Mondaq Canada: Tax
Minden Gross LLP
The month of May can be a wonderful time. Spring is in full force, and tax time is over. Many of you will have received your Notice of Assessment in the mail, neatly contained in a thin brown envelope.
Minden Gross LLP
The beginning of 2016 was a rough start for investors as the markets tumbled in part due to China and now the low oil prices aren't helping matters.
Minden Gross LLP
It feels as if spring is around the corner which means that summer is not too far off. And with thoughts of warmer weather comes thoughts of spending summer days on a lake somewhere. If you are in the...
Minden Gross LLP
In last month's article, I noted that family trusts only have a tax life span of 21 years, as they are deemed to have sold all of their assets on each 21st anniversary.
Rotfleisch & Samulovitch P.C.
These medal payments are not an exception and will have to be reported on the athlete's 2016 tax returns when they are filed by April 30, 2017.
Norton Rose Fulbright Canada LLP
The date for implementing these measures is January 1, 2017.
Stikeman Elliott LLP
On July 29, 2016, the Department of Finance Canada released for public comment a package of draft legislative proposals and explanatory notes relating to a number of measures announced in the 2016 federal budget.
Miller Thomson LLP
On June 3, 2016, the Supreme Court of Canada released two important decisions dealing with requests made by the Canada Revenue Agency ("CRA") for information. The cases highlight the fact that when an...
Gowling WLG
Certain derivatives held on income account have been treated as inventory for tax purposes, thereby allowing the deduction of unrealized losses on such derivatives.
Gowling WLG
General provisions in the ITA applicable to corporations and their shareholders provide that, in certain circumstances, an exchange of shares of a corporation by a taxpayer is deemed not to be...
Gowling WLG
This is article is part of a series dealing with draft legislation released for comment by the Department of Finance on July 29th.
Collins Barrow National Incorporated
If you are a Canadian planning to work abroad, you need to find out whether your residency will change, because if it does, it may affect your Canadian tax burden.
Davies Ward Phillips & Vineberg
Originally published in Tax Notes International, this article examines The Tax Court of Canada's CIT judgment, as well as two pending companion cases, sheds light on how the simple notion underlying controlled foreign corporation attribution rules— that CFCs' undistributed passive income should be taxed as earned — can evolve into complex, mechanical, and sometimes convoluted rules.
Dentons
Tax professionals who advise clients on judicial review of the CRA's discretionary decisions should monitor developments in the standard of review of the Supreme Court of Canada's decision in Wilson v Atomic Energy of Canada Ltd.
Rotfleisch & Samulovitch P.C.
Various provisions of the Income Tax Act (the "Act") allow corporations to claim tax credits.
Dentons
At a recent STEP conference roundtable, the CRA stated that, from January 2014 to April 2016, the CRA had received 2,984 calls (812 of which were from potential informants) and 333 written submissions.
Gowling WLG
The Québec Budget tabled on March 17, 2016, (the "Budget") announces significant changes to the regime governing the duties on the transfer of real property (immovables) in Québec.
Osler, Hoskin & Harcourt LLP
The drop shipment rules found in section 179 of the Excise Tax Act essentially allow an unregistered non-resident person to acquire goods in Canada, or commercial services in respect of goods...
Osler, Hoskin & Harcourt LLP
On July 22, 2016 (the Announcement Date), the Department of Finance released a package of draft legislative amendments that includes proposed changes to the existing GST/HST rules...
LexSage
Recently, I was contacted by a small business owner who had an unpleasant conversation with a CRA collections officer about an outstanding GST/HST assessment against his small company (of which he was a director).
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Collins Barrow National Incorporated
Life insurance rules have remained relatively intact since 1982, but that's about to change. Starting January 1, 2017, new income tax legislation will come into effect.
Alexander Holburn Beaudin + Lang LLP
On July 25, 2016, the B.C. government announced that it is implementing a new property transfer tax applicable to foreign buyers of residential properties.
Lawson Lundell LLP
The provincial government's new 15 per cent tax on foreign purchasers of residential property is the talk of the town in Metro Vancouver.
Borden Ladner Gervais LLP
Financial institutions are besieged by requests to release the assets of deceased people without a probated Will.
Borden Ladner Gervais LLP
In February of this year we issued a number of bulletins describing legislative changes coming into force in 2016 which will have a significant impact on estate planning.
McMillan LLP
Individuals and families whose tax plans include trusts should take note of the recent decision of the Supreme Court of Newfoundland and Labrador in Discovery Trust v Minister of National Revenue ("Discovery Trust").
Minden Gross LLP
You might think that giving generous gifts of property or other assets to family members would be fairly cut-and-dried affair.
Moodys Gartner Tax Law LLP
Proposed amendments to the Income Tax Act introduced in the 2016 Federal Budget will significantly alter the Small Business Deduction (SBD) scheme for taxation years that begin following March 21, 2016.
McCarthy Tétrault LLP
The government of British Columbia announced that foreigners who buy residential property in the Vancouver area will have to pay an extra 15% on top of the current property transfer tax.
Siskinds LLP
The ARB concluded that similar to a nursing home licence, the ECA is a form of government control that runs with the land and is not an encumbrance upon it.
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