41 results

SUBJECT INDEX :
9.4 Miscellaneous

June 2010 Executive TaxBriefs

18. Is Your Family Trust Vulnerable to CRA?

Another great piece from David Louis on potential problems with family trusts.  As David notes, "[i]t is often unreasonable for accountants or financial planners to be expected to roll up their sleeves and understand the arcane trust and tax law underpinnings of a structure in...

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March 2010 Executive TaxBriefs

24. Are You Ready for the New Ontario and B.C. HST?

As noted in this recent February 8, 2010 TaxNewsFlash...

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February 2010 Executive TaxBriefs

22. Monthly and Annual Noon Exchange Rate Averages -Bank of Canada

If you are looking for the exchange rate history or any particular month or year, this exchange rate averaging information can be found on the Bank of Canada website at the following link http://www.bankofcanada.ca/en/rates/exchange_avg_pdf.html.

PWC has released is 2009 Year-End Planner for Individuals and Owner-Managed Businesses.  This useful summary provides information on the following areas of taxation:...

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October 2009 Executive TaxBriefs

27. HST - Key issues as B.C. and Ontario Convert to HST

In the August 2009 edition of the Canadian Tax Foundation’s Canadian Tax Highlights, Audrey Diamant of Price Waterhouse Coopers LLP, Toronto, summarizes some of the key changes for B.C. and Ontario residents under the proposed new HST regime, to take effect July 1, 2010. The author also speculates that with a majority of the ...

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October 2009 Executive TaxBriefs

6. GST/HST Memoranda - Sept 2009 - GST Ruling

This publication outlines CRA’s rulings and interpretations service in respect of the goods and services tax/harmonized sales tax (GST/HST), excise taxes, and other duties/taxes except for income tax rulings.  Unlike income tax advance tax rulings, ...

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September 2009 Executive TaxBriefs

24. Customs Duty Surprise for Importers of Goods from Related Companies (KPMG)

In this article KPMG points out that CRA has recently issued information on its policy concerning the treatment for customs duty purposes of certain payments or fees made by a Canadian purchaser to a related vendor after the goods have been imported into Canada. CBSA has taken a pos...

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September 2009 Executive TaxBriefs

21. Deloitte Updates Canadian Tax Rate Tables

In a recent addition of the Canadian Tax Highlights, featured, Deloitte notes that they have updates their Canadian Tax Rate tables effective October 27, 2009. The updated tables include the following:

  • Corporate income tax rates 2005-2012 (updated to April 30, 2009)
  • Capital tax 2008-2010 (updated to April 30, 2009)
  • Personal income tax rates (updated to June 30...

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September 2009 Executive TaxBriefs

5. GST/HST News No. 73

Among other items, this release provides a good discussion of the distinction between a joint venture and a partnership and explains the applicable GST/HST rules for same.


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July 2009 Executive TaxBriefs

17. CRA Forms, Guides and Publications

  • RC4052(E) - GST/HST Information for the Construction Industry
  • Publication - New SR&ED Claim Form and Guide (Addendum) Questions and Answers

CRA Forms, Guides and Publications - For more ...

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July 2009 Executive TaxBriefs

16. Technical Interpretation Note

Technical Interpretations ("TIs") are not published on CRA's website although inquiries regarding such items may be made directly to the Rulings Directorate in Ottawa at their general number (613) 957-8953, by facsimile at (613) 957-2088 or by e-mail: mailto:itrulingsdirectorate@cra-arc-gc.ca.

It is also useful to ...

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June 2009 Executive Tax Briefs

16. Technical Interpretations Note

Technical Interpretations ("TIs") are not published on CRA's website although inquiries regarding such items may be made directly to the Rulings Directorate in Ottawa at their general number (613) 957-8953, by facsimile at (613) 957-2088 or by e-mail: mailto:itrulingsdirectorate@cra-arc-gc.ca.

It is also useful to ...

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June 2009 Executive Tax Briefs

4. Additional Budget Commentaries

For Additional information on 2009 budgets please see the following links:

PricewaterhouseCoopers
Deloittes
Ernst &...

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June 2009 Executive Tax Briefs

17. CRA Forms and Guides

For more information check the specific guide or go to our link below for new releases. Numerous forms were updated this month, some of which are linked here and the full list can be found at Recently Added Forms and Publications under: What's New on the CRA website.

May 2009 Executive Tax Briefs

28. Ontario Sales Tax Harmonization by Deloitte

In a recent edition of their Canadian Indirect Tax News, Deloitte provides a summary of several potential issues to take into account when considering the impact of OHST on businesses.  While this article is of particular interest to those of you practicing in Ontario, for those in provinces which s...

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May 2009 Executive Tax Briefs

20. CRA Forms and Guides

May 2009 Executive Tax Briefs

18. Technical Interpretations Note

Technical Interpretations ("TIs") are not published on CRA's website although inquiries regarding such items may be made directly to the Rulings Directorate in Ottawa at their general number (613) 957-8953, by facsimile at (613) 957-2088 or by e-mail: mailto:itrulingsdirectorate@cra-arc-gc.ca.

It is also useful to note that CRA mai...

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May 2009 Executive Tax Briefs

19. Aboriginal Tax Officer

In a recently released pamphlet entitled "Explore Your Opportunities with the Aboriginal Tax Officer Apprenticeship Program" CRA is inviting qualified Aboriginal graduates of college and university as well as those who are in their final year of a degree or diploma program to apply for positions in areas such as audit, taxpay...

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May 2009 Executive Tax Briefs

4. Budget Commentaries

For additional information on the 2009 Budgets see the following sites: 

PricewaterhouseCoopers
Deloittes
Ernst & Young


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May 2009 Executive Tax Briefs

6. IT-INDEX - Income Tax Interpretation Bulletins and Technical News

This release by CRA, Income Tax Interpretation Bulletins and Technical News INDEX reflects interpretation bulletins, special releases, and technical news issued on or before December 31, 2008. It provides a handy list of technical bulletins cross-referenced to applicable sections of the Income Tax Act.  This index is...

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April 2009 Executive Tax Briefs

16. CRA Forms Guides Releases

July 2008 Executive TaxBriefs

4. News 68 Excise and GST/HST News - Spring 2008-06-24

In this release of GST/HST News, CRA comments on GST aspects in a number of areas of interest to practitioners, most notably a discussion of GST issues relating to health care professionals, small supplier divisions, tourism industry, and other administrative matters....

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April 2008 Executive TaxBriefs

21. RDTOH and Share Valuation

TI2007-0243231C6 was issued 07/10/05 in response to Question 20 of the Round Table on Federal Taxation at the 2007 APFF Conference.

CRA was queried whether a corporation's RDTOH should be taken into account in valuing the corporation's shares for the purposes of an estate freeze.  This TI provides good informa...

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January 2009 Executive TaxBriefs

21. Need Help with your Bookkeeping Needs?

Many public practitioners complain about the problems created by untrained bookkeeping staff.  In many cases the use of the numerous software accounting programs has in fact made accounting for private businesses more complicated with untrained staff creating a financial mess which is typically dumped at the door of the business’s professional accounting firm at year-end leaving the profes...

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December 2008 Executive TaxBriefs

34. CTF 2008 CRA Roundtable - "10-8s", Donations, Eligible Dividends, etc.

Members of the Meritas Tax Group in attendance at the 2008 Annual Canadian Tax Foundation Conference reported that CRA has made a number of announcements at the Roundtable presentation.  While we won’t have the exact details until they are published by CTF’s website in a few days, what we have heard is that CRA will be initiating an audit of so-called "10-8" loan arrangements commencing in...

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December 2008 Executive TaxBriefs

30. Royalty Payments on Imported Products Excluded from Customs Value

In its November 2008 TaxMatters@EY, Werner Kreissi of E&Y’s Montreal office writes that in certain cases Canadian importers could effectively exclude royalty payments from a customs value.  This view is based on decisions involving Mattel and Reebok where the Canadian courts established that in ...

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December 2008 Executive TaxBriefs

29. No Prescribed Form for S.250(5) Treaty Based Non-Residents Claim

S.250(5) of the Tax Act was designed to prevent the formation of a corporation outside Canada thus qualifying it as a non-resident under most treaty tie-breaker rules but with management and control in Canada, which is the  common-law definition of residence.  Using the rules in this manner allowed a foreign in...

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December 2008 Executive TaxBriefs

25. BC Carbon Tax Forms Part of GST Base

In this August 27, 2008 letter to BC Finance Minister Colin Hansen, Jim Flaherty, the Federal Minister of Finance confirms that the BC carbon tax will be part of the GST base by virtue of being built into the final amount charged for a good or service. This result flows from the general rule that was adopted at th...

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December 2008 Executive TaxBriefs

17. Excise and GST/HST News 70

Topics includes in this release include:  Applications under the Excise Tax Act, Incentive trips, Hunting and fishing packages, and taxidermy, Purchases of new housing and the GST/HST transitional rebate, New eligibility criteria for the new residential rental property rebate, Sale of goods on or off a reserve t...

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December 2008 Executive TaxBriefs

9. 2009 Canada Pension Plan Rates

The CRA announced that the maximum pensionable earnings under the Canada Pension Plan for 2009 will be $46,300—up from $44,900 in 2008. The new maximum pensionable earnings amount was calculated according to a CPP legislated formula that takes into account the growth in average weekly wages and salaries i...

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September 2008 Executive TaxBriefs

25. Quick Tax Facts 2008 by Deloitte

This two page summary gives a snap shot of the Federal and Provincial taxes applicable corporately as well as combined Federal and Provincial/Territorial income tax for individuals based on varying levels of ordinary income.  Also included is a brief summary of the key tax treaty withholding rates fo...

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September 2008 Executive TaxBriefs

10. Form T1261 for Non-Residents Requiring a Tax Number

TI2008-0275871C6 was issued 08/07/25 in response to Question #7 posed at the June 2008 STEP National Conference.

CRA was queried:  What is the purpose of form T1261? Is it a prescribed form?  When must a non-resident taxpayer obtain an individual tax number?

Response:   Form ...

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July 2008 Executive TaxBriefs

26. GST - Not a Financial Institution? Think Again!

A recent amendment to the Excise Tax Act now requires a financial institution to file a Form 111, Schedule 1 - Financial institution GST/HST Annual Information Schedule. The form consists of 8 pages requiring information that is not always readily ascertainable from the books and records normally maintained by companies.

Tom Baybutt, a senior tax manager and GST specialist with MacKay LL...

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June 2008 Executive TaxBriefs

21. Call to House of Commons to Wake Up to Tax Laws

Michael Kandev of Davies Ward Phillips & Vineberg LLP in a recent May 1st  article in the Financial Post was highly critical of the House of Commons efforts in passing Bill C-10 which he alleges bungled new film tax credit provisions, as well as  the new provisions on restrictive covenants and the...

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February 2008 Executive TaxBriefs

19. GST On Sales of Real Property

In a recent article contained in the January 2008 edition of the CCH’s Canadian GST Monitor, Brent F. Murray of Wilson & Partners LLP, the "in-house"  PriceWaterhouseCooper’s law firm, reviews a number of common tips and traps involved in the application of GST with respect to the sale of real property.  As Mr. Murray points out, the two common issues are whether or not the sale o...

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November 2007 Executive TaxBriefs

17. Owner Manager Year End Tips

In the October 2007 edition of Canadian Tax Highlights, a publication of the Canadian Tax Foundation, Louis Provenzano and Ruby Lim of PricewaterhouseCoopers LLP of Toronto provide a checklist of items that advisers should consider when planning for owner-manager remuneration.  Items identified include ...

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November 2007 Executive TaxBriefs

15. Fifteen Ways to Reduce Taxes

In its October 2007 TaxBreaks publication Deloitte sets out its annual list of techniques for an individual to reduce their income tax liability.  Most of the suggestions are fairly obvious but if you or your clients are looking for some ideas, check out the link to Deloitte’s newsletter which ...

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November 2007 Executive TaxBriefs

5. Proposed GST/HST Rate Reduction in 2008 - GST/HST Notice 226

The GST rate reduction announced in the October 30, 2007 Economic Statement contains several transitional rules for transactions that straddle the January 1, 2008 implementation date.

CRA issued this Notice concerning these transitional rules in a question and answer format, noting that additional que...

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November 2007 Executive TaxBriefs

4. 2008 Canada Pension Plan Premiums

The following details were announced on November 2, 2007:

  • the maximum pensionable earnings under the Canada Pension Plan (CPP) for 2008 will be $44,900 - up from $43,700 in 2007.
  • the basic exemption amount for 2008 remains $3,500. Individuals who earn less than that amount do n...

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November 2007 Executive TaxBriefs

3. 2008 Employment Insurance Rate Cut

Hot on the heels of the economic statement, the government announced on November 1, 2007 that the EI premium rate for employees will fall to $1.73 from its current level of $1.80 per $100 of insurable earnings, effective January 1, 2008. The rate paid by employers will be reduced as well, to $2.42 from $2.52 per $100 of insurable...

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October 2007 Executive TaxBriefs

12. Capital Tax Update

In the August 2007 edition of Canadian Tax Highlights published by the Canadian Tax Foundation, Louis Provenzano and Ruby Lim of PriceWaterhouseCoopers LLP, Toronto provide a summary of the state of capital taxes throughout the country.  As noted in their article, the Federal government has eliminated the Large Corporations Tax for all corporations after 2005 and to encourage the demise of ca...

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