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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.
Those holding stock in the Kraft Foods Group Inc were surprised, to say the least, when on Thursday October 4th the Kraft shares opened at $45.55 then surged to $58.54. The Nasdaq attributed the rapid change to “broker error.” This occurred only days after Kraft Foods and Mondelez International, a former part of Kraft foods began trading as two separate companies.
DISTINGUISHED PRACTICES: Tips for Real Wealth Managers™. A July Tax Court of Canada decision clarified the importance of the location of a business for the purpose of tax exemption.
As part of its Red Tape Reduction efforts, the Canada Revenue Agency (CRA) has created a dedicated team that is charged with cutting red tape for small businesses, thereby enhancing service.As part of its Red Tape Reduction efforts, the Canada Revenue Agency (CRA) has created a dedicated team that is charged with cutting red tape for small businesses, thereby enhancing service.