US Limited Liability Limited Partnerships (“LLLPs”)
This article addresses the question of characterization of US LLLP, by setting out the principles that it would rely on, to make that characterization.
CRA and Foreign Assets Disclosure
Canadians with income from foreign assets are now obliged to report them in much more detail on Form T1135.
Charity Law Bulletin – Canada
This bulletin highlights some of the topical issues that concern a registered charity.
Charitable Organisation Decision Tree
If your non-profit or voluntary organisation is trying to decide if they should proceed with registration as a registered charity, the Decision Tree, funded by Canada Revenue Agency and produced by the Legal Information Society of Nova Scotia,…
CRA Develops Political Activities Self-Assessment Tool
Canada Revenue Agency (“CRA”) has developed an online self-assessment tool for charities to use to determine if they are carrying on political activities and if those activities are within the limits of the Income Tax Act. The online…
Canadian Tax Planning and “Reportable Transactions”
The Government of Canada passed legislation requiring disclosure of reportable transactions to the Canada Revenue Agency (CRA). The legislation addresses concerns about how aggressive tax avoidance transactions affect the fairness of the income tax system – everyone must…
CRA is looking into Tax Shelters in 2012
The Canada Revenue Agency has issued a News Release stating that they will be putting the assessment of any individual returns on hold that claim a credit by participating in a tax shelter scheme. They warn that starting…
Charities – Deed or Declaration of Trust?
The benefits of a trust, rather than a corporation or society, for a Canadian charity.