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Corporate Taxes Canada

Davies Ward Phillips & Vineberg LLP

Doing Business in Québec

Our Doing Business in Québec guide provides an overview of the legal framework governing Canadian business operations in the province of Québec. This guide provides up-to-date information about the following topics: •...more

Bennett Jones LLP

Employee Ownership Trusts—Improved Tax Incentives Announced

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The Canadian Department of Finance introduced draft legislation in the 2023 Canadian Federal Budget (Budget 2023) to create employee ownership trusts (EOTs) to facilitate the transfer of a business to the employees of the...more

Blake, Cassels & Graydon LLP

Propositions législatives du 4 août 2023 : Présentation de certaines mesures fiscales

Le 4 août 2023, le ministère des Finances (le « ministère ») a publié de multiples propositions législatives et notes explicatives connexes (les « propositions du 4 août »). Ces propositions du 4 août comprennent des...more

Blake, Cassels & Graydon LLP

2023 August 4 Draft Legislation: Selected Tax Measures

On August 4, 2023, the Department of Finance (Finance) released a significant package of draft legislative proposals and related explanatory notes (August 4 Proposals). The August 4 Proposals include updated legislative...more

Bennett Jones LLP

Enhanced Reportable Transaction Rules Take Effect

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With the enactment of Bill C-47 on June 22, 2023, Canada's enhanced mandatory disclosure rules are now fully in effect. These rules, which were first announced in the 2021 Canadian federal budget...more

Bennett Jones LLP

Why Municipal Tax Arrears of $20,000 Could Prevent Applications for or Transfers of Well Licences in Alberta

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As discussed in our previous blog post, Unpaid Municipal Taxes Will Impact New AER Licenses and License Transfers, the Alberta Minister of Energy released Ministerial Order 043/2023 (the Order) on March 16, 2023. The Order...more

Bennett Jones LLP

Canada Clarifies and Expands Proposal for Equity Buyback Tax

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In November 2022, we wrote about the federal government's proposal in the 2022 Fall Economic Statement to tax share buybacks by public corporations in our blog, Canada Proposes New Tax On Share Buybacks. At the time, few...more

Bennett Jones LLP

Unpaid Municipal Taxes Will Impact New AER Licences and Licence Transfers

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On March 20, 2023, the Alberta Minister of Energy, Peter Guthrie, released ministerial order 043/2023 (the Order). The Order, authorized pursuant to the Responsible Energy Development Act, requires the Alberta Energy...more

Miller Canfield

Important Tax Changes Coming into Effect in Canada

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The new year has brought with it some important tax changes for businesses and residential property owners in Canada....more

Bennett Jones LLP

Spring Has Sprung in Alberta With New Agri-Processing Tax Credit

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Alberta is launching a new agri-processing tax credit in Spring 2023 to attract new large-scale investment to the sector and expand opportunities for primary producers....more

Bennett Jones LLP

Canadian Investment Tax Credits for Clean Technologies and Clean Hydrogen Announced in 2022 Fall Economic

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Key Highlights - - Proposed 30 percent refundable Clean Technology Investment Tax Credit. - Proposed refundable Clean Hydrogen Investment Tax Credit. - Further details and consultations are forthcoming. -...more

Bennett Jones LLP

Canada Proposes New Tax On Share Buybacks

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The federal government's 2022 Fall Economic Statement (Economic Statement), released on November 3, 2022, introduced a new tax on share buybacks by public corporations in Canada. Under the proposal, which would come into...more

Bennett Jones LLP

New Legislative Changes for Saskatchewan Potash Sector

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Potash is a critical mineral used as a replenishing agricultural fertilizer. As a result, millions of farmers around the world depend on potash. The Canadian province of Saskatchewan is the world's largest potash producer,...more

Dorsey & Whitney LLP

Inflation Reduction Act: New U.S. Excise Tax on Stock Repurchase Transactions Applicable to Certain Canadian Companies

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On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022, HR 5376 (the “Act”), into law. Among other significant changes, the Act includes a new 1% excise tax on stock repurchase transactions by certain...more

Bennett Jones LLP

Canadian Budget Proposes New Investment Tax Credit For Carbon Capture, Utilization and Storage

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The 2022 Canadian Federal Budget, released on April 7, 2022, sets the fundamental groundwork of the Government of Canada's goals for national economic development. Following Canada's announcement of its 2030 Emissions...more

Davies Ward Phillips & Vineberg LLP

Federal Budget 2022: Tax Highlights

On April 7, 2022 (Budget Day), the Honourable Chrystia Freeland, Deputy Prime Minister of Canada and Minister of Finance, delivered the Liberal Party’s federal budget (Budget 2022), the second budget since the start of the...more

Bennett Jones LLP

Canada Introduces "Excessive Interest and Financing Expenses Limitation"

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Multinational corporations, cross-border investments and many other Canadian public and private enterprises, will likely soon face a new and complex interest expense deduction limitation in Canada....more

Bennett Jones LLP

Alberta Proclaims New Legislation to Address Municipal Tax Arrears

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On December 8, 2021, Alberta proclaimed in force Bill 77, the Municipal Government (Restoring Tax Accountability) Amendment Act, 2021 (the Amending Act), which is intended to strengthen municipal budgets following reports by...more

Stikeman Elliott LLP

Raising New Arguments and Issues in Tax Litigation

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Due to the complexity of Canadian tax law, it is not uncommon for taxpayers and the minister of national revenue to refine their respective positions and identify new arguments and issues in the course of the tax dispute...more

Stikeman Elliott LLP

GST/HST Elections: Why Being Late Is Not Always Fashionable (Cont’d)

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On December 6, 2021, the Federal Court of Appeal (“FCA”) affirmed the Federal Court’s decision in Denso Manufacturing Canada Inc. v. Canada (National Revenue), which had dismissed the taxpayers’ application for judicial...more

Dorsey & Whitney LLP

Share Buyback Transactions: U.S. Tax Consequences may differ for each U.S. Shareholder

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On Thursday, November 4, 2021, the Office of the Superintendent of Financial Institutions announced that, subject to approval by the superintendent, Canadian banks and other financial institutions may begin repurchasing their...more

Bennett Jones LLP

The Digital Services Tax: Canada Takes Aim at Tech Giants

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In the recently released Budget 2021, Canada's federal government announced its plan to continue with the development of a Digital Services Tax (DST) to be imposed on certain large taxpayers. The DST is proposed to apply at a...more

Blake, Cassels & Graydon LLP

Budget fédéral 2021 – Présentation de certaines mesures fiscales

Plus de deux ans après le dernier budget fédéral, la ministre des Finances du Canada a présenté le budget fédéral de 2021 (le « Budget 2021 »), le 19 avril 2021 (le « jour de dépôt du budget »). Certains commentateurs ont...more

Bennett Jones LLP

Canadian Budget Proposes New Cross-border Interest Deductibility Limit

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The 2021 Canadian Federal Budget, released on April 19, 2021, proposes new rules that would fundamentally alter the interest deductibility landscape for Canadian businesses. The thrust of the new rules (referred to herein as...more

Blake, Cassels & Graydon LLP

2021 Federal Budget – Selected Tax Measures

More than two years after the last federal budget, Canada’s Finance Minister presented the 2021 budget (Budget 2021) on April 19, 2021 (Budget Day). Some commentators speculated that Budget 2021 might include increases in the...more

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