Tax Insights Publications

Our periodic newsletter, Tax Insights, will keep you up-to-date on a broad range of corporate and personal tax issues.

Tax Insights: GST/HST and QST alert: Investment plans are required to obtain investor percentages – actions required by October 15, 2018

Distributed investment plans (DIP), which pursuant to proposed amendments to the Excise Tax Act include investment limited partnerships, that are a selected listed financial institution (SLFI) are required to obtain information from investors to determine the plan’s provincial attribution percentage, so that the plan's GST/HST and QST liabilities can be calculated. Exchange-traded funds (ETF) and exchange-traded series are excluded from this requirement.

Tax Insights: IRS further delays the full implementation of the derivative taxation regime under section 871(m)

On September 20, 2018, the Office of the Associate Chief Counsel (International) at the US Internal Revenue Service (IRS) issued Notice 2018-72: Extension of the Phase-in Period for the Enforcement and Administration of Section 871(m). Notice 2018-72 (the Notice) provides relief for taxpayers and withholding agents still struggling to interpret and implement complex regulations issued by the IRS under Internal Revenue Code (IRC) section 871(m), which deals with the taxation of derivative products that reference a US security.

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