The Canadian Scene: Where the tax are we going?
Tax 2017 Expert Guide, Corporate Livewire
Bob Dylan wrote a song that had the phrase: “For the times they are a changing”. Now, the song was written in the 60’s and it had to do with the political environment. Here we are in 2017 and in Canada, when it comes...
Whistleblowers and the Evidentiary Challenges in Offshore Tax Evasion Cases
Canadian Tax Journal, Vol. 65, No. 3
The article provides a high-level overview and comparison of the US and Canadian whistleblower programs. Whereas the us experience has resulted in the recovery of significant unreported tax dollars and successful tax prosecutions, the Canadian whistleblower program has, to date, had limited success.
Important Proposed Amendments to the Taxation of Private Corporations
Overview In its 2017 Federal Budget release, the Federal Government noted a continued concern with tax planning strategies involving private corporations. While no new measures or amendments to existing rules were released as part of the 2017 Federal Budget, Canadian...
The Alberta Investor Tax Credit
Introduction On January 1, 2017, the Investing in a Diversified Alberta Economy Act (the “Act”) came into force. The Act is part of the Alberta Jobs Plan, and its objectives are to boost investment in Alberta’s small and medium-sized businesses,...
Introduction
On March 22, 2017, Minister of Finance Bill Morneau tabled the 2017 Federal Budget entitled “Building a Strong Middle Class” (the “Budget”). As is often the case, there was much speculation regarding the Budget, both with respect to how the...
International Tax Measures
International Tax The Budget has only 1 proposed income tax change in the area of international tax. This relates to foreign branches of Canadian resident life insurers. As such, the proposed change is not applicable, and probably not of interest...
Business Income Tax Measures
Investment Fund Mergers The Budget seeks to expand the scope of rules which apply to generally permit the merger of certain investment funds on a tax-deferred basis. As further explained below, these rules will apply to permit the reorganization of...
Personal Income Tax Measures
Disability Tax Credit – Nurse Practitioners The Budget seeks to extend to nurse practitioners the ability to certify that an individual is eligible to receive the disability tax credit available under the Tax Act. The disability tax credit is a...
GST/HST Tax Measures
Taxi and Ride Sharing Services The Budget proposes to extend the application of the GST/HST currently applicable to taxi businesses to ride sharing services. Currently, all operators of a “taxi business” (which is defined in subsection 123(1) of the Excise...
Other Measures
Aboriginal Tax Policy In successive budgets since 1997, the Federal Government has expressed its willingness to put into effect taxation arrangements with interested Aboriginal governments. To date, the Federal Government has entered into more than 50 taxation arrangements in respect...
