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When a Canadian business owner passes away while owning shares of a private corporation, the deceased is generally taxed on the accrued gain in the shares. If the corporation later redeems the shares, winds up or distributes assets, the same underlying corporate value may be taxed again, usually as a
A common issue encountered in the tax world is whether legal fees are deductible for tax purposes. The answer is not always straightforward. There are many situations where legal fees can be incurred, and the underlying event giving rise to the fees will determine the tax treatment. Legal fees incurred in the
Toronto, ON – Q2 is the busiest quarter for our firm, but even as we tackled our most essential obligations, we continued to contribute to important causes and participate in community events. After all, the way we see it, there’s always time to help make a positive impact. Contributing to community Partner Ankur Javalekar,
