Minister Morneau finally clarifies income-splitting rules!

The legislative proposals tabled on July 18 are still being discussed. Indeed, the Minister of Finance tabled a new draft of legislative proposals on December 13. That’s why we’re presenting you with the third chapter on this subject, following on from the articles entitled “Tax planning using private corporations” and “Latest changes following the July […]

Gradual elimination of ITR restrictions for large companies.

In these times of gloomy income tax announcements, there’s good news on the horizon for the QST.

Indeed, as announced in the 2015-2016 provincial budget, Revenu Québec will be phasing out restrictions on input tax refunds (“ITRs”) for large businesses. For clarification purposes, a company is considered a large business, in the QST regime, when its total taxable sales made in Canada, as well as those made by companies associated with it, exceed $10 million per fiscal year.