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Impôts indirects Services de conseils fiscaux
GST/HST relief for hospital parking? Maybe!
<p>On January 24, 2014, the Department of Finance released draft legislation to provide a GST/HST exemption for public hospitals providing parking primarily for the use of their patients and visitors, effective immediately. The government stated: &ldquo;Hospitals are encouraged to pass on the savings.&rdquo; It will remain to be seen if hospitals do pass these savings on to the public.</p>
3 févr. 2014
Services de conseils fiscaux
What you need to know about U.S. taxation
Spending the winter down south? Collins Barrow&rsquo;s U.S. taxation infographic shares some key information that you need to know.
24 janv. 2014
Services de conseils fiscaux
Tax Savings Opportunity: Prescribed Interest Rates Decrease Back to 1%
On December 13, 2013 the Canada Revenue Agency announced that the prescribed annual interest rate will be reduced back to 1% for the period from January 1, 2014 to March 31, 2014.
18 déc. 2013
Transfrontalière et internationale Services de conseils fiscaux
Mandatory FBAR E-filing
The U.S. Foreign Bank and Financial Accounts form (FBAR) has garnered much attention in recent years due to the enormous potential penalties associated with filing the form late. The FBAR has also been a target of the IRS. In 2009, then Commissioner of the IRS, Douglas Shulman, stated, “If you are a U.S. individual holding overseas assets, you must report and pay your taxes or we will be increasingly focused on finding you.”
5 déc. 2013
Transfrontalière et internationale Services de conseils fiscaux
Snowbirds and the Closer Connection Exception
Fall is the time of year when Canadian snowbirds pack up and head south for the warmer winter in the U.S. Some limit their stay to a maximum of 182 days, under the mistaken belief that this will avoid being considered a resident of the U.S. for income tax purposes (and conveniently brings them home just in time for spring). Many do not realize that the U.S. residency rules for income tax purposes involve a much shorter time period.
Shelley Smith 5 déc. 2013
Services de conseils fiscaux
Changes to the Taxation of Restrictive Covenants
Recent legislative changes contained in Bill C-48, which received Royal Assent on June 26, 2013, provide that any amount received or receivable by a taxpayer in respect of a restrictive covenant will be treated as ordinary income for income tax purposes unless specific exceptions apply. These legislative changes are retroactive to October 7, 2003.
Aaron Wright 5 déc. 2013
Services de conseils fiscaux
2013 Year-End Tax Planner: Looking Back to 2013 and Forward to 2014
It’s the most wonderful time of the year! That’s right, time to start your year-end tax planning so any strategies that need to be implemented before key dates in order to be effective can be successfully launched.
29 nov. 2013
Services de conseils fiscaux
Ontario Increases Non-Eligible Dividend Tax Rate
On November 7, 2013, Ontario’s Finance Minister announced proposed measures which if enacted will ultimately increase the tax on non-eligible dividends. This will be achieved by maintaining the non-eligible dividend tax credit rate of 4.5% and then calculating the Ontario surtax on higher income earners before the application of dividend tax credits (currently, the surtax is applied after deducting certain non-refundable credits including dividend tax credits).
15 nov. 2013
Services de conseils fiscaux
How Corporate Shareholdings Can Affect EI Benefits
Most Canadian employees have at least a general understanding of employment insurance (EI) benefits. Employees pay into employment insurance with each paycheque and can claim EI benefits if they lose their jobs. Most are aware also that any employment or self-employment income earned while collecting EI benefits can reduce or even eliminate the benefits.
8 oct. 2013
Transfrontalière et internationale Services de conseils fiscaux
New Foreign Property Reporting Requirements
Some recent changes to the foreign property reporting requirements for Canadian taxpayers can increase the reporting obligations on those who invest actively outside Canada.
19 sept. 2013
Services de conseils fiscaux
Tax Savings Opportunity: Lock In Family Loans by September 30
On October 1, 2013, the Canada Revenue Agency’s prescribed rate of interest will increase for the first time in over four years, from 1% to 2%. The current low interest rate of 1% offers significant tax savings opportunities for income-splitting loan arrangements with family members.
11 sept. 2013
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