Sentences with phrase «for taxation years»

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.»

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).

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.