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Monthly Archives: November 2006
Beneficiaries gone wild!
As tax advisers, we regularly advise our clients to enter into various legal relationships in order to help them reduce the taxes they would otherwise incur. In providing such advice, however, we would do well to remind our clients that … Continue reading
Posted in Cases, Individuals
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Stock dividends
Stock dividends or “dividends satisfied by stock” can be a useful tool for a tax practitioner, but do they create their own tax problems for shareholders of a corporation incorporated under the Business Corporations Act (Ontario) (the “OBCA”)?
Posted in Corporations
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Criminal Charges
It appears that over the last few years the Ontario Ministry of Finance has been getting tough with the directors of corporations who fail to file Ontario corporate tax returns. Failing to file such a return is a criminal offence, … Continue reading
Posted in Miscellaneous
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Learning in the Distinct Society
I returned to the office today after having been away to attend the CICA‘s Advanced Tax Issues for the Owner-Managed Business course in Mont Tremblant, Quebec. The course was intense—there is such a thing as too much discussion about income … Continue reading
Posted in Miscellaneous
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New draft legislation
Usually the Department of Finance waits until closer to Christmas to release draft legislation. Thus Finance wreaks its revenge on tax practitioners by forcing them to read its opaque, sometimes stupefying prose during the Christmas break. Christmas came early this … Continue reading
Posted in Miscellaneous
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Income trust roller coaster
You read it in the paper this morning. Now see the details of the Minister of Finance’s plan for income trusts here and hang on to your hats.
Posted in Miscellaneous
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