Tax News

Your letters: Should Canadian corporations pay more taxes? - Toronto Star

Tax News - 8 hours 12 min ago

Your letters: Should Canadian corporations pay more taxes?
Toronto Star
The Star is to be congratulated for its excellent research regarding low taxes, tax shelters and off-shore tax avoidance schemes enjoyed by many corporations. The burden for these corporate benefits is incurred by the middle class, the group the ...

Categories: Tax News

Federal government's changes to the Income Tax Act face continued criticism - Globalnews.ca

Tax News - Sat, 12/16/2017 - 14:09

Globalnews.ca

Federal government's changes to the Income Tax Act face continued criticism
Globalnews.ca
READ MORE: Small business tax changes: Liberals scale back passive income rules. According to the federal government, the changes to the income tax act will only affect a small amount of businesses — it estimates about 45,000 small businesses in all ...
The perils of taking tax advice from the CRAThe Lawyer's Daily

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Andrew Coyne: Now is the time for broad reform of Canada's productivity-killing tax system - National Post

Tax News - Fri, 12/15/2017 - 20:02

National Post

Andrew Coyne: Now is the time for broad reform of Canada's productivity-killing tax system
National Post
As for the corporate tax, the economist Jack Mintz has calculated, based on an earlier version of the bill, it will result in a near-halving of the marginal effective tax rate on investment, federal and state combined. Where before it was about 15 ...

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EU officially ends corporate secrecy, as Canada lags further behind - Toronto Star

Tax News - Fri, 12/15/2017 - 18:35

Toronto Star

EU officially ends corporate secrecy, as Canada lags further behind
Toronto Star
While Canada holds meetings and talks about it, the EU has officially ended corporate secrecy. The anonymous and numbered companies that facilitate tax evasion and money laundering in Europe will soon have their ownership published in public, online ...

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US tax bill: Republicans agree sweeping changes - BBC News

Tax News - Fri, 12/15/2017 - 18:34

BBC News

US tax bill: Republicans agree sweeping changes
BBC News
US Republicans from both houses of Congress have revealed their joint bill for the biggest overhaul of the country's tax system in 30 years. The plan brings the US corporate tax rate down to 21% from the current 35%. The top individual income tax drops ...
Trump's much-touted tax cut on track for passage in US CongressRappler
Huge US tax bill heads for passage as Republican senators fall in lineCTV News
Pipeline companies unhappy with tax reform, and running out of timemySanAntonio.com
Canada Free Press
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It's time to take another look at our tax system - Toronto Star

Tax News - Fri, 12/15/2017 - 16:06

Toronto Star

It's time to take another look at our tax system
Toronto Star
Canada, more than many countries, has embraced the dubious notion that corporate tax cuts are an economic panacea, a sure way to spur economic growth and drive job creation. Over the last three decades, successive governments, both Liberal and ...
Tax on pot, cleaner fuel and sexual assault: how politics mattered this weekMetroNews Canada

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Canada needs sugary drink tax, study led by U of T researchers urges - News@UofT

Tax News - Fri, 12/15/2017 - 12:15

News@UofT

Canada needs sugary drink tax, study led by U of T researchers urges
News@UofT
... outlaw junk food marketing to children, impose stricter limits on unhealthy nutrients added to foods, and impose a “sugary drink tax.” Professor Mary L'Abbé, chair of the department of nutritional sciences in the Faculty of Medicine, and Banting ...

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Conrad Black: As Trump boldly fires up American success, Canada stumbles along weakly - National Post

Tax News - Fri, 12/15/2017 - 11:03

National Post

Conrad Black: As Trump boldly fires up American success, Canada stumbles along weakly
National Post
The year ends with Canada in an oddly satisfied state of mind, politically. The United States is about to pass a tax cut and simplification bill that will excuse a majority of Americans from personal income tax altogether, enable 80 per cent of income ...

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CRA squeezes voluntary disclosures amid tax-evasion crackdown - The Globe and Mail

Tax News - Fri, 12/15/2017 - 06:02

The Globe and Mail

CRA squeezes voluntary disclosures amid tax-evasion crackdown
The Globe and Mail
The Canada Revenue Agency will no longer allow Canadians to benefit from financial relief when they disclose unreported income in cases that involve offshore dealings or sophisticated tax-avoidance schemes, federal officials said. Starting in March ...
Minister Lebouthillier announces tightening of the Voluntary Disclosures Program to ensure greater tax fairnessMarkets Insider

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Opinion: Ottawa should follow BC's example and end benefits for Canadians using tax havens - Vancouver Sun

Tax News - Thu, 12/14/2017 - 21:01

Huffington Post Canada

Opinion: Ottawa should follow BC's example and end benefits for Canadians using tax havens
Vancouver Sun
Ottawa should follow B.C.'s example, and overhaul Canadian legislation that allows wealthy Canadians and Canadian corporations to benefit from using offshore tax havens. When Canadian companies and wealthy individuals were named in the Paradise Papers ...
Tax Havens Should Be Illegal, 87% Of Canadians SayHuffington Post Canada
Using tax havens is morally wrong, think most Canadians: surveyRadio Canada International

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Five things Canadian companies need to know about US tax reform - The Globe and Mail

Tax News - Thu, 12/14/2017 - 17:09

The Globe and Mail

Five things Canadian companies need to know about US tax reform
The Globe and Mail
While in many circumstances the U.S. and Canadian rates may now approximate each other (when one factors in provincial/state income taxes) certain businesses operate in states with no tax or in Canada they benefit from the small-business tax rate ...

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Tax Havens Should Be Illegal, 87% Of Canadians Say - Huffington Post Canada

Tax News - Thu, 12/14/2017 - 16:24

Huffington Post Canada

Tax Havens Should Be Illegal, 87% Of Canadians Say
Huffington Post Canada
A new poll found that the majority of Canadians believe using tax havens should be criminalized. Using tax havens isn't in and of itself illegal, but an overwhelming majority of Canadians wants to change that, according to a new opinion poll. Fully ...
Using tax havens is morally wrong, think most Canadians: surveyRadio Canada International

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Categories: Tax News

Canada's Cannabis Tax Plan: Good for Provinces, Bad for Patients - Leafly

Tax News - Thu, 12/14/2017 - 14:00

Leafly

Canada's Cannabis Tax Plan: Good for Provinces, Bad for Patients
Leafly
“The government's proposal to apply excise tax to medical cannabis demonstrates a careless disregard for the health of Canadians,” Jonathan Zaid, executive director of Canadians for Fair Access to Medical Marijuana, told Leafly. He urged the federal ...

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How US tax reform threatens Canadian corporates - Advisor.ca

Tax News - Thu, 12/14/2017 - 13:44

How US tax reform threatens Canadian corporates
Advisor.ca
Further, U.S. tax reform moves to a territorial regime, in which profits are generally taxed in the country where they're earned. That means U.S.-Canada cross-border multinationals could face rules that limit U.S. tax benefits when intra-company ...

Categories: Tax News

Canada's tax system for small business one of the most favourable ... - Investment Executive

Tax News - Thu, 12/14/2017 - 13:25

Investment Executive

Canada's tax system for small business one of the most favourable ...
Investment Executive
The ranking could drop should Ottawa implement the proposed legislative changes for private corporations.

and more »Google News
Categories: Tax News

Canada's tax system for small business one of the most favourable in the world: report - Investment Executive

Tax News - Thu, 12/14/2017 - 13:25

Investment Executive

Canada's tax system for small business one of the most favourable in the world: report
Investment Executive
Canada ranks first among the G7 countries for the ease of paying taxes and low total tax burden for small- to medium-sized companies, according to the 12th edition of the Paying Taxes report released by PricewaterhouseCoopers LLP (PwC) and the World ...

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100 years of Canadian income taxes - Toronto Star

Tax News - Thu, 12/14/2017 - 12:34

Toronto Star

100 years of Canadian income taxes
Toronto Star
As revealed by a Toronto Star/Corporate Knights investigation, Canadian companies have used complex techniques and loopholes to reduce their tax bills by $62.6 billion over the past six years. As corporate tax rates have dropped, people have had to ...

Categories: Tax News

Using tax havens is morally wrong, think most Canadians: survey - Radio Canada International

Tax News - Thu, 12/14/2017 - 11:34

Radio Canada International

Using tax havens is morally wrong, think most Canadians: survey
Radio Canada International
It is estimated that $250 billion are sheltered in tax havens depriving the government of an estimated six billion dollars a year in tax revenues, reports CBC. Reporter Peter Armstrong adds that would be enough to pay for 200,000 new child cares spaces ...

and more »
Categories: Tax News

Canada ranks 1st among G7 countries for ease of paying taxes and low total tax burden for small to medium-sized ... - Canada NewsWire (press release)

Tax News - Thu, 12/14/2017 - 09:32

Canada ranks 1st among G7 countries for ease of paying taxes and low total tax burden for small to medium-sized ...
Canada NewsWire (press release)
"Canada's tax system is one of the most efficient and favourable systems in the world for small to medium-sized businesses. Canada's tax system for large businesses is significantly less favourable. However, proposed changes to the current tax ...

Categories: Tax News

Canada: Department Of Finance Releases Revised Income Splitting Rules - Mondaq News Alerts

Tax News - Thu, 12/14/2017 - 08:26

Mondaq News Alerts

Canada: Department Of Finance Releases Revised Income Splitting Rules
Mondaq News Alerts
Read our comments on these proposals in our bulletin Canadian Government Proposes Major Changes to the Taxation of Private Corporations. The revised draft legislation addresses only the income splitting rules. The Income Tax Act contains a wide range ...

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