One of the benefits of incorporation is that it allows for the use of dividends, which can be taxed at lower rates through the dividend tax credit regime. The plot twist? Not all dividends are made equal. Dividends are taxed at differing rates depending on their type, and misclassifying the kind of dividend you declare […]
There are many ways to establish residency in Canada, both on a temporary and permanent basis. Work permits, which are temporary by nature, provide individuals with the opportunity to gain Canadian work experience. This experience can later support an application for permanent residency, as it is a key factor strongly considered by Immigration, Refugees and […]
As we move from warm cottage weather to the colder gusts of wind and eventual snowfalls that are non-negotiable staples of the Canadian climate, many retirees gear up to migrate temporarily across the border to escape the cold. These retirees, informally known as “snowbirds”, are individuals who reside in Canada for the majority of the […]
The International Experience Canada (IEC) is one of the easiest ways for young people from around the world to spend time in Canada while gaining valuable work experience and exploring everything Canada has to offer, from big city living to mountain towns. What is the IEC All About? The IEC is a temporary work permit […]
As a small Canadian business owner, you may be paying unnecessary additional tax on business income. Your corporation earns income and may distribute dividends, if it is profitable, to its shareholders (including you), which you then have to pay individual tax on, creating a double taxation problem. You pay tax twice on the same income; […]
Learn how foreign nationals in Ontario who have paid the Non-Resident Speculation Tax (NRST) may qualify for a full rebate. Whitby real estate lawyer Paria Rad explains the Permanent Resident of Canada NRST Rebate, which allows eligible buyers to recover the entire amount of NRST once they become permanent residents. To be eligible, the purchaser […]
When selling a business, there are assets like property tied to the business, and as such, it may seem logical to just sell the property. After all, many businesses own the property where their physical storefront operates, be it owned outright or under mortgage(s). However, with careful tax planning based on share sales of qualifying […]
Toronto Wills and Estates Lawyer Ishita Chopra joined Devry Smith Frank LLP (“DSF”) in 2025 as an associate in our wills and estates department. Ishita is passionate about estate planning, administration, guardianship and capacity related litigation. She is compassionate and takes time to understand client’s individual needs to provide strategic advice in protecting their legacies. […]
Foreign buyers seeking to purchase residential property in Ontario must be aware of the Federal Foreign Buyer Prohibition. Ontario real estate lawyer Paria Rad explains how the act restricts non-Canadians from buying residential real estate, whether directly or indirectly, under federal law. She outlines who is subject to the prohibition and clarifies which individuals and […]
On March 28, 2024, Toronto District School Board (the Board) commenced a lawsuit against social media platforms including: Meta Platforms Inc. (Facebook and Instagram); Snap Inc (SnapChat); and ByteDance Ltd. (TikTok) (“the Corporations”).[1] The Board alleges that the Corporations have negligently designed and marketed addictive products which have interfered with the Board’s mandate to enhance […]