Fund managers and insurance companies may soon need to change their systems and processes for upcoming GST/HST and QST changes.
As 2012 draws to an end, many corporations’ tax directors and pension plan administrators must once again review their obligations and options under the GST/HST and QST pension plan rules.
The Department of Finance has released long-awaited tax rules affecting foreign affiliate members of Canadian corporate groups.
Financial institutions and other businesses operating in Quebec will have to change many of their systems and processes to prepare for amendments to the Quebec Sales Tax (QST) effective January 1, 2013.
The federal government recently tabled two major tax bills in the House of Commons containing more than 1,300 pages of tax amendments.
Earlier today, Quebec Minister of Finance and the Economy, Nicolas Marceau, tabled the Quebec provincial budget for 2013-2014.
As another year draws to a close, many Canadians are looking for ways to improve their financial well-being.
The CRA’s 2011-12 Mutual Agreement Procedure Program Report shows that interest in the program continues to be strong.
Home builders in British Columbia have to comply with new disclosure requirements related to B.C.’s transition from the HST back to the GST and a new PST.
Complying with all your business’ indirect tax filing obligations may become more complicated and time-consuming in the coming months.
If your company claims tax credits for Scientific Research and Experimental Development (SR&ED), you may be affected by changes to this program coming as soon as January 1, 2013.
Canadian taxpayers who conduct cross-border transactions with related parties have been eagerly awaiting today’s decision by the Supreme Court of Canada (SCC) in the transfer pricing case The Queen v. GlaxoSmithKline Inc.
The Department of Finance has released draft legislation that includes revised foreign affiliate (FA) dumping proposals originally introduced in its 2012 federal budget tax measures.
If you are involved in preparing financial reports for corporations or other organizations, certain 2012 tax changes may need to be reflected in your interim period financial statements under IFRS and U.S. GAAP.
If your company sells goods to a related company into the U.S., you may now be able to recover U.S. duty paid if the price of the goods is reduced due to a transfer pricing adjustment.
Managers of investment plans will need to take into account upcoming GST/HST changes in several provinces when calculating their 2013 “blended rates” on their management fees.
Canadian corporations that owe debt to certain non-residents need to carefully review the impact of the major modifications to Canada’s “thin capitalization” regime announced in the 2012 federal budget.
Even though 2012 is almost over, many tax planning opportunities are still available before the year ends.
Businesses across Canada have had to cope with a flood of indirect tax changes over the last few years, requiring significant changes to their systems and processes.
Yesterday the British Columbia government introduced legislation (the Provincial Sales Tax Act – PST Act) to implement the new PST effective April 1, 2013.
Companies in the real estate industry with interests in partnerships may be affected by tax changes announced in the 2012 federal budget.
Does your corporate group include holding companies? If so, have you considered whether these holding companies have an opportunity to claim input tax credits (ITCs) on some of their expenses to reduce your group’s overall GST/HST costs?
The Supreme Court of Canada ruled that the City of Calgary was not entitled to input tax credits for GST paid in the development of its public transit facilities.
Newfoundland and Labrador’s Finance Minister tabled the province’s 2012 budget on April 24, 2012. The budget forecasts a surplus of $776.4 million for 2011-12 and projects deficits of $258.4 million for 2012-13 and $432.9 million for 2013-14.
Manitoba’s Finance Minister Stan Struthers tabled the province’s 2012 budget on April 17, 2012. The budget forecasts a deficit of $1 billion for 2011-12 and projects a deficit of $460 million for 2012-13.
Canadian businesses that have had their transfer prices adjusted by the CRA may face higher withholding tax liabilities.
The Supreme Court of Canada (SCC) today released its unanimous decision in a case involving how a trust’s residency for tax purposes should be determined.
Today Nova Scotia Finance Minister Graham Steele delivered the province’s 2012 budget. The budget projects deficits of $390 million in 2011-12 and $211 million in 2012-13, and surpluses of $15 million in 2013-14 and $20 million in 2014-15.
Finance Minister Jim Flaherty delivered the government’s much-anticipated 2012 federal budget today.
Today Ontario Minister of Finance Dwight Duncan delivered the province’s 2012 budget. The budget forecasts a deficit of $15.2 billion for 2012-13, $13.3 billion for 2013-14 and $10.7 billion for 2014-15. The budget is expected to be balanced in 2017-18.
Today New Brunswick Finance Minister Blaine Higgs delivered the province’s 2012 budget.The budget projects a deficit of $183 million in 2012-13, a deficit of $99 million in 2013-14 and a balanced budget by 2014-15 ($6 million surplus).
Today Saskatchewan Finance Minister Ken Krawetz delivered the province’s 2012 budget. The budget anticipates a surplus of $14.8 million for 2012-13.
Quebec Minister of Finance and Minister of Revenue, Mr. Raymond Bachand, tabled the Quebec provincial budget for 2012-2013 earlier today.
Finance Minister Jim Flaherty will deliver the Conservative government’s 2012 federal budget on March 29, 2012.
Many companies that do (R&D) in Canada benefit from government programs that provide funding and tax incentives to encourage and support their work.
Today British Columbia Finance Minister Kevin Falcon delivered the province’s 2012 budget.
The British Columbia and federal governments today announced transitional measures for the province’s return to provincial sales tax (PST) and goods and services tax (GST) from harmonized sales tax (HST).
With the February 29, 2012 deadline for 2011 tax-deductible RRSP contributions coming up soon, now is a good time to weigh the advantages of tax-assisted savings plan options that may be available to you.
Alberta Finance Minister Ron Liepert delivered the province’s 2012 budget on February 9, 2012.
If your real estate company is involved in any partnership in which it has a significant interest or any joint venture project, it may be affected by new rules that limit the tax deferral opportunities...
If you are involved in preparing financial reports for corporations or other organizations, certain 2011 tax changes may need to be reflected in your year-end financial statements under IFRS and U.S. GAAP.
Many large corporations in industries such as construction, retailing and manufacturing may be surprised to learn that they are considered financial institutions (FI) under the GST/HST rules.
The Supreme Court of Canada recently rendered its long-awaited decision in Copthorne Holdings Ltd. V. R., 2011 SCC 63.