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CAVCO Expands Eligible Platforms That Satisfy "Shown In Canada" Requirement; Online Platforms May Now Be CPTC Eligible
On March 6, 2017, CAVCO issued three public notices regarding eligibility for the Canadian Film or Video Production Tax Credit , one of which is of particular interest to non-Canadian OTT service providers.
10 Apr 2017
Liberal Government Abandons Proposed Changes To Taxation Of Employee Stock Options
On March 22, 2016, the Liberal government delivered its first budget ("Budget 2016"), which focuses on growing the middle class.
7 Apr 2016
Proposed Changes To Tax Treatment Of Stock Options Under New Liberal Government
On November 4, 2015, Liberal leader Justin Trudeau was sworn in as Canada's 23rd prime minister.
19 Nov 2015
Canadian Budget Proposal Affects Cross-Border Financing
The Canadian federal budget tabled on March 29, 2012 (the "Budget") proposed a number of important amendments that affect cross border planning with Canadian corporations.
12 Apr 2012
2012 Ontario Budget: Pension Changes
The 2012 Ontario Budget (the "Budget"), released on March 27, contains several changes related to pension plans.
2 Apr 2012
Finance Releases Proposed Amendments to the Qualifying REIT Rules
On December 16, 2010, the Department of Finance ("Finance") announced proposed amendments to the rules in the Income Tax Act (Canada) applicable to real estate investment trusts (the "Qualifying REIT Rules").
12 Jan 2011
2010 Federal Budget Amendments to "Taxable Canadian Property" – Your Questions Answered
It has been over a month since the March 4, 2010 release of the Canadian Federal Budget (the "Budget"). The Budget included proposed amendments that will significantly narrow the definition (the "TCP Definition") of "taxable Canadian property" ("TCP").
26 Apr 2010
Federal Budget Significantly Reduces Section 116 Requirements
In the 2010 Federal Budget, the Department of Finance announced a significant, and very welcome, amendment to the Income Tax Act (Canada) (the "Tax Act"), which should greatly facilitate non-resident investment into Canada.
9 Mar 2010
Ontario Announces Shift To Harmonized Sales Tax
The 2009 Ontario Budget, tabled on March 26, sets out a proposal to harmonize Ontario’s provincial sales tax with the Federal goods and services tax effective July 1, 2010. Ontario will become the fifth province to bring its sales tax in line with the GST (Newfoundland, New Brunswick, and Nova Scotia have harmonized sales taxes, while Québec’s provincial sales tax is parallel to the GST, but is separately administered).
31 Mar 2009
Tax Law Supreme Court Of Canada Releases New Decision On GAAR
On January 8, 2009, the Supreme Court of Canada released the highly anticipated decision of Lipson v. Canada (Lipson).
14 Jan 2009
Department of Finance Releases Conversion Rules for Income Trusts
On July 14, 2008, the Department of Finance ("Finance") released proposed amendments to the Income Tax Act (Canada) (the "Tax Act") to facilitate the conversion of existing income trusts, REITs and other public flow-through entities into corporations on a tax-deferred basis (the "Conversion Rules").
16 Jul 2008
Canada/U.S. Sign New Tax Treaty
The Minister of Finance and the U.S. Secretary of the Treasury signed the fifth protocol to the Canada-United States Income Tax Convention on September 21, 2007. The Protocol contains a number of new technical rules.
30 Sep 2007
Department of Finance Provides Guidance on "Normal Growth" for Income Trusts
On December 15, 2006, the Department of Finance released guidance for income trusts and other flow-through entities that qualify for the four-year transitional relief from the new income trust tax. The guidance establishes objective tests with respect to how much existing income trusts are permitted to grow without jeopardizing their transitional relief.
22 Dec 2006
Acquiring Canadian Income Trusts
On November 7, 2006, Canada’s Parliament approved the Canadian government’s plans to start taxing most publicly traded income trusts starting in 2011 (REITs will generally be exempt, as will income from a trust’s U.S. or other foreign subsidiaries that do not carry on business in Canada).
12 Dec 2006
Canada to Tax Income Trusts and Publicly Traded Partnerships
On November 7, 2006, Canada’s Parliament passed a motion approving the Minister of Finance’s proposals to introduce an entity-level tax on distributions from income trusts and certain publicly-listed Canadian partnerships. The proposed rules, which were announced on October 31, 2006, are intended to eliminate the tax imbalance created by income trusts and aim to tax such entities in the same general manner as corporations. In doing so, the government sought to stem the tide of corpor
16 Nov 2006
Potential Effect Of New Rules Under Section 409A Of The U.S. Internal Revenue Code On Certain Canadian Plans
If your company sponsors an equity incentive plan under which stock options or stock appreciation rights have been granted with an exercise price that was below fair market value at the time of the grant, or a supplemental employee retirement plan.
5 Oct 2006
Manitoba Announces Increases to the Manitoba Film and Video Production Tax Credit
On March 11, 2005, the Manitoba Government announced that Manitoba Film and Sound Recording Development Corporation’s base tax credit will rise from 35% to 45% of eligible Manitoba wages and salaries (or 22.5% of the total eligible production costs of an eligible film if that amount is less). This increase is in addition to the 5% frequent filming bonus for the third project shot within a two-year period in Manitoba and a 5% Rural/Northern bonus introduced last year. Combined, these incentives a
23 Mar 2005
Nova Scotia Announces Increases To The Nova Scotia Film Industry Tax Credit
On March 8, 2005, Nova Scotia Premier John Hamm announced that the Nova Scotia Government has extended the province’s film tax credit for an additional ten years. The Government also announced that it is increasing the tax credit as follows:
22 Mar 2005
British Columbia Government Announces Its Support of the BC Film Industry
On January 20, 2005, Finance Minister Colin Hansen and Premier Gordon Campbell announced BC Film tax credit rate increases for foreign and domestic productions.
27 Jan 2005
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