TaxMatters@EY - November 2013

Publications and articles

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Tax Alerts — Canada

  • Highlights from the CRA’s 2012-13 APA Program Report
    2013 Issue No. 47
    On 18 September 2013, the Canada Revenue Agency (CRA) released its Advance Pricing Arrangement (APA) Program Report for the fiscal year ending 31 March 2013. The report provides an overview of the operations of the APA program, and finds that APAs completed in 2012-13 were at a historic high.
  • Character conversion transactions and synthetic dispositions
    2013 Issue No. 48
    On 13 September 2013, the Department of Finance released draft legislative proposals that include a measure aimed at ensuring that derivative transactions cannot be used to convert ordinary income into capital gains through so-called “character conversion transactions,” and a measure to ensure that the tax consequences of disposing of property cannot be avoided by entering into a synthetic disposition arrangement.
  • Second budget implementation bill receives first reading
    2013 Issue No. 49
    On 22 October 2013, Bill C-4, Economic Action Plan 2013 Act, No. 2, received first reading in the House of Commons.
  • Canada-Hong Kong tax treaty enters into force
    2013 Issue No. 50
    The agreement between Canada and Hong Kong for the avoidance of double taxation and the prevention of fiscal evasion agreement entered into force on 29 October 2013.

Publications and articles

Executing successful IPOs and exits
Executives from high-growth companies, private equity firms and venture capital funds as well as transaction advisors recently convened at the EY Capital Strategies Conference to share their firsthand experience in deriving value from both IPOs and strategic transactions.

Worldwide cloud computing tax guide
Cloud computing has burst onto the commercial scene, affecting many industries. Generally defined as the hardware and software that supports transactions over a virtual network (i.e., the internet), cloud computing has a borderless quality that creates complexity for taxing jurisdictions.

Websites

Business immigration alerts and updates
For the latest information on Canadian and US business immigration issues from Egan LLP, a business immigration law firm allied with Ernst & Young LLP in Canada, visit EganLLP.com.

Focus on private business
Because we believe in the power of private mid-market companies, we invest in people, knowledge and services to help you address the unique challenges and opportunities you face in the private mid-market space.

Online tax calculators and rates
Frequently referred to by financial planning columnists, this popular feature on ey.com/ca lets you compare the combined federal and provincial 2012 and 2013 personal tax bills in each province and territory. The site also includes an RRSP savings calculator and personal tax rates and credits for all income levels. Our corporate tax-planning tools include federal and provincial tax rates for small-business rate income, manufacturing and processing rate income, general rate income and investment income.

Tax counsel and litigation
For news and thought leadership from Couzin Taylor LLP, a tax law boutique allied with Ernst & Young LLP in Canada, visit CouzinTaylor.com.

CA Store

EY's Guide to Capital Cost Allowance, 5th Edition EY's Guide to Capital Cost Allowance, 5th Edition
Editors: Allan Bonvie, John Chan, Lokesh Chaudhry, Maureen De Lisser

Takes you through the capital cost allowance and eligible capital expenditure rules in Canada with commentary and illustrative examples. Unique CCA lookup tables (by class and by item) are included.
 
EY's Complete Guide to GST/HST, 2013 (21st) Edition EY's Complete Guide to GST/HST, 2013 (21st) Edition
Editors: Jean-Hugues Chabot, Dalton Albrecht, Sania Ilahi, David Douglas Robertson

Canada’s leading guide on GST includes HST commentary and legislation, as well as a GST–QST comparison. Written by EY indirect tax professionals, the guide is consolidated to 15 July 2013. Available September 2013.