Tax thought leadership roundup (Summer 2017)

Keep up with the latest thinking on tax from CPAs in Canada with our roundup of new tax-related alerts, articles, white papers and thought leadership releases.

Budget highlights

Find out how 2017 federal budget measures could affect Canadians and Canadian businesses:

Federal support for innovation (Grant Thornton)

This three-part series examines measures for supporting innovation announced in Budget 2017:

Private company insights (EY)

In Budget 2017, the federal government confirmed its intention to further review the use of tax planning strategies involving private corporations.

Relief for contingency fee arrangements (Collins Barrow)

The CRA recently clarified how contingency fee arrangements would be treated in light of Budget 2017’s measures that require CPAs and some other professionals to move to billed-basis accounting.

Targeted measures for financial services organizations (EY)

Learn about the 2017 federal budget tax measures affecting banks, insurers and asset managers, as well as their clients.

Corporate tax

Claiming SR&ED in the Medical Domain – The Rules of Technical Eligibility (MNP)

What factors determine a technically eligible scientific research and experimental development project in the medical community?

Personal tax

Canada Pension Plan Enhancement – How Will It Affect Me?

The federal government has passed legislation to enhance the Canada Pension Plan. Find out what is changing and how you might be affected.

Navigating Divorce: Financial Planning & Tax Considerations (MNP)

Going through separation or divorce is emotionally difficult, but important factors need to be addressed from a tax and financial perspective such as who gets what property and how to divide financial assets.

Indirect taxes

Ontario imposes new 15 per cent tax on foreign buyers of residential property (PwC)

Learn about the new 15 percent non-resident speculation tax that now applies to foreign purchasers of residential property in the Greater Golden Horseshoe.

U.S. and international tax

Changes to the VDP for Transfer Pricing Issues: The Door is Closing (BDO)

The CRA is proposing changes to its Voluntary Disclosures Program (VDP) as it pertains to transfer pricing. The changes would eliminate a remedy companies rely on to avoid penalties when coming forward with an upward adjustment to income.

FIs – CRA Gives Details on CRS Approach for 2017 (KPMG)

New guidance clarifies the upcoming rules for Canadian financial institutions that must report detailed customer account information under the Common Reporting Standard.

Global Tax Department Benchmarking (KPMG)

A global survey and special Canadian supplement offer snapshots of the structure, governance, priorities and performance measures of tax departments today, along with insights on how leading tax departments expect to transform over the next five years.

The snowbirds sing… and the IRS listens (PwC)

To attract seasonal Canadian sojourners, the United States is considering changing its immigration rules to allow Canadians to spend more time there. But U.S. income tax rules, outlined in this publication, could still apply.

U.S. limited liability partnerships (LLP) and limited liability limited partnerships (LLLP)

Find out about the CRA’s clarification of transitional measures for the treatment of some U.S. LLPs and LLLPs as corporations for Canadian income tax purposes:

U.S. tax reform proposals

The Trump administration is committed to tax reform, and details of expected U.S. tax changes are emerging. Find out what these changes might mean for Canadians and Canadian businesses:

National accounting firms: Tax pages

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