Accounting Services
112 Violet St.
Barrie, ON L4N 9M8 

Phone: (905) 252-6796

Directions

Links