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Elimination of tax deferral for joint venture participants

Since 1989, the Canada Revenue Agency (CRA) has administratively permitted a joint venture (JV) to have a fiscal period that was different from the fiscal periods of the JV participants. In many cases, this policy has allowed a JV participant to realize a tax deferral similar to that enjoyed by corporate partners of a partnership. [December 16, 2011] More...

Guidance for US citizens resident outside the US

The IRS has recently released a fact sheet to address a number of issues of concern to US citizens or dual citizens who reside outside of the US. The issues revolve around the failure to make certain required filings—specifically, federal income tax returns and Reports of Foreign Bank and Financial Accounts (FBARs). [December 9, 2011] More...

Reminder: Quebec sales tax rate increases on January 1, 2012

On January 1, 2012, the Quebec Sales Tax (QST) will increase by 1% to 9.5%. [December 6, 2011] More...

Grace period ends for most tax-exempt entities

Municipalities and most other tax-exempt entities that do not complete and file their corporate income tax returns may find that their GST/HST rebates and refunds will be withheld by the Canada Revenue Agency (CRA). [November 29, 2011] More...

Straight from the source—OECD on course for draft guidance on transfer pricing for intangible assets

An overview of the developments that came out of the three-day conference where representatives of OECD member country tax administrations met with multinational businesses and experts to discuss the future of the transfer pricing aspects of intangible assets. [November 24, 2011] More...

Donating public company shares to a charity

Have you ever considered donating publicly traded securities such as stocks and bonds to a charity? This is a smart and tax-effective alternative to the donation of cash. How you structure your charitable donations can be as important as the amounts you give—both for the charity and for you as the donor. [November 23, 2011] More...

Upcoming changes to the CPP rules

The Canada Pension Plan (CPP) rules are changing, with the majority of these changes effective January 1, 2012. These new rules will impact you if you’re between the ages of 60 and 70, and have either started collecting CPP benefits or will soon have to decide when to start collecting benefits. [November 17, 2011] More...

Action required: pension plans must provide information by November 15

Pension and other investment plans that invest in distributed investment funds and other investment plans may be required to provide certain information without receiving a formal request. [November 11, 2011] More...

First Nations: When is interest income tax-exempt?

A recent Supreme Court of Canada (SCC) decision, Dubé v The Queen, has resulted in a significant change in the legal landscape with regard to the tax exempt status of interest income for members of the First Nations community [November 3, 2011] More...

Update on private and public company shares held in your RRSP

If you hold private or public company shares in your RRSP, new measures originally proposed as part of the 2011 federal budget could have an impact on you. [October 20, 2011] More...

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