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Tax advisory
Technical Bulletin - April 2015 Part 1
Part One: <span class="post-content">This technical bulletin covers the various developments from January to March 2015. 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.</span>
Apr 10, 2015
Technical bulletin
Tax advisory
Technical Bulletin - April 2015 Part 2
<span class="post-content">PART TWO: <span class="post-content">This technical bulletin covers the various developments from January to March 2015. 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.</span></span>
Apr 10, 2015
Technical bulletin
Tax advisory
Keeping advantages afloat: A tax break guide for small business owners
Canadian-controlled private corporations (CCPCs) earning business income can enjoy significant tax advantages. The federal and provincial governments have incentives for small business owners to reinvest profits for expansion, job creation and investment. Read on to discover the tax advantages benefitting small businesses to minimize your tax burden. 
Mar 31, 2015
Publications-Keeping advantages afloat: A tax break guide for small business owners
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Time's up! A guide to changes in the testamentary trust legislation
Planning your estate? The federal government has passed new legislation that could have a dramatic impact on how your estate is taxed. Effective January 2016, amendments to the testamentary trust legislation will tax beneficiaries at the top marginal rate, eliminating the ability to use the graduated rates to help reduce the overall tax burden. Read on to discover if or how these changes will affect you.
Sarah Netley Mar 30, 2015
Publications-Time’s up! A guide to changes in the testamentary trust legislation
Border patrol: A tax guide to reporting your foreign financial accounts
<div> U.S. persons with a financial interest in or signature authority over financial accounts maintained outside of the U.S. must fill out a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), or face penalties from the IRS.  Read on to learn more about the FBAR filing requirements. </div>
Mar 25, 2015
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Tax advisory
The Testamentary Trust Amendments
Despite many concerns and questions raised by the tax community, the revisions to the testamentary trust legislation received royal assent on December 16, 2014. As indicated in the November 25, 2014, <em>Tax Alert</em> “Tax Changes for Testamentary Trusts,” testamentary trusts are now subject to top marginal tax rates unless they qualify as either a graduated rate estate (GRE) or a qualified disability trust (QDT).
Sarah Netley Mar 17, 2015
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Case Study: Temporary Assignment of an Employee from Canada to the United States
This article is the first in a series of four parts that will examine the Canadian and U.S. income tax implications when an employee employed by a Canadian entity is assigned temporarily to work in the U.S. This first article focuses on the importance of the determination of “residency” for personal income tax purposes.
Mike Hayward Mar 5, 2015
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The Five “W’s” of the Report of Foreign Bank and Financial Accounts (FBAR)
The U.S. <em>Bank Secrecy Act</em> (BSA), passed by Congress in 1970, gave the Department of Treasury the authority to collect information from U.S. persons having a financial interest in or signature authority over financial accounts maintained with financial institutions located outside of the U.S. This provision of the BSA requires that a FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR) be filed if the aggregate maximum values of the foreign financial accounts exceed $10,000
Mar 5, 2015
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Looking to Multiply Capital Gains Exemptions? Think Twice.
In the recent decision <em>Gervais v. R.</em>, the Tax Court of Canada denied a taxpayer’s attempt to multiply the capital gains exemption with his spouse. Mr. Gervais owned shares, worth approximately $2,000,000, of a family owned business. In contemplation of a sale, Mr. Gervais carried out a series of transactions seeking to use his own capital gains exemption <em>and</em> his spouse’s capital gains exemption. His strategy involved three steps:
Feb 26, 2015
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Planning for the Unexpected
A well thought out formal plan for transferring the ownership of a family farm sets out how you will do it on your terms.  However, what happens in the case of premature death or a severe disability that incapacitates you and you are no longer capable of making decisions?
Peter Hobb Jan 27, 2015
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Closing up shop
When it comes to administering a deceased’s estate, it’s common and sometimes necessary for a friend or relative to be appointed the executor, but not many are aware of the proper steps to take for tax filing obligations. Read on to learn the essential requirements that need to be met.
Jan 27, 2015
Publications-Closing up shop
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