Tax thought leadership round-up (Winter 2018)

Keep up with the latest thinking on tax from CPAs in Canada with our round-up of new tax-related alerts, articles, white papers and thought leadership releases contributed by national CPA firms.

Taxation of private corporations

Find out the status and implications of complex federal tax proposals first released on July 18, 2017:

See also CPA Canada’s taxation of private corporations webpage.

Voluntary disclosure

Learn about proposed changes to the Canada Revenue Agency’s Voluntary Disclosure Program:

2017 budgets and updates

Find out how recent budget measures and announcements could affect Canadians and Canadian businesses:

Year-end tax planning

It’s not too late: Five things you can do right now to save on your 2017 taxes (BDO)
Most people aren’t thinking much about filing their personal income taxes yet, but don’t wait until tax filing season. Find out five things you can do to save money on your 2017 taxes.

Corporate tax

Retailers — Managing your tax and reputational risks (KPMG)
As governments around the world introduce new rules to protect their tax revenue base and customers continue to gravitate to online shopping, retailers must adapt quickly and efficiently to meet their ever-changing indirect tax obligations.

The Future Today: Taxing Virtual Currency ( (MNP)
Find out how the Canada Revenue Agency treats transactions using bitcoins and other digital currencies for income tax purposes.

Personal tax

Application of advantage tax rules to investment management fees delayed (EY)
The Canada Revenue Agency has deferred the implementation date for applying the advantage tax rules to investment management fees incurred by registered plans but paid outside of the plan by the annuitant or holder.

Indirect taxes

Brace Yourself: No GST/HST ITCs for orthodontists (BDO)
Orthodontists were dealt a tough blow in a recent court decision that resulted in an Ontario-based orthodontist being denied input tax credits for GST/HST incurred on certain expenses and fixed assets consumed regarding perceived supplies of zero-rated orthodontic appliances.

Canada-EU Comprehensive Economic and Trade Agreement takes effect (EY)
After several delays, Canada and the European Union formally implemented the Comprehensive Economic and Trade Agreement on a provisional basis on September 21, 2017, giving Canadian and European businesses increased access to a market spanning some 535 million people.

Finance releases GST/HST draft legislation (EY)
An extensive package of draft GST/HST legislative proposals released on September 8, 2017 includes several new measures, including a proposal to extend the GST/HST rules for selected listed financial institutions to investment limited partnerships.

Charities and not-for-profit organizations

The ins and outs of the simplified net tax calculation for charities (Collins Barrow)
Charities are restricted in the GST/HST input tax credits they may claim due to the simplified net tax calculation they must use to determine their net tax. But sometimes a charity can elect not to use this method. Find out the conditions for opting out and the benefits and drawbacks of doing so.

U.S. and international tax

Apotex decision: Settling patent infringement cases using transfer pricing tools (BDO)
In a recent case not involving the tax authorities or a dispute over taxes, the use of a transfer pricing methodology and interpretation of intercompany agreements were key to the final resolution.

CRA issues updated waiver form for non-resident employees working in Canada
(EY)
The Canada Revenue Agency issued updated Form R102- R, Regulation 102–R Waiver Application to simplify the application form.

OECD releases first batch of peer review reports on Action 14: Canada highlights (EY)
The Organisation for Economic Co-operation and Development released the first batch of peer review reports – including a report on Canada – relating to the base erosion and profit shifting minimum standards on improving tax dispute resolution mechanisms.

U.S. tax reform issues for Canadian transport companies (BDO)
Canadian transportation companies doing business in the U.S. are able to avoid U.S. federal income tax, but many of them ignore potential pitfalls – state tax and non-compliance – that can arise.

National accounting firms – Tax pages

Tax newsletters, rates and research tools