On November 10, 2009, TEI filed comments in response to the Canada Department of Finance's release of draft legislation, explanatory notes, and a backgrounder concerning several measures aimed at improving and streamlining the application of the goods and services tax (GST) to pension plans and the financial services sector. The Department of Finance proposal includes changes in the following areas: Pension expenses; Input tax credit (ITC) allocation methodology; Deadline for filing annual return for financial institutions; GST/HST Annual Information Schedule (Form GST111); and Imported supplies.
TEI's submission was prepared under the aegis of its Canadian Commodity Tax Committee, whose chair is Diana M. Spagnuolo.
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