New Chief Justice of the Tax Court of Canada
On December 19, 2014, Prime Minister Stephen Harper announced the appointment of the Honourable Eugene Rossiter as Chief Justice of the Tax Court of Canada. He replaces the Hounourable Gerald J. Rip.
Tax Alert Archives December 2014
Update of SR&ED Policies
On December 18, 2014, the CRA released 17 revised policies on SR&ED expenditures and the calculation of investment tax credits. A list of revised policy documents can be found on the CRA’s website: http://www.cra-arc.gc.ca/txcrdt/sred-rsde/whtsnw/fnnclplcydcmnts-eng.html
Prepared by: Kim Ho
CRA announces Q1 2015 prescribed interest rates
The CRA announced the prescribed interest rates for the period from January 1, 2015 to March 31, 2015. There are no changes to the prescribed interest rates since last quarter except for the interest rate for corporate taxpayers’ pertinent loans…
Prepared by: Kim Ho
December 31, 2014 Deadline for Taxpayer Relief
A reminder: Individuals have until December 31, 2014 to apply for relief under the “Taxpayer Relief Provisions” with respect to their 2004 year.
Prepared by: Kim Ho
The Latest Income Tax Folio – S4-F7-C1: Amalgamations of Canadian Corporations
The CRA is replacing its interpretation bulletins with Income Tax Folios. This project will take several years. The latest chapter released by the CRA is on the amalgamation of Canadian corporations, which replaces and cancels Interpretation Bulletin IT-474 R2, Amalgamation…