Watch Ian Pryor of Pryor Tax Law discuss client questions regarding emigration in the context of the recently proposed private business tax changes.

Watch Ian Pryor of Pryor Tax Law discuss client questions regarding emigration in the context of the recently proposed private business tax changes. 

Recorded November 17, 2017.

This video is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2017, All Rights Reserved.

 

Watch Shelley Kamin, tax lawyer, discuss possible recourse when a professional determines that an error has been made.

Watch Shelley Kamin of Shelley J. Kamin Barrister, Solicitor, Notary Public discuss possible recourse when a professional determines that an error has been made.

Here is the court case that is discussed:  https://www.canlii.org/en/ca/tcc/doc/2012/2012tcc310/2012tcc310.html

This video is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2018, All Rights Reserved.

Returning a gifted property to the donor could result in the revocation of an organization's charitable status.

In a March 31, 2017 Technical Interpretation (2016-0630351E5, Danilchenko, Elaine), CRA commented on the tax consequences of a charity returning a donated property to the donor. 

Donor – Where the property is returned to the donor, the taxpayer is deemed not to have disposed of the property nor to have made the gift. As such, the portion of the original charitable donation tax credit or deduction related to the property may be disallowed.

Donee – Before returning a gifted property, the charity should review other provincial and federal legislation as it might affect their ability to legally return donated property. CRA also noted that returning a property could be regarded as making a gift to a non-qualified donee or providing an undue benefit which could result in revocation of charitable status.

A qualified donee that issued an official donation receipt and later returns donated property must file an information return with CRA if the fair market value of the property is greater than $50 when it is returned, and the property is returned after March 21, 2011.

For further information see Video Tax News Monthly Tax Update Newsletter, Issue No. 431

 

Watch Joseph Devaney CPA,CA and Hugh Neilson CPA, CA, TEP recap Federal Budget 2018.

Watch Joseph Devaney CPA,CA and Hugh Neilson CPA, CA, TEP recap Federal Budget 2018.

This video is for general information purposes only and deals with dynamic, time-sensitive and complex matters that may not apply to particular facts and circumstances. The information provided should not be relied upon as a substitute for specialized professional advice in connection with any particular matter. For more information visit videotax.com/disclaimer. ©Video Tax News Inc. 2018, All Rights Reserved.