Our Tax Memo Publications

Year-End Tax Planner: 2009 — for Individuals and Owner-Managed Businesses
This Year-End Tax Planner is designed primarily for individuals who have accumulated some wealth or who own their own businesses (large or small). It is current to October 29, 2009

Tax Memo: Revised Quebec Aggressive Tax Planning Proposals
As of October 15, 2009, new measures released by the ministère des Finances will affect entities that are taxable in Quebec. This Tax Memo summarizes the disclosure requirements.

Tax Memo - Professional Corporations – An Attractive Option
This PwC Tax Memo summarizes key issues professionals face when considering incorporation.

Tax Memo: HST Transitional Rules for Ontario and British Columbia Released
Read our Tax Memo to learn how the transitional rules will affect the application of the HST on the sale of goods, services and other areas in Ontario and BC.

Tax Memo - 1% Taxable Benefit Rate: Action Required Before January 1, 2010
The federal interest rate for taxable benefits is 1% until December 31, 2009. Read this PwC Canada Tax Memo to learn different ways to lock in this rate.

Tax Memo - Customs Update: Unilateral Duty Reductions and Audit Targets
The Canadian government has announced its intention to unilaterally remove the customs duty on a wide range of imported products.

Tax Memo: GST Rebate for Registered Pension Plan Trusts
The Department of Finance’s new GST rebate for pension entities includes changes significantly different from 2007 proposal. Read this PwC Tax Memo to learn more.

Tax Memo: GST and the Financial Services Sector – Updated Draft Legislation Released
Jim Flaherty released updated draft legislation on proposed changes to application of the GST to financial institutions. PwC discusses the draft’s features and differences from previous proposals.

Canada Signs its First Tax Information Exchange Agreement (TIEA)
In August 2009, Canada signed a Tax Information Exchange Agreement (TIEA) with the Kingdom of the Netherlands, the first TIEA signed by Canada. Get PwC’s analysis of the agreement.

Tax Memo: British Columbia Sales Tax Harmonization
BC's minister of finance announced the province will harmonize its sales tax system on July 1, 2010. This PwC Tax Memo analyzes the impact of the announcement on your business.

Tax Memo: Not Just Another Accounting Exercise: Managing Change for the Tax Function
While IFRS gives companies with a chance to improve their tax functions, there are tax-related challenges they must consider. This Tax Memo offers ideas within PwC’s Tax Function Effectiveness framework.

Tax Memo: Application of Ontario's Single Sales Tax to New Homes
A new Ontario bulletin confirms province's 2009 budget announcement concerning a new single sales tax launch on July 1, 2010. The bulletin introduces rebates, transitional rules and disclosure requirements.

Tax Memo: Tax Incentives for Digital Media in Ontario
This PwC Tax Memo provides a brief overview of OIDMTC and chronicles the tax credit program’s key changes.

Tax Memo: 1% Taxable Benefit Rate: Action Required Before July 1, 2009
Read this Tax Memo to learn how the 1% Taxable Benefit Rate can help you.

Tax Memo: Income Trust Conversion Rules Enacted
This PwC Tax Memo describes key changes to the tax rules related to converting an income fund into a taxable Canadian corporation.

Tax Memo: Ontario Sales Tax Harmonization
Read PwC's industry-specific Tax Memos to learn the impact of the HST on your Ontario-based business and how to plan for transition.

Tax Memo: Ontario Budget 2009
This Tax Memo features Ontario's 2009 budget, presented by the province's Minister of Finance, Dwight Duncan, on March 26, 2009.

Tax Memo: 2009 Quebec Budget
The recession has now hit the Québec economy. Read PwC's analysis of the province's 2009–10 budget.

Tax Memo: 2009 Saskatchewan Budget Highlights
This PwC Tax Memo discusses the changes announced in the Saskatchewan 2009 budget on Wednesday March 19, 2009.

Tax Memo: The FCA Decision in Prévost Car Inc.
This Tax Memo discusses the FCA Decision in Prévost Car Inc.

Tax Memo: 2009 British Columbia Budget: Tax Highlights
This PwC Tax Memo shares our analysis of the 2009 B.C. budget.

Tax Memo: Quebec Proposals on Aggressive Tax Planning
This Tax Memo summarizes Quebec’s Ministry of Finance’s January 30th, 2009 proposals on aggressive tax planning.

Tax Memo: 2009 Annual Tax Filing and Remittance Deadlines for Corporations
This PwC Tax Memo lists the 2009 tax filing and remittance deadlines for Canadian businesses.

Tax Memo: 2009 Federal Budget
This PwC Canada Tax Memo discusses the 2009 federal budget. Canada's Minister of Finance, Jim Flaherty, unveiled the budget on Tuesday January 27th, 2009.

Tax Memo: New Supreme Court Ruling on GAAR — Reflections on the Lipson Case
Read this Tax Memo for PwC’s analysis of the Supreme Court Ruling on GAAR.

Tax Memo: Important Supreme Court Ruling on GAAR — Highlights
This Tax Memo provides an overview of the decision in Jordan B. Lipson, Earl Lipson v. The Queen case.

Tax Memo: Functional Currency Tax Reporting
This Tax Memo discusses changes to section 261 of the Income Tax Act.

Tax Memo: Tax-Free Savings Account
This Tax Memo discusses the Tax-Free Savings Account, its rules and how it can benefit you.

Tax Memo: Enhancing Canada’s International Tax Advantage
Read this summary of the Advisory Panel on Canada’s System of International Taxation recommendations for improving Canada’s international tax system and PricewaterhouseCoopers’ commentary.

Tax Memo: Ontario Property Tax Alert
Learn how the new Ontario property tax assessments may affect you and how to get started with your property assessment appeal.

Tax Memo: Canada-US Income Tax Treaty
On December 15, 2008, the fifth Protocol (the Protocol) to the Canada-US Income Tax Convention entered into force when Canada and the US notified each other that their respective applicable procedures have been satisfied.

Ontario Corporate Tax Harmonization for Insurance Companies
This Tax Memo addresses Ontario corporate tax harmonization issues that affect insurance companies.

Tax Memo: Understanding RESPs
This Tax Memo discusses the RESP rules, including the latest changes to these rules. It will help you decide whether an RESP would be a suitable education savings vehicle for your family.

Tax Memo: 2008 British Columbia Economic Plan: Highlights
British Columbia’s Economic Plan, delivered on October 22, 2008, includes measures to improve the province’s competitiveness and reduce costs for families and businesses.

Tax Memo: Tax Planning for Income Trust Conversions and Acquisitions
This Tax Memo provides detailed comments about certain Canadian income tax issues that are relevant for planning income trust conversions and acquisitions

Tax Memo: Fifth Protocol to the Canada-US Income Tax Treaty: Technical Explanation
On July 10, 2008, the US Treasury Department released the Technical Explanation of the fifth Protocol to the Canada-US Income Tax Convention to provide guidance with respect to many questions relating to the application of the Protocol.

Tax Memo: Foreign Affiliate Elections: Deadlines Extended
On June 27, 2008, the federal Minister of Finance proposed measures to ease tax compliance for Canadian corporations with foreign affiliates.

Tax Memo: Functional Currency Election: Proposed Revisions and Extended Deadline
On June 27, 2008, the Department of Finance issued a news release proposing measures to ease tax compliance for Canadian corporations that report earnings in a foreign currency.

Tax Memo: Bill C-28 Foreign Affiliate Elections -- Approaching Filing Deadline
Companies with foreign affiliates could be affected by a number of generally relieving technical amendments to the foreign affiliate rules that became effective after Bill C-28 received royal assent on December 14, 2007.

Tax Memo: Withholding Tax on Interest -- Welcome Changes for 2008 and Beyond
Withholding tax on interest paid or credited on debts owing to non-residents may be reduced, and in many cases eliminated.

Tax Memo: International Tax Policy -- April 2008 Consultation Paper
The Advisory Panel on Canada’s System of International Taxation issued its consultation paper, Enhancing Canada’s International Tax Advantage, on April 25, 2008.

Tax Memo: Important Court Ruling on Treaty Interpretation -- Another Setback for the CRA
The Tax Court of Canada decision in Prévost Car Inc. v. The Queen provides valuable guidance on how receptive the courts are likely to be when the Canada Revenue Agency challenges some international structures.

Tax Memo: 2008 Alberta Budget: Tax Highlights
This document contains the highlights of tax measures included in the 2008/2009 Budget of the Government of Alberta, delivered April 22, 2008, by Minister of Finance Iris Evans. (PDF with highlights only.)

Tax Memo: The Move to IFRS: Tax Implications
The move to International Financial Reporting Standards (IFRS) from current Canadian Generally Accepted Accounting Principles (Canadian GAAP) will fundamentally change the way Canadian companies report their business results.

Tax Memo: 2009 Manitoba Budget: Tax Highlights
Manitoba's Minister of Finance, Greg Selinger, presented the province's 2009 budget on March 25, 2009. Read this Tax Memo for PwC's budget commentary.

Tax Memo: Quebec Budget 2008-2009: Tax Highlights
This document contains the highlights of tax measures included in the 2008/2009 Budget of the Government of Québec, delivered March 13, 2008, by Minister of Finance Monique Jérôme-Forget. (PDF with highlights only.)

Tax Memo: 2008 Quebec Budget
This document contains the highlights of tax measures included in the 2008/2009 Budget of the Government of Québec, delivered March 13, 2008, by Minister of Finance Monique Jérôme-Forget. (PDF only.)

Tax Memo: 2008 Federal Budget: Highlights
This PwC Canada Tax Memo shares highlights from the 2008 federal budget. The country's Minister of Finance, Jim Flaherty, unveiled the budget on Tuesday February 26th. (PDF with highlights only.)

Tax Memo: 2008 Federal Budget
Minister of Finance Jim Flaherty presented the minority government’s third budget on February 26, 2008. The budget contains a modest number of tax measures, but no tax rate or bracket changes or other broad-based tax initiatives. (PDF of full commentary only.)

Tax Memo: 2008 Annual Tax Filing and Remittance Deadlines for Corporations
In addition to filing annual income and capital tax returns (due six months1 following each taxation year end), canadian corporations may be required to meet several other Canadian annual filing and remittance deadlines.

Tax Memo: 2008 British Columbia Budget
As part of British Columbia's 2008-09 budget speech, Finance Minister Carole Taylor announced a number of provincial tax measures for individuals and businesses. (PDF only.)

Tax Memo: Pension-splitting Opportunity for 2007 Income Tax Returns
Newly enacted legislation provides seniors and other pensioners a new tax planning opportunity.

Tax Memo: House of Commons Standing Committee on Finance Recommends Tax Changes
On February 7, 2008, the House of Commons Standing Committee on Finance released its report, Taxing to Prosper: Canada’s System of Taxes, Fees and Other Charges.

Tax Memo: Reminder -- Two Critical Property Tax Deadlines Approaching
Two deadlines are approaching for those who own or lease commercial or industrial properties in Ontario to claim a tax rebate for the 2007 tax year or file a complaint for the 2008 tax year.

Tax Memo: Federal Corporate Tax Rate Reductions
Some corporations may be required to record significant adjustments to future tax balances and income tax expense, to reflect corporate tax rate reductions implemented by Bill C-28, which received royal assent on December 14, 2007.

Tax Memo: More Tinkering with the SIFT Rules
The Specified Investment Flow-Through rules, originally announced on October 31, 2006, and enacted in June 2007, impose a tax on distributions paid by publicly traded trusts and partnerships.

Tax Memo: Ontario Tax Harmonization
Ontario’s corporate income tax and minimum tax will be administered by the Canada Revenue Agency starting with taxation years ending after December 31, 2008.

Tax Memo: 2007 Ontario Economic Outlook and Fiscal Review Brings Tax Relief
Ontario’s Minister of Finance, The Honourable Dwight Duncan, presented the province’s 2007 Economic Outlook and Fiscal Review on December 13, 2007. (PDF only.)

Tax Memo: New Tax Era for Private Foundations
A Notice of Ways and Means Motion tabled in the House of Commons on November 13, 2007, enhances Canada’s tax incentives for individuals, corporations and trusts that donate publicly listed securities to private foundations, by extending the capital gains exemption to these gifts.

Tax Memo: Functional Currency: Proposed Election
On October 2, 2007, Canada’s federal government released legislative proposals to enact certain tax measures first announced in its 2006 budget.

Tax Memo: Draft Legislation Affects Insurers and Other Financial Institutions
The Department of Finance released draft legislation on November 7, 2007, that intends to simplify the taxation of entities defined in the Income Tax Act as financial institutions by better aligning the tax rules with the financial instruments accounting standard that came into effect on October 1, 2006.

Tax Memo: 2007 Federal Economic Statement Promises $60 Billion in Tax Cuts Over Six Years
PwC shares its response to the federal government's fiscal update on October 30, 2007. (PDF only.)

Tax Memo: Year-End Tax Planner (2007) -- for Individuals and Owner-Managed Businesses
Designed for investors and small and large business owners, PwC’s Tax Memo: Year-End Tax Planner (2007) can make your tax planning more efficient and cost-effective.

Tax Memo: Fifth Protocol to the Canada-US Income Tax Treaty -- Reflections
This Tax Memo reflects on the effect the Protocol will have on Canadian multinationals with US operations, US multinationals with operations in Canada and on certain individuals.

Tax Memo: Alert for Corporations: Draft Legislation Makes Previously Announced Changes
On October 2, 2007, the federal Minister of Finance, the Honourable Jim Flaherty, released an omnibus package of draft tax legislation that contains many personal and corporate changes.

Tax Memo: Canada-US Income Tax Treaty: Fifth Protocol Makes Major Changes
On Friday, September 21, 2007, after nearly 10 years of negotiation, the United States and Canada jointly released the fifth Protocol1 (the Protocol) to the Canada-US Income Tax Convention (Treaty).

Tax Memo: Latest CRA Views on the 95(6)(b) Foreign Affiliate Anti-Avoidance Rule: Reflections
This Tax Memo reflects on whether the CRA's latest ITTN publication signals a substantive change to previous CRA positions on the interpretation and application of paragraph 95(6)(b) of the Income Tax Act.

Tax Memo: SR&ED Investment Tax Credit Claims: Making the CRA’s Revised Procedures Work
Based on new strict guidelines, initial completeness checks and preliminary assessment of SR&ED claims are now carried out by taxation centre staff (rather than the Coordinating Tax Services Office).

Tax Memo: The CRA's Revised Position on SR&ED Contracts
The Canada Revenue Agency (CRA) recently revised its position on whether a taxpayer can claim, as a qualified expenditure for Investment Tax Credit (ITC) purposes, amounts paid to placement agencies under a contract to carry out Scientific Research and Experimental Development (SR&ED) work on the taxpayer’s behalf.