Canada: CRA changes position on grounds for taxing capital gains of non-residents.The article discusses the announcement by the Canada Revenue Agency (CRA) that it was changing its policy for determining whether shares of a corporation will be considered taxable Canadian property (TCP). According ...
The proposed changes create greater risk for taxpayers that routine audits could involve court processes for disclosure, evidence given under oath, and potential fines or penalties for even innocent non-compliance with audit requests. In extreme cases, failure to comply may be contempt of court...
provision for income taxes, and depreciation and amortization further adjusted for the impact of certain items that we do not consider indicative of our core operating performance, such as non-cash amounts relating to valuation changes in contingent consideration, acquisition-related costs, foreign...
year. As there have been changes to the form over the last few years, be aware of which form is appropriate to complete based on your fiscal year end. If you have used the incorrect form, it will be returned without processing. This could result in a late filing of the correct re...
Amid confusion about what Parliament’s suspension meant for the capital gains tax increases, the Canada Revenue Agency clarified it would continue to administer the changes, given how they were introduced and passed by the House of Commons, which is how it applies other tax measures. ...
These factors include, but are not limited to, the possibility that the demand for our services may decline as a result of changes in general and industry specific economic conditions; the timing of engagements for our services; the effects of competitive services and pricing; our abili...
This section highlights any changes to income tax laws or regulations in the current year that may affect how you report your self-employment income, claim deductions, or calculate your net income. Make sure to review these updates when preparing your taxes. ...
Our tax experts will keep you updated on changes in the Tax code and how you can plan ahead for next year's taxes. Not included Auditprotection As part of our Plus and Pro plans, our audit support service helps you in the event that any of your tax returns are reviewed or audited by...
Legislative or policy changes; Death or Illness; and The settlement of an estate. The stated reason(s) for making a VD will inform the CRA's determination of whether it should be rejected, or whether relief should be granted under the general or limited program. Taxpayers contemplating VDs, ...
But even if you wait a bit longer to file, and you rely on Auto-fill to capture the income from all your tax slips, it’s still best to check your account statements to make sure no income is missing. A tax case decided in January dealt with just such a situation. ...