Tax Alert Archives August 2016

CRA Says It Will Issue Clearance Certificates for Partial Estate Distributions

The CRA said that legal representatives of a graduated rate estate may apply for a clearance certificate for a partial distribution of assets and the process to request a partial clearance certificate is the same as with other types of…

Prepared by: Ken Jiang

Ken Jiang is a partner in the Vancouver office of Thorsteinssons LLP. His practice focuses on domestic and international tax planning.  His clients include individuals, private and public corporations, trusts, charities, financial institutions, and public bodies. He also represents clients… more »

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CRA’s Updated Folio on Disability Tax Credit

The CRA has recently updated the income tax folio “S1-F1-C2, Disability Tax Credit”.  The updated folio can be viewed here: http://www.cra-arc.gc.ca/tx/tchncl/ncmtx/fls/s1/f1/s1-f1-c2-eng.html

Prepared by: Ken Jiang

Ken Jiang is a partner in the Vancouver office of Thorsteinssons LLP. His practice focuses on domestic and international tax planning.  His clients include individuals, private and public corporations, trusts, charities, financial institutions, and public bodies. He also represents clients… more »

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CRA Releases Statistics on Offshore Tax Informant Program

CRA released statistical information regarding its Offshore Tax Informant Program (OTIP). Since its launch on January 15, 2014, the OTIP allows the CRA to make financial awards to individuals who provide information related to major international tax-non-compliance. The details of…

Prepared by: Ken Jiang

Ken Jiang is a partner in the Vancouver office of Thorsteinssons LLP. His practice focuses on domestic and international tax planning.  His clients include individuals, private and public corporations, trusts, charities, financial institutions, and public bodies. He also represents clients… more »

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CRA Requires Taxpayers to Provide Support for U.S. Foreign Tax Credits

At the 2016 STEP Round Table, the CRA noted that since 2015, taxpayers are required to provide supporting documents for claims of U.S. foreign tax credits. The same requirement has always applied to all countries other than the U.S. The…

Prepared by: Ken Jiang

Ken Jiang is a partner in the Vancouver office of Thorsteinssons LLP. His practice focuses on domestic and international tax planning.  His clients include individuals, private and public corporations, trusts, charities, financial institutions, and public bodies. He also represents clients… more »

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