CICA Tax Policy Committee shares views with Finance and CRA

The Tax Policy Committee is actively engaging with Finance Canada and Canada Revenue Agency (CRA) on potential solutions to tax policy and administrative issues. Read about topics discussed.

In our June 2012 edition of Talking Tax, we reported that CICA’s Tax Policy Committee members had met with Department of Finance and CRA officials to share views and potential solutions to tax policy and administrative issues.

Among other things, committee members provided advice on:

  • the case for extending privilege to all qualified Canadian tax professionals
  • ways to improve the tax legislative process, for example, through more broad-based consultations and a more robust executive interchange program with the private sector
  • the importance of preserving Canada’s tax credits for research and development (R&D), and the positive impact of contingency-based fees for R&D consultancy work
  • ways to improve Canada’s system for the taxation of foreign affiliates
  • compliance obstacles arising from the current deadlines for personal, trust and partnership tax information slips
  • tax issues arising on intergenerational transfers of businesses
  • a variety of commodity and other tax issues

In addition to the Tax Policy Committee’s annual in-person meetings with Finance Canada and CRA, committee members and government officials are in regular contact throughout the year to help identify policy concerns and potential solutions.

If you have issues or concerns that you think warrant being brought to Finance Canada’s and/or CRA’s attention, email Gabe Hayos.

This document was originally prepared by a legacy CPA organization.