Monday, April 16, 2018, is the deadline to submit notices of complaint to dispute vacancy tax notices issued by the City of Vancouver. Any registered owner who received a vacancy tax notice could potentially submit a complaint, even if they…
In Canada v. Oxford Properties Group Inc., 2018 FCA 30, the Federal Court of Appeal allowed in part the Crown’s appeal and referred the reassessment of the taxpayer back to the Minister of National Revenue for reconsideration.
The taxpayer…
The Department of Finance has released revised draft legislation and background information on its proposals to prevent income splitting. The documents can be accessed here. This release follows on the Department’s private corporation consultation paper of July 18, 2017,…
On November 21, 2017, the OECD Council approved the contents of the 2017 Update to the OECD Model Tax Convention.
The 2017 Update primarily comprises changes to the OECD Model Tax Convention and related commentary that were developed through the…
On November 23, 2017, the PBO released its analysis estimating the potential fiscal magnitude of changes to passive income taxation based on Finance Canada’s July 18, 2017, consultation document.
The PBO’s analysis also factors in the October 18, 2017 Department…
On November 21, 2017, the Auditor General released its Fall Report containing the results of 6 audits completed since the summer, including an audit of the timeliness and accuracy of information provided by Canada Revenue Agency Call centres.
Some key…
On November 10, 2017, the Department of Finance released proposed legislation concerning an excise duty framework for cannabis products for comment. The proposed duty would apply to all cannabis products available for legal sale, including fresh and dried cannabis, cannabis…
Federal small business rate lowered to 10% on Jan. 1, 2018; 9% on Jan. 1, 2019. Proposed capital gains exemption limitation changes abandoned. Proposed income sprinkling measures to be simplified.
Link: http://www.fin.gc.ca/n17/17-097-eng.asp
Minister of National Revenue Diane Lebouthillier has released the preliminary results of the CRA’s recent initiatives to combat tax evasion, including statistics regarding the number of cases referred for criminal investigations, search warrants executed and criminal convictions from April 1,…
BC Finance Minister Carole James has released a budget update which contains several important tax measures for individuals and corporations, namely: (1) the introduction of a new 16.8% rate on taxable income over $150,000 for individuals (increased from 14.7%);…