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The Canadian tax landscape experienced significant developments this summer, from expanded CRA audit powers and AI-driven compliance to new transfer pricing rules and evolving trade tariffs. These five key updates carry important implications for taxpayers and multinational businesses as they navigate an increasingly complex regulatory environment heading into fall.

The Canada Revenue Agency has issued new guidance on how non-profit organizations can manage accumulated surpluses and investment income while maintaining their tax-exempt status under the Income Tax Act. Meanwhile, the Department of Finance has proposed expanded reporting requirements that will significantly affect NPOs with annual revenues above $100,000 starting in 2027.

In Century Services Inc. v. Canada (Attorney General)1, released just before Christmas 2010, the Supreme Court of Canada overturned the prevailing case law that held that the deemed trust created in favour of the Crown under the Excise Tax Act (ETA) for collected but unremitted amounts of Goods and Services Tax/Harmonized Sales Tax (GST/HST) survived in the context of a Companies' Creditors Arrangement Act (CCAA) reorganization.

As we enter tax filing season next month, owners of businesses will need to finalize the amount and nature of their compensation.

The Canada Border Services Agency has made some significant changes to its position on the treatment of downward price adjustments in value for duty calculations.

On December 9, 2009, the Organisation of Economic Co-operation and Development (OECD) released a Report containing proposed changes to the Commentary on the OECD Model Tax Convention dealing with the question of the extent to which collective investment vehicles (CIVs or, in Canadian terms, mutual funds) or their investors are entitled to treaty benefits on income received by the CIVs.

To boost Canada's commercial competitiveness in areas including produce, energy, high-value services and products, the country's government is working on the Transformational Infrastructure Plan.

The COVID-19 pandemic is having a devastating global economic impact. To boost the Alberta economy and attract more business, the Alberta Government has recently announced several measures.

The <I>American Jobs Creation Act of 2004</I> made changes to the U.S. Internal Revenue Code to curb perceived abuses, like those occurring in high-profile cases such as Enron.

Canadian corporations often have sought to introduce leverage into a US subsidiary to finance US acquisitions and expansion.

The Honourable Nicolas Marceau, Quebec's Minister of Finance and Economy, today tabled the first Parti Quebecois budget, or "economic blueprint" since having taken office this past September.

On December 7th, 2015, the federal government tabled a Notice of Ways and Means Motion that proposes several personal and corporate tax changes to be effective January 1st, 2016.

The small business deduction is a tax-preference provided to certain privately-held Canadian corporations, and only in respect of certain types of income.

From our annual Tax Tips guide, here are the tips and suggestions for Corporation and the Self-Employed for the year 2016.

In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback.

Blaneys on Business readers may recall that we commented on Finance Minister Morneau's recent tax proposals affecting private corporations when he first mentioned them in the Federal Budget earlier this year.

When a person owes money to the tax authorities, it could be dangerous for them to try to subtract their major assets