The Future of the Canadian Tax Support Industry in Canada – Interview with Intuit Canada CEO, Jeff Cates

Watch this 16-minute interview with Jeff Cates, CEO of Intuit Canada about the future of the tax support industry in Canada. Will Canadians use accountants to the same extent going forward? How will the role of accountants change? Will the tax support market grow or shrink? What will a successful firm look like 10 years from now?

Early Bird Deadline is this FRIDAY - Tax Update 2017

Protect your clients and yourself; be aware of 2017 planning strategies and pitfalls. Tax Update 2017 – Fresh Ideas and New Snags, is the 33rd annual installment of the most current tax information and Canada Revenue Agency policies.

This fast-paced and highly detailed course offers hundreds of practical insights and suggestions in a simple and straightforward manner. After many years of receiving top ratings, you can rest assured that this session is sure to offer you a strong and effective base for the upcoming season of planning and compliance.

Topics

Updates including (but not limited to): proposed tax changes for private corporations (July 18, 2017 release);  new small business deduction rules;  new real estate and principal residence tax rules; remuneration strategies for owner-managers; tax effective remuneration for employees; trust and estate planning rules; 2017 federal and provincial budget changes; planning in the new United States regime; CRA administrative changes and initiatives; divorce and family changes; buying and selling a business; charities and NPOs; employer/employee issues; United States & international initiatives; partnerships; GST/HST; SR&ED; and various personal tax credits and deductions.

Discover which date and location is right for you!

Capital Dividends - CRA updates guideance and provides comments on capital dividend payments in Folio S3-F2-C1.

On December 16, 2016, CRA released Folio S3-F2-C1, Capital Dividends. It included a number of updates to the previous guidance (IT-66R6, Capital Dividends) and additional information. Some additions and information include:

  • the entire non-taxable portion of a capital gain (e.g. 100% when the inclusion rate is reduced to zero) that results from the making of certain gifts (such as the gifting of certain publicly traded securities to a qualified donee) is added to the capital dividend account (Paragraphs 1.33 and 1.34);
  • when a capital dividend is received by a partnership, the timing on the inclusion of a corporate partner’s CDA will depend on the partnership agreement (Paragraph 1.49); and
  • a description of the administrative policy which may allow a corporation to object to an assessment of Part III Tax in respect of an excessive capital dividend election while, at the same time, electing to treat the excess dividend as a separate taxable dividend (Subsection 184(3)). In these cases, CRA will hold the Subsection 184(3) election in abeyance until the resolution of the objection or subsequent appeal to a court (Paragraph 1.93).

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 427

LIFE IN THE TAX LANE- August 2017 (Episode 27)

Sources

  1. Federal, Provincial and Territorial Finance Ministers Meeting

  2. Proposed Tax Changes for Private Corporations-Source 1 and Source 2 

  3. Third Party Requests for Information

  4. Distributions of Non-Taxable Amounts to a Non-Resident-Source 1 and Source 2

  5. TFSA – Survivor Payments

  6. Managing Affairs Upon Intestate Death-CRA Forms RC549 - RC561

  7. Reconciling Shareholder Draws