Top 10 Tax Headlines from Canada Today (May 2, 2013), Ontario Finance Minister, Charles Sousa tabled the province’s 2013 Budget. This year’s budget, titled "A Prosperous and Fair Ontario" is committed to eliminating the deficit by 2017-18 and then reducing the net debt-to-GDP ratio to the pre-recession level of 27%. The billionaire co-founder of Facebook, the only American member of Monty Python, a Civil Rights Leader with a PhD from Harvard, the founder of Carnival Cruise Lines and owner of the Miami Heat NBA franchise, and arguably the best chess mind to ever live have more in common than you might think. The Goods and Services Tax was introduced more than 20 years ago, but many trips and traps continue to catch business operators. Many taxpayers, typically higher net worth individuals, eitherknowingly or unknowingly hold an interest in some type of foreigninvestment property. Is your company sending people to Canada? If so, you may have a tax exposure you didn’t know about. A discussion on certain Canadian income tax implications affecting a resident of a foreign country who is transferred to work in Canada on either a temporary or permanent basis. Many people assume that the US and Canadian tax systems for individuals are similar. The recent decision in Overstock v. New York Taxation and Finance paved the way for an interesting conclusion on the taxing power of New York State - and by extension, the sales tax that may be applied to many online sales, including sales by Canadian online business into the US market. A list of the "likelihood of success" opinions (frequently with percentage thresholds) with respect to a proposed transaction. Budget 2013 proposes a number of changes to the provisions of the Income Tax Act (Canada) (the "Tax Act") governing the taxation of individuals, including (i) an increase in the lifetime capital gains exemption and the indexing of same to inflation, (ii) a reduction in the dividend tax credit rate for "non-eligible" dividends, (iii) an extension of the reassessment period for participants in certain tax shelter arrangements and tax avoidance transactions, and (iv) measures enabling the Canada Re | 
