Estate executors now will be required to file a new form estimating the value of an estate - with supporting documention. Failure to file or making false statements may lead to fines, penalties and even imprisonment
Partly in response to the U.S.'s FATCA initiative to collect taxes from its citizens who live abroad, 60 other countries, including Canada, have signed on to the Common Reporting Standard, which creates an international tax-collection system
New rules proposed for proceeds from the sale of shares and real estate to be donated to charities
Many financial advocates applaud lower mandatory withdrawals, and some want them abolished altogether. But government depends upon the annual tax revenue
Proposal to tax stock options fully would not generate the expected revenue as the government would have to introduce a corporate tax deduction to avoid double taxation
Failure to deliver on changing consumer expectations could see banks lose business to new, innovative financial service firms, survey suggests
By yearend, firms must report market value, position cost and DSCs
The Federal Court of Canada has addressed the legality of exchanging tax information, but left open the question of its constitutionality
Most advisors say they already have transformed their businesses in anticipation of CRM2, but others say the new regulatory regime is bound to be disruptive
The acquisition is one element of B2B Bank’s long-standing interest in adding to its investment loan portfolio