CALU submission to the Department of Finance to consider an increase in the deduction permitted under section 20.01 of the Income Tax Act for sole proprietors and partners in respect of premiums or contributions to a private health services plan.
INFOexchange volume 1 is now available for members! Chair Barry Pascal reflects on his time as CALU chair as it approaches its end. Followed is our GR Column covering the legislative agenda and governmental updates and two informative articles written by CALU Tax Advisor, Kevin Wark: Does Subsection 70(5.3) apply to corporations? The Underused Housing Tax – A whole new act! (Members only) DOWNLOAD NOW
In this expert CALU Report now available for members, authors Rachel Blumenfeld and Marni Pernica of Aird & Berlis LLP provide an overview of key legislative changes relating to estates and substitute decision-making laws in Canada and discuss recent case law on beneficiary designations and the presumption of resulting trust,
CALU submits recommendations to the Commissioner of Lobbying based on the opinion that the current draft version of the Code contains elements that are unworkable, unenforceable and present an overreach specifically with the definitions of close relationships, low-value gifts and political activities. View the submission
On February 4, 2022, the federal government released a package of draft legislation relating to Budget 2021 tax measures, as well as previously announced tax proposals. Tax measures that are of particular interest to CALU members and their clients include: Interest deductibility rules – Budget 2021 proposed tax measures that are intended to limit the deduction of excessive interest and financing expenses by corporations and certain other business entities. There were concerns that these proposals could extend to limit the interest expense deductions of Canadian-controlled private corporations (CCPC). However, there are two carve-outs in the legislation that will result in ...
In this CALU Special Report, Valuing corporate owned life insurance – A new twist, Kevin Wark, LLB, CLU, TEP, Tax Advisor, CALU takes a look into the valuation of corporate-owned life insurance in determining Ontario estate administration taxes.
MPs in the House of Commons are in a FES-tive mood today – and the cedar garlands adorning the walls of Parliament Hill aren’t the only reason. The federal government’s long-awaited Fall Economic Statement was delivered by Finance Minister and Deputy Prime Minister Chrystia Freeland today.