Tax Alert Archives October 2014

CRA on s. 75(2) and Contributions of Limited Partnership Interests

In 2013-0476871E5, the CRA commented on whether subsection 75(2) of the Income Tax Act (Canada) applies where a settlor contributes an interest in a limited partnership to a trust and under the terms of the trust the partnership interest…

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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Government of Canada Tables Notice of Ways and Means Motion

On October 20, 2014, the Government of Canada tabled in the House of Commons a Notice of Ways and Means Motion, which includes various measures tabled on October 10, 2014, in addition to a new measure that amends…

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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CRA on Net Capital Losses for Health & Welfare Trusts

In 2013-0506691I7, the CRA stated that Health & Welfare Trusts are permitted to deduct net capital losses when computing taxable income under Division C of the Income Tax Act or adjusted taxable income under Division E.1 of the Income…

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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CRA comments on whether the premium on the redemption of foreign affiliate shares is a dividend or proceeds of disposition

In 2014-0528361E5, the CRA responded to a query in respect of previous Rulings document 2012-0439741I7 which had indicated that the premium on redemption of certain foreign affiliate shares (mandatory redeemable preference shares) would be characterized as a dividend. …

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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Former CRA Employee Fined and Sentenced to 18-month Conditional Sentence for Income Tax Evasion

Former CRA Employee Fined and Sentenced to 18-month Conditional Sentence for Income Tax Evasion. Click here for more information.

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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Department of Finance – Annual Financial Report Released

On October 6, 2014 the Department of Finance Released its Annual Financial Report for the Fiscal Year 2013-2014 and the Backgrounder: Highlights From the Annual Financial Report for 2013-14

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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