Budget 2024 proposes to prolong the duration of qualified donee status for eligible foreign charities from 24 to 36 months. Additionally, these qualified donee foreign charities would need to submit an annual information return to the CRA that describes the total amount of receipts issue...
Budget's alternative minimum tax changes will make it harder for high-income earners to avoid paying taxes Jamie Golombek: Changes include broadening the AMT base by further limiting exemptions, deductions and credits March 28, 2023 Financial Post Advertisement 5 Read the full text of the 2023...
The fall economic statement reaffirmed the current government’s commitment to its suite of clean economy investment tax credits, including the Carbon Capture, Utilization, and Storage (CCUS) Investment Tax Credit, Clean Technology Investment Tax Credit, Clean Technology Manufacturing Investment Tax ...
The FES contained broad statements that oddly refer back to the era when the difficult concept of "artificiality" was wielded to seek to overturn tax planning that the CRA disliked. The FES refers to tax strategies that do not serve an economic purpose (other than mitigating tax), including ...
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Certain categories of “qualified donees,” including universities outside Canada, are required to register with the CRA and are listed on the CRA website. Foreign universities are also required to be prescribed in the Income Tax Regulations. The Budget proposes to eliminate this duplication in re...