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Tax
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Audit and accounting
Private enterprise
Tax advisory
Missed opportunities to invest in Canadian business
Heading into the 2019 federal budget, many Canadian businesses were hoping the Liberal government would backpedal on several years of restrictive tax measures. It started when they took office and promised to review the Income Tax Act, eliminating unnecessary tax deductions and credits – but it didn’t stop there.Â
Mar 19, 2019
Business advisory services
Audit and accounting
Private enterprise
Tax advisory
Corporate transparency under the CBCA
Corporate transparency has been pushed to the top of the global agenda throughout the international community. Many countries and international organizations are asking governments to legislate the transparency of corporate ownership to help in the continuing fight against money laundering, terrorist financing, and tax evasion and avoidance.Â
Mar 12, 2019
Audit and accounting
Cross border and international
An official pardon for the GILTI
As an update to our article Planning for IRC 951A: No Reprieve for the GILTI, the IRS has recently released regulations that provide a significant benefit to many US individual taxpayers grappling with the new GILTI regime.
Todd King
Mar 7, 2019
Audit and accounting
Tax advisory
Will the Liberals embark on the right path to tax reform?
CPA Canada and other organizations have been actively consulting with the Department of Finance and Canada Revenue Agency on various technical issues and red tape that currently exist within the Income Tax Act.
Mar 6, 2019
Business advisory services
Audit and accounting
Private enterprise
Tax advisory
Will the federal government lower corporate tax rates?
If you did not associate the buzz words “competitive advantage” with the federal government and tax policy before, it is hard to ignore now.
Feb 28, 2019
Dispute, mediation and conflict resolution
Succession and estate planning
When Cash is not King?
Most people keep their cash in bank accounts. However, to my surprise, some people still don't, and for estate planning and administration purposes, this can be a real problem.Â
Steven Frye
Feb 26, 2019
Business advisory services
Audit and accounting
Private enterprise
Tax advisory
Surplus stripping: Will it survive the budget?
The Department of Finance’s stance on the conversion of dividends into capital gains is well-known. On July 18, 2017, it released “Tax Planning Using Private Corporations..."
Feb 21, 2019
Audit and accounting
Private enterprise
Tax advisory
Multiple Will Planning Still Valid
In our October 2018 Tax Flash, we discussed the decision of the Ontario Superior Court in the case of Re Milne ONSC4147.Â
Sarah Netley
Feb 12, 2019
Tax advisory
Estate applied to have filings made by taxpayer lacking mental capacity set aside
In <em>Ntakos Estate v. The Queen, </em>2018 TCC 224, a family businesss was owned by the deceased taxpayer, Anna (after her husband passed away in 1995) with two brothers-in-law through a holding corporation.
Steven Frye
Feb 12, 2019
Audit and accounting
Private enterprise
Tax advisory
Income from farm partnership: computation and reporting by individuals
Farm partnership tends to be the preferred choice of operating arrangement for many farm operators that stop acting as sole proprietors. Many of these farm partnerships are operated by immediate family members. As we head into the individual income tax filing season, it is the ideal time to refresh some of the key principles on computation and reporting of farm partnership income by individuals.
Feb 7, 2019
Audit and accounting
Indirect tax
Tax advisory
Proposals address tax recovery on excess payments
Department of Finance introduced draft legislation on January 15, 2019 in response to errors made by the Phoenix payroll System regarding overpayments to public service employees. Although this legislative response was to deal with the aftermath of the Phoenix System, the proposal applies to both the public and private sector.
Jan 31, 2019
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