Massive overhaul on the horizon – Significantly expanded form T1134
Be prepared for sweeping information disclosure changes related to reporting of foreign affiliates to form T1134 coming in 2021.
Ways to optimize estate planning in the wake of COVID-19
An estate freeze provides a valuable opportunity for business owners to minimize tax both in the short term and in the long term.
Tax updates in Canada in response to COVID-19
Our tax alert summarizes the latest tax measures by federal and certain provincial government authorities amid the coronavirus pandemic.
Are employment insurance benefits deductible from IRB entitlements?
Due to the varied nature of employment insurance benefits, some may be deductible and others may not, and case law will have to decide.
Krumm versus The Queen decision clarifies tax shelter definition
Would property be a tax shelter if the tax attributes are communicated but the tax benefits are not? In Krumm, the TCC held that it would.
Taxing the gig economy
With an increase in digital economy, understanding the OECD’s Model Rules for tax reporting for the gig economy are especially important.
Recent Provincial Sales Tax Updates
A summary of provincial sales tax updates released by the Provinces of Saskatchewan and British Columbia in recent months.
Tax considerations of operating a branch in Canada
It’s important to consider the tax consequences of a entering or expanding into the Canadian market as a multinational enterprise.
The Atlantic Packaging v The Queen: When procedure trumps substance
When appealing a case in Tax Court, taxpayers should frame issues right from the audit stage to have a solid litigation backup.
Reduce indirect tax related costs and risks in not-for-profit sector
The article focuses on indirect tax strategies for organizations in the not-for-profit sector to improve liquidity and reduce risk.
Canadian tax integration of private company income
These tables provide an illustration of how the Canadian income tax integration system works. Integration is approximate.
2020 • Third Quarter • Issue 131
This edition of Tax, Tips & Traps discusses: Working From Home; Real Estate Projects; Loans for Value; OAS Deferral; Unreasonable Allowances; Employment Insurance; Changes to Payroll; Temporary Lay-offs; and Video Conferencing Tips.
Restrictive covenant and the share sale veto right
The Canada Federal Court of Appeals decision in Pangaea raises new considerations on the definition of restrictive covenants.
FCA confirms that a space trip is taxable to company shareholders
Find out how shareholder benefits could arise and the potential income tax implications as a result of the In Laliberté vs Canada decision.
Indirect tax issues affecting cash flow in the real estate sector
An overview of several indirect tax issues that affect the cash flow of businesses across the real estate and construction sectors.
Canada’s economic outlook more optimistic than before
The Real Economy, Canada shines a light on the economic impact of the pandemic so far, the near-future outlook, and recovery measures.
The ABCs of real estate investment trusts for rental real estate
RSM Canada’s article on real estate rental REITs highlights the requirements to qualify as a REIT and tax consequences for the investors.
Ways to optimize estate planning in the wake of COVID-19
A Capital Dividend Account allows a shareholder to access corporate surplus tax-free, but timing is critical.
How to determine filing obligations for financial institutions
FIs who fail to file returns on time could face significant financial penalties, making it imperative to determine their filing obligations.
GST/HST under Canada Emergency Commercial Rent Assistance Program
Our authors summarize the GST/HST implications of forgivable loan payments and rent reduction offered by commercial landlords under CECRA.