News

  • 6 Reasons why you should consider Belize for establishing an Asset Protection Trust

          Belize is a country located in Central America bordered by Mexico to the north, Guatemala to the west, and the Caribbean Sea to the east.  It...
  • How to Get SR & ED Tax Credits

    How to get part of the $3 billion in Scientific Research and Experimental Development tax credits being given away
  • How to become a digital nomad and pay no income tax

    Become a digital nomad and live the laptop lifestyle
  • OSC cracks down on unregistered crypto trading platforms

    The OSC recently obtained multi-million dollar penalty orders against  three offshore crypto trading companies and imposed a permanent ban on two of them.
  • CRA revokes tax amnesty for failure to make full disclosure

    CRA revokes tax amnesty for failure to disclose taxable benefits from his companies in Panama. Gross negligence penalties imposed.
  • How can the CRA find out about my unreported foreign income?

    In previous posts when I've written about tax amnesty, I've received some comments from readers saying that I don't know what I'm talking about bec...
  • Tax Consequences of Exchanging Cryptocurrencies

    If you exchange one cryptocurrency – say Bitcoin, for example, – for another cryptocurrency – say Litecoin – do you have to pay tax on that transa...
  • Federal Budget 2022: The Tax-free First Home Savings Account

    In the 2022 Federal budget, the Canadian Government has proposed a Tax-Free First Home Savings Account ("FHSA") to assist first-time home buyers in...
  • Cryptocurrency Traders Face Audit By the Canada Revenue Agency

    Cryptocurrency lawyer Norm MacDonald warns cryptocurrency traders about CRA audit
  • Employment Expenses – Masks, Gloves, and Sanitizing Liquid

    If your employer requires you to wear a mask or gloves, or use sanitizing liquid due to COVID, and does not reimburse you for the cost, the good ne...
  • The Myth About Tax Amnesty

    For years, many accountants and tax lawyers, have been circulating advice to the effect that under the Canada Revenue Agency’s Voluntary Disclosur...
  • Some of My Reported Cases

    Below is a representative sample of some of Norman MacDonald’s reported cases. Akeroyd v. The Bermuda Tax Commissioner [2020] SC (Bda) 22 Civ ( 6 A...