It appears the “new” Not-for-Profit Corporations Act, 2010 will not come into force before 2016 according to a post from early June on the Ministry of Government and Consumer Services website.
The T1135, Again
The saga continues: Form T1135 – Reporting for 2014 and later tax years.
Filing nil returns to avoid penalties
Can taxpayers, by filing nil returns, avoid late-filing penalties and begin the beginning of the normal reassessment period? The CRA says ‘no’ in technical 2014-0519701I7. The CRA says that, even if it issues a notice of assessment in response to…
Informant Program
According to the CBC, the CRA’s offshore tax informant program has generated a “flood” of calls from would-be informants. Here is yet another reasons to do a voluntary disclosure sooner than later.
CRA Price Adjustment Clauses Update
The following article appeared in the June, 2014, issue of the Hamilton Law Association HLA Journal.
Lawyers who must draft price adjustment clauses (“PACs”) will want to read Income Tax Folio S4-F3-C1 (the ‘Folio’), which the CRA has issued and updated recently to replace the venerable Interpretation Bulletin IT-169. The following article discusses some of the Folio’s highlights.