The newly-elected provincial Liberal government in Ontario reintroduced its 2014 Ontario Budget on July 14, 2014. The Budget, which remains essentially unchanged from the original version presented May 1, 2014, includes a few points of interest. Below are three measures…
In 2014-0521541I7, the CRA discussed previously inconsistent administrative positions they had taken regarding the requirement for Crown or Crown-owned corporations to file T2’s, and responded to an inquiry as to whether this exemption extended to wholly-owned subsidiaries of corporations…
In 2013-0513751E5, the CRA responded that they considered that annual dues paid to an employee association could likely be deductible under subparagraph 8(1)(i)(iv). Even though the association is not certified a trade union, it is CRA’s position that “an…
In document 2013-0514521E5, the CRA ruled that a taxable benefit could result if an employer paid for all or part of a personal trainer or nutritionist for its employees. Paragraph 6(1)(a) includes any economic benefit received by the employee…
In 2014-0526141E5, the CRA responded to a taxpayer’s question as to whether or not donation of custody of a fossil could be considered a charitable gift. In order for a gift to be made, there must be a transfer…
On June 9, 2014, the Canada Revenue Agency released its 11th Annual Report on the Mutual Agreement Procedure (MAP) Program. The MAP program is in place to assist taxpayers in resolving circumstances of double taxation or situations where taxation…
In 2013-0515121E5, the CRA was asked whether the penalties in subsection 162(7.01) were applied for each separate type of return late-filed and whether the penalties in subsection 162(7.02) applied for each separate type of return not electronically filed.
The…
In 2013-0513191E5, the CRA responded to four questions regarding the responsibility and liability of an executor in a situation where the deceased taxpayer was the sole director and shareholder of a corporation. The four questions were:
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In 2013-0513771I7, the taxpayer asked whether paragraph 6(1)(a) and subsections 15(1), 56(2) and 56(4) would apply to a situation where employee stock options were issued by a public corporation to the shareholder of a private corporation that provides services…
In 2014-0522731M4, the CRA changed its longstanding position that payments made by lottery corporations to vendors selling the winning ticket were non-taxable. As of January 1, 2014, all such payments must be included in the vendor’s income.