CONTENTS VOLUME II VOLUME I. Detailed contents of Volume II, Chapters 11 to 21 follows. The textbook is published in two Volumes:
|
|
- Sharlene Potter
- 5 years ago
- Views:
Transcription
1 xi CONTENTS The textbook is published in two Volumes: Volume I = Chapters 1 to 10 Volume II = Chapters 11 to 21 Chapter VOLUME I Chapter VOLUME II 1 Introduction To Federal Taxation In Canada 11 Taxable Income and Tax Payable For Individuals Revisited 2 Procedures and Administration 12 Taxable Income and Tax Payable For Corporations 3 Income Or Loss From An Office Or Employment 13 Taxation of Corporate Investment Income 4 Taxable Income and Tax Payable For Individuals 14 Other Issues In Corporate Taxation 5 Capital Cost Allowances And Cumulative Eligible Capital 15 Corporate Taxation and Management Decisions 6 Income Or Loss From A Business 16 Rollovers Under Section 85 7 Income From Property 8 Capital Gains And Capital Losses 9 Other Income, Other Deductions And Other Issues 17 Other Rollovers and Sale Of An Incorporated Business 18 Partnerships 19 Trusts And Estate Planning 10 Retirement Savings And Other Special Income Arrangements Detailed contents of Volume II, Chapters 11 to 21 follows. 20 International Issues In Taxation 21 GST/HST Glossary Located at the back of the print and online Study Guide.
2 xii Table Of Contents (Volume 2) CHAPTER 11 Taxable Income And Tax Payable For Individuals Revisited Introduction Lump-Sum Payments Treatment Of Losses Carry Over Provisions Personal Use Property Losses Listed Personal Property Losses Non-Capital Losses Net Capital Losses Net Capital Losses At Death Allowable Business Investment Losses Farm Losses Lifetime Capital Gains Deduction Current And Future Limits Qualified Property Determining The Deductible Amount Comprehensive Example Ordering Of Deductions And Losses Ordering In Computing Net Income Ordering In Computing Taxable Income Example Tax Payable Overview Tax On Split Income Tax Credits Revisited Transfer Of Dividends To A Spouse Charitable Donations Credit Revisited Foreign Tax Credits Revisited Alternative Minimum Tax Minimum Tax Calculation Tax Credits For AMT Key Terms Used In This Chapter References Appendix - Returns For Deceased Taxpayers Special Rules At Death Procedures For Specific Returns Filing Requirements Payment Of Taxes Problems For Self Study (Online) Assignment Problems CHAPTER 12 Taxable Income And Tax Payable For Corporations Computation Of Net Income Computation Of Taxable Income Deductions Available To Corporations Dividends From Other Corporations Non-Capital Loss Carry Over For A Corporation 565 Ordering Of Taxable Income Deductions. 567 Geographical Allocation Of Income Permanent Establishments Example - Permanent Establishments Federal Tax Payable Basic Rate Federal Tax Abatement General Rate Reduction Provincial Tax Payable Small Business Rate Investment Income Rates Small Business Deduction Canadian Controlled Private Corporation. 573 Active Business Income Annual Business Limit Allocation Among Associated Companies Calculating The Small Business Deduction. 576 Elimination Of Small Business Deduction For Large CCPCs Personal Services Corporations Professional Corporations And Management Companies Manufacturing And Processing Profits Deduction Calculating The Deduction Eligibility General Rate Reduction - ITA 123.4(2) Full Rate Taxable Income Application To Companies Other Than CCPCs 586 Application To CCPCs Foreign Tax Credits For Corporations Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems
3 Table Of Contents (Volume 2) xiii CHAPTER 13 Taxation Of Corporate Investment Income Integration The Basic Concept Dividend Gross Up And Tax Credit Procedures 602 Integration And Business Income Refundable Taxes On Investment Income 606 Meaning Of Aggregate Investment Income. 606 Basic Concepts Refundable Part I Tax On Investment Income Additional Refundable Tax On Investment Income (ART) Problem One: Excessive Tax Rates On Flow Through Of A CCPC s Investment Income. 610 Solution To Problem One: Refundable Portion Of Part I Tax Refundable Part IV Tax On Dividends Received Problem Two: Use Of Multi-Level Affiliations To Defer Taxes On Investment Income Solution To Problem Two: Refundable Part IV Tax Part IV Tax On Portfolio Dividends Received 617 Dividends From A Connected Corporation. 618 Dividends Paid Out Of Mixed Income Of A Connected Corporation Other Part IV Tax Considerations Refundable Dividend Tax On Hand RDTOH - General Definition Refundable Portion Of Part I Tax Payable. 622 The Dividend Refund Example Of RDTOH Calculations Working Through Large Corporate Tax Problems Designation Of Eligible Dividends CCPCs And Their GRIP Non-CCPCs And Their LRIP Part III.1 Tax On Excessive Eligible Dividend Designations Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems CHAPTER 14 Other Issues In Corporate Taxation Introduction Acquisition Of Control Rules Economic Background Acquisition Of Control Legislation Deemed Year End Restrictions On Use Of Charitable Donations 650 Restrictions On The Use Of Losses Unrecognized Losses At Deemed Year End. 652 Deemed Disposition Election Associated Companies Definitions Examples - Associated Corporation Rules Investment Tax Credits Procedures Eligible Expenditures Rates Refundable Investment Tax Credits Carry Overs Of Investment Tax Credits Effect Of Acquisition Of Control On Investment Tax Credits Tax Basis Shareholders Equity Shareholders Equity Under GAAP Paid Up Capital (Tax Basis Contributed Capital) 665 Tax Basis Retained Earnings Capital Dividend Account Distributions Of Corporate Surplus Regular Cash Dividends Stock Dividends Dividends In Kind Capital Dividends Under ITA 83(2) Deemed Dividends Under ITA 84(1) - Increase In PUC ITA 84(2) - On Winding-Up ITA 84(3) - On Redemption, Acquisition, Or Cancellation Of Shares ITA 84(4) And ITA 84(4.1) Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems Tax Software Assignment Problem
4 xiv Table Of Contents (Volume 2) CHAPTER 15 Corporate Taxation And Management Decisions The Decision To Incorporate Basic Tax Considerations Other Advantages And Disadvantages Tax Reduction And Deferral Approach Basic Example Public Corporation CCPC - Active Business Income CCPC - Investment Income Other Than Dividends CCPC - Dividend Income Conclusions On Tax Reductions And Deferrals 704 Provincial Taxes And Integration Tax Deferral Tax Reduction Examples-EffectsOfProvincialRates On Integration Summary: Tax Deferral And Tax Reduction. 712 Tax Free Dividends Tax Rates On Dividends Use Of Tax Credits Tax Free Amounts For Income Splitting Basic Concept Example Shareholder Benefits Including Loans The Owner-Manager Environment Shareholder Benefits Other Than Loans Shareholder Loans Management Compensation General Principles Salary Vs. Dividends Salary Vs. Dividends For The Owner - Manager The Basic Trade-Off Other Considerations Conclusion Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems CHAPTER 16 Rollovers Under Section 85 Rollovers Under Section General Rules For The Transfer Transferor And Transferee Eligible Property Consideration To Transferor Making The Election Establishing The Transfer Price Transfer Prices - Detailed Rules Rules Applicable To All Assets Accounts Receivable Inventories, Non-Depreciable Capital Property 747 Disallowed Capital Losses Depreciable Property Disallowed Terminal Losses Eligible Capital Property Eligible Capital Property - Disallowed Deductions Summary Of Transfer Price Rules Allocation Of The Elected Value Consideration Received By The Transferor Assets Acquired By The Corporation Paid Up Capital (PUC) Of Shares Issued Paid Up Capital Reduction More Than One Class Of Shares Comprehensive Example - Section 85 Rollovers Gift To Related Party - Section General Rules Example Excess Consideration - Section Shareholder Benefit - ITA 15(1) Dividend Stripping ITA Applicability Of ITA Dividend Stripping Example Capital Gains Stripping ITA 55(2) Application Of ITA 55(2) Capital Gains Stripping - Examples Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems
5 Table Of Contents (Volume 2) xv CHAPTER 17 Other Rollovers And Sale Of An Incorporated Business Introduction Share For Share Exchanges - ITA General Rules Conditions For The Application Of ITA Example Exchange Of Shares In A Reorganization - ITA Conditions For The Reorganization Procedures Example Using ITA 86(1) In An Estate Freeze. 793 Gift To Related Person - ITA 86(2) Using ITA 86(1) - Tax Planning Considerations 798 Amalgamations - ITA Position Of The Amalgamated Company Position Of The Shareholders Vertical Amalgamations Asset Bump-Ups Non-Tax Considerations Amalgamations - Tax Planning Considerations 801 Winding-Up Of A 90% Owned Subsidiary. 802 Acquisition Of Assets Disposition Of Shares Tax Planning Considerations - Amalgamation Vs. Winding-Up Winding-Up Of A Canadian Corporation Example Convertible Properties Application Sale Of An Incorporated Business Restrictive Covenants (a.k.a. Non-Competition Agreements) Sale Of Individual Assets Sale Of Assets As A Going Concern Sale Of Shares Evaluation Of Alternatives Example Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems CHAPTER 18 Partnerships Introduction Taxable Entities In Canada Chapter Coverage Partnerships Defined The Importance Of Defining A Partnership Basic Partnership Elements Types Of Partnerships Co-Ownership, Joint Ventures, And Syndicates Introduction Co-Ownership Joint Ventures Syndicates Partnership Income, Losses, And Tax Credits Introduction Applicable Concepts Calculating The Amounts To Be Allocated Methods Of Allocation The Partnership Interest The Concept Acquiring A Partnership Interest Adjusted Cost Base Of Partnership Interest Disposition Of A Partnership Interest Limited Partnerships And Limited Partners 851 Definitions At-Risk Rules Transfer Of Property To And From A Partnership Definition Of Canadian Partnership Transfers With No Rollover Provision Common Partnership Rollovers Specified Investment Flow Through Partnerships Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems
6 xvi Table Of Contents (Volume 2) CHAPTER 19 Trusts And Estate Planning A Note On Changes For Basic Concepts What Is A Trust? Establishing A Trust Returns And Payments - Trusts Non-Tax Reasons For Using Trusts Classification Of Trusts Personal Trusts Testamentary Trusts Vs. Inter Vivos Trusts Taxation Of Trusts Rollovers To A Trust Rollovers To Capital Beneficiaries Year Deemed Disposition Rule Net Income For Tax Purposes Of A Trust. 885 Preferred Beneficiary Election Amounts Deemed Not Paid Amounts Retained For A Beneficiary Taxable Income Of A Trust Income Allocations To Beneficiaries Discretionary And Non-Discretionary Distributions Flow Through Provisions Principal Residence Exemption Tax Payable Of Personal Trusts Calculation Of Basic Amount Other Tax Payable Considerations Income Attribution - Trusts Purchase Or Sale Of An Interest In A Trust 894 Tax Planning Qualifying Spousal Trusts Alter Ego Trusts Joint Spousal Trusts Estate Planning Estate Freeze Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems CHAPTER 20 International Issues In Taxation Introduction Residence Residence Of Individuals Residence Of Corporations Residence Of Trusts Part I Tax On Non-Residents Carrying on Business in Canada Canadian Source Employment Income Dispositions of Taxable Canadian Property Part XIII Tax On Non-Residents Interest Payments Dividend Payments Royalty Payments Rental Income Pension Payments, Other Retirement Benefits 930 Shareholder Loans To Non-Residents Immigration And Emigration Entering Canada - Immigration Departures From Canada - Emigration Unwinding A Deemed Disposition Short-Term Residents Foreign Source Income Of Canadian Residents Foreign Investment Reporting Requirements. 936 Foreign Source Employment Income Foreign Source Business Income Foreign Source Interest Income Foreign Source Capital Gains Foreign Source Dividend Income - Problems. 940 Foreign Source Dividends Received By Individuals Foreign Dividends Received From Non-Affiliated Corporations Dividends Received From Non-Controlled Foreign Affiliates Dividends Received From Controlled Foreign Affiliates Foreign Accrual Property Income (FAPI) Key Terms Used In This Chapter References Problems For Self Study (Online) Assignment Problems
7 Table Of Contents (Volume 2) xvii CHAPTER 21 GST/HST Introduction Transaction Tax Concepts Value Added Tax (VAT) Liability For GST/HST The Concept Of Supply Supply Categories Taxable Supplies Exempt Supplies Applying the GST/HST Rate Place Of Supply Applying The Rate Collection And Remittance Of GST/HST Registration Meaning Of Person For GST/HST Who Must Register Exemption For Small Suppliers Input Tax Credits VendorsOfFullyTaxableAnd Zero-Rated Supplies Vendors Of Exempt Supplies Examples Relief For Small Businesses Quick Method Of Accounting Small Suppliers Exemption Streamlined Input Tax Credit Method GST/HST Procedures And Administration. 987 GST/HST Returns And Payments Associated Persons Refunds And Rebates Books And Records Appeals General Anti-Avoidance Rule Employee And Partner GST/HST Rebate General Concept Calculating The GST/HST Rebate Amount Example Residential Property, New Housing Rebate 992 General Rules For Residential Property New Housing Rebate CHAPTER 21, continued Sale Of A Business Specific Applications Partnerships And GST/HST Trusts And GST/HST Key Terms Used In This Chapter Problems For Self Study (Online) Assignment Problems STUDY GUIDE Your two volume textbook is accompanied by a separate Study Guide available in print and online. The chapters of this Study Guide correspond to the chapters of Byrd & Chen's Canadian Tax Principles. Each of these Study Guide chapters contains the following: Detailed guidance on how to work through the text and problems in the chapter. Detailed solutions to the Exercises in the textbook and online Self Study Problems for the chapter. A list of learning objectives for the material in the chapter. In addition, the Study Guide contains: Two sample personal tax returns and two Self Study Tax Software Problems in Chapters 4 and 11. A sample corporate tax return in Chapter 13. An extensive Glossary.
CONTENTS VOLUME II VOLUME I. The detailed contents of both Volume I and II follow. The textbook is published in two Volumes:
CONTENTS The textbook is published in two Volumes: Volume I = Chapters 1 to 10 Volume II = Chapters 11 to 21 Chapter I Chapter II 1 Introduction To Federal Taxation In Canada 11 Taxable Income and Tax
More informationCONTENTS VOLUME II VOLUME I. The detailed contents of both Volume I and II follow. The textbook is published in two Volumes:
CONTENTS The textbook is published in two Volumes: Volume I = Chapters 1 to 10 Volume II = Chapters 11 to 21 Chapter I Chapter II 1 Introduction To Federal Taxation In Canada 11 Taxable Income and Tax
More informationCHAPTER 2 CHAPTER 1. Procedures And Administration. Introduction To Federal Taxation In Canada. xviii Table Of Contents (Volume 1)
xviii Table Of Contents (Volume 1) CHAPTER 1 Introduction To Federal Taxation In Canada The Canadian Tax System.......... 1 Alternative Tax Bases.......... 1 Taxable Entities In Canada........ 2 Federal
More informationCONTENTS VOLUME II VOLUME I. The detailed contents of both Volume I and II follow. The textbook is published in two Volumes:
CONTENTS The textbook is published in two Volumes: Volume I = Chapters 1 to 10 Volume II = Chapters 11 to 21 Chapter I Chapter II 1 To Federal Taxation In Canada 11 Taxable Income and Tax Payable For Individuals
More informationCONTENTS CHAPTER 1. CHAPTER 1, continued CHAPTER 2. Introduction To Federal Taxation In Canada. Income Or Loss From An Office Or Employment.
xvii CONTENTS CHAPTER 1 Introduction To Federal Taxation In Canada The Canadian Tax System.......... 1 Alternative Tax Bases.......... 1 Taxable Entities In Canada........ 2 Federal Taxation And The Provinces....
More informationNON-ARM S LENGTH TRANSFERS OF PROPERTY
TABLE OF CONTENTS Dedication... Preface... Table of Cases... Table of Statutory References... iii v xiii xxxiii 1 INTRODUCTION... 1 1.1 General... 1 1.2 Arrangements... 2 2 NON-ARM S LENGTH TRANSFERS OF
More informationForeword...iii What s New...xvii
TABLE OF CONTENTS Foreword...iii What s New...xvii Chapter 1: Introductory Concepts 1.1 Introduction...1 1.2 Tax Systems Around the World...3 1.3 Income to Date of Death...4 1.4 Deemed Realization of Income...4
More informationCourse-Level Assessment Project: Computation of Taxes Payable and Providing Tax Planning Advice to a Corporate Client
Course Description This course builds on concepts learned in introductory financial accounting and microeconomics and in the study of the fundamentals of the Canadian Income Tax System with respect to
More informationTaxation of Trusts & Estates Curriculum
Taxation of Trusts & Estates Curriculum This document includes: - Knowledge & Skills Objectives - Topics Covered Knowledge & Skill Objectives Detailed objectives are contained in each chapter of the text
More informationTOPICAL INDEX 763. Page
TOPICAL INDEX A Accounting income vs. income for tax purposes... 239-240 Accounts receivable sale... 293-294, 696 Accrued losses... 482-484 Accumulating designated income of a trust... 576 Acquisition
More informationGLOSSARY A B C D E F G H I J L M N O P Q R S T U V W Z
1 Canadian Tax Principles Student Edition / Glossary lossary GLOSSARY A B C D E F G H I J L M N O P Q R S T U V W Z Canadian Tax Principles Student Edition / Glossary / A A A Accrual Basis - A method of
More informationBad debt , 259, 285, , 683, 723 Bad debt recoveries
TOPICAL INDEX A Accounting income vs. income for tax purposes... 235-236 Accounts receivable sale... 284-286, 678 Accrued losses... 464-466 Accumulating designated income of a trust... 558-559 Acquisition
More informationIndex. A Inventory valuation, 199. Landscaping, 209
Index A Inventory valuation, 199 Academic prize income, 134 Investigation of site, 210 Accounting net income vs. tax Landscaping, 209 net income, 41-2, 198-210 Lease cancellation cost, 209 Accounting depreciation
More informationACCOUNTING DEPARTMENT
ACCOUNTING DEPARTMENT Course: BAC 332B - TAXATION II / WINTER 2014 Professor: Anthony Vallée Email: avallee@ubishops.ca COURSE OBJECTIVES: This course builds upon the principles and concepts of Canadian
More informationExplanatory Notes to Legislative Proposals Relating to Income Tax. Published by The Honourable James M. Flaherty, P.C., M.P. Minister of Finance
Explanatory Notes to Legislative Proposals Relating to Income Tax Published by The Honourable James M. Flaherty, P.C., M.P. Minister of Finance November 2006 Explanatory Notes to Legislative Proposals
More informationDeath & Taxes When Life s Two Certainties Collide. Shaun M. Doody
Death & Taxes When Life s Two Certainties Collide Shaun M. Doody 1 2 INTRODUCTION Death and taxes are two certainties that have been with us just about from the beginning of civilization No other tax event
More informationSyllabus and Examination Topics
Syllabus and Examination Topics Advanced Accounting and Reporting I. Financial Statement Concepts 1. Concepts of Financial Reporting 2. Standards for presentation and disclosure: i. Balance Sheet ii. Income
More informationCourse-Level Assessment Project: Computation of Taxes Payable and Providing Tax Planning Advice to a Client
Course Description This course builds on concepts learned in introductory financial accounting and microeconomics and in the study of the fundamentals of the Canadian Income Tax System with respect to
More informationTAX LETTER. January 2016
TAX LETTER January 2016 DRAFT LEGISLATION FOR 2016 TAX CHANGES FINANCE PROPOSES CHANGES TO RULES GOVERNING SPOUSAL AND SIMILAR TRUSTS TAX-FREE TRANSFERS OF PROPERTY TO YOUR CORPORATION CAPITAL DIVIDENDS
More informationALTER EGO TRUSTS AND JOINT PARTNER TRUSTS
ALTER EGO TRUSTS AND JOINT PARTNER TRUSTS This issue of the Legal Business Report provides current information to the clients of Alpert Law Firm on estate planning, including alter ego and joint partner
More informationRevised Explanatory Notes Relating to Income Tax
Revised Explanatory Notes Relating to Income Tax Published by The Honourable Paul Martin, P.C., M.P. Minister of Finance June 2000 Revised Explanatory Notes Relating to Income Tax Published by The Honourable
More informationDetailed Table of Contents
Detailed Table of Contents CHAPTER1 FIRSTPRINCIPLESANDBEST PRACTICES 1.1 The Art of Reading the Income Tax Act... 4 (a) General Structure of the Income Tax Act... 4 (b) Specific Provisions of the Act...
More informationBroadening the definition of split income for kiddie tax purposes - $190 million
2014 FEDERAL BUDGET By Jerry S. Rubin, B.E.S., B.Comm.(Hons), CMA, TEP, CFP Tax highlights from the 2014 federal budget Finance Minister James Flaherty tabled the 2014 federal budget on February 11, 2014.
More informationTaxpayer Migration. COLIN CAMPBELL 2011 TAX LAW FOR LAWYERS May 31, 2011
Taxpayer Migration COLIN CAMPBELL 2011 TAX LAW FOR LAWYERS May 31, 2011 EMIGRATION Objective of Rules Tax gains that have accrued while resident in Canada Deemed disposition and reacquisition of property
More informationINDEX. Segregated funds, Structured pre-1990 contracts, settlements deferred annuities, accrual taxation rules,
INDEX 21-year deemed disposition rule, 328 329 Crummey trust and, 353 A Accounting for life insurance, 224 226 Accounting standards, 71 72 Accrual reporting annuities, 431 433 keyperson insurance strategy
More informationINDEX. pro-rating, 11
INDEX A grandfathered policies, 11, 12, 13 21-year deemed disposition rule, keyperson insurance strategy and, 301 302 205, 207, 208 Crummey trust and, 325 pro-rating, 11 Accounting for life insurance,
More informationDeath and Taxes It s Never Too Early To Plan. Franklin H. Famme, CPA, CA
Death and Taxes It s Never Too Early To Plan Franklin H. Famme, CPA, CA Benjamin Franklin Agenda Understanding Estates Taxes Upon Death Probate Income Tax Taxes After Death Understanding Estates Jointly-Held
More informationTaxation Overview. 2018, Chartered Professional Accountants of Canada. All Rights Reserved.
Chartered Professional Accountants of Canada, CPA Canada, CPA are trademarks and/or certification marks of the Chartered Professional Accountants of Canada. 2018, Chartered Professional Accountants of
More informationRecent Developments in Corporate Taxation Post-Mortem Tax Planning A Case Study
Recent Developments in Corporate Taxation Post-Mortem Tax Planning A Case Study 2017 Pamela Cross, Borden Ladner Gervais, LLP David Mason, Deloitte June 7, 2017, OTTAWA Agenda - Post Mortem Planning 1.
More informationExplanatory Notes Relating to the Income Tax Act, Excise Tax Act, Excise Act, 2001 and Related Texts
Explanatory Notes Relating to the Income Tax Act, Excise Tax Act, Excise Act, 2001 and Related Texts Published by The Honourable William Francis Morneau, P.C., M.P. Minister of Finance October 2016 Preface
More informationCDSG, see Canada Disability Savings. Bonds
Accident, unable to file due to, 140 Accrual rules (interest), 109-10 Adjusted cost base, 91 of interest in partnership, 179-80 Administration, Chapter 9 Adoption expenses, 22, 239-40 Advisers, see Professional
More informationCurrent Issues British Columbia Tax Conference Vancouver, BC
2016 British Columbia Tax Conference Vancouver, BC Current Issues Disclaimer: This material is for educational purposes only and is not intended to be advice on any particular matter. No one should act
More informationFor 2016 and subsequent taxation years, various post mortem tax planning strategies will only be available to a Graduated Rate Estate ( GRE ).
1 2 For 2016 and subsequent taxation years, various post mortem tax planning strategies will only be available to a Graduated Rate Estate ( GRE ). Therefore it is essential that planning is undertaken
More informationTax Letter CAPITAL GAINS EXEMPTION AND PROPOSED CHANGES. Example
Marc Brazeau CPA, CA, Partner Tax Letter Monthly Newsletter October 2017 CAPITAL GAINS EXEMPTION AND PROPOSED CHANGES The capital gains exemption allows Canadian resident individuals to earn tax-free capital
More informationStrong Leadership: A Balanced-Budget, Low-Tax Plan for Jobs, Growth and Security
Strong Leadership: A Balanced-Budget, Low-Tax Plan for Jobs, Growth and Security HIGHLIGHTS Deficit of $2 billion for 2014-15 Projected surplus of $1.4 billion for 2015-16 Small business tax rate reduced
More informationTHE MARCH 29, 2012 FEDERAL BUDGET
THE MARCH 29, 2012 FEDERAL BUDGET This issue of the Legal Business Report provides current information to the clients of Alpert Law Firm on the March 29, 2012 Federal Budget. Although these proposals are
More informationTABLE OF CONTENTS TABLE OF CONTENTS PERSONAL TAX
TABLE OF CONTENTS TABLE OF CONTENTS PERSONAL TAX How To Use the Tables... 1 Income Tax Table (2015) Quebec Residents... 2 Income Tax Table (2015) Provinces Other Than Quebec... 4 Federal Tax Rates... 6
More informationTAX LETTER. August 2015
TAX LETTER August 2015 ASSOCIATED CORPORATIONS DEATH AND INCOME TAXES SALE OF BUILDING WITH TERMINAL LOSS AND LAND WITH GAIN RESERVES FOR RECEIVABLES PRESCRIBED INTEREST RATES AROUND THE COURTS ASSOCIATED
More informationTable of Contents. About the Author...v
Table of Contents About the Author...v Preface... vii Chapter 1 IMMIGRATION TO CANADA...1 Skilled Immigrants (Express Entry)...2 How express entry works...2 Determine your Eligibility Federal Skilled Workers...
More informationTAX NEWSLETTER. October 2017
TAX NEWSLETTER October 2017 CAPITAL GAINS EXEMPTION AND PROPOSED CHANGES EMPLOYEE LOANS (INCLUDING RECENT CHANGES TO HOME RELOCATION LOANS) TAXATION OF DIVIDENDS TRANSFERS OF PROPERTY TO TRUSTS AROUND
More informationTable of Contents General Comments Factual Residence Deemed Residence Residency Questions and Answers
Table of Contents Chapter 1 CANADIAN RESIDENT...1 General Comments...1 Factual Residence...1 Establishing Non-Resident Status...2 INCOME TAX FOLIO S5-F1-C1: Determining an Individual s Residence Status...3
More informationTaxation on the Transfer of Farm Business Assets to Family Members R.W. Gamble
Taxation on the Transfer of Farm Business Assets to Family Members R.W. Gamble ORDER NO. 09-015 AGDEX 827 APRIL 2009 Replaces OMAFRA Factsheet 03-023, Taxation on the Transfer of Farm Business Assets to
More informationThe credit will apply in respect of expenditures made on or after January 1, 2016.
April 21, 2015 Federal Budget STEP Canada Summary 1. PERSONAL INCOME TAX PROPOSALS Tax-Free Savings Account Increased Contribution Limit Budget 2015 proposes to increase the annual contribution limit for
More informationDetailed Table of Contents
Detailed Table of Contents Chapter 1 Personal Tax Filing and Payment Requirements 1000 Introduction to Canadian Income Tax 1010 Sources of Tax Law 1020 Liability for Canadian Tax 1100 Filing Requirement
More informationExplanatory Notes Relating to the Income Tax Act and Related Regulations
Explanatory Notes Relating to the Income Tax Act and Related Regulations Published by The Honourable James M. Flaherty, P.C., M.P. Minister of Finance October 2011 Explanatory Notes Preface These explanatory
More informationManaging Your Personal Taxes. A Canadian Perspective
2012 13 Managing Your Personal Taxes A Canadian Perspective Opportunities abound. We can help guide you in the right direction. Foreword 31 August 2012 If there s one thing everyone can agree on, it s
More informationTAX LETTER. April 2014
TAX LETTER April 2014 FEDERAL BUDGET TAX HIGHLIGHTS CHARITABLE DONATIONS MADE BY YOUR ESTATE ALLOWABLE BUSINESS INVESTMENT LOSSES TAX-FREE GIFTS FOR EMPLOYEES CAPITAL GAINS SPLITTING WITH YOUR MINOR CHILDREN
More informationWhat is a trust? Creating a living trust. Parties to a trust. Potential uses of a trust. Taxation of trust income. Assets held in a trust
The Navigator RBC Wealth Management Services Living / family trusts A living trust can be an effective wealth planning tool in appropriate circumstances, facilitating strategies such as income splitting,
More informationTAX NEWSLETTER. because that is the Part of the Income Tax Act that imposes this tax. November 2018
TAX NEWSLETTER November 2018 INTER-CORPORATE DIVIDENDS CHARITABLE DONATIONS ON DEATH TAXATION OF PUT AND CALL OPTIONS EMPLOYEE STOCK OPTIONS AROUND THE COURTS INTER-CORPORATE DIVIDENDS General Rule Normally,
More informationEstate Planning and the Use of Trusts CONTENTS Page Estate Planning Fundamentals 1
- 1 - Estate Planning and the Use of Trusts CONTENTS Page Estate Planning Fundamentals 1 1. Income-Splitting 2 2. Deferral of Tax 2 3. Use of Tax Deductions, Exemptions and Credits 4 Inter-Vivos Estate
More informationLEGISLATIVE PROPOSALS RELATING TO INCOME TAX AND SALES AND EXCISE TAXES PART 1 INCOME TAX
1 LEGISLATIVE PROPOSALS RELATING TO INCOME TAX AND SALES AND EXCISE TAXES PART 1 INCOME TAX Value of benefits Where standby charge does not apply INCOME TAX ACT 1. (1) Paragraph 6(1)(a) of the Income Tax
More informationBudget 2018 What does it mean to you?
Budget 2018 What does it mean to you? March 2018 Tax alert On February 27, 2018, Finance Minister Bill Morneau presented the government s 2018-2019 federal budget. A full summary of the proposed tax measures
More informationREFERENCE GUIDE Tax Planning For The Transfer Of Your Family Farm During Your Lifetime
REFERENCE GUIDE Tax Planning For The Transfer Of Your Family Farm During Your Lifetime Although this material has been compiled from sources believed to be reliable, we cannot guarantee its accuracy or
More informationTABLE OF CONTENTS Chapter 1 Filing Requirements and Administration Chapter 2 Completing the T3 Trust Information and Income Tax Return
TABLE OF CONTENTS Acknowledgements... iii Chapter 1 Filing Requirements and Administration 1.1 Who Should File?... 1 1.2 Where to File... 2 1.3 How to File... 2 1.3.1 Paper Return, Summary and Slips...
More informationPrincipal Residence Rules An Update
Principal Residence Rules An Update Presented by: Josh Harnett December 7, 2016 Table of Contents 1. One Plus Rule 2. Trusts 3. Subsection 107(4.1) 4. Compliance Rules 2 One Plus Rule Current Rule Individual
More informationTODAY S TRUSTS FOR ESTATE PLANNING
TODAY S TRUSTS FOR ESTATE PLANNING Jana Steele and Mariana Silva* There are a variety of options available to individuals who are interested in using trusts as part of their estate plan. This paper discusses
More informationINCORPORATING YOUR FARM BUSINESS
INCORPORATING YOUR FARM BUSINESS If you carry on a farm business, and have significant income, transferring the farm business to a corporation may provide some benefits as there are tax planning opportunities
More informationRecent Tax Developments Impacting Insurance Planning
Recent Tax Developments Impacting Toronto, LL.B, CLU, TEP Overview Exempt Test Update New Charitable Gifting Legislation Trust Legislation LIA Grandfathering CRA Update Life insurance in spousal trusts
More informationProtected B when completed 055 Do not use this area. 200 Code Business number (BN)... Corporation's name
T2 Corporation Income Tax Return (2014 and later tax years) This form serves as a federal, provincial, and territorial corporation income tax return, unless the corporation is located in Quebec or Alberta.
More informationT2 Corporation Income Tax Return (2018 and later tax years)
T2 Corporation Income Tax Return (2018 and later tax years) This form serves as a federal, provincial, and territorial corporation income tax return, unless the corporation is located in Quebec or Alberta.
More informationno one else is allowed to receive the capital of the trust during your lifetimes.) TAX NEWSLETTER January 2010
TAX NEWSLETTER January 2010 TAX-FREE TRANSFERS TO YOUR SPOUSE MEAL AND ENTERTAINMENT EXPENSES ESTATES AND TESTAMENTARY TRUSTS FOREIGN ACCRUAL PROPERTY INCOME (FAPI) CARRYING OVER LOSSES TO OTHER TAXATION
More informationDIVIDEND REGIME FAIZAL VALLI, CA 1
POST-MORTEM AND SHAREHOLDER AGREEMENT CONSIDERATIONS IN LIGHT OF THE ELIGIBLE Introduction DIVIDEND REGIME FAIZAL VALLI, CA 1 The purpose of this paper is to demonstrate the complexities of allocating
More informationTestamentary Trusts. Presented to: Nakamun Financial Group. February 1, 2008
Testamentary Trusts Commentary included in this presentation includes excerpts from Practitioner s Guide to Trusts, Estates and Trust Returns 2006-2007 [published by Thomson Canada Limited], co-authored
More informationManaging the Sales of Canadian Businesses A Vendor s Perspective
, Borden Ladner Gervais LLP, Toronto, CPA, CA, TEP, Cadesky Tax, Toronto 67 th Annual Tax Conference 67e Conférence fiscale annuelle 2015 Our Current Tax and Business Environment Low corporate tax rates
More information2012 FEDERALBUDGETANALYSIS. March29,2012
2012 FEDERALBUDGETANALYSIS March29,2012 TABLEOFCONTENTS PersonalIncomeTaxMeasures BusinessIncomeTaxMeasures InternationalTaxationMeasures SalesandExciseTaxMeasures OtherMeasures PERSONAL INCOME TAX MEASURES
More informationUPDATE. October Did You Know
TAX UPDATE Did You Know Davidson & Company LLP will be hosting the second seminar of the Back to School Seminar Series on November 1st at the Four Seasons Hotel: 2017 IFRS Update & Current Issues. Register
More informationBalance Sheet. Corporation's name Business Number Tax year-end YYYY/MM/DD Canadian Corporations October 2017 NO 1 Inc RC /06/30
Version 2017.2 FT16 Balance Sheet Corporation's name Business Number Tax year-end YYYY/MM/DD Canadian Corporations October 2017 NO 1 Inc 98774 5494RC0001 2017/06/30 Assets Current Year Previous Year Cash
More informationChapter Five Review Questions and Answers
Chapter Five Review Questions and Answers QUESTIONS 1. Consider each of the following trusts. Indicate when the first T3 Return is required to be filed. Briefly explain your answer. The Purple Family Trust
More informationTaxation of Trusts and Estates in Canada: Tutorial May, 2016
Taxation of Trusts and Estates in Canada: Tutorial May, 2016 Wendy D. Templeton, B.A., J.D., CFP, TEP BASMAN SMITH LLP 1 Dundas Street West, Suite 2400, Box 37 Toronto, ON M5G 1Z3 Phone: 416 860-1978 wtempleton@basmansmith.com
More informationPurchase and Sale of a Business Share Sales. Douglas A. Cannon
Purchase and Sale of a Business Share Sales Douglas A. Cannon Planning the Transaction Individuals are generally subject to a combined Ontario/federal tax rate of 26.57% on eligible dividends and at a
More informationSweeping Proposed Tax Changes to Private Corporations
Sweeping Proposed Tax Changes to Private Corporations Speakers: Kay Leung, Business & Tax Law Wesley Isaacs, Business & Tax Law Marc Weisman, Business & Tax Law Moderator: Ari Tenenbaum, Business Law August
More informationTable of Contents. Business Entities Partnerships... 41
Table of Contents Business Entities... 1 General Information....1 Sole Proprietorship....1 Partnership....1 Corporation....4 S Corporation....5 Farmers....5 Exempt Organizations....6 Limited Liability
More informationIndex. Current to Release TAL 15-3 ( Rel. 3)
3 Index Current to Release 15-3 Advance income tax rulings. costs, 9-5. retiring allowances, 45-51 to 45-55. structured settlements, 2-71, 2-104 to 2-106, 45-1 to 45-9 Alberta Business Corporations Act.
More informationTable of Contents Overview...iii Introduction... 1 General Comments... 1 Legislation Scheme... 1 Overview of Foreign Affiliate Taxation System...
Table of Contents...iii Introduction... 1 General Comments... 1 Legislation Scheme... 1 of Foreign Affiliate Taxation System... 2 Taxation of Foreign Affiliate Earnings... 2 FAPI Rules... 2 Additional
More informationTAX LETTER. February 2015
TAX LETTER February 2015 TAX BRACKETS AND CREDIT AMOUNTS FOR 2015 PERSONAL USE PROPERTY CARRYING LOSSES OVER TO OTHER YEARS MOVING FROM CANADA: TAX IMPLICATIONS TESTAMENTARY TRUSTS: LAST YEAR FOR PREFERENTIAL
More informationTax Letter SHAREHOLDER BENEFITS AND LOANS
Luc Labbé CPA, CA, CIA, Partner Tax Letter Monthly Newsletter February 2017 SHAREHOLDER BENEFITS AND LOANS There are various provisions in the Income Tax Act that prevent you from taking money or property
More informationTrusts - Basic Concept Taxation of Trusts Uses of Trusts Spousal Trust Farm Purification Strategic Philanthropy Alter Ego Trust Conclusion
Trusts - Basic Concept Taxation of Trusts Uses of Trusts Spousal Trust Farm Purification Strategic Philanthropy Alter Ego Trust Conclusion TRUSTS IN FARM TRANSITION PLANNING Trusts can be a valuable planning
More information2013 FEDERAL BUDGET. Tax highlights from the 2013 federal budget PERSONAL TAX MATTERS. Personal income tax rates
2013 FEDERAL BUDGET By Jerry S. Rubin, B.E.S., B.Comm.(Hons), CMA, TEP, CFP Tax highlights from the 2013 federal budget Finance Minister James Flaherty tabled the 2013 federal budget on March 21, 2013.
More informationCapital gains and losses. revenuquebec.ca
Capital gains and losses 2011 revenuquebec.ca Accurately calculating and reporting any taxable capital gains or deductible capital losses from the sale of property allows you to properly determine your
More informationPROPOSED AMENDMENTS TO
TAX LETTER April 2016 PROPOSED AMENDMENTS TO DONATION RULES FOR ESTATES THE DIVIDEND TAX CREDIT TAXATION AND PARTNERSHIPS LOW-INTEREST EMPLOYEE LOANS REPLACEMENT PROPERTY RULES AROUND THE COURTS PROPOSED
More informationLorena Boda, Manager, Grant Thornton LLP Craig Ross, Partner, Pallett Valo LLP Andrew Somerville, Senior Manager, Grant Thornton LLP
Lorena Boda, Manager, Grant Thornton LLP Craig Ross, Partner, Pallett Valo LLP Andrew Somerville, Senior Manager, Grant Thornton LLP Outline What is Estate Planning? Estate Planning Considerations Post-mortem
More informationTAX NEWSLETTER. November 2011
TAX NEWSLETTER November 2011 NEW FAMILY CAREGIVER TAX CREDIT TAXATION OF TRUSTS AND BENEFICIARIES ESTATES AND TESTAMENTARY TRUSTS SUPERFICIAL LOSSES SMALL BUSINESS DEDUCTION FOR ACTIVE BUSINESS INCOME
More informationFederal Budget Commentary 2015
On April 21, 2015 the Honourable Joe Oliver, Minister of Finance, presented Canada s Economic Action Plan (Budget) 2015 to the House of Commons. The Government's fiscal positions include a deficit in the
More informationEstates & Trusts The New G.R.E. Regime
Estates & Trusts The New G.R.E. Regime Monday October 5, 2015 Larry Frostiak, Frostiak & Leslie & Daniel Watts, Aikins Contents 1. New Tax Rules 2. New vs Old A Comparative Summary 3. A checklist of planning
More information2015 EA Exam Review Course Part II: Business Taxation
Table of Contents Business Entities... 1 General Information... 1 Sole Proprietorship... 1 Partnership... 2 Corporation... 3 S Corporation... 4 Limited Liability Company... 5 Employer Identification Number...
More informationIndex. A AMT, see Alternative minimum tax Alternative minimum tax, 87 Arrival date, 49 50
Index A AMT, see Alternative minimum tax Alternative minimum tax, 87 Arrival date, 49 50 B Board and lodging, 95 remote work site exception, 96 Business immigrant applicants, 8 entrepreneurs, 8 investors,
More informationNavigator. Alter ego and joint partner trusts. The. An estate planning strategy to protect your wealth
The Navigator RBC Wealth Management Services Weatherill Wealth Management Group Alter ego and joint partner trusts An estate planning strategy to protect your wealth Brad Weatherill, CIM Vice President
More informationSECTION 86 ROLLOVERS, AMALGAMATIONS, SECTION 88 WIND-UPS
SECTION 86 ROLLOVERS, AMALGAMATIONS, SECTION 88 WIND-UPS This issue of the Legal Business Report provides current information to the clients of Alpert Law Firm on various types of corporate reorganisations.
More information2018 FEDERAL BUDGET SUMMARY. February 27
2018 FEDERAL BUDGET SUMMARY February 27 TABLE OF CONTENTS Introduction Personal Income Tax Measures Business Income Tax Measures International Taxation Sales and Excise Tax Measures Proposed Consultations
More informationExplanatory Notes to Legislative Proposals Relating to Income Tax. Published by The Honourable James M. Flaherty, P.C., M.P. Minister of Finance
Explanatory Notes to Legislative Proposals Relating to Income Tax Published by The Honourable James M. Flaherty, P.C., M.P. Minister of Finance July 2010 Explanatory Notes to Legislative Proposals Relating
More informationOctober 2017 Tax Newsletter
FRUITMAN KATES LLP CHARTERED PROFESSIONAL ACCOUNTANTS 1055 EGLINTON AVENUE WEST TORONTO, ONTARIO M6C 2C9 TEL: 416.920.3434 FAX: 416.920.7799 www.fruitman.ca Email: info@fruitman.ca October 2017 Tax Newsletter
More informationSHARE PURCHASE TRANSACTIONS PART 1
SHARE PURCHASE TRANSACTIONS PART 1 This issue of the Legal Business Report provides current information to the clients of Alpert Law Firm on the major tax considerations arising from the purchase and sale
More informationIncome Tax INTERPRETATION AND ADMINISTRATIVE BULLETIN CONCERNING THE LAWS AND REGULATIONS
INTERPRETATION AND ADMINISTRATIVE BULLETIN CONCERNING THE LAWS AND REGULATIONS Income Tax IMP. 726.20.1-1 Additional Capital Gains Exemption in respect of Certain Resource Properties Date of publication:
More informationExplanatory Notes Legislative Proposals Relating to Income Taxation of Certain Trust and Estates
Explanatory Notes Legislative Proposals Relating to Income Taxation of Certain Trust and Estates These notes are intended for information purposes only and should not be construed as an official interpretation
More informationREFERENCE GUIDE Charitable Giving
REFERENCE GUIDE Charitable Giving Although this material has been compiled from sources believed to be reliable, we cannot guarantee its accuracy or completeness. All opinions expressed and data provided
More informationCanada: Taxation Law Overview
Canada: Taxation Law Overview Stikeman Elliott LLP Taxation Law Overview Income Tax... 2 General... 2 Taxation of Canadian Residents (Basic Principles)... 2 Taxation of Non-Residents of Canada (Basic Principles)...
More informationTrusts An Introduction
Trusts can be highly effective wealth management vehicles, especially for income splitting, tax and estate planning purposes and wealth protection. A trust is an arrangement whereby a settlor transfers
More informationTAX LETTER. February 2019
TAX LETTER February 2019 DEBT FORGIVENESS RULES TAXATION OF TRUSTS AND BENEFICIARIES RRSP vs. TFSA WHERE TO CONTRIBUTE? PRESCRIBED AUTOMOBILE RATES FOR 2019 AROUND THE COURTS DEBT FORGIVENESS RULES If
More information2008 HYDRO ONE NETWORKS INCOME TAX RETURN
Filed: May 19, 2010 EB-2010-0002 Exhibit C2 Tab 5 Schedule 2 Page 1 of 1 1 2008 HYDRO ONE NETWORKS INCOME TAX RETURN 2 3 4 5 6 7 Attachment A: Federal and Ontario Income Tax Return Attachment B: Calculation
More informationN/A. Yes. Students are expected to review and understand all areas of the course outline.
Course Outline School: Department: Business Accounting Course Title: Taxation 1 Course Code: ACCT 226 Course Hours/Credits: 56 Prerequisites: ACCT 112, ACCT 123, BA 112 Co-requisites: Eligible for Prior
More information