http://www.kpmg.com/_layouts/feed.aspx?xsl=1&web=/Ca/en/IssuesAndInsights/RSSFeeds&page=0a86c61b-01af-41cc-894b-54372544d0a5&wp=bd4b780d-91df-45bd-889d-c900d0b61e22RSS feed page for Tax in kpmg Canada60http://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/New Financial Products Anti-Avoidance Rules Cast a Broad Net.aspxFinancial institutions, investment funds and certain general corporations may be affected by targeted tax measures introduced in the 2013 federal budget to address what the government considers “loopholes” in the Canadian tax system.Wed, 22 May 2013 13:26:00 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canadian Seconded Workers in China Can Create a PE.aspxChina's tax authorities have issued guidance on when the cross-border secondment of expatriate workers into China by foreign enterprises may give rise to a taxable presence in China.Wed, 22 May 2013 14:40:16 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Global Transfer Pricing Review - 2013 Edition Now Available.aspxKPMG's 2013 Global Transfer Pricing Review is now available.Wed, 22 May 2013 14:49:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Releases TP Risk Assessment Handbook.aspxA committee of the OECD Global Forum on Transfer Pricing has released a draft Handbook on Transfer Pricing Risk Assessment for discussion.Wed, 22 May 2013 14:46:04 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2014 Tax Hikes on Non-Eligible Dividends Shakes Up Ontario Integration Mechanism.aspxThe proposed federal and Ontario personal tax rate hikes on non-eligible dividends beginning on January 1, 2014 will have an important effect on the Ontario integration mechanism in 2014 and Ontario residents.Wed, 22 May 2013 14:47:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Prescribed Rate Stays at 1 percent for Q3 of 2013.aspxThe CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the third quarter of 2013 (July 1 - September 30) will remain unchanged.Wed, 08 May 2013 13:42:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Quebec Shakes Up Mining Tax Regime.aspxThe Quebec Minister of Finance presented details of Quebec's new mining tax system on May 6, 2013.Wed, 08 May 2013 14:10:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Ontario Budget.aspxToday Ontario Finance Minister Charles Sousa delivered the province’s 2013 budget. The budget anticipates a deficit of $9.8 billion in 2013 and $11.7 billion in 2014.Wed, 22 May 2013 13:04:10 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Selected Listed FIs - Final GST Rules Coming Your Way.aspxThe federal government will publish the long-awaited final GST/HST regulations affecting many financial institutions on May 8, 2013.Mon, 06 May 2013 12:25:37 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Employers — New GST HST Relief Available Under Pension Plan Rules.aspxEmployers and registered pension plans may want to take advantage of two changes to the GST/HST pension plans rules announced in the 2013 federal budget that could reduce some employers' compliance requirements.Tue, 30 Apr 2013 13:19:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Federal Budget Bill 1 Substantively Enacted.aspxFinance released Bill C-60 (Budget Bill #1) on April 29, 2013 to implement certain measures announced in the 2013 federal budget.Tue, 30 Apr 2013 13:23:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2013 P.E.I. Budget Substantively Enacted.aspxA bill to enact Prince Edward Island's 2013 budget received first reading in the provincial legislature on April 23, 2013.Tue, 30 Apr 2013 13:15:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Employers-New GST HST Relief Available Under Pension Plan Rules.aspxEmployers and registered pension plans may want to take advantage of some changes to the GST/HST pension plans rules announced in the recent federal budget.Mon, 06 May 2013 12:29:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2013 Manitoba Budget Raises Sales Tax Rates.aspxManitoba tabled its 2013 budget on April 16, 2013. The budget increases the provincial sales tax rate to 8% (from 7%), starting July 1, 2013.Tue, 23 Apr 2013 15:27:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CAE – FCA Overturns Hybrid Capital Inventory Asset Classification.aspxThe Federal Court of Appeal (FCA) recently made a decision in favour of the taxpayer in CAE Inc. v. The Queen (2013 FCA 92).Tue, 23 Apr 2013 15:30:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Comments on After - Tax Hedging Aggressive Tax Planning.aspxThe OECD's recently released report "Aggressive Tax Planning based on After-Tax Hedging" describes the features of aggressive tax planning schemes based on after-tax hedging as well as strategies used by countries to detect and respond to those schemes.Tue, 23 Apr 2013 15:31:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/EU Financial Institutions Face New Reporting Rules.aspxFinancial institutions in the European Union will soon have to begin country-by-country reporting of tax payments made to governments, and will also have to comply with stronger bank solvency and liquidity requirements and a cap on bankers' bonuses.Wed, 22 May 2013 15:13:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/FIs — Preview FATCA Registration Form.aspxFinancial institutions have an opportunity to review and provide comments on a draft registration-process form for the U.S. Foreign Account Tax Compliance Act (FATCA).Tue, 23 Apr 2013 15:27:49 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Manitoba Budget.aspxToday Manitoba Finance Minister Stan Struthers delivered the province’s 2013 budget.Mon, 06 May 2013 12:32:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/European Countries Agree to Automatic Tax Information Exchange.aspxThe U.K. has announced an agreement with France, Germany, Italy, and Spain to develop and pilot a multilateral tax information exchange process.Tue, 16 Apr 2013 14:35:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs TIEA with Liechtenstein - by Brian Mustard and Raphael Barchichat.aspxThe Department of Finance announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Liechtenstein on January 31, 2013.Tue, 16 Apr 2013 14:33:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Reports 2011 MAP Caseloads on the Rise.aspxThe OECD has released its annual report on the caseloads of all its member countries under the Mutual Agreement Procedure (MAP) for resolving cross-border tax disputes.Tue, 16 Apr 2013 14:30:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Provincial Allocation Now Includes All Taxable Benefits.aspxCompanies that allocate their taxable income to permanent establishments in more than one province may need to change their calculations for their 2013 taxation years.Tue, 16 Apr 2013 13:52:39 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Launches Folio Views — Comments Welcome.aspxThe CRA recently launched its Income Tax Folios publications. This new technical publication product updates information currently found in income tax interpretation bulletins and includes improved web functionality.Tue, 16 Apr 2013 14:06:46 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Nova Scotia Budget.aspxToday Nova Scotia Finance Minister Maureen MacDonald delivered the province’s 2013 budget.Mon, 06 May 2013 12:35:37 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Securities Dealers — Now Time to Deal with GST Changes and Increased Audits.aspxSecurities dealers are in the midst of another round of changes to indirect tax laws and administrative policies.Tue, 09 Apr 2013 14:11:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Don't Miss June 30 European VAT Recovery Deadline.aspxJune 30, 2013 is an important date for Canadian business that may be eligible to recover value-added tax (VAT) paid to many European Union (EU) member countries.Wed, 03 Apr 2013 09:59:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 P.E.I. Budget.aspxPrince Edward Island's Minister of Finance Wesley Sheridan tabled the province's 2013 budget on March 27, 2013.Mon, 06 May 2013 12:36:18 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Newfoundland Budget.aspxToday Newfoundland and Labrador Finance Minister Jerome Kennedy delivered the province’s 2013 budget.Mon, 06 May 2013 12:36:52 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 New Brunswick Budget.aspxToday New Brunswick Finance Minister Blaine Higgs delivered the province’s 2013 budget.Mon, 06 May 2013 12:37:32 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Customs Tax Changes — Review Imports for Duty Reductions.aspxThe 2013 federal budget included several changes to tariffs and other customs measures that may affect taxpayers who import goods into Canada.Wed, 27 Mar 2013 10:40:51 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/U.K.'s 2013 Budget Cuts Corporate Tax Rate.aspxThe United Kingdom delivered its 2013 budget on March 20, 2013.Wed, 27 Mar 2013 10:16:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Resource Industry — Gear Up Now for SEC Tax Reporting.aspxIf your Canadian mining or oil and gas company is registered with the SEC, your company will soon have to start reporting payments it makes to governments in all the countries where it operates.Thu, 25 Apr 2013 11:14:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2013 Federal Budget Highlights.aspxFinance Minister Jim Flaherty delivered the government’s 2013 federal budget today. Mon, 06 May 2013 12:41:06 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Saskatchewan Budget.aspxToday Saskatchewan’s Finance Minister Ken Krawetz delivered the province’s 2013 budget.Mon, 06 May 2013 12:41:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ollenberger-FCAFindsActiveBusinessandAllowsABIL.aspxIn Randy J. Ollenberger v. The Queen (2013 FCA 74), the Federal Court of Appeal (FCA) allowed the taxpayer's appeal to claim an allowable business investment loss (ABIL) of over $300,000 for an uncollectible loan on his 2007 income tax return.Mon, 25 Mar 2013 13:06:10 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2013 Federal Budget to Target “Loopholes”.aspxFinance Minister Jim Flaherty is expected to deliver the Conservative government’s 2013 federal budget on March 21, 2013.Mon, 06 May 2013 12:41:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Recent U.S. Budget Cuts May Result in Cross-Border Shipping Delays.aspxBusiness shipping across the Canada-U.S. border may experience delays due to new U.S. budget cuts.Wed, 27 Mar 2013 10:56:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/India Proposes Corporate Social Responsibility Tax.aspxIndia has proposed a new Companies Bill for all companies meeting prescribed criteria that will require companies to contribute 2% of their average net profits from the previous three years as part of new corporate social responsibility measures.Wed, 27 Mar 2013 10:56:00 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/India's 2013 Budget Highlights.aspxIndia delivered its 2013-14 budget on February 28, 2013.Tue, 23 Apr 2013 15:19:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Personal Services Business Tax Hike Becoming Law - Time for a New Plan.aspxIf you provide your services through a corporation, are you carrying on a personal services business?Mon, 06 May 2013 12:46:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Insurance Companies — Now Time to Deal with GST Changes and Increased Audits.aspxInsurance companies are in the midst of another round of changes to indirect tax laws and administrative policies.Mon, 25 Mar 2013 13:55:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013 Alberta Budget.aspxToday Alberta Finance Minister Doug Horner delivered the province’s 2013 budget.Mon, 06 May 2013 12:50:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/MDPhysicianServices.aspxThe CRA has released guidance on its new Pooled Registered Pension Plans (PRPP), a new option for tax-effective retirement savings for employees of small businesses and self-employed individuals who don't already have a company pension plan.Wed, 06 Mar 2013 13:29:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Europe's New Financial Transaction Tax - Check Out KPMG's Resource.aspxKPMG Global has created a new resource centre to track the introduction of the financial transaction tax (FTT), a European transactions tax that is proposed to be levied on financial institutions carrying out transactions in securities and derivatives.Wed, 06 Mar 2013 13:33:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/New BC PST is Ready to Go Are You.aspxIs your business ready to face a new B.C. PST system on April 1, 2013?Mon, 06 May 2013 12:53:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Confirms RRSP Prohibited Investment Tax Applies to Exercised Warrants.aspxThe CRA confirmed that the 50% tax on prohibited investments applies where a RRSP or RRIF annuitant acquires a prohibited investment by exercising a warrant that is also a prohibited investment but that was acquired before March 23, 2011.Mon, 04 Mar 2013 14:08:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Time Sensitive Reminder - File Your RRSP Election for Transitional Relief by March 1.aspxTaxpayers have only until March 1, 2013 to file an election to have transitional relief apply to advantages earned on prohibited investments held in a registered retirement savings plan (RRSP) on March 23, 2011.Wed, 27 Feb 2013 13:52:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/New REIT Rules — Welcome Improvements.aspxCertain trusts may benefit from recent legislative changes to ease the requirements to qualify as a real estate investment trust (REIT) for income tax purposes.Mon, 06 May 2013 12:56:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/TaxNews - OECD Enters Debate on Fair Taxation - Releases Major Study.aspxThe Organisation for Economic Co-operation and Development (OECD) has released a major study paper,Wed, 20 Feb 2013 11:46:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/More Trusts Now Required to File Quebec Returns.aspxCertain trusts, regardless of residency, may now have to file a Quebec income tax return according to a Quebec announcement.Wed, 20 Feb 2013 11:37:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Are All Your Systems Go for New BC PST.aspxIf your company sells taxable goods and services in British Columbia, you should be ready for the new B.C. PST that takes effect in just six weeks on April 1, 2013.Mon, 06 May 2013 13:00:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/New WSIB Rules for Ontario Construction Industry — What You Need to Know.aspxThe Workplace Safety and Insurance Board (WSIB) announced that as of January 1, 2013, new rules apply to companies and individuals doing construction in Ontario.Wed, 20 Feb 2013 11:47:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Public Trust T3 Postings - March 1, 2013 Deadline.aspxBusiness income trusts, resource trusts and REITs, collectively "Public Trusts", are required to post their T3 tax reporting information for unitholders on the CDS website within 60 days of the end of the calendar year.Fri, 15 Feb 2013 13:03:37 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs TIEA with Uruguay.aspxFinance has announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Uruguay on February 5, 2013.Fri, 15 Feb 2013 13:10:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Confirms NPO's Interest Income is Taxable Property Income.aspxIn a recent technical interpretation (TI), the CRA states that a non-profit organization's (NPO) interest income earned on membership fee payment plans is considered to be income from property), and therefore subject to tax under Part I of the Act.Wed, 06 Mar 2013 15:48:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Prescribed Rate Steady at 1 percent for Q2 of 2013.aspxThe CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the second quarter of 2013 (April 1- June 30, 2013) will remain unchanged.Wed, 06 Feb 2013 10:58:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Check Out What's New in CRA's Latest Charity Guide.aspxThe CRA has revised Guide T4033, "Completing the Registered Charity Information Return", to require charities to provide more details about their political activities, based on changes announced in the 2012 federal budget. Wed, 06 Feb 2013 10:05:19 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/ForeignInforForeign Information Reporting Form T1134 - CRA Grants ReprmationReportingFormT1134-CRAGrantsReprieveUntilJune30.aspxThe CRA has now officially confirmed that it will administratively accept the old version of the foreign affiliate information reporting Form T1134 series (i.e., old Forms T1134A and T1134B) until June 30, 2013.Wed, 06 Feb 2013 10:11:12 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Waiver Relief for Non-Residents Attending Conferences in Canada.aspxThe CRA has released details of its new administrative relief for certain non-resident employees who attend a conference in Canada as part of the duties of their employment.Wed, 06 Feb 2013 10:16:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs TIEA with Liechtenstein.aspxFinance has announced that Canada signed a new Tax Information Exchange Agreement (TIEA) with Liechtenstein on January 31, 2013.Tue, 16 Apr 2013 14:31:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TaxNews/Pages/default.aspxKPMG's Tax professionals are regularly published at seminars and conferences, industry association meetings, and in trade magazines. Below is a selection of these articles, reproduced with permission.Wed, 10 Apr 2013 14:21:51 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Sunrise Realty - TCC Disagrees with CRA's Appraisal of Land vs. Building Costs.aspxIn Sunrise Realty Investments Limited v. The Queen, the Tax Court of Canada (TCC) allowed the taxpayer's appeal regarding the purchase price allocation of a property with land and a rental building.Wed, 30 Jan 2013 11:30:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/New QST Returns and Filing Procedures for Many FIs.aspxMany financial institutions registered for QST purposes will soon have to start filing their QST returns with the CRA instead of the Quebec Revenu Agency (QRA).Tue, 26 Feb 2013 15:44:33 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Reminder - Some Pension Plans Must Remit Deemed Tax for Employers by January 31.aspxMany corporations' tax directors and pension plan administrators working for employers with a December 31 year-end must calculate and remit a deemed GST/HST amount by January 31, 2013.Fri, 15 Feb 2013 13:35:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/U.S. Finalizes FATCA Regulations.aspxThe U.S. Treasury Department and the IRS have released the final Foreign Account Tax Compliance Act (FATCA) provisions.Thu, 24 Jan 2013 14:46:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Says Debt Forgiveness Rules Can Apply to Family Loans.aspxIn a recent technical interpretation, the CRA confirmed that the debt forgiveness rules in section 80 apply on the inter vivos settlement of certain non-arm's length obligations.Thu, 24 Jan 2013 14:41:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Thinking-Beyond-Borders-2012.aspxThis publication identifies compliance matters for business travelers doing business in any of the 90 countries in study. Tue, 07 May 2013 07:27:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Tax Accounting Round-up — 2012 Canadian Tax Changes.aspxIf you are involved in preparing financial reports for corporations or other organizations, certain 2012 Canadian tax changes may need to be reflected in your year-end financial statements.Thu, 02 May 2013 09:28:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/US President Obama signed the American Tax Relief Act of 2012 (the AU.S. Moves to Avoid Fiscal Cliff Tax Hikes for 2013.aspxU.S. President Obama signed the American Tax Relief Act of 2012 (the Act) on January 2, 2013 to avert the much publicized "fiscal cliff" of tax increases and spending cuts (the latter is deferred to March 2013).Wed, 09 Jan 2013 13:34:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/CRA Consolidates Form T1134 Foreign Affiliate Reporting.aspxThe CRA has released new Form T1134 which combines both the previous Forms T1134A and T1134B.Wed, 09 Jan 2013 13:27:27 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Labour Unions - To Become Subject to New CRA Information Reporting Obligations.aspxLabour organizations are now one step closer to being required to file annual information returns to report details of their expenditures and activities with the CRA.Wed, 09 Jan 2013 13:14:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Concludes an NPO Entity is Not Tax-Exempt.aspxThe CRA recently released an internal technical interpretation (TI) in which it considers whether a corporation under CRA audit as part of its NPO project is exempt from income tax.Wed, 09 Jan 2013 13:56:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Consolidates Form T1134 Foreign Affiliate Reporting.aspxThe CRA has announced it will send educational and intent-to-audit letters to selected taxpayers as part of its "educational" outreach campaign. Wed, 09 Jan 2013 13:57:00 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Fund Managers and Insurance Companies — Are You Ready for 2013 GST Changes.aspxFund managers and insurance companies may soon need to change their systems and processes for upcoming GST/HST and QST changes.Thu, 02 May 2013 09:58:08 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Reassessment Opens Up Year to Object to Any Items.aspxIn a recent internal technical interpretation, the CRA Rulings Directorate clarified that a taxpayer could object to a reassessment in its entirety, even though the reassessment contained prior adjustments that it previously accepted.Wed, 19 Dec 2012 12:20:43 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Remaining 2012 Federal Budget Measures Now Enacted.aspxBill C-45, which implements most of the remaining 2012 federal budget measures, received Royal Assent on December 14, 2012, and is now considered enacted for purposes of U.S. GAAP.Wed, 19 Dec 2012 11:49:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Pension Plans — Your GST HST Filing Deadlines Are Fast Approaching.aspxAs 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.Wed, 24 Apr 2013 13:29:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/KPMGs-Individual-Income-Tax-and-Social-Security-Rate-Survey-2012.aspxThere are many surveys that provide a snapshot of taxes on personal incomes around the world for the current year.Wed, 03 Apr 2013 11:57:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Cashless Stock Option Exercise Shares - Use Better-Than-Average ACB.aspxIn certain circumstances, a taxpayer may be able to isolate the adjusted cost base (ACB) of newly purchased stock option shares by treating them as a class of shares that is separate from other identical shares that the taxpayer already owns.Wed, 12 Dec 2012 16:33:04 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Changes in Store for U.S. Taxpayers' Inventory Calculation.aspxThe Treasury Department and the IRS have released regulations to generally prohibit the use of negative amounts in computing additional costs for purposes of the simplified methods of accounting under the section 263A uniform capitalization rules.Wed, 19 Dec 2012 12:05:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/CRA Administrative Positions on Penalties and OECD Guidelines.aspxThe CRA has updated its administrative positions on referrals to its Transfer Pricing Review Committee and its use of the OECD Guidelines when performing transfer pricing audits.Wed, 19 Dec 2012 12:07:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Foreign Affiliate Rules Now Set — Take Action to Manage Their Impact.aspxThe Department of Finance has released long-awaited tax rules affecting foreign affiliate members of Canadian corporate groups.Thu, 02 May 2013 10:02:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Reminder - Taxpayer 2002 Fairness Deadline is December 31, 2012.aspxTaxpayers have until December 31, 2012 to file taxpayer relief provision (old fairness provision) requests for the 2002 tax year and any reporting period that ended during the 2002 calendar year.Wed, 05 Dec 2012 09:55:57 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Finance Bumps Up 2013 TFSA Annual Contribution Limit By $500.aspxFinance has announced the annual contribution limit for Tax-Free Savings Accounts (TFSA) will increase to $5,500 (from $5,000) starting in 2013.Wed, 28 Nov 2012 08:53:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/NPO's Taxable Subsidiary or Trust May Taint its Tax-Exempt Status.aspxThe CRA recently released a technical interpretation where it commented on whether a non-profit organization (NPO) that incorporates and holds shares in a for-profit taxable subsidiary jeopardizes its tax exempt status under subsection 149(1).Wed, 28 Nov 2012 08:40:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/NPO's Tax-Exempt Status May Be Lost Where it Makes Loan To Taxable Subsidiary.aspxThe CRA recently released a technical interpretation in which it states that it may consider a non-profit organization (NPO) that makes a loan to a taxable subsidiary to be carrying on a for-profit activity unrelated to its not-for-profit objectives.Wed, 28 Nov 2012 08:44:48 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/New QST Ins and Outs — Get Ready for January 1, 2013.aspxFinancial 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.Thu, 02 May 2013 09:54:51 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Tax Accounting Update — Finance Clears the Slate.aspxThe federal government recently tabled two major tax bills in the House of Commons containing more than 1,300 pages of tax amendments.Thu, 09 May 2013 08:54:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2013-2014 Quebec Budget.aspxEarlier today, Quebec Minister of Finance and the Economy, Nicolas Marceau, tabled the Quebec provincial budget for 2013-2014.Thu, 02 May 2013 10:05:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Reminder - U.S. Excise Tax on Medical Devices Starts in 2013.aspxThe U.S. excise tax on medical devices takes effect January 1, 2013.Wed, 21 Nov 2012 16:25:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/RRSP Investments in CCPCs - Don't Miss Key December 31, 2012 Transitional Relief Deadline.aspxCertain taxpayers with registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) investments may need to make an important one-time tax election on or before December 31, 2012.Wed, 21 Nov 2012 16:21:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Time-Sensitive Tips for Reducing Your 2012 Personal Tax Bill.aspxAs another year draws to a close, many Canadians are looking for ways to improve their financial well-being.Thu, 02 May 2013 09:56:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Transfer Pricing News — 2012 Report Cardon CRA’s Mutual Agreement Program.aspxThe CRA’s 2011-12 Mutual Agreement Procedure Program Report shows that interest in the program continues to be strong.Thu, 02 May 2013 10:09:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/BC Home Builders — Transitioning Back to GST PST.aspxHome 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.Thu, 02 May 2013 10:10:57 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Deadline Crunch Time — Are You Ready.aspxComplying with all your business’ indirect tax filing obligations may become more complicated and time-consuming in the coming months.Wed, 08 May 2013 14:29:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Says Investing Activity Could Jeopardize NPO's Tax-Exempt Status.aspxIn a recent internal technical interpretation, the CRA advises that whether the level of investment activity of a particular entity qualifies for the non-profit organization (NPO) exemption is a question of fact in the specified situation.Wed, 14 Nov 2012 14:50:44 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Construction Business Alert — New WSIB Rules Take Effect for 2013.aspxCompanies and individuals doing construction in Ontario who did not have to pay Ontario Workplace Safety and Insurance Board (WSIB) premiums in the past may now have to begin doing so, effective January 1, 2013.Thu, 15 Nov 2012 15:35:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/FATCA Update - U.S. and Canada Sitting Down at Bargaining Table.aspxFinance recently announced that Canada and the United States have begun negotiations to enter into an information exchange agreement on November 8, 2012.Wed, 14 Nov 2012 15:08:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs First Tax Treaty with Hong Kong.aspxCanada signed its first tax treaty with Hong Kong on November 11, 2012.Wed, 14 Nov 2012 11:51:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Tax Accounting Update - Finance Plays Catch-Up.aspxThe Department of Finance introduced Bill C-45, which implements the major 2012 federal budget measures, on October 18, 2012.Thu, 08 Nov 2012 12:27:48 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Tax Accounting Update - Finance Plays Catch-Up.aspxThe Department of Finance introduced Bill C-45, which implements the major 2012 federal budget measures, on October 18, 2012.Thu, 08 Nov 2012 12:30:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Seeking Comments on Beneficial Owner and PE Definitions.aspxThe OECD Committee on Fiscal Affairs has released revised discussion drafts on proposals concerning the meaning of "beneficial owner" in the OECD Model Tax Convention, and the interpretation and application of PE in the Convention.Thu, 08 Nov 2012 16:32:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CPP Maximum Contributions Rates Increase by 2 percent for 2013.aspxThe CRA announced that the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2013 will increase to $51,100 (from $50,100).Thu, 08 Nov 2012 16:23:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Prescribed Rate Stays at 1 percent for Q1 of 2013.aspxThe CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the first quarter of 2013 (January 1- March 31, 2013) will remain unchanged.Thu, 08 Nov 2012 15:47:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Auditor General - Budget Making - Long-Term Impact of Budget Measures.aspxThe Auditor General (AG) recently released his Fall 2012 report.Thu, 01 Nov 2012 09:55:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Supreme Court of Canada - Latest Developments.aspxThe Supreme Court of Canada (SCC) will be hearing the CRA and QRA's leave to appeal for Deputy Minister of Revenue v. Services Environnementaux AES Inc. on November 8, 2012.Thu, 01 Nov 2012 10:06:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Are You Ready for the New R and D Regime.aspxIf 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.Wed, 14 Nov 2012 21:44:33 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Shareholder Loans - Meaning of Series of Loans and Repayments.aspxIn a recent technical interpretation on shareholder loans, the CRA states that, in the phrase "a series of loans or other transactions and repayments" in subsection 15(2.6).Wed, 24 Oct 2012 15:54:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2012 Federal Budget Tax Measures Now Substantively Enacted.aspxBill C-45 to implement most of the remaining 2012 federal budget measures received first reading in the House of Commons on October 18, 2012.Thu, 18 Oct 2012 15:54:51 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/2012 Federal Budget Tax Measures Now Substantively Enacted.aspxBill C-45 to implement most of the remaining 2012 federal budget measures received first reading in the House of Commons on October 18, 2012.Thu, 25 Oct 2012 07:11:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/GlaxoSmithKlineInc—Supreme Court Sends Transfer Pricing Dispute Back to Square One.aspxCanadian 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.Thu, 02 May 2013 10:14:56 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Act Now - Ontario RST Refund Final Deadline Looming.aspxYou still have time to claim refunds to recover overpaid Ontario Retail Sales Tax (RST) before the upcoming deadline.Thu, 18 Oct 2012 12:45:12 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Last Word on Quebec Personal Tax Hiks for 2012 and 2013.aspxQuebec announced changes to Quebec’s proposed personal tax rate hikes on October 10, 2012.Thu, 18 Oct 2012 12:46:19 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Chile Hikes Corporate Income Tax Rate.aspxTaxpayers with activities or investments in Chile will likely be affected by significant changes to the country's tax regime that were enacted on September 27, 2012.Thu, 11 Oct 2012 16:31:09 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Quebec Proposes Tax Hike for Mining Corporations.aspxThe newly elected minority Parti Québécois (PQ) Quebec government's campaign platform proposes a revised mining royalty regime that is based on both production and profits that could significantly increase Quebec's mining taxes.Wed, 03 Oct 2012 08:46:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Corporate Partners Lose Deferral When Partnership's Business Changes.aspxThe CRA recently noted that, where a partnership's activity which gave rise to a QTI reserve for its partners is no longer the partnership's principal activity, it would deny the QTI reserve claimed by the corporate partners.Wed, 03 Oct 2012 09:13:15 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Latest Wave of Indirect Tax Changes.aspxIn the latest wave of Indirect Tax changes on September 26, 2012, the federal government released more than 30 pages of new GST/HST regulations. Wed, 03 Oct 2012 08:48:14 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Interest Not Deductible on Bare Trustee's Refinancing Plan.aspxIn a recent technical interpretation, the CRA comments on the deductibility of interest from income earned from real estate held by a bare trustee.Thu, 20 Sep 2012 07:40:05 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/GlaxoSmithKline Transfer Pricing Decision - What's at Stake.aspxCanadian taxpayers that conduct cross-border related party transactions are eagerly awaiting the Supreme Court of Canada's (SCC) decision in the transfer pricing case The Queen v. GlaxoSmithKline Inc.Wed, 12 Sep 2012 11:08:12 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canadian Tax Partners Stand Out.aspxKPMG partners Paul Lynch (Ottawa, National Tax), Gerald Grenon (Calgary, Moskowitz & Meredith LLP) and John Bain (Toronto, Indirect Tax) have been recognized by the International Tax Review (ITR) as some of the world's leading tax advisers.Wed, 12 Sep 2012 09:54:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Canadian Tax Partners Stand Out.aspxKPMG partners Paul Lynch (Ottawa, National Tax), Gerald Grenon (Calgary, Moskowitz & Meredith LLP) and John Bain (Toronto, Indirect Tax) have been recognized by the International Tax Review (ITR) as some of the world's leading tax advisers.Wed, 12 Sep 2012 09:40:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Trust Beneficiary Doesn't Need to Meet CGE Holding Period Test.aspxThe CRA stated that when an individual has been a beneficiary of an inter vivos trust for less than 24 months, he or she may still be able to claim the capital gains deduction for a taxable capital gain designated by the trust.Wed, 05 Sep 2012 11:15:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Update - India's Tax Amendments Overturning Vodafone Case.aspxThe Indian Authority for Advance Tax Rulings has determined that certain international share transfers were subject to India's transfer pricing and minimum alternative tax provisions.Wed, 05 Sep 2012 11:13:16 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/frontiers-in-tax-July-2012.aspxThis edition discusses how legislators are struggling to translate policymakers' broad prescriptions into detailed rules for a new FS environment.Fri, 14 Sep 2012 13:44:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Poland Plans To Make Joint-Stock Partnerships Taxable.aspxPoland has released new information on planned amendments to the laws on corporate income tax and personal income tax including those that apply to limited joint-stock partnerships (SKA).Wed, 29 Aug 2012 13:15:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Proposals to Impact Sale of Partnership Interest to Non-Residents and Tax Exempt Entities.aspxFinance has released draft legislation to apply section 100 to a recalculation of a taxpayer's gain to the sale of a certain partnership interest, or to an indirect transfer of a partnership interest to a non-resident person or a tax-exempt entity.Wed, 22 Aug 2012 09:09:22 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Restriction of Section 88 Bump for Partnership Interests.aspxProposed amendments to limit the application of the section 88 "bump" in respect of a partnership interest were introduced by the Department of Finance in its draft legislation released on August 14, 2012.Wed, 22 Aug 2012 09:14:16 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Thin Capitalization Rules - Time For Planning is Running Out.aspxFinance released draft legislation to modify the thin capitalization rules to reduce the debt-to-equity ratio to 1.5:1 (from 2:1), extend the rules to partnership debt, and introduce a new deemed dividend rule for excess interest expense.Wed, 22 Aug 2012 09:39:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Thin Capitalization Rules - Time For Planning is Running Out.aspxFinance released draft legislation to modify the thin capitalization rules to reduce the debt-to-equity ratio to 1.5:1 (from 2:1), extend the rules to partnership debt, and introduce a new deemed dividend rule for excess interest expense.Wed, 22 Aug 2012 12:11:04 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Costa Rica TIEA Now in Force.aspxThe Department of Finance has announced that its Tax Information Exchange Agreement (TIEA) with Costa Rica came into force on August 14, 2012.Wed, 22 Aug 2012 09:47:27 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/New Shareholder Loan Elective Imputed Interest Benefit.aspxProposed amendments to the shareholder loan rules in subsection 15(2) were introduced by Finance in its draft legislation released on August 14, 2012.Wed, 22 Aug 2012 09:19:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/2012 Federal Budget Part 2 - Draft Legislation Released.aspxThe Department of Finance released draft legislation for most of the remaining tax items announced in the 2012 federal budget on August 14, 2012.Wed, 22 Aug 2012 09:28:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2012 Federal Budget Part 2 - Draft Legislation Released.aspxThe Department of Finance released draft legislation for most of the remaining tax items announced in the 2012 federal budget on August 14, 2012.Wed, 22 Aug 2012 15:12:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Quick View of Charities' Returns.aspxThe CRA has launched Charity Quick View, a new online tool that provides a summary of a registered charity's activities, revenues, and expenditures.Wed, 22 Aug 2012 09:46:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/New Shareholder Loan Elective Imputed Interest Benefit.aspxProposed amendments to the shareholder loan rules in subsection 15(2) were introduced by Finance in its draft legislation released on August 14, 2012.Wed, 22 Aug 2012 15:10:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/No Change to CRA 1 percent Prescribed Rate for Q4 of 2012.aspxThe Department of Finance released draft legislation for most of the remaining tax items announced in the 2012 federal budget on August 14, 2012.Wed, 22 Aug 2012 15:55:04 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Restriction of Section 88 Bump for Partnership Interests.aspxProposed amendments to limit the application of the section 88 "bump" in respect of a partnership interest were introduced by the Department of Finance in its draft legislation released on August 14, 2012.Wed, 22 Aug 2012 09:50:10 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Proposals to Impact Sale of Partnership Interest to Non-Residents and Tax Exempt Entities.aspxFinance has released draft legislation to apply section 100 to a recalculation of a taxpayer's gain to the sale of a certain partnership interest, or to an indirect transfer of a partnership interest to a non-resident person or a tax-exempt entity.Tue, 09 Oct 2012 15:28:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/FA Dumping Proposals Ease Burden of Rules.aspxThe Department of Finance has released draft legislation that includes revised foreign affiliate (FA) dumping proposals originally introduced in its 2012 federal budget tax measures.Thu, 02 May 2013 10:16:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Saint Lucia TIEA Now in Force.aspxFinance has announced that its Tax Information Exchange Agreement (TIEA) with Saint Lucia came into force on July 20, 2012.Wed, 15 Aug 2012 12:46:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Gillette Take Two - U.S. Appeals Court to Reconsider California Income Tax Refund Decision.aspxLast week the California Court of Appeal vacated its recent decision in The Gillette Co., et al. v. Franchise Tax Board which invalidated California's requirement for taxpayers to double-weight in-state sales.Wed, 15 Aug 2012 12:33:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/NPO Audit Project - CRA Stops Issuing Education Letters.aspxThe Revenue Minister has informed the Canadian Chamber of Commerce (Chamber) that the CRA is no longer sending "education letters" to certain non-profit organizations (NPO) that it has audited under its risk identification project.Wed, 15 Aug 2012 12:16:15 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Banks Facing More Indirect Tax Changes and CRA Audits.aspxIs your company ready for another big wave of changes to indirect tax laws and administrative policies?Wed, 15 Aug 2012 12:24:10 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada-Switzerland Treaty Adopts OECD's Information Exchange Standard.aspxCanada and Switzerland have signed an Agreement that modifies the Interpretative Protocol of the Canada-Switzerland treaty to ensure that the interpretation of Article 25 follows the standard of the OECD.Wed, 15 Aug 2012 12:41:07 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canadian Companies May be Entitled to California Income Tax Refunds.aspxCanadian companies doing business in California may be entitled to tax refunds following a recent court decision in that state.Wed, 15 Aug 2012 12:35:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/No Change to CRA 1 percent Prescribed Rate for Q4 of 2012 2.aspxThe CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the fourth quarter of 2012 (October 1- December 31, 2012) will remain unchanged.Thu, 08 Nov 2012 08:35:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/SRandED Contingency Fees - Government Kicks off Consultations.aspxAs promised in the 2012 federal budget, Finance and the CRA have launched a joint consultation process on the impact of contingency fees charged by tax preparers on the effectiveness of the SR&ED tax incentive program.Thu, 09 Aug 2012 13:57:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Craig - SCC Allows Lawyer Unrestricted Farm Loss Deduction.aspxThe Supreme Court of Canada (SCC) has found in favour of the taxpayer on the correct application of the restricted farm loss rules in section 31 of the Act in The Queen v. John H. Craig. Thu, 09 Aug 2012 14:37:56 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Insurance Companies Facing More Indirect Tax Changes and CRA Audits.aspxIs your company ready for another big wave of changes to indirect tax laws and administrative policies? Thu, 09 Aug 2012 13:34:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Celebrating our Gurus - John Bain Appointed Deputy Chair of the CICA Commodity Tax Committee.aspxKPMG is honoured to announce that John Bain has been appointed Deputy Chair of the Canadian Institute of Chartered Accountants (CICA) Commodity Tax Committee, effective immediately.Thu, 09 Aug 2012 13:38:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Tax Accounting —Snapshot of Rates on June 30, 2012.aspxIf 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.Thu, 02 May 2013 10:04:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Extends Deadline for Offside RRSP Relief to December 31.aspxThe CRA has extended the deadline for taxpayers to take advantage of the transitional relief for certain RRSP investments (and related income) that unexpectedly became prohibited investments to December 31, 2012 (from June 30, 2012).Wed, 25 Jul 2012 09:46:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Quebec Issues New Voluntary Disclosure Guidance.aspxQuebec has released an information bulletin that updates its policy on voluntary disclosures.Wed, 25 Jul 2012 09:53:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada and U.S. Agree to Adopt OECD's Business Profits PE Guidance.aspxThe competent authorities of Canada and the U.S. have entered into a new agreement on the treatment of business profits under the Canada-U.S. tax treaty to ensure consistency with the OECD Report on the Attribution of Profits to Permanent Establishments.Wed, 25 Jul 2012 09:59:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Can You Claim US Duty Refunds for Imports by Related Companies.aspxIf 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.Wed, 08 May 2013 14:27:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Global-Transfer-Pricing-Review.aspxKPMG's 2012 Global Transfer Pricing Review is designed to help multinational companies stay current with transfer pricing rules worldwide.Mon, 23 Jul 2012 08:53:27 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Negotiating New Tax Treaty with Australia.aspxNegotiations for an income tax treaty between Canada and Australia are currently underway, according to a news release issued by Finance on July 10, 2012.Wed, 18 Jul 2012 13:04:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada-Colombia Tax Treaty Now in Force.aspxFinance has announced that its tax treaty with the Republic of Colombia came into force on June 12, 2012.Wed, 18 Jul 2012 13:08:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Will Not Assess or Pay Big Refunds Based on Draft Legislation.aspxAlthough taxpayers often assume that the CRA always assesses tax based on proposed legislation, a recent technical interpretation clarifies that the CRA sometimes does not do this.Wed, 18 Jul 2012 12:59:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Partnership Information Returns - Relief Expanded for 2012.aspxCRA will not impose penalties on certain T5013 partnership information returns because of incomplete adjusted cost base (ACB) and at-risk amount (ARA) information required to be reported on Schedule 50, according to new information posted on its website.Wed, 11 Jul 2012 14:56:57 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Barbados 2012 Budget Cuts Corporate Tax Rate.aspxBarbados has proposed several changes to its taxation system in its 2012 budget, which was delivered on June 26, 2012.Wed, 11 Jul 2012 15:05:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/IRS Relaunches Individuals' Offshore Voluntary Disclosure Program.aspxThe IRS has released details on its relaunch of a special open-ended voluntary disclosure initiative for individuals to disclose offshore entities or accounts.Wed, 11 Jul 2012 15:01:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/KPMG's R and D Incentives Reference Guide - 10 Country Comparison.aspxKPMG has released a new research and development (R&D) incentives guide, R&D Incentives and Services - Adding Value Across the Americas, to help clients decide where to locate their R&D programs.Wed, 04 Jul 2012 12:50:49 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/IRS Offers New FBAR and Tax Relief for Accidental Americans.aspxThe IRS has announced simplified procedures to allow certain U.S. citizens or dual citizens to become compliant with their U.S. personal tax and FBAR filing requirements without facing penalties or additional enforcement action.Wed, 04 Jul 2012 12:51:44 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Manitoba RST on Insurance Contracts Starts July 15.aspxInsurance companies, brokers and group policy holders now have less than a month to adjust their systems for Manitoba’s new tax measure that will apply Manitoba’s 7% retail sales tax (RST) to many insurance contracts effective July 15, 2012.Wed, 04 Jul 2012 12:37:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Bill C-38 - Federal Budget Bill No.1 Enacted.aspxLegislation to enact certain tax measures announced in the 2012 federal budget, tabled as Bill C-38, received Royal Assent on June 29, 2012, making these measures enacted for U.S. GAAP as of that date.Wed, 04 Jul 2012 12:31:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Navigating-APAs.aspxKPMG International’s Advance Pricing Arrangements: Navigating APAs analyzes the experiences of firms who have engaged in Advance Pricing Arrangements. Tue, 16 Apr 2013 14:06:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Fund Managers — Charge the Right Rate for GST-HST.aspxManagers 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.Thu, 09 May 2013 09:08:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/U.S. Tax Court Rules for Taxpayer in Debt vs. Equity Case.aspxCanadian corporations that finance U.S. acquisitions or operations with intercompany debt will be interested in a recent U.S. Tax Court case.Wed, 27 Jun 2012 15:08:53 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ontario's 2012 budget bill Bill 55 and related legislation in Bill 114 Ontario Enacts New Top Ontario Personal Tax Rate.aspxOntario's 2012 budget bill (Bill 55) and related legislation in Bill 114 received Royal Assent in the Ontario legislature on June 20, 2012.Wed, 27 Jun 2012 15:03:18 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ontario's 11.5 percent Corporate Rate Freeze Now Law.aspxOntario's 2012 budget bill (Bill 55) and related legislation in Bill 114 received Royal Assent on June 20, 2012. This means that Ontario's general corporate income tax rate freeze at 11.5% is considered substantively enacted as of June 20, 2012.Wed, 20 Jun 2012 14:21:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Extends Corporate T2 Filing Deadline to July 3, 2012.aspxWe have confirmed with the CRA that this year's federal due date for filing corporate tax returns for corporations with December 31, 2011 year-ends has been extended to Tuesday, July 3, 2012.Wed, 20 Jun 2012 11:28:32 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA's GAAR Committee Batting 964 in 2012.aspxThe CRA recently released updated GAAR statistics as of March 31, 2012. In the year ended March 31, 2012, 83 GAAR cases were referred to the GAAR Committee in the last 12 months.Wed, 20 Jun 2012 11:18:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Reduce Risk and Increase Cash Flow with Good Indirect Tax Management.aspxGST/HST and VAT can be the third or fourth largest cash flow item for a company. Yet compared to other large cash items, this item tends to receive little attention from most heads of tax or chief financial officers.Fri, 15 Jun 2012 08:48:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Time Running Thin for “Thin Cap” Planning.aspxCanadian 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.Wed, 08 May 2013 13:14:05 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Owner-Managers — Consider Last-Chance 2012 Tax Savings Opportunities.aspxEven though 2012 is almost over, many tax planning opportunities are still available before the year ends.Mon, 06 May 2013 13:03:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ontario 11.5 percent Corporate Rate To Be Substantively Enacted June 20, 2012.aspxOntario has passed a motion that will likely lead to substantive enactment of Ontario's general corporate income tax rate of 11.5% for a taxation year ending after June 30, 2012 on June 20, 2012 for purposes of Canadian GAAP and IFRS.Thu, 14 Jun 2012 09:10:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Canadian Exporters - U.S. Customs Changes Present Refund Opportunity.aspxIf you have a client that is the importer of record into the United States that sells to a related party, they may be entitled to a duty refund due to new rules on post-import adjustments that will come into effect July 30, 2012.Thu, 14 Jun 2012 09:10:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Proposes Intangible Transfer Pricing Guidance.aspxA working party of the OECD Committee on Fiscal Affairs has released a discussion draft of proposed changes to the OECD's Transfer Pricing Guidelines in the form of a discussion draft on the transfer pricing aspects of intangibles.Fri, 15 Jun 2012 08:41:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Views on Client Entertainment and Golf Expenses.aspxIn a recent technical interpretation, the CRA confirmed that whether expenses incurred to entertain employees and suppliers at a resort are deductible depends in part on whether the resort is considered a "lodge" under subparagraph 18(1)(l)(i).Wed, 06 Jun 2012 08:28:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Provincial Budget Legislation - Status Update.aspxThe following is a summary of provincial budget legislative changes in Ontario, Saskatchewan, Nova Scotia and New Brunswick that discusses whether the legislation is substantively enacted for Canadian GAAP purposes or enacted for U.S. GAAP purposes.Thu, 14 Jun 2012 12:09:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Big Wave of Indirect Tax Changes Rolling In.aspxBusinesses 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.Thu, 09 May 2013 08:50:15 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Tax Dispute Resolution - Update on FATCA and Foreign Finance Companies.aspxThe latest issue of Tax Dispute Resolution Quarterly, KPMG's interactive client newsletter, contains several articles of interest, including the IRS probe into foreign finance companies and the proposed FATCA regulations.Mon, 11 Jun 2012 07:12:12 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Reminder - US Tax Filing Deadlines Looming.aspxCertain corporate and personal taxpayers may have important U.S. tax filing deadlines approaching. Individuals who have to file the U.S. Wed, 30 May 2012 11:55:52 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Reminder - Offside RRSPs - Act Before June 30 for Transitional Relief.aspxTaxpayers have until June 30, 2012 to elect to take advantage of the transitional relief for certain RRSP investments (and related income) that unexpectedly became prohibited investments.Wed, 30 May 2012 09:57:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs Tax Treaty with Poland.aspxThe Department of Finance recently announced that Canada signed a Tax Convention with Poland on May 14, 2012.Wed, 23 May 2012 14:39:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Competitive-Alternatives-2012.aspxKPMG’s report compares business location costs in over 110 cities and 14 countries.Wed, 23 May 2012 09:58:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada-Luxembourg Tax Treaty — New Protocol.aspxCanada and Luxembourg signed a Protocol amending the Canada-Luxembourg tax treaty on May 8, 2012.Wed, 16 May 2012 12:03:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Australia's 2012 Budget Cancels 1 percent Corporate Tax Rate Cut.aspxAustralia's 2012 budget proposes to cancel its proposed measure to reduce the corporate tax rate to 29% and, as a result, the rate will stay at 30%.Wed, 16 May 2012 12:03:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/New Brunswick's FI Capital Tax Hike Substantively Enacted.aspxA bill to enact a New Brunswick 2012 budget measure received first reading in the provincial legislature on May 11, 2012.Wed, 16 May 2012 11:13:09 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Clarifies When it Will Accept Late or Amended Elections.aspxIn a recent internal technical interpretation, the CRA affirmed that an Ontario-Federal corporate tax harmonization election that is filed with a late tax return will be considered valid, but it would not accept a late or amended election.Wed, 16 May 2012 11:13:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Penalty Box for Late-Filed Information Returns.aspxThe CRA released a document listing the various late-filing penalties that apply to various information returns.Wed, 16 May 2012 11:13:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/BC Unrolls Blueprint for New PST.aspxYesterday the British Columbia government introduced legislation (the Provincial Sales Tax Act – PST Act) to implement the new PST effective April 1, 2013.Wed, 08 May 2013 13:11:18 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Real Estate Industry — Brace for Tax Impact of Budget Changes.aspxCompanies in the real estate industry with interests in partnerships may be affected by tax changes announced in the 2012 federal budget.Wed, 08 May 2013 13:09:15 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Holding Companies — Are You Overlooking GST HST Risks or Opportunities.aspxDoes 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?Wed, 08 May 2013 13:08:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/No Change to CRA Prescribed Rate for Q3 of 2012.aspxThe CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the third quarter of 2012 (July 1- September 30, 2012) will remain unchanged.Tue, 08 May 2012 14:59:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs Tax Treaty with Serbia.aspxThe Department of Finance recently announced that Canada has signed a Tax Convention with Serbia on April 27, 2012.Tue, 08 May 2012 14:44:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Signs Tax Treaty with New Zealand.aspxThe Department of Finance recently announced that Canada signed a Tax Convention with New Zealand on May 3, 2012.Tue, 08 May 2012 15:09:50 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Finland Proposes New Earnings Stripping Rules.aspxFinland has proposed to limit interest expense on group internal debts.Wed, 02 May 2012 10:26:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/MUSH Sector - CRA Permanently Extends T2 Compliance Grace Period.aspxThe CRA recently stated that it will permanently extend the filing exemption for municipalities and municipally owned bodies to file corporate income tax returns in order to get refunds.Wed, 02 May 2012 10:11:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Bill C-38 - Federal Budget Bill No. 1 Receives First Reading.aspxBill C-38, the first bill reflecting proposals introduced during the 2012 federal budget, received first reading on April 26, 2012.Wed, 02 May 2012 10:19:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Supreme Court Restricts GST Input Tax Credits on Publicly Funded Project.aspxThe 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. Wed, 08 May 2013 13:06:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 Newfoundland and Labrador Budget.aspxNewfoundland 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.Wed, 08 May 2013 12:51:05 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Penny Woolford Appointed Chair of the Joint Committee.aspxKPMG is honoured to announce that Penny Woolford has been appointed Chair of the Canadian Bar Association / Canadian Institute of Chartered Accountants (CBA/CICA) Joint Committee on Taxation, effective April 1, 2012.Wed, 25 Apr 2012 09:06:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2012 Federal Budget Bill No. 1 Introduced.aspxFinance tabled a Notice of Ways and Means Motion (NWMM) on April 23, 2012 containing 32 pages of proposed legislation and 35 pages of explanatory notes to implement certain 2012 federal budget measures and other tax proposals.Wed, 25 Apr 2012 09:31:40 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Confirms Tax Treatment of Escalating Rent Payments.aspxIn a recent technical interpretation, the CRA confirmed that prepaid rent is not deductible in the year paid and that escalating annual rent payments are not deductible on a straight-line basis.Wed, 25 Apr 2012 09:32:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/SRED Forms Must Now be Filed with Partnership Information Return.aspxAn eligible partnership that has a corporation as a member must file a completed Form T661, "SR&ED Expenditures Claim" with its T5013, "Partnership Information Return", under the new filing requirements for partnerships.Wed, 25 Apr 2012 09:01:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ontario to Eliminate RST Refunds Early.aspxYou only have a few months left to recover any overpaid Ontario Retail Sales Tax (RST).Tue, 24 Apr 2012 10:01:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Penny Woolford Appointed Chair of the Joint Committee.aspxKPMG is honoured to announce that Penny Woolford has been appointed Chair of the Canadian Bar Association / Canadian Institute of Chartered Accountants (CBA/CICA) Joint Committee on Taxation, effective April 1, 2012.Wed, 25 Apr 2012 08:59:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Action Required - Manitoba Extends RST to Insurance Contracts.aspxInsurance companies have only a few weeks to prepare their systems to collect Manitoba's 7% retail sales tax (RST) on taxable insurance contracts effective July 1, 2012.Fri, 20 Apr 2012 13:59:10 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/2012 Nova Scotia Budget Bill — More D etails for HST Rate Reduction.aspxBill 17 to enact Nova Scotia's 2012 budget received first reading in the provincial legislature on April 12, 2012.Wed, 18 Apr 2012 10:44:47 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Financial Institutions — More GST HST Changes and More Risks.aspxFinancial institutions have faced significant GST/HST changes in the last few years and now face more changes to address British Columbia transitioning back to GST and PST, Quebec harmonizing its QST to the GST and upcoming legislative amendments.Wed, 18 Apr 2012 11:14:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Announces TIEA Negotiations with Panama.aspxFinance has announced that Canada has been in negotiations with Panama for a Tax Information Exchange Agreement (TIEA) since March 27, 2012.Wed, 18 Apr 2012 10:48:49 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 Manitoba Budget.aspxManitoba’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.Wed, 08 May 2013 12:49:43 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Transfer Pricing Adjustments May Trigger More Tax.aspxCanadian businesses that have had their transfer prices adjusted by the CRA may face higher withholding tax liabilities.Thu, 02 May 2013 09:13:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Supreme Court Confirms “Management and Control” Residency Test for Trusts.aspxThe 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.Wed, 08 May 2013 12:48:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Spain Announces New Earnings Strippings Rules.aspxSpain has enacted new legislation that restricts interest deductibility for Spanish corporations, effective April 1, 2012.Wed, 11 Apr 2012 12:24:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Taking Heat Over its Charity and NPO Audit Activity.aspxThe Canadian Chamber of Commerce has urged the CRA to stop issuing "education letters" to certain non-profit organizations (NPO) suggesting that they may not be in compliance with the Act.Wed, 11 Apr 2012 10:31:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/U.K. Budget to Upset Intra-Group Eurobond Financings.aspxAs stated in its 2012 budget announcement, the U.K. tax authorities are seeking comments on a proposed amendment to revoke the withholding tax exemption for Eurobonds issued between specific "avoidance situations".Thu, 05 Apr 2012 09:21:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Dhaliwal -- TCC Finds ABIL Election Requirement Met by E-Filer.aspxIn Samipal Dhaliwal v. The Queen, the TCC ruled that, by claiming an ABIL in his e-filed 2007 tax return, the taxpayer effectively "elected" to have the deemed disposition rules in subsection 50(1) apply to a bad debt.Wed, 11 Apr 2012 10:19:19 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 Nova Scotia Budget.aspxToday 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.Wed, 08 May 2013 12:24:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Retailers — Get Ready for Transition to B.C. PST and GST.aspxRetailers doing business in British Columbia need to get ready for the province’s return to the goods and services tax (GST) and a provincial sales tax (PST) as of April 1, 2013.Fri, 25 May 2012 12:19:41 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Press-Releases/Pages/Budget-2012-positions-Canada-for-fiscal-sustainability.aspxToday’s federal budget brought both a message of growth and change to the Canadian tax system, positioning Canada for fiscal sustainability, says KPMG.Thu, 29 Mar 2012 15:55:53 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Webcast-Replay-2012-Federal-Budget-Highlights.aspxThe 2012 Canadian Federal budget showcases planned government spending, projected revenue and will forecast the economic conditions for the year.Tue, 08 May 2012 06:56:22 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2012 Federal Budget Highlights.aspxFinance Minister Jim Flaherty delivered the government’s much-anticipated 2012 federal budget today.Wed, 08 May 2013 12:46:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 Ontario Budget.aspxToday 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.Wed, 08 May 2013 12:43:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/United Kingdom's 2012 Budget Cuts Income Tax Rates.aspxThe United Kingdom delivered its federal budget for 2012 on March 21, 2012.Tue, 27 Mar 2012 13:24:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Quebec 2012 Budget Targets Trusts and Real Estate Trusts.aspxThe 2012 Quebec budget contained proposals to tighten its tax legislation applicable to inter vivos trusts.Tue, 01 May 2012 14:19:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada-Austria Tax Treaty - New Protocol.aspxCanada and Austria signed a second Protocol amending the Canada-Austria tax treaty on March 9, 2012.Wed, 04 Apr 2012 13:23:00 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 New Brunswick Budget.aspxToday 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).Wed, 08 May 2013 12:45:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 Saskatchewan Budget.aspxToday Saskatchewan Finance Minister Ken Krawetz delivered the province’s 2012 budget. The budget anticipates a surplus of $14.8 million for 2012-13.Wed, 08 May 2013 12:41:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Purchased Debt Between Foreign Affiliates Triggers Subsection 17 (1) Benefit.aspxThe CRA recently said that debt of one controlled foreign affiliate that is acquired by another controlled foreign affiliate of a corporate group is not a "loan or advance" for purposes of the exception to the deemed interest rule.Tue, 27 Mar 2012 13:32:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Douglas — TCC Cancels Late-Filed T1135 Penalty.aspxIn Bruce W. Douglas v. The Queen (2012 TCC 73), the Tax Court of Canada (TCC) allowed the taxpayer's appeal to vacate a $2,500 penalty for the failure to file Form T1135, "Foreign Income Verification Statement" by the deadline.Mon, 26 Mar 2012 14:06:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlight of the 2012 Quebec Budget.aspxQuebec Minister of Finance and Minister of Revenue, Mr. Raymond Bachand, tabled the Quebec provincial budget for 2012-2013 earlier today.Wed, 08 May 2013 12:40:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ollenberger - No Active Business, No ABIL.aspxIn Randy J. Ollenberger v. The Queen, the Tax Court of Canada (TCC) denied the taxpayer's appeal to claim an allowable business investment loss (ABIL) of over $300,000 for an uncollectible loan on his 2007 income tax return.Tue, 13 Mar 2012 14:39:02 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/No Ontario Tax Refunds in 2011 for Low Income Earners.aspxThe Ontario Ministry of Finance has introduced a new "Ontario Trillium Benefit" monthly payment program that offers payouts of several former refundable Ontario tax credits for low- to moderate-income taxpayers in Ontario, beginning in July 2012.Tue, 20 Mar 2012 14:40:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/OECD Seeks Action on International Hybrid Mismatching Plans.aspxThe Organisation for Economic Co-operation and Development (OECD) has released a new report on what the tax authorities consider the most common types of hybrid mismatch arrangements.Thu, 22 Mar 2012 08:50:14 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Australia Sharpens GAAR's Teeth.aspxThe Australian government has announced it will strengthen Australia's general anti-avoidance rule (GAAR).Tue, 20 Mar 2012 14:50:19 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Comments on Charitable Donations Via a Deceased Taxpayer's Will.aspxIn a recent technical interpretation, the CRA was asked whether a deceased taxpayer would get a donation tax credit on his or her terminal return in certain situations. Tue, 13 Mar 2012 08:47:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Singapore — New Capital Gains Tax Regime.aspxSingapore's 2012 budget clarifies its tax treatment of capital gains.Tue, 13 Mar 2012 08:09:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2012 Federal Budget — Does Majority Mean Major Tax Changes.aspxFinance Minister Jim Flaherty will deliver the Conservative government’s 2012 federal budget on March 29, 2012.Wed, 08 May 2013 12:36:32 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/U.S. Encourages Individuals to E-File their FBARs.aspxThe U.S. Treasury Department is encouraging individuals to e-file Reports of Foreign Bank and Financial Accounts (FBAR). Tue, 13 Mar 2012 08:09:07 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/R and D Tax Incentives - Big Changes Afoot.aspxMany companies that do (R&D) in Canada benefit from government programs that provide funding and tax incentives to encourage and support their work.Wed, 08 May 2013 12:21:22 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Highlights of the 2012 British Columbia Budget.aspxToday British Columbia Finance Minister Kevin Falcon delivered the province’s 2012 budget.Wed, 08 May 2013 12:33:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/CRA Ignores Multiple Testamentary Trusts.aspxIn a recent TI, the CRA confirmed that multiple testamentary trusts would be designated to be a single trust where the testator's three children and the testator's spouse are viewed as a "class of beneficiaries" for each of the three trusts.Tue, 13 Mar 2012 08:46:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/Canada Concludes Tax Treaty Negotiations with China.aspxThe Canadian government has announced that an agreement in principle had been reached on an updated Canada-China tax treaty.Tue, 13 Mar 2012 08:08:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/B.C. Announces HST-PST Transitional Measures.aspxThe 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). Wed, 08 May 2013 12:15:11 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Tax-Adviser/Pages/FATCA Update for Canadian Financial Institutions.aspxThe IRS issued proposed regulations implementing the Foreign Account Tax Compliance Act (FATCA) on February 8, 2012. Tue, 13 Mar 2012 08:07:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/Ombudsman Finds Taxpayers Misunderstand SRandED Program.aspxThe Taxpayers' Ombudsman recently released its long-awaited report on the SR&ED program.Tue, 13 Mar 2012 08:44:32 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/CanadianTaxAdviser/Pages/No Change to CRA Prescribed Rate for Q2 of 2012.aspxThe government has announced that the CRA prescribed income tax interest rates for taxable benefits, overpaid taxes and underpaid taxes for the second quarter of 2012 (April 1-June 30, 2012) will remain the same as the current quarter.Fri, 16 Mar 2012 09:14:16 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Boost Your Savings with Tax-Savvy Plans.aspxWith 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.Wed, 08 May 2013 12:31:17 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2012 Alberta Budget Highlights.aspxAlberta Finance Minister Ron Liepert delivered the province’s 2012 budget on February 9, 2012. Wed, 08 May 2013 12:19:09 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/The-Taxation-Treatment-of-Islamic-Finance-in-Canada.aspxThis paper cuts through the complexity to help you understand the Canadian taxation of Islamic finance in Canada and aims to stimulate discussion among policy makers, regulators and financial service providers. Mon, 11 Jun 2012 13:42:32 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Real Estate Companies — Impact of New Corporate Partnership Rules.aspxIf 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...Wed, 08 May 2013 12:38:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Tax Accounting Round-Up — 2011 Tax Changes.aspxIf 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.Thu, 09 May 2013 10:46:48 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Understanding-the-impact-of-the-Copthorne-Case-on-GAAR-and-Tax-Planning.aspxFind out the insights and analysis on the Supreme Court's decision on Copthorne case.Tue, 15 May 2012 09:07:21 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Investment Income May Trigger Need to File Special GST Return.aspxMany 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.Wed, 08 May 2013 12:26:20 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Supreme Court’s Decision in Copthorne — Important GAAR Questions Remain.aspxThe Supreme Court of Canada recently rendered its long-awaited decision in Copthorne Holdings Ltd. V. R., 2011 SCC 63.Thu, 09 May 2013 09:05:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/2011.aspx2011 editions of the TNFThu, 12 Apr 2012 09:52:49 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Listen-to-KPMG-s-Webcast-Replay-Corporate-Partnerships-Lose-Tax-Deferral.aspxThis webcast reviews the complex new rules for corporations who carry on business in partnerships.Wed, 19 Dec 2012 15:54:24 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Canadian-Manufacturing-Outlook.aspxThis paper presents the results of the second annual Canadian survey of senior manufacturing executives. The findings reveal that despite all the alarm bells and focus around the economic volatility of 2011, manufacturers are optimistic. Fri, 01 Jun 2012 13:27:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/A-Guide-to-Canadian-Mining-Taxation.aspxKPMG’s A Guide to Canadian Mining Taxation outlines the provisions of Canada’s federal, provincial, territorial and other income tax legislation applicable to domestic and foreign mining activities. Fri, 08 Jun 2012 09:11:44 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Listen-to-KPMG-s-Webcast-Replay-New-rules-for-Canadian-companies-foreign-affiliates-webcast.aspxAugust 31, 2011 This webcast discusses what your tax department needs to know to tax-effectively structure and manage your company’s foreign affiliate-related obligations under Canada’s existing and proposed foreign affiliate rules.Fri, 26 Oct 2012 14:15:34 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Transfer-Pricing-Issues-and-Solutions-for-Digital-Media-2011.aspxTransfer Pricing Issues and Solution for Digital Media 2011Tue, 29 May 2012 10:30:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-SRED-Prescribed-Proxy-Amount-PPA-Policy.aspxAs part of the CRA’s SR&ED Policy Review Project, stakeholders were asked to comment on the CRA’s SR&ED Prescribed Proxy Amount (PPA) Policy PaperWed, 06 Jun 2012 07:12:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-SRED-Traditional-and-Proxy-Method-Policy.aspxAs part of the CRA’s Scientific Research & Experimental Development (“SR&ED”) Policy Review Project, stakeholders were asked to comment on the CRA’s SR&ED Traditional and Proxy Method Policy PaperWed, 06 Jun 2012 09:25:45 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/OverheadandOtherExpendituresPolicyPaper.aspxAs part of the CRA’s Scientific Research & Experimental Development (“SR&ED”) Policy Review Project, stakeholders were asked to comment on the CRA’s SR&ED Overhead and Other Expenditures Policy Paper.Fri, 08 Jun 2012 09:18:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Policy-on-the-Eligibility-of-Work-for-SRED-Investment-Tax-Credits.aspxAs part of the CRA’s Scientific Research & Experimental Development (“SR&ED”) Policy Review Project, stakeholders were asked to comment on the CRA’s SR&ED Policy on the Eligibility of Work for SR&ED Investment Tax Credits Paper Mon, 04 Jun 2012 11:59:39 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-Contract-Expenditures-for-SRED-Performed-on-Behalf-of-a-Claimant-Policy.aspxAs part of the CRA’s SR&ED Policy Review Project, stakeholders were asked to comment on the CRA’s Contract Expenditures for SR&ED Performed on Behalf of a Claimant Policy PaperTue, 15 May 2012 09:46:49 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-SRED-Assistance-and-Contract-Payments-Policy.aspxAs part of the CRA’s SR&ED Policy Review Project, stakeholders were asked to comment on the CRA’s “SR&ED Assistance and Contract Payments Policy (Draft) Paper”.Fri, 08 Jun 2012 13:08:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/FATCA-and-the-funds-industry-Defining-the-path.aspxKPMG International surveyed leading fund promoters in 12 countries to look at the key challenges the industry needs to address as a matter of urgency to prepare for FATCA implementations.Tue, 05 Jun 2012 11:40:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Indirect-tax-world-keeps-changing.aspxThis webcast discusses issues and planning opportunities relating to harmonization in Quebec and reviews key issues to help you understand if your organization transitioned to HST correctly.Wed, 19 Dec 2012 15:54:29 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/CRA-on-Tax-Avoidance-and-Audit-Trends.aspxOn Thursday, June 15th, 2011, KPMG’s senior Tax professionals hosted a panel discussion webcast on current CRA audit activities and find out practical tips on how to prepare for your next CRA audit.Fri, 02 Dec 2011 07:33:39 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-SR-ED-Lease-Expenditures-Policy.aspxThe firm’s views and recommendations for this part of the SR&ED Policy Review Project. Fri, 08 Jun 2012 13:22:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Review-of-SR-ED-Salary-or-Wages-Policy.aspxThis policy paper outlines the firm’s views and recommendations for this part of the SR&ED Policy Review Project. Thu, 07 Jun 2012 13:50:21 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/SR-ED-Capital-Expenditures-Policy.aspxKPMG Canada LLP’s (KPMG) response to this draft policy paper outlines the firm’s views and recommendations for this part of the SR&ED Policy Review Project Fri, 08 Jun 2012 09:20:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/AWorldinTransitionManagingtheTransferPricingImplicationsofComplexSupplyChains.aspxDesigned to help multinational companies stay current with transfer pricing rules worldwide.Thu, 28 Mar 2013 08:40:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/SREDSharedUseEquipmentPolicy.aspxKPMG Canada LLP’s (KPMG) response to this draft policy paper outlines the firm’s views and recommendations for this part of the SR&ED Policy Review Project.Tue, 05 Jun 2012 08:30:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Confronting-Complexity-Research-Findings-and-Insights.aspxKPMG interviewed 1,400 business leaders in 22 countries to provide an insightful snapshot of the extent and importance of complexity for businesses.Mon, 15 Apr 2013 09:35:08 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Proposed-bank-levies-Comparison-of-certain-jurisdictions-Edition-VI.aspxThis publication compares bank levies from various G20 and EU members. Thu, 31 May 2012 07:09:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Federal-Consultations-on-Taxation-of-Corporate-Groups.aspxThe Department of Finance launched formal consultations on the taxation of corporate groups. KPMG strongly supports Finance’s stated tax policy objectives for a new system for the taxation of corporate groups as set out in the consultation paper. Fri, 01 Jun 2012 10:52:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Global-Transfer-Pricing-Review-2011-Edition.aspxKPMG's Global Transfer Pricing Review, based on a 2010 survey by KPMG International member firms' transfer pricing practices, is designed to help multinational companies stay current with transfer pricing rules worldwide. Fri, 01 Jun 2012 10:51:13 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Transfer-Pricing-Topics-for-High-Tech-Companies.aspxThis publication looks at current transfer pricing regulations around the world and how they have been affected by the current economic environment and the way cross-border business is being conducted. Fri, 01 Jun 2012 10:24:56 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/2010-Branch-Capital-Attribution-Tax-Survey.aspxAn increased focus on the issue of taxation of branches of overseas banking and insurance entities has driven KPMG to update our previous survey of branch capital attribution produced in 2005.Fri, 01 Jun 2012 10:48:53 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/2010-Latin-America-Indirect-Tax-Guide.aspxLatin American tax payers, tax authorities and tax intermediaries have had to re-focus their objectives to properly address the many challenges, uncertainties and opportunities within the new business climate caused by the economic crisis.Fri, 26 Oct 2012 09:43:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Listen-to-KPMG’s-Webcast-Replay-The-Clock-is-Ticking–IFRS-and-Tax-Disclosures.aspxListen to KPMG’s Webcast Replay: The Clock is Ticking – IFRS and Tax Disclosures Wed, 15 Aug 2012 11:42:12 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/2010_Financial_Statements_of_Canadian_Banks.aspxA guide to financial reporting requirements & tax considerations for Canadian Banks.Fri, 26 Oct 2012 09:44:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Hedge-Funds-2010.aspxKPMG International’s Hedge Funds 2010 indicates new and extensive regulation that will pose questions as to what the future might hold.Thu, 07 Jun 2012 13:52:30 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Listen-to-KPMGs-Webcast-Replay-Ontario-and-BCHST–AreYouDoingItRight.aspxListen to KPMG's Webcast Replay: Ontario and BC HST – Are You Doing It Right?Wed, 15 Aug 2012 11:43:18 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/TheClockisTicking-IFRSTaxConversionWorkshop.aspxMost companies are getting ready for the changeover from Canadian GAAP to International Financial Reporting Standards (IFRS). This webcast works through the most common and complex tax issues facing tax directors as they apply the new standard.Wed, 15 Aug 2012 12:06:57 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/taxrates.aspxCanadian Corporate Income Tax RatesThu, 07 Feb 2013 13:28:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/taxratespersonal.aspxCanadian Personal Income Tax RatesTue, 09 Apr 2013 09:12:54 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Trade-Matters/Pages/Default.aspxTrade Matters is our quarterly newsletter that discusses recent developments in trade and customs.Wed, 25 Jul 2012 12:25:01 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Transfer-Pricing-Highlights/Pages/Default.aspxA catalogue of online KPMG Transfer Pricing publications.Wed, 31 Oct 2012 09:11:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/TNF/Pages/Default.aspxTax News Flash Selected tax policy and administrative developments.Wed, 08 May 2013 13:57:33 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Global-Indirect-Tax-Brief/Pages/Default.aspxThis publication series aims to look at a selection of local country VAT issues and topics on a pan-global basis. Mon, 06 May 2013 11:17:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/TimetoRethinkEmployeeStockOptionPlans.aspxCompanies that offer stock option plans to their employees may have to quickly re-evaluate these arrangements following significant changes to the tax treatment of stock options announced in the 2010 federal budget.Wed, 19 Dec 2012 15:54:31 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/KPMGTaxWebcastSeries.aspxKPMG Tax Webcast SeriesTue, 09 Apr 2013 13:05:55 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/2010FederalBudgetHighlights2.aspxOn Thursday, March 4, 2010, KPMG presented a webcast discussion on the 2010 federal budget.Thu, 31 May 2012 12:21:36 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/TheClockisTicking-AccountingforTaxesinYourIFRSConversionPlan2.aspxA discussion on the implications of IFRS conversion on income taxes. Find out about some of the common IFRS conversion issues related to income taxes that many companies are facing today.Thu, 31 May 2012 13:26:46 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/TheClockisTicking-AccoutingforTaxesinYourIFRSConversionPlan.aspxThe Clock is Ticking - Accouting for Taxes in Your IFRS Conversion PlanFri, 08 Jun 2012 08:18:25 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/Canada-USTreatyUpdateforCross-BorderCanadianEnterprises.aspxA discussion that highlighted the new Limitation on Benefits (LOB) provisions in the treaty, focusing on the definition of qualifying persons who are eligible for full treaty benefits and the application of the active trade or business test.Fri, 01 Jun 2012 08:03:57 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/TheClockisTickingAccountingforTaxesinYourIFRSConversionPlan.aspxThe Clock is Ticking – Accounting for Taxes in Your IFRS Conversion PlanFri, 26 Oct 2012 14:08:26 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/LastMinuteTaxTipsforSmallBusiness.aspxThis article was originally published in the National Post - Small Business Monday on December 21, 2009. The article covers the home renovation credit.Wed, 30 May 2012 11:00:03 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/GlobalTransferPricingReview.aspxKPMG's Global Transfer Pricing review is designed to help multinational companies stay current with transfer pricing rules worldwide. Compiled from information supplied by various KPMG member firm professionals who provide ...Wed, 30 May 2012 12:58:59 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/OntarioandBCLayOutRoadMaptoHarmonizedSalesTax-PlanYourRoutetoJuly1-2010.aspxAn analysis of how companies that do business in Ontario and British Columbia will be affected by the provinces' plans to harmonize their provincial sales tax and the federal GST.Wed, 30 May 2012 12:25:15 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/ThinkingBeyondBordersManagementofExtendedBusinessTravelersAmericas.aspxA series of three publications that highlight key tax issues that companies should consider for their extended business travelers — employees working abroad for more than 30 days, but less than 180 days per year...Wed, 30 May 2012 13:20:38 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/GoingPublic.aspxProvides a practical, realistic perspective on the IPO process for the Canadian IPO market, as well as for markets in the US and UK—from the decision to start, through to the unique demands of public company operations.Mon, 03 Dec 2012 07:10:35 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/DontDelayProtectingAssets.aspxThis article was originally published in the National Post - Small Business Monday on August 18, 2009.Fri, 25 May 2012 10:22:58 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/DownturnMayHaveanUpsideforEntrepreneursTaxPlanning.aspxThis article was originally published in the National Post - Small Business Monday on June 15, 2009.Fri, 24 Feb 2012 14:30:23 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/ShareSaleBestStrategyforOwners.aspxThis publication created by KPMG Enterprise looks at the tax implications entrepreneurs face when they make the decision to sell their business.Wed, 30 May 2012 10:51:42 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/OnTaxStrategiesEnterpreneursOftenOverlook.aspxThis article was originally published in the National Post - Small Business Monday on May 19, 2009.Tue, 05 Jun 2012 11:43:28 GMThttp://www.kpmg.com/Ca/en/IssuesAndInsights/ArticlesPublications/Pages/HistoricallyLowInterestRateCreatesTaxAdvantage.aspxThis article originally appeared in National Post - Small Business Monday on April 20, 2010. Wed, 06 Jun 2012 11:24:26 GMT