Tax-News.com: US To Renegotiate NAFTA, Not Terminate It

Tax-News.com: US To Renegotiate NAFTA, Not Terminate It by Mike Godfrey, Tax-News.com, Washington 27 April 2017 President Donald Trump has said the US will not yet terminate the North American Free Trade Agreement (NAFTA). Trump tweeted that he had spoken to Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto. He wrote: “I […]

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Ontario raises limits for disability support

Ontario raises limits for disability support Clients using the Ontario Disability Support Program can soon hold larger amounts in liquid assets without the program clawing back their benefits. Ontario’s 2017 budget, released Thursday, says the government is raising the exempt asset limits for people using the ODSP, helping them to save more and avoid the […]

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Tax-News.com: Canada To Fight US Lumber Duties

Tax-News.com: Canada To Fight US Lumber Duties by Mike Godfrey, Tax-news.com, Washington 26 April 2017 Justin Trudeau has told Donald Trump that his Government will “vigorously defend” the interests of the Canadian softwood lumber industry, following the announcement of new US countervailing duties on Canadian imports. According to a statement from the Canadian Prime Minister’s […]

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Tax-News.com: Canada Responds To 'Unfair' US Lumber Tariff

Tax-News.com: Canada Responds To 'Unfair' US Lumber Tariff by Mike Godfrey, Tax-news.com, Washington 25 April 2017 The Canadian Government has said it “disagrees strongly” with the US Department of Commerce’s decision to impose “unfair and punitive” duties on imports of Canadian softwood lumber. The Department of Commerce has determined that Canadian softwood lumber imports are […]

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New seg fund rules could reduce taxes for investors

New seg fund rules could reduce taxes for investors Past federal budgets have targeted insurance strategies such as 10/8s and life insurance transfers to corporations. This year’s budget proposals were mostly silent on insurance issues, except to extend the rules for mutual fund mergers to segregated funds. The Income Tax Act allows mutual fund issuers […]

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Ready for tax planning automation?

Ready for tax planning automation? A report last year by the Brookfield Institute, at Ryerson University, claimed 98% odds that the jobs of accountants and bookkeepers would be automated. An online tool by the BBC similarly says the probability for certified accountants is 95% within 20 years. That would make the next two decades, or […]

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What new seg funds rules mean for you

What new seg funds rules mean for you Past federal budgets have targeted insurance strategies such as 10/8s and life insurance transfers to corporations. This year’s budget proposals were mostly silent on insurance issues, except to extend the rules for mutual fund mergers to segregated funds. The Income Tax Act allows mutual fund issuers to […]

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Taxpayer charged with fraud and forgery for false returns

Taxpayer charged with fraud and forgery for false returns CRA has filed multiple tax fraud and criminal charges against a Newfoundland man. At the conclusion of a joint investigation with Newfoundland provincial police, CRA filed 28 tax fraud charges under the Income Tax Act and three charges under the Criminal Code against Raymond Mahoney, a […]

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Tax-News.com: Ontario To Introduce Foreign Buyers Property Tax

Tax-News.com: Ontario To Introduce Foreign Buyers Property Tax by Mike Godfrey, Tax-news.com, Washington 21 April 2017 The Ontario Government will introduce a 15 percent Non-Resident Speculation Tax on purchases of residential property in the Greater Golden Horseshoe region. According to the Government, the NRST will help to address unsustainable demand in the region. Toronto is […]

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