Mondaq Canada: Tax
Stikeman Elliott LLP
A seismic change in the international private wealth arena is under way.
Davies Ward Phillips & Vineberg
This article deals with the manner in which Canada has complicated, and rendered controversial, what in most other countries is straightforward — the deductibility of business related interest expense.
Gowling Lafleur Henderson LLP
In recent years, the popularity of the Canada Revenue Agency's voluntary disclosures program – which enables taxpayers to correct any mistakes or omissions in their previous tax filings – has ballooned.
Collins Barrow National Incorporated
Crowdfunding is an increasingly popular way to raise funds for projects. But what does this mean for taxpayers when they report their income to Canada Revenue Agency (CRA)? Our experts break down the tax implications of raising funds publically online.
Borden Ladner Gervais LLP
Companies required to prepare financial statements are typically obligated to estimate and take reserves for potential exposures, including any uncertain tax position (UTP) that might successfully be challenged by tax authorities.
Dentons (Canada)
The CRA recently provided its views on whether digital currency, including Bitcoins, are considered "specified foreign property" under the foreign property reporting rules in section 233.3 of the Income Tax Act.
Minden Gross LLP
Most of you will have already filed your tax return and received your Notice of Assessment— and are now sitting back for another year of not worrying about your taxes.
Dentons (Canada)
The Tax Court's approach to cost awards has evolved significantly in recent years.
MNP
Effective July 01, 2015, this date marks the beginning in the gradual reduction in Recaptured Input Tax Credits (RITC) requirements for large business with annual sales greater than $10 million...
McMillan LLP
Generally, "large businesses"1 are subject to the ITC recapture of the OHST portion paid on expenses relating to the acquisition of ...
Dentons (Canada)
In McNally v. Canada (National Revenue) (2015 FC 767), the taxpayer brought an application to the Federal Court for an order requiring the Minister to assess his tax return.
Grant Thornton
Canadian residents who are neither citizens, nor residents, of the United States can be subject to US estate tax?
Moodys Gartner Tax Law LLP
As many of our readers know, the Canadian Income Tax Act (the "Act") provides for an unlimited exemption from the imposition of Canadian income tax on the gains resulting from a disposition of a "principal residence".
McCarthy Tétrault LLP
The ultimate tax liability of the employee will not be affected if the employee is not, in fact, entitled to treaty benefits in respect of the remuneration.
McCarthy Tétrault LLP
According to the Department of Finance, certain taxpayers were quick to identify deficiencies in paragraphs 95(2)(a.21) and (a.22).
McCarthy Tétrault LLP
Treaty shopping has received a great deal of attention in Canada in recent years.
Kestenberg Rabinowicz Partners LLP
The requirement for certain large businesses to recapture the provincial portion of Ontario HST claimed as Input Tax Credits (ITCs) in respect of specified property and services will be phased out, starting July 1, 2015.
MNP
Before 2015, the election did not have to be filed with the Canada Revenue Agency (CRA); rather, it had to be kept on file in case the CRA wanted to see it.
Crowe Soberman LLP
Significant changes have been made to the taxation of trusts and estates that may have a major impact on your tax and estate planning. This bulletin highlights the main tax planning considerations now required to deal with these recent changes.
MNP
On June 24, 2015, the World Customs Organization (WCO) published the WCO Guide to Customs Valuation and Transfer Pricing (the Guide).
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McMillan LLP
As widely predicted, Budget 2015 proposes to reduce the amount that annuitants are required to withdraw from a Registered Retirement Income Fund ("RRIF") in 2015 and subsequent taxation years.
Moodys Gartner Tax Law LLP
Why would a country with a seven to ten year wait list to acquire citizenship have so many citizens headed for the exit?
Moodys Gartner Tax Law LLP
For better or worse, on June 18, 2015, Alberta's newly elected NDP provincial government released Bill 2, which immediately received First Reading in the Legislature and passed.
Collins Barrow National Incorporated
On July 1, 2014, a Canada/U.S. intergovernmental agreement (IA) came into effect requiring financial institutions in Canada to begin identifying "U.S. person" account holders (for example, U.S. citizens and U.S. residents) for the purposes of disclosing specific information to the U.S. Internal Revenue Service.
Blaney McMurtry LLP
Anyone with a will that creates a spousal trust, therefore, is strongly advised to review it, and the reasons for it, to make sure that it does not create new, unanticipated and unintended implications.
Crowe Soberman LLP
Significant changes have been made to the taxation of trusts and estates that may have a major impact on your tax and estate planning. This bulletin highlights the main tax planning considerations now required to deal with these recent changes.
Minden Gross LLP
Family trusts can be a highly effective tax-planning tool. But you have to be sure to dot your i's and cross your t's to avoid the unwanted attention of the Canada Revenue Agency, as I spelled out in a previous article.
Lawson Lundell LLP
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).
MNP
Before 2015, the election did not have to be filed with the Canada Revenue Agency (CRA); rather, it had to be kept on file in case the CRA wanted to see it.
Gowling Lafleur Henderson LLP
The Canadian tax regime generally allows for the deductibility of interest on borrowed money or indebtedness incurred for the purposes of earning income from a business or property.
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