June 2017 Executive TaxBriefs - Links Edition

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A. Tax Legislation

1. Budget Dates 2017

Federal - March 22, 2017Alberta - March 16, 2017British Columbia - February 21, 2017Manitoba - April 11, 2017New Brunswick - February 7, 2017  Newfoundland &...

2. Proposed Federal Tax Legislation - Including Budgets

The Department of Finance Website links all pending/draft tax legislation on its website, including the recent Federal Budget introduced by Notice of Ways and Means Motion on the same day as the Fe...

3. Specified Cooperative Income - Specified Corporate Income Fix

4. Status of Tax Treaty Negotiations

For the Status of International Tax Treaty Negotiations on the Department of Finance website, scroll down past the yearly Notices to see the: In Force; Signed but Not Yet In Force and Und...

5. Personal and Corporate Tax Rates

NOTE - KPMG's new Digital Tax Facts - the easiest to use in the business   CRA - Individual Tax Rates, Corporate Tax Rates BDO - Personal Tax Rates 2017, C...

6. 2017 Federal Budget Commentaries

Aird & Berlis Stikeman Elliot – GST/HST Blake Cassels & Graydon Moodys Gartner McCarthy Tetreault BDO KPMG  Deloitte PWC

7. 2017 Provincial Territorial Budgets - Deloitte

B. CRA's Interpretations

8. CRA Publications

CRA publishes a wide variety of technical information on the application of the Income Tax Act (Canada) referred to in Executive Tax Briefs as the “Tax Act”.  Below is a list of CR...

9. CRA Prescribed Interest Rates and Exchange Rates

CRA prescribed nterest rates can be found at this prescribed interest rates link. For exchange rates see: CRA Webpage Bank of Canada

10. GST/HST/PST Links

Executive TaxBriefs is dedicated to providing the most current monthly updates on income tax matters affecting Owner-managers.  However, for your convenience this news item contains links to i...

11. CRA confirms that previously having incurred trivial ECE may generate better ECP transitional re

CRA confirms that previously having incurred trivial ECE may generate better ECP transitional results T.I. 2016-0680141E5

12. CRA indicates that the GST gross negligence penalty can be levied on amounts that are not attrib

CRA indicates that the GST gross negligence penalty can be levied on amounts that are not attributable to gross negligence 31 October 2016 Interpretation 164696

13. CRA Advises no T4A for rent

No T4A for rent  T.I. 2016-0675221E5 

14. CRA maintains its position of no foreign tax credit for U.S. taxes paid by a Canadian member on

CRA maintains its position of no foreign tax credit for U.S. taxes paid by a Canadian member on undistributed LLC income - post Anson T.I. 2015-0601781E5

15. Taxation of Airline Passes for Employees

Taxation of Airline Passes for Employees T.I. 2016-0662341E5

16. Specified Corporate Income Trap Examples

CRA provides illustration of the SBD-denial rule in s. 125(1)(a)(i)(B) T.I. 2016-0679721E5

17. CRA holds that appraisal increment increased a corporation’s retained earnings for Part I.3 purp

CRA holds that appraisal increment increased a corporation’s retained earnings for Part I.3 purposes  T.I. 2016-0663781E5

18. CRA checklist for determining whether LLLP legislation provides for a corporation

CRA checklist for determining whether LLLP legislation provides for a corporation T.I. 2015-0587691I7

19. CRA will exclude contingent-fee WIP from professionals’ post-Budget income

CRA will exclude contingent-fee WIP from professionals’ post-Budget income CRA Billed Basis Accounting - Budget 2017

C. Tax Court Cases

20. TCC Holds that Agreements Reached Under the Mutual Agreement Procedure are Binding on the CRA

TCC Holds that Agreements Reached Under the Mutual Agreement Procedure are Binding on the CRA - Sifto Canada 2017 TCC 37

21. FCA confirms a finding of gross negligence for failure of an executive to review a tax return wi

FCA confirms a finding of gross negligence for failure of an executive to review a tax return with an unexpectedly low amount payable - Melman Case

22. TCC finds that structuring to deduct most of the cost of land (or a ground leasehold interest th

TCC finds that structuring to deduct most of the cost of land (or a ground leasehold interest therein) was unsuccessful  - Armour Group Case

23. TCC indicates that a defence under s. 163.2(6) of “good faith” reliance on information is unavai

TCC indicates that a defence under s. 163.2(6) of “good faith” reliance on information is unavailable where the reliance was unreasonable  - Ploughman  2017 TCC 64 

24. TCC finds that a taxpayer is not bound by the statement of boot set out in its s. 97(2) election

TCC finds that a taxpayer is not bound by the statement of boot set out in its s. 97(2) election form - R&S Industries 2017 TCC 75

25. QCA finds that a promoter could be convicted of evading taxes of others - Gagné

QCA finds that a promoter could be convicted of evading taxes of others  - Gagné 2017 QCCA 788

26. FCA Holds that Limited partnership at-risk rules do not apply to partnerships as members - Green

FCA Holds that Limited partnership at-risk rules do not apply to partnerships as members - Green 2017 FCA 107

27. Crown must produce all documents “considered by officials involved in or consulted during” a GAA

Crown must produce all documents “considered by officials involved in or consulted during” a GAAR-related audit per TCC - MP Western Properties 2017 TCC 82

D. Practitioners' Forum

28. Finance Provides Tax Relief to Farmers and Fishers from new Specified Corporate Income Rules

Finance Provides Tax Relief to Farmers and Fishers from new Specified Corporate Income Rules Watch out for this potential application of Specified Corporate Income Rules in small town dealings Ma...

29. Doing business in Canada — a checklist

30. Americas deadline update for early CRS Adoption of Tax Information Exchange

31. An international guide to employment law across 28 countries - Canada

32. CRA Announces it will not Appeal FCA BP Canada Decision on Working Papers

CRA Announces it will not Appeal BP Canada Decision of FCA on Working Papers See Item 24 in May 2017 ETB See also note from Greg DelBiggio of Thorsteinssons

33. Estate Planning and Shareholders’ Agreements

Estate Planning and Shareholders’ Agreements

34. The Pitfalls of Disability Planning

The Pitfalls of Disability Planning

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