Category: Tax News

What CRA had to say at STEP

What CRA had to say at STEP Always hotly anticipated, the annual CRA roundtable at the Society of Trust and Estate Society Practitioners (STEP) National Conference features CRA representatives answering tough questions on tax policy and administration. This year’s edition, held June 13, was packed with insights — and a touch of humour. The 15

Continue Reading…

Category: Tax News

What CRA had to say at STEP, Part 2

What CRA had to say at STEP, Part 2 The annual CRA roundtable at the Society of Trust and Estate Society Practitioners (STEP) National Conference allows attendees to hear directly from agency representatives about tax policy and administration. This year’s roundtable, held June 13, was moderated by Paul LeBreux of Globacor Tax Advisors Professional Corporation

Continue Reading…

Category: Tax News

Small business tax regime almost ‘unworkable’

Small business tax regime almost ‘unworkable’ Ottawa’s changes to the private corporation and small business tax rules have made the new regime so complex that it’s almost unworkable, tax experts said at a conference panel Monday. Speaking at the Society of Trust and Estate Practitioners’ annual conference in Toronto, panelists said rules around associated corporations,

Continue Reading…

Category: Tax News

Tax-News.com: Canada To Amend Voluntary Disclosure Program

Tax-News.com: Canada To Amend Voluntary Disclosure Program by Mike Godfrey, Tax-news.com, Washington 12 June 2017 The Canadian Government has announced a consultation on proposed changes to the Voluntary Disclosures Program (VDP) that will narrow the eligibility criteria and make the regime less generous. The VDP provides taxpayers with an opportunity to voluntarily come forward and

Continue Reading…

Category: Tax News

Tax-News.com: OECD Seeks Taxpayer Input On BEPS Action 14 Peer Reviews

Tax-News.com: OECD Seeks Taxpayer Input On BEPS Action 14 Peer Reviews by Ulrika Lomas, Tax-News.com, Brussels 12 June 2017 The OECD is seeking taxpayers’ input on the mutual agreement procedure (MAP) frameworks in place in the third batch of countries that will now be peer reviewed under Action 14 of the OECD’s base erosion and

Continue Reading…

Category: Tax News

Understanding the new T1135

Understanding the new T1135 Editor’s note: we have updated this article to reflect tax rules as of June 2017. It was originally published in 2015 by François Bernier. CRA’s revised Form T1135 requires taxpayers to provide significantly more information about their foreign property. This article explains the new rules. Who has to file a T1135?

Continue Reading…

Category: Tax News

CRA seeks comment on proposed changes to VDP tax program

CRA seeks comment on proposed changes to VDP tax program For several years, the CRA has increasingly sought to crack down on so-called tax cheats. In a June 9 release, the government and CRA say “some wealthy Canadians continue to find ways to not pay what they owe, which places an unfair burden on Canadians,”

Continue Reading…

Category: Tax News

Tax-News.com: Clarity Sought On CRA Employment Insurance Rulings

Tax-News.com: Clarity Sought On CRA Employment Insurance Rulings by Mike Godfrey, Tax-news.com, Washington 09 June 2017 The Canadian Taxpayers’ Ombudsman has called on the Canada Revenue Agency (CRA) to make more information available on its Canada Pension Plan (CPP) and Employment Insurance (EI) decisions process. A CPP/EI ruling is an official decision made by the

Continue Reading…

Category: Tax News

Tax-News.com: Canada Explains Tax Treaty Changes To Prevent Abuse

Tax-News.com: Canada Explains Tax Treaty Changes To Prevent Abuse by Mike Godfrey, Tax-news.com, Washington 09 June 2017 The Canadian Government has explained how it will incorporate into its tax agreements new provisions to counter base erosion and profit shifting, having signed the OECD’s multilateral instrument on tackling treaty abuse. The Canadian Government said that the

Continue Reading…

Category: Tax News

Tax-News.com: Canada To Amend DTAs With Germany, Switzerland

Tax-News.com: Canada To Amend DTAs With Germany, Switzerland by Mike Godfrey, Tax-news.com, Washington 08 June 2017 The Canadian Government has announced its intention to update its double tax agreements (DTAs) with Germany and Switzerland. The Government said on June 7 that negotiations with each country will be held this month. The Government has asked interested

Continue Reading…