Tax News

Canada Post segment reports $70-million profit before tax in first quarter - Canada NewsWire (press release)

Tax News - Fri, 05/25/2018 - 11:04

Canada Post segment reports $70-million profit before tax in first quarter
Canada NewsWire (press release)
Parcels volumes continue to grow as Canadians shift to e-commerce deliveries. OTTAWA, May 25, 2018 /CNW/ - Canada Post is reporting a first-quarter profit, driven mostly by robust growth in its Parcels business as it delivers Canadians' online purchases.

Categories: Tax News

If you sell real estate, expect the taxman to take a close look in continued CRA crackdown - Financial Post

Tax News - Fri, 05/25/2018 - 09:56

Financial Post

If you sell real estate, expect the taxman to take a close look in continued CRA crackdown
Financial Post
Anyone selling real estate during the year has to report such sales on their tax returns, even if any gain is 100-per-cent tax-free due to the principal residence exemption. Yet it appears Canadians still run afoul of the law when it comes to the ...

Categories: Tax News

Canada: New IRS Campaigns On Withholding And International Individual Tax Compliance - Mondaq News Alerts

Tax News - Fri, 05/25/2018 - 05:30

Canada: New IRS Campaigns On Withholding And International Individual Tax Compliance
Mondaq News Alerts
Moodys Gartner Tax Law is only about tax. It is not an add-on service, it is our singular focus. Our Canadian and US lawyers and Chartered Accountants work together to develop effective tax strategies that get results, for individuals and corporate ...

Categories: Tax News

President Trump could put a massive new tax on imported cars - CHCH News

Tax News - Thu, 05/24/2018 - 21:19

CHCH News

President Trump could put a massive new tax on imported cars
CHCH News
It was reported that the President was debating whether to impose a 25% tax on imported cars by using the same law that allowed new tariffs to be placed on Chinese steel and aluminium earlier this year. Sparring Canada and Mexico the products were ...

and more »Google News
Categories: Tax News

Taxing health benefits would 'dramatically' raise health-care costs for many Canadians - Benefits Canada

Tax News - Thu, 05/24/2018 - 16:06

Benefits Canada

Taxing health benefits would 'dramatically' raise health-care costs for many Canadians
Benefits Canada
While a new report shows that introducing a tax on employer-paid health benefits would add $3.8 billion to the federal government's coffers in the 2018 tax year, it would also dramatically raise health-care costs for many Canadians, according to the ...

Categories: Tax News

CRA Uncovers Nearly $600 Million In Unpaid Taxes On BC, Ontario Real Estate - HuffPost Canada

Tax News - Thu, 05/24/2018 - 14:45

HuffPost Canada

CRA Uncovers Nearly $600 Million In Unpaid Taxes On BC, Ontario Real Estate
HuffPost Canada
The Canada Revenue Agency headquarters in Ottawa, Nov. 4, 2011. CRA has identified nearly $600 million in unpaid taxes on real estate transactions since it began keeping a closer eye on the British Columbia and Ontario real estate markets in 2015.

and more »
Categories: Tax News

Taxing health and dental benefits would hit the middle-class, report shows - Globalnews.ca

Tax News - Thu, 05/24/2018 - 13:24

Globalnews.ca

Taxing health and dental benefits would hit the middle-class, report shows
Globalnews.ca
But even those with middling and low incomes would take a hit through a combination of higher personal income taxes, Canada Pension Plan (CPP) contributions and lower federal government benefits, such as the Canada Child Benefit (CCB) and Old Age ...

Categories: Tax News

Canada: Taxation As A Cottage Industry - Mondaq News Alerts

Tax News - Thu, 05/24/2018 - 12:28

Mondaq News Alerts

Canada: Taxation As A Cottage Industry
Mondaq News Alerts
One of the most dangerous examples of this tax trap awaits Ontario taxpayers (and those in some other provinces as well) who change the title to their cottage from one person to joint tenancy in order to reduce probate fees. The Canada Revenue Agency ...

Categories: Tax News

Letter of the Day: Litany of tax evaders in Canada - Saskatoon StarPhoenix

Tax News - Thu, 05/24/2018 - 12:01

Saskatoon StarPhoenix

Letter of the Day: Litany of tax evaders in Canada
Saskatoon StarPhoenix
We have a litany of tax evaders in this country who are sucking wealth out of Canada that could be used for social and economic development. Fingas points out that the Trudeau government has been a “global laggard” in “corporate transparency and ...

Categories: Tax News

Government of Canada offers taxpayer relief to Canadians affected by flooding - Canada NewsWire (press release)

Tax News - Thu, 05/24/2018 - 11:24

Government of Canada offers taxpayer relief to Canadians affected by flooding
Canada NewsWire (press release)
OTTAWA, May 24, 2018 /CNW/ - The Canada Revenue Agency (CRA) understands that natural disasters cause hardship for Canadians whose primary concerns in such times are for their families, homes and communities. To lessen the burden on Canadians ...

Categories: Tax News

Canada must escape the corporate welfare trap - Troy Media

Tax News - Thu, 05/24/2018 - 08:03

Troy Media

Canada must escape the corporate welfare trap
Troy Media
It's been more than two months since federal Finance Minister Bill Morneau said he would study Canada's crumbling business tax advantage – while cautioning against any “impulsive” measures in response to tax changes south of the border that overnight ...

Categories: Tax News

Alberta's income tax 'advantage' exists for the poor and the rich, but not those in between - CBC.ca

Tax News - Thu, 05/24/2018 - 04:01

CBC.ca

Alberta's income tax 'advantage' exists for the poor and the rich, but not those in between
CBC.ca
Alberta governments of every stripe love talking about the "tax advantage" in this province. And it's generally true that Albertans pay less tax — on the whole — than other Canadians, when you add up all the different types of taxation that all three ...

Categories: Tax News

CIBC in tax battle with CRA over alleged 'dividend rental arrangements' - Financial Post

Tax News - Wed, 05/23/2018 - 19:29

Mortgage Broker News

CIBC in tax battle with CRA over alleged 'dividend rental arrangements'
Financial Post
The Canadian Imperial Bank of Commerce is fighting a tax reassessment that could cost it hundreds of millions of dollars after it was accused by Canada's tax authorities of improperly deducting dividend income received as part of an alleged “dividend ...
Canadian banks' earnings not suffering from housing slowdown, for nowMortgage Broker News

all 73 news articles »
Categories: Tax News

Doug Ford's tax exemption for legions would end patchwork of benefits - CBC.ca

Tax News - Wed, 05/23/2018 - 18:03

CBC.ca

Doug Ford's tax exemption for legions would end patchwork of benefits
CBC.ca
"The municipality believes the unique nature of the Royal Canadian Legion; the sacrifices of Legion members and the Legion's value to the community warrants this action," Hope said, adding that not all legion members may be aware of the exemption.
Ontario PC election news release: Ford would exempt Legions from property taxSudbury.com
Wallaceburg Legion exempt from paying municipal property taxesWallaceburg Courier Press

all 15 news articles »
Categories: Tax News

Canada Revenue Agency's dogged pursuit of offshore accounts: Clarifying the scope of compliance orders in Canada ... - Canadian Accountant

Tax News - Wed, 05/23/2018 - 16:25

Canada Revenue Agency's dogged pursuit of offshore accounts: Clarifying the scope of compliance orders in Canada ...
Canadian Accountant
TORONTO, May 23, 2018 – The Federal Court's ("FC") ruling in Canada v Stankovic, 2018 FC 462 illustrates how the Canada Revenue Agency ("CRA") persistently pursues taxpayers with undisclosed offshore accounts. The FC allowed a compliance order ...

Google News
Categories: Tax News

Canada Revenue Agency's dogged pursuit of offshore accounts - Canadian Accountant

Tax News - Wed, 05/23/2018 - 16:25

Canada Revenue Agency's dogged pursuit of offshore accounts
Canadian Accountant
TORONTO, May 23, 2018 – The Federal Court's ("FC") ruling in Canada v Stankovic, 2018 FC 462 illustrates how the Canada Revenue Agency ("CRA") persistently pursues taxpayers with undisclosed offshore accounts. The FC allowed a compliance order ...

Categories: Tax News

Bill Morneau Hammered Over Possible Carbon Tax Costs During Marathon Grilling - HuffPost Canada

Tax News - Wed, 05/23/2018 - 10:49

HuffPost Canada

Bill Morneau Hammered Over Possible Carbon Tax Costs During Marathon Grilling
HuffPost Canada
Conservative Leader Andrew Scheer has promised to scrap the Liberal scheme, saying he will have a plan of his own to meet Canada's international emissions targets without putting a tax on carbon. Canada's 2030 target is to cut emissions by 30 per cent ...

and more »
Categories: Tax News

Canada's new 'dark chapter': So many national apologies for past injustice, they've become insincere - National Post

Tax News - Wed, 05/23/2018 - 10:12

National Post

Canada's new 'dark chapter': So many national apologies for past injustice, they've become insincere
National Post
Stephen Harper, Prime Minister of Canada accepts the last spike of the Canadian Pacific Railrway from Chinese head tax survivor James Pon as Susan Eng looks on during a ceremony on Parliament Hill in Ottawa on Thursday, June 22, 2006.

Google News
Categories: Tax News

Not lovin' it: McDonald's sues over Happy Meal toy tax tally - CBC.ca

Tax News - Wed, 05/23/2018 - 07:02

CBC.ca

Not lovin' it: McDonald's sues over Happy Meal toy tax tally
CBC.ca
Although the exact amount of the penalty is not specified in the court documents, an affidavit from McDonald's Western Canada regional controller estimates that McDonald's sells 700 Happy Meals per week at each restaurant location. That would amount to ...

Categories: Tax News

Bill Morneau pressed to reveal true costs of carbon tax for Canadian families - Globalnews.ca

Tax News - Wed, 05/23/2018 - 06:42

Globalnews.ca

Bill Morneau pressed to reveal true costs of carbon tax for Canadian families
Globalnews.ca
Conservative MP Pierre Poilievre repeatedly tried to squeeze answers out of Finance Minister Bill Morneau during a marathon Commons session Tuesday night that featured a barrage of questions on the potential costs of the federal carbon tax for Canadian ...

Categories: Tax News

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