Quebec Tax Advisory

Once an understanding of the most significant tax sections is attained, then specific client circumstances may require a creative solution.

 

Indeed, the tax code is highly complex and in some instances can give place unintended results such as double taxation or denying tax benefits although the latter was predestined to these taxpayers.  in order to benefit from government intended tax breaks

Examples include situations where a business owner is selling his business and is denied the capital gain exemption because his shares are not in compliance with the relevant section of the Income Tax Act. Other examples could include a sale of sales upon the death of taxpayer resulting in an 80% taxation rate of the capital gain or double taxation in international tax setting.

In various situations, creative solutions, combine with an thorough understanding of the relevant tax sections, can ensure that the Canadian or Quebec tax codes do not lead to unintended results.