Since the introduction in 2004 of a 10 - year limitation period for interest and penalty relief under subsection 220 (3.1) of the Income Tax Act, the CRA has administered the provision as if the 10 - year period for applying for relief expires on December 31st of the 10th year following the taxation year assessed (i.e., December 31, 2010
for taxation year 2000).
Section 24 (1) of the IBAA provides: «If a claimant was at any time in the taxation year a registered corporation or an IB specialist, the claimant may file a return
for the taxation year with the commissioner within 18 months after the end of the taxation year or within a later period approved by the commissioner.»
Subsection 247 (3) applies to the full amount of an adjustment
for a taxation year, rather than to any increase in taxable income or tax payable.
The maximum annual contribution limit
for the taxation year MINUS any company sponsored pension plan contributions (defined as PA, or short for pension adjustment on your T4 slip.
An amount allowed under the Income Tax Act to be deducted from the value of certain assets and treated as an expense in computing an individual's or company's income
for a taxation year.
If these changes are to take effect in the 2015 taxation year, a «Ways and Means» motion must be introduced in the House as soon as possible, in order to give the Canada Revenue Agency (CRA) sufficient time to prepare new tax forms
for taxation year 2015.
The Department of Finance attributes part of the higher - than - expected outcome for personal income tax revenues to tax planning by high - income Canadians to recognize income in 2015 in advance of the introduction of the new 33 % tax bracket
for taxation year 2016.
In the latest budget, a decline of $ 1.7 billion is projected, primarily reflecting extraordinary tax payments made in the end - of - year accounting period in 2015 - 16 reflecting tax planning in advance of the introduction of the high - income tax bracket
for taxation year 2016.
In 2015 - 16, there was an exceptionally large end - of - year accrual adjustment, which the Department of Finance attributable to aggressive tax planning by high - income earners in advance of the introduction of a new high - income tax bracket
for taxation year 2016.
The budget eliminates the Work - in - Progress provision for professional accountants, dentists, lawyers, medical doctors, veterinarians and chiropractors which allowed income to be recognized when the work is billed — a tax deferral now gone
for taxation years that begin on or after budget day.
For taxation years ending after March 20, 2013, your other sources of income must be subordinate to farming in order for farming losses to be deductible in full against your income from those other sources.
If a trust owned the principal residence property before 2017, the new rules do not apply in determining whether the property may be designated as a principal residence of the trust
for taxation years that begins before 2017.
The new amendments define two additional tax rates, effective
for taxation years ending after December 31, 2013: first, the income threshold for the highest tax rate (currently 13.16 percent) is reduced from $ 514,090 to $ 220,000.
In 2010, following an audit
for the taxation years 2005 to 2007, the C.R.A. notified the Applicant the transactions as described in the accounting scenario generated $ 2.2 M in additional taxes for the three years in question.
Kelly v. Minister of National Revenue 2013 FCA 171 Indians, Inuit and Métis — Taxation — Exemption — Personalty on reserve The taxpayer, an Indian within the meaning of the Indian Act, appealed from income tax assessments
for taxation years 1994 to 2003 inclusive, on the basis that his business income was «personal property situated on a reserve» within the meaning of s. 87 of the Indian Act and was therefore exempt from tax.
The substance of my prior comment does not change with the exception that the new rules have effect
for taxation years that commence after the budget date (March 22nd), not after 2016.
Not exact matches
Furthermore, many institutional investors close their books at the
year - end, a deadline
for taxation and performance reporting, a time seen leading to dollar selling pressure, analysts said.
The increase in corporate income tax revenues largely reflecting strong gains in the tax settlement period
for those large corporations with a
taxation year ending December 31st.
This decline appears to be attributable to final adjustments with respect to
taxation year 2011
for employment insurance premiums, Canada Pension Plan premiums and tax transfers to the provinces.
Published earlier this
year in the journal Nature Climate Change, it includes sparing healthy food from
taxation, as well as selective compensation
for income losses associated with tax - related price increases.
By removing double
taxation on digital currency, the Australian government is positioning the nation to be a global leader in FinTech
for years to come.
In this 53
year old historical piece, he points out that through history citizens have been led to believe that they should trade their freedom
for security, something that inevitably will always link itself to higher
taxation by the state.
We sold our shares in eBay at close to our target sell price after holding the position
for a little more than one
year, thereby attaining long - term
taxation status.
(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.
The platform planks
for «32 embodied a number of Century concerns: U.S. adherence to the World Court protocol; U.S. entry into the League of Nations, provided that its covenant be amended to eliminate military sanctions; U.S. recognition of the Soviet Union (which was granted a
year later); the safeguarding of the rights of conscientious objectors (including those denied citizenship, such as Canadian - born theologian D. C. Macintosh of Yale Divinity School); the abolition of compulsory military training in state - supported educational institutions other than military and naval academies; emergency measures
for relief and public - works employment; the securing of constitutional rights
for minorities; the reduction of gross inequality of income by steeply progressive rates of
taxation on large incomes; «progressive socialization of the ownership and control of natural resources, public utilities and basic industries»; «the nationalization of our entire banking system»; and so on (June 8, 1932).
The Scottish Government has a duty to control the overall yield of local
taxation, as it is responsible
for balancing the government budget overall, and also
for any controls such as those suggested above to equate the yield of the new taxes in
year 1 with the yield of the old taxes in
year 0;
Mr. Speaker, Total Revenue and Grants
for the 2017 fiscal
year has been conservatively estimated at GH cents 51 billion based on our projection of the level of economic activity in 2018, Government's policy on
taxation and donor grant disbursements.
Dalli was let go to make room
for Douglas Sutherland, who was chief deputy comptroller under Angie Carpenter, but became executive director of
taxation and finance once the treasurer and comptroller's offices merged two
years ago.
The stock market is up in part because of anticipation that President Donald Trump and the Republican Congress will overhaul the nation's
taxation system
for the first time in over 30
years.
The governor and legislature have sought over the past five
years to compensate
for limits on local property
taxation through expansion of state financial aid to schools.
The other party leader Farron can learn from is - wait
for it - Nigel Farage, the man he impersonated to help Nick Clegg prepare
for his televised Euro - joust with the Ukip leader last
year: «I don't know what Ukip's position is on local government reform, or on land value
taxation, [or] on transport, but I've got a pretty clear idea what they think about immigration.
It is clear that altering social pattern is particularly hard, especially in a single four -
year term, yet it may be argued that if a party promises to cut
taxation, it can redeem this promise depending on the realities of the period.But it is quite possible
for politicians to encourage attitudes and expectations which are mutually incompatible.
In 2007, the party abandoned its longstanding pledge to introduce a new 50p tax rate on the highest earners, and the following
year called
for a reduction in the overall burden of
taxation.
Over five
years, the Tory government successfully boxed Labour in on spending and
taxation, driving home the perception that all Labour wanted was to put its hand in your pocket and spend your money on benefits
for others.»
Gordon Brown as chancellor and prime minister has presided over the largest hike in
taxation of any government
for more than 30
years.
As Rockland County Times Publisher Emeritus Armand Miele has been trying to wake Rockland residents and officials up to
for years, the MTA is running an unfair
taxation system that is like «
taxation without representation.»
Heastie, backed by de Blasio and the teachers unions, sought to tie the renewal of the 15 -
year - old program to the extension of local
taxation authority
for upstate municipalities largely controlled by Republicans — a play infuriating to Flanagan.
In other words if you want people to spend 50 billion a
year on increasing efficiency, if your incentive
for this is exclusively green
taxation, you will have to impose green taxes of much more than 50 billion a
year, perhaps 100 billion or 150 billion a
year.
This could possibly be done by allowing local authorities to raise, from local
taxation, an earmarked amount specifically
for early
years.
First, concerns were raised about the omission of recreational program budgets in the equity calculations; lawmakers were also worried that there was no consideration
for districts having to go through «truth in
taxation» hearings with voters who may be overly sensitive to recent property tax increases; finally, policymakers wanted an extended period of time of 1, possibly 2 more
years to allow
for the necessary levies to occur to pay
for such changes.
The General Assembly shall provide by
taxation and otherwise
for a general and uniform system of free public schools, which shall be maintained at least nine months in every
year, and wherein equal opportunities shall be provided
for all students.
Opting
for the latter shift method pushes the list price over the # 40,000 threshold, incurring # 1,240 more in VED
taxation costs over five
years under the new rules.
The new unit emits a more competitive 117g / km of CO2, which means it qualifies
for free road tax in the first
year and attracts a benefit - in - kind
taxation of 17 per cent.
This May, the FEP wrote, «In the U.S., a moratorium on the
taxation of electronic services has contributed immensely to the impressive growth of the sector in recent
years; the EU should follow this example
for professionally published content within its market in order to compete effectively on a global scale.»
Financial Freedom presents Roth Contributions, posted at Retirement Spreadsheet, saying, «The Roth tax optimization puzzle
for asset conversions, as well as
for annual Roth contributions during working
years, is one of the most complex decisions that the ridiculously complex US
taxation and retirement planning system forces upon individuals.»
If you invest in a debt fund
for more than 3
years, Long Term Capital Gains (LTCG)
taxation applies.
Child Tax Credit This tax credit
for parents of kids under 18
years has been replaced with the enhanced UCCB as of the 2015
taxation year.
The individual was an independent financial planner in Canada
for about 15
years (investments, insurance,
taxation - he knows it), but the business has been all but wrapped up, partly due to conscious choice based on tax considerations, where
taxation on the extra income made it not worthwhile.
The change comes into effect
for the 2015
taxation year and subsequent
years.
If you have received the above assessment once, the next time it happens you can get something like this: «Every person who fails to report an amount required to be included in income, and who has failed to report such amount on a return (think T3 slip)
for any of the three preceding
taxation years, is liable to both a federal and a provincial / territorial penalty each equal to 10 % of the amount that must be included in income.