Category: Tax News

Commute this pension or not? Part 2

Commute this pension or not? Part 2 In October 2016, I was quoted in an article about whether to commute a defined-benefit pension. A reader asked if my answer about whether to commute Georgi’s pension would be different if the following variables were changed: His pension is indexed. It is an Ontario Teachers’ pension. He

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Category: Tax News

Tax-News.com: British Columbia Issues Reminder On Carbon Tax Relief

Tax-News.com: British Columbia Issues Reminder On Carbon Tax Relief by Mike Godfrey, Tax-news.com, Washington 02 February 2017 The British Columbia Government has issued a reminder to commercial greenhouse operators that the deadline for applications for this year’s greenhouse carbon tax relief grants is March 20, 2017. The annual grant covers 80 percent of the carbon

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Category: Tax News

Tax-News.com: British Columbia To Amend Foreign Buyers Tax

Tax-News.com: British Columbia To Amend Foreign Buyers Tax by Mike Godfrey, Tax-news.com, Washington 31 January 2017 The British Columbia Government is to amend the foreign buyers tax to exempt those with work permits. Premier Christy Clark said: “We are going to lift the foreign owners tax on people who have work permits who are paying

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Category: Tax News

Tax-News.com: OECD Progresses With MAP Peer Review Work

Tax-News.com: OECD Progresses With MAP Peer Review Work by Ulrika Lomas, Tax-News.com, Brussels 31 January 2017 The OECD is seeking taxpayers’ input on the mutual agreement procedure frameworks in place in the second batch of countries that will now be peer reviewed under Action 14 of the OECD’s base erosion and profit shifting Action Plan.

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Category: Tax News

Tax-News.com: Canadian Manufacturers Call For Boost To Tax Competitiveness

Tax-News.com: Canadian Manufacturers Call For Boost To Tax Competitiveness by Mike Godfrey, Tax-news.com, Washington 31 January 2017 Industry body Canadian Manufacturers and Exporters (CME) has urged the Canadian Government to create a globally competitive business tax structure that supports growth. CME has released “Manufacturing a Competitive Business Environment in Canada,” the first of five reports

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Category: Tax News

No foreign buyers tax for those with work permits: B.C. premier

No foreign buyers tax for those with work permits: B.C. premier British Columbia is amending its tax on foreigners buying property in Metro Vancouver. Read: No foreign buyer tax in Ontario Premier Christy Clark says the levy will be lifted for those who have a work permit and pay taxes in B.C., in order to

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Category: Tax News

Filing taxes after someone has died

Filing taxes after someone has died Dealing with the death of a loved one is difficult. So, the last thing you’ll want is for a client to have to figure out how to handle someone’s taxes after they pass away. When discussing a client’s estate plans, consider sharing the following steps with them and their

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Category: Tax News

Tax-News.com: EU Provides Update On Ongoing Free Trade Talks

Tax-News.com: EU Provides Update On Ongoing Free Trade Talks by Ulrika Lomas, Tax-News.com, Brussels 26 January 2017 The European Parliament has provided an update on the trade agreements under negotiation by the EU. Parliament’s International Trade Committee on January 24 voted in favor of the Comprehensive Economic Trade Agreement (CETA) with Canada. Parliament as a

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Category: Tax News

CRA business-inquiries phone line gets a C-

CRA business-inquiries phone line gets a C- Third time isn’t a charm for the CRA’s business inquiries phone line. As part of its red tape awareness week, the Canadian Federation of Independent Business (CFIB) has conducted its third secret shopper evaluation of  CRA’s call centre, giving it a grade of C-minus. Read: CRA tweaks process

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Category: Tax News

CI figures out how clients will be taxed on payments related to no-contest settlement

CI figures out how clients will be taxed on payments related to no-contest settlement CI Investments has worked out a tax arrangement after an administrative error had left hundreds of thousands of clients short a collective $156.1 million. Last year, we reported on the record no-contest settlement between CI Investments and the OSC regarding understated

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