Advanced Income Tax Rulings
The federal government has taken steps recently to attract more investment in Canada. That’s sure to create some new tax questions that require Advanced Income Tax Rulings (AITR). A new measure to facilitate a faster response was announced on September 14 and is intended to attract business investment of large amounts. Specifically, for investments of $1 billion or more, the CRA will prioritize advance income tax rulings. The measure took effect the day it was announced. Here’s what you need to know:Weekly Thought Provoker — Financial Services Threats
Join our online discussion: What are the greatest threats to the future of financial services?
People in the News
Phyllis Mikolajek, a business and tax services professional in Winnipeg, had this to say about attending the Distinguished Advisor Conference
Business Community Warns Job Losses, Inflation Would Follow Minimum-Wage Hike
Last month, Knowledge Bureau issued the results of a poll indicating that financial professionals are firmly divided on the prospect of $15-an-hour minimum wage. Now the business community is having a similar debate
Important Deadline for Correcting Errors or Omissions on Tax Returns
Did you know that the CRA’s Voluntary Disclosures Program (VDP) is proposed to change soon, restricting the ability to correct errors and omissions within a 10-year period?
New Phishing Scam Targets Tax Preparers
Tax pros beware — fraudsters have developed a sophisticated new email scam designed to steal your tax software usernames and passwords.
Will Recent and Proposed Tax Reforms Hurt the Canadian Economy?
The federal government’s “hurry up” approach to major tax reforms in Canada needs to slow down to allow for careful analysis of the proposals and changes from all stakeholders,
