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  • Article

    Income Trust Tax Legislation Now Law

    Bill C-52, the legislation implementing the 2007 Federal Budget measures as well as the income trust legislation, received royal assent on June 22, 2007 and is now law. Despite numerous recommendations for changes to the draft legislation first released in December of 2006, the final legislation is virtually unchanged from the original proposal.
    CanadaTax
    Borden Ladner Gervais LLP
    Borden Ladner Gervais LLP
  • Article

    Information Bulletin 2019-5 – New Mandatory Disclosure Of Nominee Agreements

    Further to the statements made in Budget 2019-2020 about strengthening mandatory disclosure mechanisms, and improving rules governing the use of nominees, the ministère des Finances du Québec released...
    CanadaTax
    McCarthy Tétrault
    McCarthy Tétrault
  • Article

    Intergenerational Business Transfers: Bill C-208 Developments

    Prior to 2021, section 84.1 of the Income Tax Act ("Act") created a real impediment to a tax-efficient succession of a family business from one generation to the next, effectively penalizing...
    CanadaTax
    Miller Thomson
    Miller Thomson
  • Article

    Introducing Personal Real Estate Corporations

    Effective October 1, 2020, brokers and agents in Ontario can incorporate personal real estate corporations (PRECs) to receive remuneration for their services to their brokerage.
    CanadaTax
    Pallett Valo LLP
    Pallett Valo LLP
  • Article

    Investment Banking Fees For Advising On Takeover Bid Deductible

    The Tax Court of Canada has decided that fees paid by a bidder to investment bankers for advice that assists the bidder in assessing whether or not a bid should be made are fully deductible.
    CanadaTax
    Cassels
    Cassels
  • Article

    IRS Says USMCA = NAFTA For Tax Treaty Purposes

    On May 19, 2020, the IRS released long-awaited guidance providing comfort to taxpayers that the imminent replacement of NAFTA by the USMCA would generally not jeopardize a taxpayer's ability to rely on U.S. income tax treaty benefits.
    CanadaTax
    Osler, Hoskin & Harcourt LLP
    Osler, Hoskin & Harcourt LLP
  • Article

    Legislation To Formally Repeal The Canadian DST Introduced

    The federal government has introduced legislation to implement the rescission of the Digital Services Tax Act ("DST"). The DST was a gross revenue tax or transaction tax targeted...
    CanadaTax
    Gowling WLG
    Gowling WLG
  • Article

    Loans To Employees Can Be Too Good To Be True

    Although loans between shareholders and their companies might be common, a recent Tax Court of Canada case shows that they can have hidden tax costs.
    CanadaTax
    DLA Piper
    DLA Piper
  • Article

    Michael Goldberg Quoted In "A 93% Tax Rate? Private Corporation Tax Could Make It Possible"

    Tax lawyer Michael Goldberg was quoted in "A 93% tax rate? Private corporation tax could make it possible" on why he thinks the proposed changes to the Income Tax Act will likely have a huge and unfortunate impact...
    CanadaTax
    Minden Gross LLP
    Minden Gross LLP
  • Article

    Minister Of Finance Announces Proposed Changes To The Foreign Accrual Property Income Rules Applicable To Canadian Banks

    On November 27, 2012, the Minister of Finance (Canada) released draft legislative proposals relating to the income tax rules that apply to Canadian banks with foreign affiliates.
    CanadaTax
    Fasken
    Fasken
  • Article

    Misrepresentation Of Business Expenses Exposes Taxpayer To Reassessment Beyond Normal Reassessment Period

    Following a reassessment raised on November 19, 2018, the defendant (Taxpayer) was denied business expenses claimed for his 2013 ($6,104), 2014 ($4,246) and 2015 ($3,929) taxation years
    CanadaTax
    Borden Ladner Gervais LLP
    Borden Ladner Gervais LLP
  • Article

    Missing CRA Prescribed Form T2200 - Employment Expenses

    When claiming employment expenses, an employee must ensure form T2200 is completed and signed by the employer. The T2200, a prescribed form pursuant to subsection 8(10) of...
    CanadaTax
    SpenceDrake Tax Law
    SpenceDrake Tax Law
  • Article

    MT Federal Budget Review - Previously Announced Measures

    The Budget confirms the Federal Government's intention to proceed with the following previously announced tax and related measures, as modified to take into account consultations and deliberations since their announcement or release:
    CanadaTax
    Miller Thomson
    Miller Thomson
  • Article

    New "Affordable" Housing Definitions Proposed For Development Charge Exemptions

    On September 28, 2023, the Minister of Municipal Affairs and Housing introduced Bill 134, Affordable Homes and Good Jobs Act, 2023.
    CanadaTax
    Dentons Canada LLP
    Dentons Canada LLP
  • Article

    New Developments Regarding The Application Of Registered Plan Advantage Rules

    Recent developments regarding taxes on investments placed in registered plans provide further guidance on the ways in which taxpayers can and cannot use these accounts to invest
    CanadaTax
    Borden Ladner Gervais LLP
    Borden Ladner Gervais LLP
  • Article

    New Rules For Tax Treatment Of Employee Stock Options

    The new Liberal government's tax policy focusses on relieving the tax burden on the middle-class and increasing taxation generally for those earning more than $200,000.
    CanadaTax
    Lawson Lundell LLP
    Lawson Lundell LLP
  • Article

    News Alert – Finance Releases Proposed Legislative Changes To Political Activities Rules

    On Sept 14, 2018, the Department of Finance released draft legislation proposing amendments to the provisions in the Income Tax Act (Canada) (the "Act")
    CanadaTax
    Miller Thomson
    Miller Thomson
  • Article

    Non-Resident Private Equity Investors And Management Fees - Some Canadian Tax Considerations

    Typically in the case where a non-resident private equity group (Non-Resident Group) acquires a Canadian target (Canco), the Non-Resident Group provides management services to Canco...
    CanadaTax
    Cassels
    Cassels
  • Article

    Nova Scotia Announces Increases To The Nova Scotia Film Industry Tax Credit

    On March 8, 2005, Nova Scotia Premier John Hamm announced that the Nova Scotia Government has extended the province’s film tax credit for an additional ten years. The Government also announced that it is increasing the tax credit as follows:
    CanadaTax
    Goodmans LLP
    Goodmans LLP
  • Article

    Number Of Voluntary Disclosures Continues To Increase

    Last week, the Canada Revenue Agency (the "CRA") issued its annual report to Parliament. Among other matters, the CRA reported on the performance of its Voluntary Disclosures Program (the "VDP").
    CanadaTax
    McMillan LLP
    McMillan LLP
  • Showing 641–660 of 5654 results

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