Tax Tracks

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Podcast series

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Welcome to Tax Tracks : A PwC Tax Services Podcast Series

Day-to-day management and responsibility of the tax function demands time and investment. PwC's Tax Tracks podcast series is designed to guide today's busiest tax directors through evolving technical, management, and policy and administration issues affecting the tax practice.

Episodes

Episode 44: Surplus Stripping

Release date: January 31, 2012
Running time: 8:50 minutes

In this episode, Marc discusses what surplus stripping is, statistical background on the GAAR committee and the cases they’ve worked on, if there’s a policy in the Income Tax Act against surplus stripping, and other sources of information about the topic.

Contact: Marc Vanasse
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Episode 43: OECD Transfer Pricing

Episode 43: Revisions to the OECD transfer pricing guidelines – Chapters 1-3

Release date: January 17, 2012
Running time: 9:05 minutes

In this episode of Tax Tracks Elisabeth Finch talks about the revisions to the OECD transfer pricing guidelines: why taxpayers should pay attention to these changes, how they affect them, and how they should respond to the revisions.

Contact: Elisabeth Finch
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Episode 42: August 2011 Foreign Amendments - Upstream loans

Episode 42: August 2011 Foreign Amendments - Upstream Loans

Release date: January 3, 2012
Running time: 11:12 minutes

In this episode of Tax Tracks Ken Buttenham discusses the proposed foreign affiliate amendments that were released on August 19, 2011 with particular attention to the introduction of the “upstream loan” rules. These amendments contain significant changes from the last version in 2004.

Contact: Ken Buttenham
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Episode 41: Jenkins Report

Episode 41: Jenkins Report

Release date: October 21, 2011
Running time: 8:17 minutes

In this episode, Vik Sachdev and Tracey Jennings address the recommendations contained in the Jenkins report on how to improve business innovation in Canada. To learn more about the Jenkins report, read our analysis.

Contact: Vik Sachdev and Tracey Jennings
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Episode 40: Business restructuring

Episode 40: Business Restructuring

Release date: September 8, 2011
Running time: 7:34 minutes

In today’s episode, we spoke with Marc Levstein about global business restructuring: what it means, recent trends, and specific issues that the authorities are targeting.

Contact: Marc Levstein
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Episode 39: PST Wind-up

Release date: August 23, 2011
Running time: 6:17 minutes

Note: An August 26, 2011 B.C. referendum revoked the HST and will reinstate B.C. PST with a target date of March 31, 2013. See our Tax memo: B.C. votes to extinguish HST for further information.

In this podcast, James Capobianco discusses the issues related to winding up PST in Ontario and British Columbia, and what companies can do to prepare for impending audits – including reviewing existing documentation – and then what to do if assessed upon audit.

Contact: James Capobianco
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Episode 38: PwC FAITTM

Release date: July 12, 2011
Running time: 7:16 minutes

In this episode of Tax Tracks Murray Lee explains what PwC
FAITTM (Foreign Asset Investment Trust) is and how it resurrects the income trust structure. He also discusses how this structure can help companies gain access to public markets as a source of capital.

Contact: Murray Lee
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Episode 37: Owning a U.S. Vacation Property

Release date: June 29, 2011
Running time: 9:47 minutes

In this episode, Beth Webel discusses the implications of owning a vacation property in the U.S. Specifically, she covers the potential capital gains tax in the U.S. and Canada, estate taxes and what may happen if the taxpayer as owner of a property.

Contact: Beth Webel
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Episode 36: PwC FAIT

Episode 36: Interactive Digital Media Tax Credits

Release date: June 14, 2011
Running time: 13 minutes

Darren Speake discusses the Interactive Digital Media Tax Credit, the industries and projects it applies to, the potential size of the credit and how it works with Scientific Research and Experimental Development claims.

Contact: Darren Speake
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Episode 35: Getting the most from your Scientific Research and Experimental Development (SR&ED) efforts

Episode 35: Getting the most from your Scientific Research and Experimental Development (SR&ED) efforts

Release date: May 13, 2011
Running time: 8:28 minutes

In this Tax Tracks episode, Shawn Reain discusses how to take best advantage of the SR&ED program, what can be claimed under this program and how to be more efficient with your claims.

Contact: Shawn Reain
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Episode 34: Post-HST Health Checks

Episode 34: Post-HST Health Checks

Release date: April 26, 2011
Running time: 9:53 minutes

In this episode of Tax Tracks, Audrey Diamant discusses why it's important for companies to continue to review their HST situation. She talks about the complexity in the tax rules, RITCs, place of supply rules, and the day-to-day issues that can potentially lead to interest and possibly penalties on audit.

Contact: Audrey Diamant
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Episode 33: Partnership Information Returns

Release date: April 5, 2011
Running time: 10:22 minutes

In this episode of Tax Tracks, Liz Johnson explains how changes in CRA’s administrative policy affect Partnership information returns. Specifically, she talks about what financial thresholds are, what the new criteria are for filing the partnership information returns, effective date, and CRA’s filing deadlines. She also shares why she thinks the rules changed.

Liz is a partner in Wilson & Partners LLP, a law firm affiliated with PwC, and in the Canadian National Technical Services group. She is a frequent speaker at seminars and conferences on income tax matters and has written extensively on a wide range of topics including corporate finance, partnerships, interest deductibility and tax avoidance.

Contact: Elizabeth Johnson
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Episode 32: Memorandum of Understanding (MOU) on the Canada-U.S. Tax Treaty Arbitration Process

Release date: March 16, 2011
Running time: 09:04 minutes

When Canadian companies have transactions with related parties in the United States, double taxation can be a concern. A key part of the process for resolving disputes in this regard is the Arbitration Process associated with the Canada-U.S. Tax Treaty. The Memorandum of Understanding (MOU) on that process is important because it ensures that these disputes will be resolved, and because arbitration encourages governments to resolve issues more quickly.

Martin Skretkowicz works with a range of Canadian businesses, specializing in dispute resolution.

Contact: Martin Skretkowicz
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The Evolving World of Tax Risk - A Discussion with John Gotts

Episode 31: The Evolving World of Tax Risk – A Discussion with John Gotts

Release date: February 15, 2011
Running time: 10:44 minutes

Organizations face a wide variety of tax risks. PwC Tax partner John Gotts provides the background, noting that early involvement of the tax department in business decisions increases the opportunity to mitigate risk. Tax risk management has become a topic of increasing interest, with the potential for long-term paybacks to those who implement appropriate programs and processes.

Contact: John Gotts
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Episode 30: Major GST/HST changes for Canadian pension plans 

Release date: November 26, 2010
Running time: 11:51 minutes

Pension plans and plan sponsors will have to start doing some things differently, as a result of new GST/HST rules. Pension plans that are Selected Listed Financial Institutions (SLFIs) need to consider the elections they should file and be aware of the GST/HST return reporting obligations. PwC tax senior manager Jason Cooper provides the background and addresses other challenges, including the deemed supply issue, which demands careful modeling of the fair market value of the supplies that will be deemed to be made to the pension plan.

Jason’s principal focus is the application of indirect taxes to financial institutions.  In this capacity he has worked with a number of institutions on diverse matters such as advising on the unique application of sales taxes to the financial services sector to designing and implementing controls.  In addition, Jason has assisted in preparing harmonized sales tax impact analyses.

Contact: Jason Cooper
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Episode 29: Understanding and Benefitting from PwC’s Corporate Tax Recovery Process – A Discussion with Dean Landry 

Release date: Sep 14, 2010
Running time: 11:19 minutes

By using a proprietary system for identifying tax overpayments, many companies have been able to reduce their effective tax rates significantly. PwC Tax Partner Dean Landry is a co-developer of Direct Tax Review (DTR). In this episode, Dean explains why DTR is needed, notes how the system links accounting and tax information and suggests how companies can benefit from the surprisingly easy process.

Learn about how DTR can provide the missing link between tax returns and underlying accounting information – making substantial tax recoveries possible

Contact: Dean Landry
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Episode 28: Trade Management: Deidre Hayes discusses why and how to manage export controls compliance at your company

Release date: Aug 31, 2010
Running time: 16:34 minutes

Canada’s export controls affect the movement of some goods and technologies, depending on their nature and their destination. Goods of US origin require an export permit. Compliance can be subject to government audit, and failure to comply with regulations can lead to significant penalties – even shut-down. As Deirdre Hayes of PwC’s trade management practice explains, it is essential for management and employees in all areas – but especially risk management, logistics and general counsel, to be familiar with the rules and make sure they are followed.

Learn about the requirements of both the Canada Border Service Agency and the Department of Foreign Affairs and International Trade, and how to avoid running afoul of them.

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Episode 27: Outsourcing Tax Compliance Functions and Global Compliance Management: Perspectives from Betty Ann Jarrett

Release date: Aug 17, 2010
Running time: 11:35 minutes

Outsourcing or co-sourcing tax compliance functions, whether domestic or global, can be a way to free-up limited internal resources and still meet increasing expectations, while controlling costs. These are desirable characteristics in times of hiring freezes and economic pressures. Applying her experience in PwC’s Global Compliance Services practice, Betty Ann Jarrett describes different types of arrangements and outlines key considerations, including the scope of the arrangements, supporting technology and troubleshooting.

Learn how to reap the benefits of outsourcing or co-sourcing tax compliance functions, while avoiding potential pitfalls.

Contact: Betty Ann Jarrett
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Episode 26: Iain Morris Discusses the Tax Issues Facing Non-residents who Provide On-site Installation and Training Services in Canada

Release date: Aug 4, 2010
Running time: 11:33 minutes

When companies that are not residents of Canada provide construction, installation or training services here – perhaps for a related company – both the service provider and the Canadian company can face important tax implications that should be anticipated and dealt with. Potential concerns include withholding payments, filing income tax returns, payroll taxes and sales taxes. PwC tax partner Iain Morris outlines the issues and steps that should be taken to avoid problems and expensive surprises.

Learn about the risk of audits of non-residents, how to qualify for exemptions from withholding tax and how to recognize the various tax considerations that can arise when non-residents perform services in Canada.

Contact: Iain Morris
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Episode 25: Wally Conway’s Broad-ranging Insider’s View of What Businesses and Individuals Should Expect in Tax

Release date: July 16, 2010
Running time: 14:28 minutes

Canada’s tax system evolves to respond to changing economic realities, on the provincial, national and international levels, and is affected by other factors, including political ones. In this episode, Wally Conway taps into wisdom garnered in his 26 years at the Tax Legislation Division of the federal Department of Finance, and in his subsequent experience with PwC’s Canadian National Tax Service practice.

Learn about likely developments in corporate tax, personal tax and sales tax, as well as – perhaps most important – tax administration and enforcement over the next five years.

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Episode 24: Alastair Moran Discusses the Intersection Between Customs Valuation and Transfer Pricing

Release date: June 29, 2010
Running time: 11:42 minutes

When importing goods into Canada from related foreign parties, Canadian companies often do not understand the important intersection between transfer pricing and customs valuations.  In this episode, Alastair Moran discusses the various methods for customs valuation and how these are impacted by transfer pricing in so far as the customs value of a particular good may be different from its transfer price. He also discusses unbundling royalty payments, the effect of management fees on customs valuations and implications on the final selling price.
Contact: Alastair Moran
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Episode 23: Trade Management: A Dialogue with Andrew Vanderwal on Getting the Most Out of Free Trade Agreements

Release date: June 15, 2010
Running time: 9:33 minutes

Canadian companies in the business of importing or exporting goods are interested in Canada's free trade agreements and ensuring they comply with them. In this episode, Andrew Vanderwal, PwC's resident trade and origin management professional, discusses the complexities associated with free trade compliance and origin management.

Learn about free trade agreements as they apply to Canada, free trade compliance costs and the challenges associated with free trade agreement compliance.
Contact: Andrew Vanderwal
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Episode 22: Managing Foreign Affiliate and Surplus Reporting in a Changing Environment – An Interview with Loretta Matteo

Release date: June 1, 2010
Running time: 8:42 minutes

Tax directors always struggle with the myriad of tax compliance responsibilities, particularly those pertaining to reporting of foreign affiliates and surplus computations. In this episode, PwC’s Loretta Matteo shares her experiences working with clients who have significant foreign affiliate and surplus reporting obligations. She focuses on the problems when managing this process, how to best deal with the large amount of pending legislation and tips on how to use external advisors.
Contact: Loretta Matteo
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Episode 21: Understanding and Benefitting from a Canadian Sales Tax Recovery Review – Perspectives from Paresh Shah

Release date: May 17, 2010
Running time: 8:34 minutes

Sales tax recovery reviews can bring much needed cash to most types of businesses. In this episode, Paresh Shah discusses the important aspects and benefits of a sales tax recovery review, how to identify when you need one and the kinds of businesses that will benefit the most from these reviews. He also discusses the recovery review process and the approach companies should take when hiring a service provider.
Contact: Paresh Shah
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The Evolving World of Tax Risk - A Discussion with John Gotts

Episode 20: John Gotts on Tax Function Effectiveness: The Importance of Data Management is the Tax Function

Release date: May 4, 2010
Running time: 10:35 minutes

Enhancing data available to the tax function is critical to a successful technology plan. With tax directors facing pressure to do more with less, they are turning to third-party software solutions to improve their tax accounting and other tax decision-making systems. In this episode, PwC’s John Gotts stresses the importance of proper data management when designing and when implementing these third-party solutions.
Contact: John Gotts
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Episode 19: Managing Commercial Property Taxes as an Owner or Tenant – Insights from Robert Cushing

Release date: April 20, 2010
Running time: 13:14 minutes

Businesses face severe strain to manage costs and cash outlays. Whether your business owns property or you’re a tenant allocated property taxes by the owner, one easy way to alleviate the strain is to properly manage your commercial property taxes.

Unfortunately, commercial property taxes are one of the least understood taxes and can represent a significant financial burden for businesses. However, opportunities exist to save on or recover these taxes where rebates or relief are available, if the owner is exempt or where the property classification changes. Robert Cushing shares his insights on managing these taxes.
Contact: Robert Cushing
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Episode 18: Audrey Diamant weighs in on the February 2010 HST Place of Supply Rules and the Current State of Harmonization

Release date: April 6, 2010
Running time: 11:46 minutes

With HST implementation in Ontario and BC on July 1, 2010, tax directors and others involved in the harmonization process need to understand the new HST place of supply rules released in February 2010. In this podcast, PwC’s Audrey Diamant discusses changes to the rules which impact the supply of services and intangible property, and the approach to harmonization that companies must take.
Contact: Audrey Diamant
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Episode 17: Tax Structuring Executive Compensation Plans on Income Trust Conversions – Unique Perspectives from Rick Schubert

Release date: March 30, 2010
Running time: 8:51 minutes

Tax directors and company executives face significant challenges when structuring executive compensation arrangements, particularly from a tax perspective. In this podcast, PwC’s Rick Schubert discusses challenges stemming from converting income trust structures to corporate structures, and the need to revisit tax structuring even if compensation arrangements are already in place.
Contact: Rick Schubert
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Episode 16: 2010 Federal Budget: Proposed Changes to Stock Option Rules – Perspectives from Rick Schubert

Release date: March 16, 2010
Running time: 10:21 minutes
The 2010 Federal Budget proposed changes to tandem or "cash out" stock options that will have implications for employees and employers alike. In this podcast, Rick Schubert, a PwC executive compensation tax professional, discusses the implications for employers, what planning alternatives exist, and what employers should do immediately to deal with the fallout from these changes.
Contact: Rick Schubert
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Episode 15: Pressure Points in the Transfer Pricing Audit Process - Straight Talk with Martin Skretkowicz

Release date: February 9, 2010
Running time: 9:13 minutes
Trying to manage the transfer pricing audit and assessment process can be strenuous. PwC's Martin Skretkowicz shares insights and experiences relating to this growing concern.
Contact: Martin Skretkowicz
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Episode 14: Navigating Taxes at the US State and Local Level – an Interview with Nadia Manin

Release date: February 2, 2010
Running time: 9:05 minutes
Authorities are pursuing taxes at the US state level more aggressively then ever before. PwC’s Nadia Manin reveals how to deal with tax officials and mitigate taxes and penalties.
Contact: Nadia Manin
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Episode 13: Managing through the CRA Audit and Assessment Process: Insights from Rick Biscaro

Release date: January, 28, 2010
Running time: 8:07 minutes
Former CRA director Rick Biscaro, a senior tax advisor in our Canadian National Tax Services group, offers his insights for when an auditor arrives at your company to assess your tax situation.
Contact: Rick Biscaro
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Episode 12: Transfer Pricing Advance Pricing Arrangements (APAs) – Straight Talk with Martin Skretkowicz

Release date: January, 19, 2010
Running time: 9:13 minutes
PwC’s Martin Skretkowicz discusses the advantages of Advance Pricing Arrangements and shares key considerations for tax directors.
Contact: Martin Skretkowicz
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Episode 11: Pricing Intercompany Guarantee Fees: the GE Capital Case – an Analysis by PwC’s Jeff Rogers

Release date: January, 12, 2010
Running time: 11:42 minutes
Has the GE Capital case redefined the arm's length principle? Listen to Jeff Rogers, a PwC Transfer Pricing senior manager, to find out.
Contact: Jeff Rogers
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Episode 10: Understanding the CRA: Advance Rulings and the GAAR Committee with former CRA director Rick Biscaro

Release date: December 15, 2009
Running time: 11:56 minutes
Understanding the advance ruling process from the CRA’s sightline is essential. PwC’s Rick Biscaro, a former CRA director, discusses how to handle a hot audit situation, among other issues.
Contact: Rick Biscaro
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Episode 9: Business Travellers between Canada and the US: A Fifth Protocol Treaty Update

Release date: November 17, 2009
Running time: 08:33 minutes
Travelling between Canada and the US can be taxing — literally. This PwC podcast highlights the recent Canada-US Treaty changes that will impact the taxation of cross-border employment.
Contact: Diane Akelaitis or Candace Kroeker
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Episode 8: Promoting the Tax Agenda to Key Stakeholders and Executives of the Company

Release date: November 9, 2009
Running time: 07:27 minutes
Getting your stakeholders and decision makers to buy into the value of tax can be daunting. PwC can assist you in bringing tax higher up on the corporate agenda.
Contact: John Gotts
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Episode 7: Harmonization -- An Interview with Audrey Diamant

Release date: October 29, 2009
Running time: 08:57 minutes
Effective July 1, 2010, Ontario and BC will implement the Harmonized Sales Tax (HST). On October 14, 2009, the proposed transitional rules were released for both provinces. PwC’s Audrey Diamant discusses the harmonization process and the transitional provisions for both Ontario and BC.
Contact: Audrey Diamant
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Episode 6: Making Technology Investments for the Tax Function

Release date: September 24, 2009
Running time: 07:18 minutes
Did you know that technology is generally underutilized in the tax function? Understanding the application of existing technology and investment in new technology is key to enhancing your tax function. Let PwC help.
Contact: John Gotts
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Episode 5: Canadian Export Controls: What They Are and Why You Need to know About Them

Release date: August 28, 2009
Running time: 06:18 minutes
Controls over the export of goods and technologies out of Canada may impact many industries including manufacturing, technology and software, pharmaceuticals, research etc. Noncompliance can be harsh and includes fines, civil and criminal sanctions or the closure of operations.
Contact: Michael Stark
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Episode 4: Going Green Incentives

Release date: June 30, 2009
Running time: 06:22 minutes
“Going green” challenges many businesses but is worth pursuing financially. Learn about various environmental incentives (provincial and federal) that will benefit your organization.
Contact: Lana Paton or Wendy Potomski
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Episode 3: Ontario Sales Tax Harmonization

Release date: June 9, 2009
Running time: 06:30 minutes
Ontario’s plan to harmonize federal and provincial sales taxes by July 1, 2010 presents a range of implications for different industries and businesses. Are you prepared?
Contact: Brian Wurts
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Episode 2: CRA announces major changes in T106 reporting

Release date: June 2, 2009
Running time: 06:29 minutes
The CRA’s newly revised T106 form puts the onus on taxpayers to provide more detail regarding financial instruments and derivative transactions. PwC will help you simplify the process.
Contact: Emma Purdy
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Episode 1: Quebec Proposals on Aggressive Tax Planning

Release date: March 26, 2009
Running time: 06:29 minutes
The Quebec government proposes a new approach to “aggressive tax planning.” Find out how these proposals may impact your business.
Contact: Pierre Bourgeois
2009-10-15 UPDATE: Tax Memo: Revised Quebec Aggressive Tax Planning Proposals
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