Tax articles | Grant Thornton insights

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Planning around the 2017 federal budget: Possible changes to the capital gains inclusion rate

With the 2017 federal budget likely due to be released in late February or March, there is speculation that the government may curtail the preferential tax treatment afforded to gains on the disposition of capital property. [January 26, 2017] More...

Post-election outlook—US corporate tax

The election of Donald J. Trump as the next US President and the Republican sweep of the House of Representatives and the Senate create the very possibility of significant US tax legislation in the next two years. [November 18, 2016] More...

Post-election US Tax Outlook

Surprising the vast majority of pollsters and many political pundits, Donald J. Trump prevailed in the US election on November 8, and will be inaugurated as the country’s 45th president on January 20, 2017. Among his policy priorities, Trump has outlined a range of tax measures that could result in substantive changes for US taxpayers, including Canadian residents who file tax returns with the IRS. [November 14, 2016] More...

2016 Year-end tax planning guide

Nobody likes to pay too much tax. Luckily, there are a number of tax-saving measures that can help with just that—both for businesses and individuals. But, in order to capitalize on these opportunities, now’s the time to review your 2016 tax situation to see if any apply to you. [November 10, 2016] More...

Final US related-party debt regulations will impact US subsidiaries of Canadian parent companies

On October 13, the US Treasury Department and the IRS released new final and temporary Section 385 regulations (TD 9790) addressing the treatment of related-party debt. [October 27, 2016] More...

Changes to principal residence exemption–trusts and non-residents

On October 3, 2016, Federal Finance Minister Bill Morneau announced changes which will affect trusts and non-residents owning residential property in an effort to ensure “housing markets are stable and functioning efficiently.” [October 26, 2016] More...

Welcome to the future: Getting the most out of Budget 2016

An article by Martha Oner and Glen Gilbert. PLANT July/August 2016 issue. [August 23, 2016] More...

Department of finance releases draft legislation for country-by-country reporting

In October 2015, the Organization for Economic Co-operation and Development (OECD) released its Base Erosion and Profit Shifting (BEPS) Action 13, focused on new country-by-country (CbC) reporting requirements for large multinational enterprises (MNEs). [August 19, 2016] More...

CRA’s new position on US LLLPs and LLPs

On May 26, 2016, the Canada Revenue Agency (CRA) announced that it will consider Florida and Delaware limited liability limited partnerships (LLLPs) and US limited liability partnerships (LLPs) to be corporations for Canadian tax purposes. [July 26, 2016] More...