On July 11, 2017, the OECD Committee on Fiscal Affairs released the draft contents of the 2017 update to the OECD Model Tax Convention. The 2017 update primarily comprises changes to the OECD Model Tax Convention that have been…
The CRA has released Draft IC00-1R6 – Voluntary Disclosure Program for discussion purposes only. If published in its current form, IC00-1R6 would drastically alter the existing scope and parameters of the CRA’s voluntary disclosure program.
Draft IC00-1R6 here: https://www.canada.ca/en/revenue-agency/campaigns/ic00-1r6-voluntary-disclosures-program.html
The CRA boasts increased reporting, compliance and audit measures in support of its commitment to protecting the fairness and integrity of the Canadian tax system, as it relates to ensuring a healthy and stable housing market.
Read more here: Prepared by:
Asif Abdulla
On June 27, 2017, the Honourable Diane Lebouthillier, Minister of National Revenue, released a report on the CRA’s 2016 Serving You Better consultations with small and medium businesses.
Report published here: https://www.canada.ca/en/revenue-agency/campaigns/consultations-small-businesses.html?utm_campaign=not-applicable&utm_medium=vanity-url&utm_source=canada-ca_cra-serving-you-better
The Minister of Finance (Ontario) introduced Bill 134, Budget Measures Act (Housing Price Stability and Ontario Seniors’ Public Transit Tax Credit), 2017 yesterday, providing a first look at legislation regarding the non-resident speculation tax for land transfers in the Greater…
The Minister of Finance (Canada) has announced that the 2017 federal budget will be tabled in the House of Commons on March 22, 2017. For more information, please visit: http://www.fin.gc.ca/n17/17-013-eng.asp
In BC Trust v. Canada (Attorney General) (2017 BCSC 209), the Supreme Court of British Columbia dismissed an application for rectification, applying the recent Supreme Court of Canada decision in Fairmont Hotels Inc. (2016 SCC 56). The BC Trust case…
The CRA released Information Circular IC98-1R6 concerning the collection policies of the CRA. This information circular cancels and replaces IC98-1R5, dated February 3, 2016, and gives a general overview of many of the collections policies that the CRA has for individuals, businesses,…
The Tax Court of Canada has allowed the appeal of the appellant in 594710 British Columbia Ltd. v. The Queen, 2013-4033(IT)G. The Court held that the Respondent failed to demonstrate abusive tax avoidance at the primary tax debtor level by…
On November 24, 2016, the Multilateral Convention to Implement Tax-Treaty Related Measures to Prevent Base Erosion and Profit Sharing was released by the OECD. The multilateral instrument is aimed at implementing standards to counter perceived treaty abuse and to…