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Indirect tax Tax advisory
Voluntary Disclosures
This article provides information about the Voluntary Disclosure Program (VDP) administered by the Canada Revenue Agency (CRA). The VDP encourages taxpayers to come forward voluntarily to declare information that may not have been previously reported. It may be used to divulge unreported or underreported financial information. Use of this provision provides defense against penalty and prosecution.
Apr 29, 2014
Indirect tax Tax advisory
FI, LFI, SLFI and SAM: What Do They Mean and What Can They Cause
Revenue is a good thing; we are always looking for ways to increase it. But in the GST/HST world, dividend and interest revenue can reduce income in addition to causing huge compliance costs and issues. This can come as an unwelcome surprise to many taxpayers.
Apr 29, 2014
Indirect tax Tax advisory
Oh! Taxman, what big teeth you have!
Today, no one seems to doubt the existence of tax havens. But tax hell... does it exist? Based on the testimony of taxpayers and tax practitioners, one might wonder. Reports of abuse and misconduct by the tax authorities seem increasingly common.
Mar 5, 2014
Cross border and international Indirect tax Tax advisory
2014 Federal Budget Commentary: "The Road to Balance: Creating Jobs and Opportunities"
The Honourable Jim Flaherty, Minister of Finance, today tabled Canada’s Economic Action Plan 2014, a budget which confirms that the Government is on track to return to balanced budgets in 2015, with new measures that will create jobs and opportunities in an uncertain global economy and no new taxes on Canadian families or businesses.
Feb 11, 2014
Indirect tax Tax advisory
Providing services to a non-resident? Prove it!
This article is to shed light on the age-old question – are the services I am providing to a non-resident exempt from tax or not? As is true of most questions relating to sales tax implications, there is no clear-cut answer. To answer this question, you need to contemplate several other questions first.
Feb 3, 2014
Indirect tax Tax advisory
GST/HST relief for hospital parking? Maybe!
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: “Hospitals are encouraged to pass on the savings.” It will remain to be seen if hospitals do pass these savings on to the public.
Feb 3, 2014
Indirect tax Tax advisory
Best Practices: Indirect Sales Tax Overpayment and Exposure Analysis
At Collins Barrow, we strive to bring extra value to our clients. To that end, we can provide an indirect sales tax overpayment and exposure analysis. This is a specialty tax service above and beyond the thorough general audit process typically provided.
Jul 5, 2013
Indirect tax Tax advisory
Get the Credit You Deserve: Document Your Credit and Debit Notes
In light of the many recent changes and proposed changes to provincial and federal sales taxes, it is worth reviewing how your credit and debit note processes function. At Collins Barrow, we have encountered two situations that demonstrate how “incorrectly” processed credit notes can have a substantial effect on your bottom line.
Jul 5, 2013
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