Tax Alert – Canada
Tax Alerts cover significant tax news, developments and changes in legislation that affect Canadian businesses.
Finance tables Extractive Sector Transparency Measures Act
No. 57, 30 October 2014
The federal government tabled the Extractive Sector Transparency Measures Act on 23 October 2014 as part of Bill C-43, Economic Action Plan 2014 Act, No. 2. The Act is introduced for the purpose of implementing Canada’s international commitments in the fight against corruption.
Insurance swaps and offshore banking arrangements: Bill C-43 (2014)
No. 56, 28 October 2014
On 23 October 2014, the federal government tabled Bill C-43, which includes certain tax measures announced in the 2014 federal budget and earlier with respect to insurance swaps and offshore banking arrangements.
BC tables LNG income tax legislation
No. 55, 22 October 2014
On 21 October 2014, the BC government tabled draft proposals for the new liquefied natural gas (LNG) income tax legislation, as well as for a related natural gas corporate income tax credit. The proposals include a number of substantial changes to the LNG tax regime described in the 2014 provincial budget.
Finance amends TLRE rules for commercial investment fund industry
No. 54, 21 October 2014
On 20 October 2014, the Department of Finance tabled a notice of ways and means motion that includes relief from the application of the loss restriction event rules for certain trusts in the commercial investment funds industry.
Finance tables NWMM for 2014 budget measures and various technical changes
No. 53, 14 October 2014
On 10 October 2014, the Department of Finance tabled a notice of ways and means motion (NWMM) that includes the draft legislative proposals that were released on 29 August 2014 relating to the 2014 federal budget, as well as a number of technical changes to the Income Tax Act and the Income Tax Regulations.
OECD releases highly anticipated 2014 output of BEPS Action Plan
On 16 September 2014, the Organisation for Economic Co-operation and Development (OECD) released a series of deliverables addressing seven of the focus areas in its Action Plan on Base Erosion and Profit Shifting (BEPS). We will be hosting a series of webcasts on these deliverables. Learn more in our recent Tax Alerts:
- OECD releases report under BEPS Action 6 on preventing treaty abuse
No. 52, 25 September 2014
- OECD releases report under BEPS Action 2 on hybrid mismatch arrangements
No. 51, 25 September 2014
- OECD releases report under BEPS Action 13 on transfer pricing documentation and country-by-country reporting
No. 50, 23 September 2014
- OECD issues updated guidance on transfer pricing aspects of intangibles
No. 49, 22 September 2014
- OECD releases interim report under BEPS Action 5 on countering harmful tax practices
No. 48, 22 September 2014
- OECD issues report on the tax challenges of the digital economy under Action 1
No. 47, 22 September 2014
- OECD releases report under BEPS Action 15 on feasibility of developing multilateral instrument to amend bilateral tax treaties
No. 46, 19 September 2014
- OECD releases highly anticipated 2014 output of BEPS Action Plan
No. 45, 19 September 2014
Finance releases draft financial services tax measures
No. 44, 2 September 2014
On 29 August 2014, the Department of Finance released certain legislative proposals affecting financial services organizations stemming from the February 2014 budget and earlier. Interested parties are invited to provide their comments by 28 September 2014.