Sentences with phrase «income tax act does»

Disputes over support obligations require both parties to comply with their disclosure obligations, since both the Family Law Act and the Federal Child Support Guidelines both require the court to make determinations about a person's income based on their tax information, but the Income Tax Act does not permit a court to obtain that information directly from Canada Revenue.

For example, Canada's Income Tax Act does not allow tax deferral in deferred annuities.

The authors of the Income Tax Act don't give a damn, though.

In a recent case, Heather Sinclair - McDonald, Human Being, asserted that she had waived her rights as a person under the law and therefore the Income Tax Act did not apply to her.

Not exact matches

Also, the Tax Cuts and Jobs Act does away with personal and dependent exemptions, and broadens the applicability of the child tax credit to include higher - income householTax Cuts and Jobs Act does away with personal and dependent exemptions, and broadens the applicability of the child tax credit to include higher - income householtax credit to include higher - income households.

This discussion also does not address any tax consequences arising under the unearned Medicare contribution tax pursuant to the Health Care and Education Reconciliation Act of 2010, nor does it address any tax considerations under state, local or foreign laws or U.S. federal laws other than those pertaining to the U.S. federal income tax.

But the governor — who teasingly sidestepped chants that he run for president — did not mention President Donald Trump's name, choosing instead to lambaste Republicans in Congress for efforts to repeal and replace the Affordable Care Act and end state and local deductions on the federal income tax.

«Bawumia says NDC ministers don't read, he should rather do so by updating himself on the income tax act of 2015,» he emphasized.

The state action would do nothing about changing the provision in the federal tax act that would severely restrict the federal deductibility of state and local property and income taxes.

An enterprise is any activity or series of activities done, as is relevant, in the form of an adventure or concern in the nature of trade — that is a commercial activity that doesn't amount to a business — or any activity or series of activities done by a charitable institution or entity covered by Subdivision 30B of the Commonwealth Income Tax Assessment Act 1997 — such an entity is one for which donations are tax deductible to the donTax Assessment Act 1997 — such an entity is one for which donations are tax deductible to the dontax deductible to the donor.

The Act (which does not include the massive Philadelphia school system) allows districts to levy an income tax to offset cuts in property taxes.

«The government doesn't like the fact that these policies — which are completely legally permissible under the current Income Tax Act — get very good tax results, so they're trying to shut the door,» Carson saTax Act — get very good tax results, so they're trying to shut the door,» Carson satax results, so they're trying to shut the door,» Carson said.

While the Income Tax Act mentions that the period of holding determines the amount of tax payable, it does not clearly specify from when the period of holding actually starTax Act mentions that the period of holding determines the amount of tax payable, it does not clearly specify from when the period of holding actually startax payable, it does not clearly specify from when the period of holding actually starts.

So, the Bankruptcy and Insolvency Act does include income tax debts or tax related debts, because it's Federal law.

It does include W - 2 importing, Earned Income Tax Credit support, help with Affordable Care Act forms, credit and deduction checks, access to forums to ask questions, and the SmartLook chat feature, which you can use to discuss your return with an expert.

«Essentially, McGuinty is telling high - income earners that they are not wanted in Ontario,» Thomas said adding that both the Liberals and NDP have violated the Taxpayer Protection Act since they did not file the tax - raising plan with the Chief Electoral Officer.

I used my «Income Tax Refund» to get my 1 month of expenses together... so I have in - creased the value of my Income Tax Refund to about 1 and 1/2 times the amount that I received from the Federal Government and my State... Not a bad deal... getting to use my Income Tax Refund and making it work for me instead of me just going out and acting careless... I also use any over time that I might get towards my bills... ie; «Snow - Flaking»... sure does feel good... I am tak - ing back «My» money and learn how to be a good steward of it... I have learn of «My» problem with «My» income... ie; I had a «Love Hate» relationship with my inIncome Tax Refund» to get my 1 month of expenses together... so I have in - creased the value of my Income Tax Refund to about 1 and 1/2 times the amount that I received from the Federal Government and my State... Not a bad deal... getting to use my Income Tax Refund and making it work for me instead of me just going out and acting careless... I also use any over time that I might get towards my bills... ie; «Snow - Flaking»... sure does feel good... I am tak - ing back «My» money and learn how to be a good steward of it... I have learn of «My» problem with «My» income... ie; I had a «Love Hate» relationship with my inIncome Tax Refund to about 1 and 1/2 times the amount that I received from the Federal Government and my State... Not a bad deal... getting to use my Income Tax Refund and making it work for me instead of me just going out and acting careless... I also use any over time that I might get towards my bills... ie; «Snow - Flaking»... sure does feel good... I am tak - ing back «My» money and learn how to be a good steward of it... I have learn of «My» problem with «My» income... ie; I had a «Love Hate» relationship with my inIncome Tax Refund and making it work for me instead of me just going out and acting careless... I also use any over time that I might get towards my bills... ie; «Snow - Flaking»... sure does feel good... I am tak - ing back «My» money and learn how to be a good steward of it... I have learn of «My» problem with «My» income... ie; I had a «Love Hate» relationship with my inincome... ie; I had a «Love Hate» relationship with my incomeincome!!

On July 31, 2015 the Supreme Court of Canada decided that proceedings under Canada's Income Tax Act (ITA) are administrative, not criminal, and a penalty imposed under it is not a «true penal consequence» — and the person on whom such a penalty is imposed doesn't get the protection of Canadian Charter of Rights and Freedoms» (section 11 (d)-RRB- guarantees of the presumption of innocence, proof of guilt beyond a reasonable doubt, and right to a fair and public hearing.

Please remember that the LAWPRO Policy does not cover fines or penalties, except to reimburse, after final resolution, certain expenses in the successful defence of certain prescribed penalties under the Income Tax Act and Excise Tax Act.

The legislature has the wherewithal to do this as they do on an annual basis with the Income Tax Act.

(2) Subsection (1) does not apply in respect of any benefit provided under a registered pension plan within the meaning of subsection 248 (1) of the Income Tax Act (Canada).

The Canadian Income Tax Act, the Quebec Taxation Act, an Act respecting the ministère du Revenu and other tax acts provide sentences and fines for those who infringe on their provisioTax Act, the Quebec Taxation Act, an Act respecting the ministère du Revenu and other tax acts provide sentences and fines for those who infringe on their provisiotax acts provide sentences and fines for those who infringe on their provisions.

In that proceeding a DMCT partner gave evidence that the butterfly transaction did not comply with the relevant provisions of the Income Tax Act, and therefore were contrary to Prinova's intentions.

(3) Failure to comply with subsection (2) does not relieve the insurer from any time limit established by this Regulation for the payment of the benefit, but the insurer shall determine the amount of the benefit on the basis of its best estimate of the income tax payable by the person under the Income Tax Act (Canada) and the Income Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is compliedincome tax payable by the person under the Income Tax Act (Canada) and the Income Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is complied witax payable by the person under the Income Tax Act (Canada) and the Income Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is compliedIncome Tax Act (Canada) and the Income Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is complied wiTax Act (Canada) and the Income Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is compliedIncome Tax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is complied wiTax Act (Ontario), subject to later adjustment of the amount of the benefit when subsection (2) is complied with.

He found that these facts did not warrant undermining the reliability of s. 169 (3) of the Income Tax Act (Canada), which allows the CRA to issue reassessments to dispose of an appeal with the written consent of a taxpayer and is consistently, frequently and reliably used by parties to arrive at terms of settlement between themselves and to conclude appeals with finality.

The Queen (2016 TCC 204), the Tax Court of Canada held that the General Anti-Avoidance Rule (the «GAAR») in section 245 of the Income Tax Act (Canada)(the «Act») did not apply to a series of transactions pursuant to which real properties were packaged into limited partnerships, «bumped» and sold to tax - exempt entities in the Ontario Municipal Employees Retirement System («OMERS») groTax Court of Canada held that the General Anti-Avoidance Rule (the «GAAR») in section 245 of the Income Tax Act (Canada)(the «Act») did not apply to a series of transactions pursuant to which real properties were packaged into limited partnerships, «bumped» and sold to tax - exempt entities in the Ontario Municipal Employees Retirement System («OMERS») groTax Act (Canada)(the «Act») did not apply to a series of transactions pursuant to which real properties were packaged into limited partnerships, «bumped» and sold to tax - exempt entities in the Ontario Municipal Employees Retirement System («OMERS») grotax - exempt entities in the Ontario Municipal Employees Retirement System («OMERS») group.

In Canada (Attorney General) v. Chambre des notaires du Québec, the CRA issued to various Quebec notaries (who give legal advice) «requirements» under section 231.2 of the federal Income Tax Act for the purpose of obtaining information and or documents pertaining to their clients for CRA's tax collection or audit purposTax Act for the purpose of obtaining information and or documents pertaining to their clients for CRA's tax collection or audit purpostax collection or audit purposes.

Here is what you need to do: designate the family home as your principal residence under the Income Tax Act.

A requirement under the federal Income Tax Act constitutes a seizure within the meaning of s. 8 of the Charter; the seizures made in this case are unreasonable and are contrary to that section, because the requirement scheme and the exception for accounting records do not provide adequate protection for the professional secrecy of notaries and lawyers.

Where the parties to a transaction or series of transactions do not deal with each other on arm's length terms or prices, the tax consequences of that transaction may be adjusted by the Canada Revenue Agency (CRA) in accordance with special provisions of the Income Tax Act (Canada), specifically the transfer pricing rules found in section 2tax consequences of that transaction may be adjusted by the Canada Revenue Agency (CRA) in accordance with special provisions of the Income Tax Act (Canada), specifically the transfer pricing rules found in section 2Tax Act (Canada), specifically the transfer pricing rules found in section 247.

The use of a structure headed by a trust does not avoid income tax on the individual and any challenge by HM Revenue & Customs (HMRC) is likely to include consideration of the settlements legislation in the Income Corporation and Taxes Act 1988, s 660A and anti-avoidance provisions in ss 739 &mdashincome tax on the individual and any challenge by HM Revenue & Customs (HMRC) is likely to include consideration of the settlements legislation in the Income Corporation and Taxes Act 1988, s 660A and anti-avoidance provisions in ss 739 &mdashIncome Corporation and Taxes Act 1988, s 660A and anti-avoidance provisions in ss 739 — 746.

As per section 192 of the Income Tax Act, the employer will withhold taxes if the employees do not come within the taxable bracket.

Additionally not only do cancer insurance plans come with a more reasonable price tag than generic critical illness policies, policy holders also qualify for tax benefits as per section 80D of the Income Tax Act of 1961 which makes the maintenance and payment of premiums easier for policy holders and their familitax benefits as per section 80D of the Income Tax Act of 1961 which makes the maintenance and payment of premiums easier for policy holders and their familiTax Act of 1961 which makes the maintenance and payment of premiums easier for policy holders and their families.

Although health insurance purchase does lower tax liabilities (Health insurance premiums are exempt under Section 80D of the Income Tax Act), the main objective of getting health insurance should be to cover health and be prepared for medical exigencitax liabilities (Health insurance premiums are exempt under Section 80D of the Income Tax Act), the main objective of getting health insurance should be to cover health and be prepared for medical exigenciTax Act), the main objective of getting health insurance should be to cover health and be prepared for medical exigencies.

Those who do not pay their advance tax will have to pay an interest under sections 23 4C and 23 4B of the Income Tax Act of 19tax will have to pay an interest under sections 23 4C and 23 4B of the Income Tax Act of 19Tax Act of 1961.

You can do so according to Section 80CCC, which is a sub-section of Section 80C of the Income Tax Act.

Under section 10 (10D) of Income Tax Act, 1961 maturity benefits are tax free in the hands of policyholders if, at any point of time during the policy term, premiums paid in any year do not exceed 20 % of the basic Sum AssurTax Act, 1961 maturity benefits are tax free in the hands of policyholders if, at any point of time during the policy term, premiums paid in any year do not exceed 20 % of the basic Sum Assurtax free in the hands of policyholders if, at any point of time during the policy term, premiums paid in any year do not exceed 20 % of the basic Sum Assured.

If the premium paid does not meet the above criterion (Life Insurance Premium < = 10 % of Sum Assured), the maturity proceeds are not exempt from tax as per Section 10 (10D) of the Income Tax Atax as per Section 10 (10D) of the Income Tax ATax Act.

However, we're hopeful that the act will be extended before it expires on December 31 so sellers don't have to pay taxes on forgiven mortgage debt, which would be unfairly treated as income for owners who are selling under duress,» Thomas said.

This down - to - the - wire extension of the Mortgage Debt Forgiveness Act may be seen as very frustrating and depressing to those home owners who look back to 2014 and think, «I would have done a short sale if I had known I would not have faced that added income tax.»

We may be required to collect your social insurance number if the federal government obligates us to do so pursuant to the Income Tax Act.