- Posts by Leonard Glass
PartnerLen is a partner in our Vancouver office and is the co-practice group leader of our Tax Law group. Len’s practice focuses on creating tax effective structures for client’s operating Canadian businesses and their succession ...
The federal government has announced they are removing the Goods and Services Tax/Harmonized Sales Tax (GST/HST) on all new qualifying rental housing constructions to help with the rising cost of living. This is effective September 14, 2023, subject to the passage of the related legislation.
The removal will be by way of an enhanced GST/HST Rental Rebate, available on new ...
The 2017 Federal Budget (the “Budget”) was released March 22nd, 2017 (“Budget Day”). Highlights include:
Upcoming Review of Private Corporate Tax Planning
The Budget announced that the federal government will be looking into:
- Income sprinkling using private corporations: The Budget states that this strategy can reduce income taxes by causing income that ...
Business
Corporate Tax Rate
The small business corporate income tax rate will be reduced from 2.5% to 2% effective April 1, 2017. This means that the combined Federal and Provincial tax rate for small business income, up to $500,000 per year, will be 12.5% in British Columbia (subject, of course, to any changes coming in the Federal Budget).
The Government projects this ...
Introduction
In its recent decision in Minister of National Revenue v. BP Canada Energy Company, the Federal Court of Canada considered the Minister’s ability to compel BP to provide its tax accrual working papers pursuant to the Minister’s inspection powers in subsection 231.1(1) of the Income Tax Act. The decision in favour of the Minister signals a ...
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