Tax News

Liberals promise to repeal restriction on charities' political activity - CBC.ca

Tax News - 1 hour 55 min ago

CBC.ca

Liberals promise to repeal restriction on charities' political activity
CBC.ca
The CRA had filed notice in 2016 that Canada Without Poverty (CWP) would lose its charitable status because 98.5 per cent of its activities were deemed 'political' — far in excess of the 10 per cent limit set out in the Income Tax Act. Losing the ...

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Call for three-year renewal of Canada's exploration tax scheme to arrest signs of decline - Creamer Media's Mining Weekly

Tax News - 4 hours 36 min ago

Call for three-year renewal of Canada's exploration tax scheme to arrest signs of decline
Creamer Media's Mining Weekly
The Mineral Exploration Tax Credit (METC), which incentivises exploration financing by providing individuals investing in companies exploring for minerals in Canada with a 15% tax credit on eligible expenditures, has to be renewed for at least three ...

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Canada: Holding Companies May Face New Rules For GST/HST - Mondaq News Alerts

Tax News - 11 hours 36 min ago

Canada: Holding Companies May Face New Rules For GST/HST
Mondaq News Alerts
These rules, when applicable, effectively deem Holdco to have acquired property or service that relates to the Opco in the course of Holdco's commercial activities and, therefore, allows Holdco to claim ITCs to recover the tax, subject to the usual ...

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Canada: A Refresher On Employer Certification Program – Relief From Canadian Witholding - Mondaq News Alerts

Tax News - 12 hours 24 min ago

Canada: A Refresher On Employer Certification Program – Relief From Canadian Witholding
Mondaq News Alerts
Canadian tax rules require ALL EMPLOYERS to withhold Canadian income tax from remuneration paid to employees providing services in Canada per Regulation 102 (Reg. 102). As a result, even foreign employers must withhold Canadian payroll taxes ...

Categories: Tax News

Column: Government now planning cuts to carbon tax - Ponoka News

Tax News - 20 hours 24 min ago

Ponoka News

Column: Government now planning cuts to carbon tax
Ponoka News
Carbon taxes harm Canada's economic competitiveness, especially compared to the United States, which does not have a carbon pricing scheme in place. Earlier this year, the Parliamentary Budget Officer (PBO) projected that the Liberal carbon tax will ...

Categories: Tax News

LAMMAM: Doug Ford's next big federal tax challenge — opt out of CPP expansion - Toronto Sun

Tax News - Tue, 08/14/2018 - 20:07

Toronto Sun

LAMMAM: Doug Ford's next big federal tax challenge — opt out of CPP expansion
Toronto Sun
Looking ahead, there's another big federal tax challenge for the Ford government—the looming Canada Pension Plan (CPP) expansion, with the first of several significant CPP tax increases beginning in January 2019. Back in 2016, the Trudeau government ...

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Netflix is so popular in Canada, local media players want a 'Netflix tax' to level the playing field - Business Insider

Tax News - Tue, 08/14/2018 - 12:51

Business Insider

Netflix is so popular in Canada, local media players want a 'Netflix tax' to level the playing field
Business Insider
Now there is an ongoing political debate over how streaming services should be regulated in Canada. Local broadcast and cable companies are rallying behind the idea of a "Netflix tax" that would make the streaming video service pay the same taxes to ...

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Canada: Trust Reporting Rules – Draft Legislation Released - Mondaq News Alerts

Tax News - Tue, 08/14/2018 - 10:48

Canada: Trust Reporting Rules – Draft Legislation Released
Mondaq News Alerts
To my knowledge, this is the first penalty introduced into Canadian tax law that imposes a penalty on the fair market value of the assets held by a taxpayer (failure to file prescribed forms T1141 and T1142 also lead to a 5% penalty on fair market ...

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Categories: Tax News

LAMMAM: Average Canadian family spends over $37000 per year on taxes - Toronto Sun

Tax News - Tue, 08/14/2018 - 06:01

Toronto Sun

LAMMAM: Average Canadian family spends over $37000 per year on taxes
Toronto Sun
Since 1961, the average Canadian family's total tax bill increased by 2,112 per cent, dwarfing increases in annual housing costs (1,480%), clothing (732%), and food (625%). Even after accounting for inflation, the tax bill has still increased 166.4 ...

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BONOKOSKI: Taxes are our No. 1 expenditure - by a long shot - Toronto Sun

Tax News - Tue, 08/14/2018 - 06:01

Toronto Sun

BONOKOSKI: Taxes are our No. 1 expenditure - by a long shot
Toronto Sun
A report by the Fraser Institute tracked the Canadian Consumer Tax Index between last year and 1961 – think Gunsmoke, Bonanza, Hazel and Perry Mason as the top TV shows of the day – and discovered that the cost of all taxes had increased by 2,112%, ...

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NS film tax credit gone but not forgotten - CBC.ca

Tax News - Tue, 08/14/2018 - 05:00

CBC.ca

NS film tax credit gone but not forgotten
CBC.ca
"We're not seeing as many big, Hollywood films coming, that's for certain," said Mackenzie. "And that is really just because our tax credit or our incentive, either one is just not as competitive across Canada. "We've got to be the leader in Canada if ...

Categories: Tax News

Canada: 6 Tax Planning Questions For Canadian Musicians (Video) - Mondaq News Alerts

Tax News - Tue, 08/14/2018 - 04:48

Canada: 6 Tax Planning Questions For Canadian Musicians (Video)
Mondaq News Alerts
Are you a performing artist, composer or producer in Canada? Listen up! It may seem like tax season is a long way off, but there is no time like the present to start planning. Here are 6 tax planning questions for Canadian musicians to consider. The ...

Categories: Tax News

Canada talking with US about Trump tax: Morneau - CBC.ca

Tax News - Tue, 08/14/2018 - 04:00

CBC.ca

Canada talking with US about Trump tax: Morneau
CBC.ca
The Canadian government is talking to the U.S. government about the impact a retroactive tax signed into law by U.S. President Donald Trump is having north of the border, Finance Minister Bill Morneau revealed Monday. Speaking to reporters in Windsor, ...
"More work to be done," but Morneau reassures business leaders on NAFTAFinancial Post

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Categories: Tax News

It's Time For Canada To Start Taxing The Ultra-Rich When They Die - HuffPost Canada

Tax News - Mon, 08/13/2018 - 13:44

HuffPost Canada

It's Time For Canada To Start Taxing The Ultra-Rich When They Die
HuffPost Canada
There's a group of people in Canada that avoids paying taxes, gets special privileges hard-working Canadians can't and passes the rewards on to their children, enticing them to use the same tactics instead of making an honest living. This sort of ...

Categories: Tax News

Senior Canadian diplomat linked to 'dangerous' Macau casino investment - Globalnews.ca

Tax News - Mon, 08/13/2018 - 09:00

Globalnews.ca

Senior Canadian diplomat linked to 'dangerous' Macau casino investment
Globalnews.ca
And the federal employee was alleged to have received monthly cash payouts — delivered by hand in Vancouver — in a “dangerous” scheme that might have risked Canada Revenue Agency prosecutions, according to documents. Story continues below.

Google News
Categories: Tax News

Canadian residents hit by Trump tax dealt a new blow - CBC.ca

Tax News - Mon, 08/13/2018 - 04:00

CBC.ca

Canadian residents hit by Trump tax dealt a new blow
CBC.ca
Thousands of Canadian residents hit hard by a retroactive tax signed into law by U.S. President Donald Trump have been dealt another blow, CBC News has learned. Newly proposed regulations issued by the U.S. Treasury Department and the Internal ...
Dutch company subject to Canadian income tax under central management and control test, court rulesMNE Tax

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Categories: Tax News

Dutch company subject to Canadian income tax under central management and control test, court rules - MNE Tax

Tax News - Mon, 08/13/2018 - 03:13

Dutch company subject to Canadian income tax under central management and control test, court rules
MNE Tax
A Netherlands-incorporated company whose sole director was resident in the Netherlands was nevertheless resident in Canada for income tax purposes because the company's central management and control was exercised by its two Canadian-resident ...

Categories: Tax News

Trump threatens Canada: 'Will tax cars if we can't make a NAFTA deal!' – Twitter - Forex Crunch

Tax News - Sun, 08/12/2018 - 22:58

Trump threatens Canada: 'Will tax cars if we can't make a NAFTA deal!' – Twitter
Forex Crunch
The US President Donald Trump took to Twitter on Saturday and threatened to impose auto tariffs on Canada, should the US and Canada fail to reach a deal on the North Atlantic Free Trade Agreement (NAFTA). Get the 5 most predictable currency pairs.

Google News
Categories: Tax News

Most Canadians oppose provinces taking Ottawa to court over carbon tax, poll suggests - The Globe and Mail

Tax News - Sun, 08/12/2018 - 20:02

The Globe and Mail

Most Canadians oppose provinces taking Ottawa to court over carbon tax, poll suggests
The Globe and Mail
Mr. Ford has allocated $30-million to have Ontario join Saskatchewan in the court battle seeking a declaration that Ottawa is exceeding its jurisdiction by imposing a carbon tax in their provinces. New Brunswick Premier Brian Gallant and Manitoba's ...

Categories: Tax News

Canada Backtracks on a Carbon Tax - Wall Street Journal

Tax News - Sun, 08/12/2018 - 17:41

Canada Backtracks on a Carbon Tax
Wall Street Journal
Canadian Prime Minister Justin Trudeau's Liberal government announced last month it will reduce a carbon tax on industry that is set to go into effect next year. The reason for the backtrack has to do with climate change, but not the kind associated ...

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