Sentences with phrase «income tax act for»

This plan offers tax benefits as per Section 80C of the Income Tax Act for the premiums paid and the policy proceeds are also entitled for tax benefits as per Section 10 (10D) of the Income Tax Act, subject to the provisions stated therein.

Tax deductions are provided under section 80C of the Income Tax Act for premiums paid towards ULIPs.

Offers tax benefit under Section 80C and 10 (10D) under the Income Tax Act for premiums paid and for any claim received.

Tax Benefit under Section 80C (Up to Rs. 1.5 Lacs) and 10 (10D) of the Income Tax Act for premiums paid and for any claim received.

Income Tax Form 16 is a certificate issued under section 203 of Income Tax Act for tax deduction at source from salary.

Also in 2015, the SCC issued Guindon v. Canada, which upheld a penalty imposed on Julie Guindon pursuant to s. 163.2 of the Income Tax Act for providing «flawed and misleading» advice to her clients, advice which was «indicative either of complete disregard of the law and whether it was complied with or not or of willful blindness.»

I've helped students with Quicklaw, assisted professors in their search for obscure newspaper articles, and have tracked down various amendments to the Income Tax Act for several very enthusiastic conspiracy theorists.

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 purposes.

EIN is certified by HRSD (formerly Human Resources and Development Canada, HRDC) as an educational institution under the Income Tax Act for the purposes of issuing tuition tax receipts for amounts over $ 100 to students 16 years of age and older.

(9) Nova Scotia provides a corporate tax holiday under s. 42 of their Income Tax Act for the first 3 taxation years of a new small business after incorporation.

In August, the Supreme Court of Canada ruled that taxpayers who devote a «significant emphasis» to farming activity that is subordinate to their primary source of income are no longer limited to the $ 8,750 deduction limit under Section 31 of the Income Tax Act for losses from business ventures such as thoroughbreds.

Not exact matches

At the same time, a recent reform to Canada's Income Income Tax Act has made it as easier for U.S. venture capital firms to invest in Canadian startups.

The Company's effective income tax rate and comparable effective income tax rate (a non-GAAP measure) from continuing operations for the first quarter of 2018 decreased to 29.5 % and 25.6 %, reflecting a lower federal tax rate related to the 2017 Tax Cuts and Jobs Act (Tax Refortax rate and comparable effective income tax rate (a non-GAAP measure) from continuing operations for the first quarter of 2018 decreased to 29.5 % and 25.6 %, reflecting a lower federal tax rate related to the 2017 Tax Cuts and Jobs Act (Tax Refortax rate (a non-GAAP measure) from continuing operations for the first quarter of 2018 decreased to 29.5 % and 25.6 %, reflecting a lower federal tax rate related to the 2017 Tax Cuts and Jobs Act (Tax Refortax rate related to the 2017 Tax Cuts and Jobs Act (Tax ReforTax Cuts and Jobs Act (Tax ReforTax Reform).

Association president Gary Smith, of Brookfield Financial, opened the conference by imploring federal and provincial governments to play more of a role, lauding those provinces like Ontario that have launched venture funds, and taking credit for the repeal of Section 116 of the Income Tax Act in the Harper government's spring budget.

For example, in «A Short History of the Income Tax,» John Steele Gordon points out that the U.S. income tax act of 1913 was only 14 pages long; by 1942, it had blossomed to 208 pages with over three - quarters of them «devoted to closing or defining loopholes» that tax lawyers and accountants were using to «game the system.&Income Tax,» John Steele Gordon points out that the U.S. income tax act of 1913 was only 14 pages long; by 1942, it had blossomed to 208 pages with over three - quarters of them «devoted to closing or defining loopholes» that tax lawyers and accountants were using to «game the system.&raqTax,» John Steele Gordon points out that the U.S. income tax act of 1913 was only 14 pages long; by 1942, it had blossomed to 208 pages with over three - quarters of them «devoted to closing or defining loopholes» that tax lawyers and accountants were using to «game the system.&income tax act of 1913 was only 14 pages long; by 1942, it had blossomed to 208 pages with over three - quarters of them «devoted to closing or defining loopholes» that tax lawyers and accountants were using to «game the system.&raqtax act of 1913 was only 14 pages long; by 1942, it had blossomed to 208 pages with over three - quarters of them «devoted to closing or defining loopholes» that tax lawyers and accountants were using to «game the system.&raqtax lawyers and accountants were using to «game the system.»

The Jobs and Growth Tax Relief Reconciliation Act of 2003 established a maximum tax rate of 15 percent for long - term capital gains and «qualified» dividend incoTax Relief Reconciliation Act of 2003 established a maximum tax rate of 15 percent for long - term capital gains and «qualified» dividend incotax rate of 15 percent for long - term capital gains and «qualified» dividend income.

The Income Tax Act (ITA) has made provision for these since 1957, with support taking the form of tax deductible contributions within specific limits and the non-taxation of investment income while savings are accumulIncome Tax Act (ITA) has made provision for these since 1957, with support taking the form of tax deductible contributions within specific limits and the non-taxation of investment income while savings are accumulatiTax Act (ITA) has made provision for these since 1957, with support taking the form of tax deductible contributions within specific limits and the non-taxation of investment income while savings are accumulatitax deductible contributions within specific limits and the non-taxation of investment income while savings are accumulincome while savings are accumulating.

And using offshore accounts or holding companys aren't particularly effective methods for shielding income for tax purposes (since offshore accounts are subject to a whole whack of anti-avoidance rules and holding companys are typically subject to more or less the same tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax purposes (since offshore accounts are subject to a whole whack of anti-avoidance rules and holding companys are typically subject to more or less the same tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax rate as people in the top marginal tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»tax bracket - the Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»Tax Act has tightened up a lot since the 1960s so there really aren't that many «loopholes»).

Frances, At least in Canada, the ability to arrange for deferred compensation schemes is limited by various provisions of the Tax Act which prevent the deferral of income into future years in most circumstances (there are exceptions, for example, for teachers who take, for example 3 years of salary over 4 years and take a year's sabatical or for various incentive compensation schemes, although I doubt those would work for athletes).

The Rockefeller Institute of Government, which released a new state revenue report on Monday, said that «The Tax Cuts and Jobs Act (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqTax Cuts and Jobs Act (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqAct (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqact fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqtax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.&raqtax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.»

Before the new tax reform law — the Tax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales and property taxtax reform law — the Tax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales and property taxTax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales and property taxtax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales and property taxes.

The Act repeals the «Pease» limitation, whose original intent was to raise tax revenue by increasing the taxable income for high - income earners.

Maybe 15 percent of your income is taken right off the paycheck by the FICA [Federal Insurance Contributions Act] for Social Security and essentially pre-saving for Social Security medical care (which provides the government with enough money to cut taxes on the higher brackets.)

You can deduct an amount for a reserve, contingent account, or a sinking fund as long as the Income Tax Act allows it and the amount is reasonable,» says the Canada Revenue Agency's Business and Professional Income Guide.

If this wasn't enough to get environmentalist in an uproar the government then proposed changes to the income tax act that would require that that charities disclose foreign sources of funds and demonstrate that the organization satisfied the 10 per cent rule for political activities.

In light of these challenges, The Shattered Mirror calls for the modernization of Section 19 of the Income Tax Act, which has existed since 1965 and creates a tax advantage for advertising in Canadian newspapers, magazines and broadcast outlets over foreign onTax Act, which has existed since 1965 and creates a tax advantage for advertising in Canadian newspapers, magazines and broadcast outlets over foreign ontax advantage for advertising in Canadian newspapers, magazines and broadcast outlets over foreign ones.

The New Brunswick Small Business Investor Tax Credit Act (SBITC) provides a 50 % (for investments made after April 1, 2015) non-refundable personal income tax credit of up to $ 125,000 per year (for investments of up to $ 250,000 per individual investor) to eligible individual investors who invest in eligible small businesses in the provinTax Credit Act (SBITC) provides a 50 % (for investments made after April 1, 2015) non-refundable personal income tax credit of up to $ 125,000 per year (for investments of up to $ 250,000 per individual investor) to eligible individual investors who invest in eligible small businesses in the provintax credit of up to $ 125,000 per year (for investments of up to $ 250,000 per individual investor) to eligible individual investors who invest in eligible small businesses in the province.

The Public Policy Forum's report on the future of journalism and democracy was designed to convince the Liberal government to enact a number of changes to help Canada's media industry, including amending the Income Tax Act and the Copyright Act to provide new streams of revenue for the media.

Before the new tax reform law — the Tax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, salestax reform law — the Tax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, salesTax Cuts and Jobs Act (TCJA)-- was finalized, Congress made a slight concession to residents of high - tax states by including a limited deduction for state and local taxes (SALT), which includes state income, salestax states by including a limited deduction for state and local taxes (SALT), which includes state income, sales...

The Omnibus Budget and Reconciliation Act of 1990 (OBRA90): This act increased excise and payroll taxes, added a 31 percent income tax bracket, and introduced temporary high - income phase - outs for personal exemptions and itemized deductioAct of 1990 (OBRA90): This act increased excise and payroll taxes, added a 31 percent income tax bracket, and introduced temporary high - income phase - outs for personal exemptions and itemized deductioact increased excise and payroll taxes, added a 31 percent income tax bracket, and introduced temporary high - income phase - outs for personal exemptions and itemized deductions.

In the early 1970s Senator Russell Long took the ideas of law professor and investment banker Louis O. Kelso and added sections to the Employee Retirement Income Security Act of 1974 that defines ESOPs (Employee Stock Ownership Plans) and establishes the tax - advantaged status for these plans.

«Upon the enactment of the [Tax Cuts and Jobs Act of 2017], we recorded a reduction in our deferred income tax liabilities of approximately $ 35.6 billion for the effect of the aforementioned change in the U.S. statutory income tax raTax Cuts and Jobs Act of 2017], we recorded a reduction in our deferred income tax liabilities of approximately $ 35.6 billion for the effect of the aforementioned change in the U.S. statutory income tax ratax liabilities of approximately $ 35.6 billion for the effect of the aforementioned change in the U.S. statutory income tax ratax rate.

A stiff challenge, put completely out of reach for most Canadians by the federal Income Tax Act, which limits tax - deferred retirement saving to 18 per cent of income or $ 22,970 — whichever, in words the income tax form has made so familiar, isIncome Tax Act, which limits tax - deferred retirement saving to 18 per cent of income or $ 22,970 — whichever, in words the income tax form has made so familiar, is leTax Act, which limits tax - deferred retirement saving to 18 per cent of income or $ 22,970 — whichever, in words the income tax form has made so familiar, is letax - deferred retirement saving to 18 per cent of income or $ 22,970 — whichever, in words the income tax form has made so familiar, isincome or $ 22,970 — whichever, in words the income tax form has made so familiar, isincome tax form has made so familiar, is letax form has made so familiar, is less.

To the extent that a company's accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statementax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statemenTax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements.

The tax act will increase after - tax income for most American households either directly, through lower personal taxes, or indirectly, through investment impacts or higher wages.

Remarks delivered by Brian Kingston, Vice President, International and Fiscal Issues Mr. Chair, committee members, thank you for the invitation to take part in your study on the Minister of Finance's proposed changes to the Income Tax Act respecting the taxation of private corporations.

Mr. Chair, committee members, thank you for the invitation to take part in your study on the Minister of Finance's proposed changes to the Income Tax Act respecting the taxation of private corporations.

In the six months ended March 31, 2018, as a result of the U.S. Tax Cuts and Jobs Act, Post recorded a $ 265.3 million one - time income tax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earninTax Cuts and Jobs Act, Post recorded a $ 265.3 million one - time income tax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnintax net benefit which included (i) a $ 272.4 million benefit related to an estimate of the remeasurement of Post's existing deferred tax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnintax assets and liabilities considering both the expected fiscal year 2018 blended U.S. federal income corporate tax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnintax rate of approximately 24.5 % and a 21 % rate for subsequent fiscal years and (ii) a $ 7.1 million expense related to an estimate of the transition tax on unrepatriated foreign earnintax on unrepatriated foreign earnings.

Under the Act, the net interest deduction is limited to 30 percent of adjusted taxable income, which will generally mean earnings before interest, taxes, depreciation and amortization (EBITDA) for the next four years (2018 — 2021), and earnings before interest and taxes (EBIT) thereafter (2022 and beyond).

Bill S - 31, An Act to implement agreements, conventions and protocols concluded between Canada and Slovenia, Ecuador, Venezuela, Peru, Senegal, the Czech Republic, the Slovak Republic and Germany for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income

Interest deduction limitation: Under the act, the deduction for business interest is limited to the sum of (1) business interest income; (2) 30 % of the taxpayer's adjusted taxable income for the tax year; and (3) the taxpayer's floor plan financing interest for the tax year.

Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.

While workers wages are falling in real terms the tax credit system - a vital lifeline that boosts income for many families - effectively acts as a government subsidy for «low pay» corporations.

The Low - Income Housing Credit Program (LIHC) was established under the Tax Reform Act of 1986 to promote private sector involvement in the retention and production of rental housing that is reserved for low - income houseIncome Housing Credit Program (LIHC) was established under the Tax Reform Act of 1986 to promote private sector involvement in the retention and production of rental housing that is reserved for low - income houseincome households.

But they're only Cuomo's schemes to compensate for local income and property taxes that, according to Cuomo's office, were raised 20 - 25 percent across the state by the act.

«She is encouraged that the Congressional Budget Office says the American Health Care Act will lower premiums by 10 percent, reduce the federal deficit by $ 337 billion, and lower taxes by $ 883 billion, providing significant tax relief for middle - income families and small business owners.

This thing (Income Tax Law) came into effect 1st January and the Bill has been passed since September, it became an Act assented by the President September 1st waiting for it to take effect this year.

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.

Said Heather Briccetti, acting president and CEO of the Business Council of New York, «The Business Council commends Governor Cuomo, Senate Majority Leader Skelos and Speaker Silver for coming to a bipartisan agreement that will encourage job creation and economic development, reduce the tax burden on middle - income New Yorkers and small businesses, and assist those communities devastated by Hurricane Irene and Tropical Storm Lee.

Liu, however, is also employing the term betrayal to characterize Avella's lack of fidelity to the Democratic Party and, therefore, progressive issues such as the Women's Equality Act, a more generous minimum wage, and permanent funding for de Blasio's pre-K initiative in the form of higher income taxes on the wealthiest city residents.