Tax Alert Archives

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

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

Prepared by: Asif Abdulla

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

On September 11, 2014, the Minister of Finance announced the introduction of the Small Business Job Credit. The credit, worth $0.39 per $100 of insurable earnings paid, will be available to employers that pay $15,000 or…

On September 16, 2014, the OECD released its first recommendations as part of the Base Erosion and Profit Shifting Project (“BEPS”), covering the following topics:

1. Addressing the tax challenges of the digital economy;
2. Ensuring the coherence of corporate income

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On August 29^th, the Department of Finance released draft legislative amendments to the Income Tax Act (Canada) and the Income Tax Regulations (Canada) for consultation. The proposals implement measures announced as part of the Economic Action…

In 2014-0522921E5, the CRA provides general comments on taxation of settlement payments. The CRA’s position is that whether a settlement payment is taxable is a question of fact based on the nature and purpose of the settlement payment and…

Prepared by: Shawn Tryon

Income Tax Folio S1-F3-C3 replaces and cancels Interpretation Bulletin IT-530R, Support Payments, and Income Tax Technical News No. 24.  This Income Tax Folio has a three month comment period, ending November 19, 2014.  Income Tax Folio…

Prepared by: Shawn Tryon

The Canada Revenue Agency’s list of foreign charitable organizations that are treated the same as Canadian charities for tax purposes has now been reduced to zero, making it that much more difficult to garner financial support for international causes. …

Prepared by: E. Rebecca Potter

In Warnock v. The Queen, 2014 TCC 240, the Tax Court of Canada considered medical expense tax credits claimed by the taxpayer for various expenses incurred with respect to a surrogacy arrangement. …

Prepared by: Shawn Tryon