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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
Services de conseils fiscaux
Defer Old Age Security to Avoid Clawback
If you are still earning substantial income and are either approaching 65 or have been collecting Old Age Security (OAS) for fewer than six months, a change in the law may be of interest to you.
11 sept. 2013
Transfrontalière et internationale Services de conseils fiscaux
U.S. Transfer Certificates: Unexpected Delays in Distributing Canadian Estates
Though much has been written in connection with the U.S. estate and gift tax regime and the varying effects on Canadians, the requirement to obtain transfer certificates from the Internal Revenue Service (IRS) is often overlooked or unanticipated.
23 août 2013
Transfrontalière et internationale Services de conseils fiscaux
U.S. Real Estate Issues
The U.S. real estate recovery is underway and approximately 40% of recent existing home sales have occurred in the southern United States.[1] Many Canadians have played a role in this recovery by purchasing U.S. property, either for personal use, rental use, or both. For these Canadians, there are several U.S. tax matters to consider, including obtaining an Individual Taxpayer Identification Number (ITIN), properly filing required U.S. tax returns, and applying for a withholding certificate.
23 août 2013
Services de conseils fiscaux
Income Tax Filings: On Time or In Time
Canadian taxpayers will face negative consequences if their income tax returns are not filed on time by the due date. In addition, they face other, different negative consequences when returns are filed after the due date but not in time to obtain a refund. This article discusses those consequences.
23 août 2013
Services de conseils fiscaux
Reduce Your Family Taxes with a Prescribed Rate Loan
Are you in a higher tax bracket than your spouse? Do you earn investment income from a non-registered account? If so, a prescribed rate loan can provide you with a method of income splitting that will reduce your taxes.
26 juill. 2013
Maintaining a pure farm corporation
<p>One area that many incorporated farm operations commonly overlook is the eligibility of their corporation&rsquo;s share capital for the $750,000 (now proposed to be $800,000) individual Lifetime Capital Gains Exemption and other certain tax deferrals. The agricultural industry can be plagued by potential hazards, and, unfortunately, a sudden severe injury or death sometimes forces a succession plan earlier than expected.</p>
24 juill. 2013
Services de conseils fiscaux
Personal Service Business – Tax Increase Receives Royal Assent
On June 26, 2013, the changes to the tax treatment of a “personal service business” (“PSB”) received Royal Assent. Effective for taxation years that begin after October 31, 2011, PSB income will be subject to federal corporate tax at the full unreduced rate of 28% (assuming the availability of the 10% provincial abatement).
19 juill. 2013
Technical Bulletin - July 2013
<p>This technical bulletin covers the various developments from April to June 2013. Collins Barrow regularly publishes Technical Bulletin for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.</p>
12 juill. 2013
Technical Bulletin - July 2013 - Part II
PART II: This technical bulletin covers the various developments from April to June 2013. Collins Barrow regularly publishes Technical Bulletin for the general interest of its clients and friends to highlight the continually changing accounting and assurance standards, and the interpretations thereof, in Canada.
12 juill. 2013
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