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Audit and accounting Private enterprise Tax advisory
Changes proposed to taxation of private corporations and their shareholders
On July 18, 2017, the federal government of Canada introduced proposals (“announcements”) curtailing the use of private corporations to gain tax advantages over other individuals in Canada who do not utilize such corporations. The proposals were positioned by the government as measures to ensure that the wealthy pay their fair share and the Canadian tax system is applied in a manner that is fair for all Canadians. If enacted as introduced, these proposals represent arguably the most significant changes to the taxation of private corporations in over 40 years. 
Bill Crowther Nov 22, 2017
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Audit and accounting Private enterprise Tax advisory
Post-mortem planning: reprieve for the pipeline?
When individuals die, they are deemed to have disposed of all of their assets at fair market value at the time of death. This deemed disposition applies to capital property such as vacation properties, rental properties and shares of public and private corporations. An exception to this rule applies where there is a surviving spouse, in which case the assets may be transferred to the surviving spouse with no tax consequences. If there is no surviving spouse, any income resulting from the deemed dispositions is included in a final tax return filed on behalf of the deceased. 
Oct 31, 2017
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Private enterprise
Infographic: Keep your business safe from cybercrime
The growth of digital technology has transformed and disrupted the world of business, introducing new possibilities along with an increase in cybercrime. Understanding the different threats that exist and building a robust IT infrastructure are essential to protecting your digital world.
Oct 25, 2017
Publications-Infographic: Keep your business safe from cybercrime
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Corporate finance Transaction services Audit and accounting Private enterprise Tax advisory
Venture Capital concerns are heard
On October 20, 2017, the Department of Finance (“<strong>Finance</strong>”) responded to several concerns raised by the venture capital and angel investor sectors in respect of the proposed taxation of private corporation measures (see CBT’s summary <a href="https://www.collinsbarrow.com/en/toronto-ontario/publications/finance-targets-tax-planning-for-private-corporations" target="_blank">here</a>). 
Oct 20, 2017
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Corporate finance Audit and accounting Private enterprise Tax advisory Succession and estate planning
Proposed changes: Finance takes hard stance on passive income of private corporations
On October 18, 2017, the Department of Finance (“<strong>Finance</strong>”) provided more details on its proposals (see CBT’s summary <a href="https://www.collinsbarrow.com/en/toronto-ontario/publications/finance-targets-tax-planning-for-private-corporations" target="_blank">here</a>) to target the deferral of tax benefits of passive investments within a private corporation.   .
Oct 18, 2017
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Audit and accounting Tax advisory
Infographic: Farm business incorporation
There are several major planning items that need to be considered before and after incorporating a farm business. If you have consulted your Collins Barrow advisor and decided incorporation is right for you, gaining an up-to-date understanding of these issues is the best way to ensure your corporation is set up correctly. This infographic offers a refresher on the most important aspects of incorporation, helping your business devise the most optimal tax strategy.
Thomas Blonde Oct 18, 2017
Publications-Infographic: Farm business incorporation
Audit and accounting Tax advisory
Class 14.1 tax changes for quota in 2017
Farmers and farm corporations in supply management sectors buy and sell quota regularly. While operational and financial considerations rightly drive these transactions, they are sometimes completed without considering the tax implications. Consequently, these transactions can lead to unexpected income tax results. 
Bud Arnold Oct 16, 2017
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Audit and accounting Tax advisory
The ins and outs of the simplified net tax calculation for charities
Canada has more than 170,000 charitable and not-for-profit organizations, 85,000 of which are registered with the Canada Revenue Agency (CRA). For these registered charities, their supply of property and services is often exempt from GST/HST. Charities that also make taxable supplies of property and services are required to collect GST/HST on those supplies where they are GST/HST registrants (i.e. not small suppliers or small suppliers that have chosen to voluntarily register for GST/HST purposes).
Oct 3, 2017
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Audit and accounting International
Republican Framework for U.S. Tax Reform released
On September 27, 2017 the Republican Party released their long anticipated proposal for U.S. tax reform. The key takeaways of the framework have been summarized below. Please contact your local Collins Barrow U.S. tax advisory professional if you have any questions and to find out how these proposals may impact you and your U.S. or cross-border business.
Sep 28, 2017
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Audit and accounting Private enterprise International Tax advisory
U.S. tax pain: Canadian mutual funds and ETFs
From an investment perspective, mutual funds and exchange-traded funds (ETFs) make sense for many Canadians. They allow them to reduce investment risk by diversifying their holdings through exposure to multiple industries and sectors of the economy, without the need to hold many individual stocks and bonds.   
Ralph Neate Sep 27, 2017
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Audit and accounting Private enterprise
Understanding the filing requirements for PFICs and CFCs
U.S. persons (U.S. citizens or green card holders) living in Canada or abroad who have investments outside the U.S. should be aware of the potentially onerous tax filing requirements imposed by the IRS, and how those rules will apply to their investments. IRS rules can be particularly complex when investments in foreign companies or funds earning passive income are involved. This article expands upon the discussion in the companion piece, “<a href="ustaxalert-1-u.s.-tax-pain-canadian-mutual-funds-and-etfs" target="_blank">U.S. tax pain: Canadian mutual funds and ETFs</a>,” in this <em>U.S. Tax Alert</em>. This article digs deeper into the intricacies of the definitions and the filing requirements for PFICs and CFCs.
Jonathan Gehrts Sep 27, 2017
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