TEI’s Canadian Income and Commodity Tax Committees Seek Member Input for 2021 Liaison Meetings
CRA Responds to TEI's 2023 Liaison Meeting Income Tax Questions
The Canada Revenue Agency ("CRA") has submitted its written responses to TEI's December 2023 CRA-TEI liaison meeting questions regarding income taxes.
Canadian Bare Trust Reporting - New TEI Comments
On September 11, 2024, TEI submitted comments to the Canadian Department of Finance regarding proposed amendments to the bare trust reporting rules under section 150 of the Income Tax Act. TEI's comments focused on the compliance burden the rules impose on corporate taxpayers and made several recommendations to narrow the scope of the rules. TEI's comments were prepared under the aegis of its Canadian Income Tax Committee, whose Chair is Sandy Shanks. Benjamin R. Shreck, TEI Tax Counsel, coordinated the preparation of TEI's comments.
Canadian Budget 2024 Expanded CRA Audit Powers - TEI Comments
On May 29th, 2024, TEI filed comments with Canadian Minister of Finance Chrystia Freeland regarding Budget 2024's proposed expanded Canada Revenue Agency audit powers. TEI's comments focused on the substantial negative impact the proposals would have on taxpayers generally and taxpayer rights specifically. TEI's letter included several recommendations on how the expanded powers proposals could be improved and lessen their impact on Canadian taxpayers. TEI's comments were prepared under the aegis of its Canadian Income Tax Committee, whose Chair is Steve Saunders of Atco. Benjamin R.
CRA Responds to TEI's Questions from December 2022 Liaison Meetings
The Canada Revenue Agency ("CRA") has submitted its written responses to TEI's December 6, 2022, CRA-TEI liaison meeting questions.
CRA Responds to TEI's Questions from December 2021 Liaison Meetings
The Canada Revenue Agency ("CRA") has submitted its written responses to TEI's December 7, 2021, CRA-TEI liaison meeting questions.
CRA Responds to TEI's Questions from December 2020 Liaison Meetings
The Canada Revenue Agency ("CRA") has submitted its written responses to TEI's December 8, 2020, CRA-TEI liaison meeting questions.
Canadian Bare Trust Reporting - TEI Comments
On September 27th, 2023, TEI submitted comments to the Canada Revenue Agency regarding new rules for reporting "bare trusts arrangements." TEI's comments focused on the compliance burden the new rules would impose on corporations and other businesses, which in most cases would be duplicative of other reporting requirements already imposed on such entities, among other things. TEI's comments were prepared by its Canadian Income Tax Committee, whose Chair is Steve Saunders of Atco. Benjamin R. Shreck, TEI Tax Counsel, coordinated the preparation of TEI's comments.
Canadian EIFEL Rules - TEI Comments
On September 13, 2023, Tax Executives Institute, Inc. ("TEI") submitted comments to the Canadian Department of Finance regarding proposed legislation that would implement an excessive interest and financing expenses limitation ("EIFEL"). TEI's comments addressed the proposed implementation date of the EIFEL rules, the need to except existing debt obligations from the rules for a period of time, and issues surrounding the group ratio election, among other things. TEI's comments were prepared under the aegis of its Canadian Income Tax Committee. Benjamin R.