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History repeating

Highlights of the Federal and British Columbia HST Transitional Rules, as released February 17, 2012. [February 22, 2012] More...

GST/HST registration: Change to the rules for voluntary registration

The CRA has recently changed its administrative policy around the timelines for voluntary registration of GST/HST. This means that every new business should likely be registered immediately, if the expectation is that it might make an acquisition in respect of a commercial activity. [February 17, 2012] More...

Straight from the source—Canada’s first Supreme Court transfer pricing case

On January 13, 2012, arguments were heard by the Supreme Court of Canada in the matter of Her Majesty the Queen v. GlaxoSmithKline Inc. The case involves the pricing of intercompany transactions between Glaxo Canada, a Canadian corporation, and related corporations in the United Kingdom and Switzerland, Glaxo Group Ltd. (“Glaxo Group”) and Adechsa S.A. (“Adechsa”), respectively, during the 1990 to 1993 taxation years. The appeal was brought by the Crown. [February 7, 2012] More...

Elimination of tax deferral for joint venture participants

Since 1989, the Canada Revenue Agency (CRA) has administratively permitted a joint venture (JV) to have a fiscal period that was different from the fiscal periods of the JV participants. In many cases, this policy has allowed a JV participant to realize a tax deferral similar to that enjoyed by corporate partners of a partnership. [December 16, 2011] More...

Guidance for US citizens resident outside the US

The IRS has recently released a fact sheet to address a number of issues of concern to US citizens or dual citizens who reside outside of the US. The issues revolve around the failure to make certain required filings—specifically, federal income tax returns and Reports of Foreign Bank and Financial Accounts (FBARs). [December 9, 2011] More...

Reminder: Quebec sales tax rate increases on January 1, 2012

On January 1, 2012, the Quebec Sales Tax (QST) will increase by 1% to 9.5%. [December 6, 2011] More...

Grace period ends for most tax-exempt entities

Municipalities and most other tax-exempt entities that do not complete and file their corporate income tax returns may find that their GST/HST rebates and refunds will be withheld by the Canada Revenue Agency (CRA). [November 29, 2011] More...

Straight from the source—OECD on course for draft guidance on transfer pricing for intangible assets

An overview of the developments that came out of the three-day conference where representatives of OECD member country tax administrations met with multinational businesses and experts to discuss the future of the transfer pricing aspects of intangible assets. [November 24, 2011] More...

Donating public company shares to a charity

Have you ever considered donating publicly traded securities such as stocks and bonds to a charity? This is a smart and tax-effective alternative to the donation of cash. How you structure your charitable donations can be as important as the amounts you give—both for the charity and for you as the donor. [November 23, 2011] More...

Upcoming changes to the CPP rules

The Canada Pension Plan (CPP) rules are changing, with the majority of these changes effective January 1, 2012. These new rules will impact you if you’re between the ages of 60 and 70, and have either started collecting CPP benefits or will soon have to decide when to start collecting benefits. [November 17, 2011] More...

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