I will be speaking about split receipts at the National Charity Law Symposium on May 10, 2007, in Toronto. I hope to see some of you there.
Eligible dividends
Joe and I prepared a presentation for some area accountants on the new eligible dividend rules. You can download a copy here.
Lipson appeal
The Federal Court of Appeal, in Lipson v. The Queen, 2007 FCA 113, has dismissed the taxpayer’s appeal. Lipson was a GAAR decision of Chief Justice Bowman of the Tax Court.
Badges
Dobbs: “If you’re the police, where are your badges?” Gold Hat the Bandit: “Badges!? We ain’t got no badges. We don’t need no badges! I don’t have to show you any stinking badges!!” —The Treasure of the Sierra Madre That…
Children’s Fitness Tax Credit
We have received a few inquiries from interested parents and athletic organizations asking for information about the new children’s fitness tax credit. The CRA has published some useful information for parents and organizations on its website.
Partnership reporting changes, again
David Bazar was kind enough to point out that, in fact, the CRA has delayed the implementation of the administrative change noted in my last post. Please see the CRA notice here.
Partnership reporting changes
The Golden Horseshoe Tax Study Group met yesterday. Kathryn Smith pointed out to the group that the CRA has changed its administrative policy on the reporting required of a partnership.
Property
Every now and then a taxpayer proposes to transfer an intangible “something” to a corporation for valuable consideration. The taxpayer, or his or her advisers, would do well to read Tri Pacific Gas Corporation v. Canada, 2007 FCA 38, before proceeding.
Budget news
The CBC has a good quick summary of the federal budget.
CRA service update
The CRA’s latest press release on its service problems can be found here.