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The program involved donations of Turks and Caicos timeshare units to a registered charity at a fair market value greater than the cash payment made by the participants to acquire the timeshares.

To meet their obligations under the Income Tax Act (Canada), all registered charities must file a Registered Charity Information Return (T3010) on an annual basis within six months of their financial year end.

In this video from the CBB Corporate Counsel Insights Series, partner Andrew Reback discusses share purchase agreements and cross-border tax issues.

For those that are looking to the Income Tax Act for relief and comfort on the horizon after a difficult 2020, we suggest looking elsewhere.

The Canada Revenue Agency ("CRA") has recently announced that the proposed beneficial ownership reporting requirements for trusts will not be part of the 2021 T3 trust reporting requirements.

Delays in the commencement of pension benefit payments to a member or his/her survivor sometimes inadvertently occur.

As part of the Government of Canada's (Government) COVID-19 Economic Response Plan, the Department of Finance Canada announced on July 2, 2020, the release of proposed draft regulations...

In the 2018 budget, the Government of Canada announced its initiative to discontinue CRA policies regarding health and welfare trusts (HWTs) and require conversion of HWTs to employee life and health trusts (ELHTs).

On May 20, 2021, the Department of Finance Canada announced a one-year extension of draft regulations, initially released on July 2, 2020 (2020 Draft Regulations)...

The federal government has enacted a new tax law that requires unions to disclose financial information (Bill C-377, An Act to Amend the Income Tax Act, passed on June 30, 2015).

On August 27, 2010, the Canadian government once again released draft legislation to amend the Income Tax Act (the "Act") relating to investments in so-called "non-resident trusts" (NRTs).

The Liquefied Natural Gas Income Tax Act reflects the culmination of the Province's goal to introduce an LNG tax framework, which was initially unveiled in February 2014.

On October 21, 2014, the British Columbia Government tabled Bill 6, the Liquefied Natural Gas Income Tax Act.

The New Year will bring several important income tax changes to estates and testamentary trusts.

If you answered YES to any of the above, you should consult an expert to make sure that there are no unexpected problems for your loved ones!

Earlier today, Canada’s Department of Finance released its long-awaited consultation paper entitled "Tax and Other Issues Related to Publicly Listed Flow-Through Entities (Income Trusts and Limited Partnerships)".

The Federal Government announced new changes to impacting employees with stocks and eligible families who receive the Canada Child Benefit. These changes come in effect in the 2021 calendar year.