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A thorough analysis of today’s financial news—delivered weekly to your inbox or via social media. As part of Knowledge Bureau’s interactive network, the Report covers current issues on the tax and financial services landscape and provides a wide range of professional benefits, including access to peer-to-peer blogs, opinion polls, online lessons, and vital industry information from Canada’s only multi-disciplinary financial educator.
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Distinguished Advisor: Broader interpretation of transfer pricing
A recent Supreme Court of Canada (SCC) decision Canada v. GlaxoSmithKline Inc., 2012 SCC 52, adopts a broad test for transfer pricing, which may provide multinational corporations a new strategy for mitigating taxes, namely, transferring funds to sister companies in lower-tax jurisdictions.
Legislation in both official languages
Pursuant to Section 133 of the Constitution Act 1867, the Parliament of Canada is required to pass all legislation in French and English, with both versions having equal force.
How the CRA is helping small business
The Canada Revenue Agency (CRA) has been charged with reducing red tape and making it easier for small businesses to do business.
Stats Can revises 30 years of data on the income of Canadian Households
Statistics Canada released revised data on the income of Canadian households for 1981 though 2010.
Source deductions
A recent Tax Court of Canada (TCC) decision, in Sutcliffe v The Queen, contains some interesting information regarding that court’s jurisdiction, specifically to its inability to decide whether source deductions have been taken or not.
