Quebec Finally Phasing Out the Input Tax Refund (“ITR”) Restrictions Applicable to Large Businesses

Commencing January 1, 2018, Large Businesses[1] in Quebec will be able to gradually claim ITRs on previously restricted expenses as listed below. Purchases or leases of road vehicles that must be registered pursuant to the Highway Safety Code in order to travel on public roads (vehicles weighing less than 3,000 kilograms); Fuel used to power…

Recap of the July 18, 2017 Proposals & the Modifications Announced This Week by Finance Minister

Here’s a recap of the July 18, 2017 proposals and the modifications announced this week (October 16, 2017) by Canada’s Finance Department: Federal Corporate Tax Rate on Small Business Deduction: July 18, 2017 No Mention Modifications – Week of October 16, 2017 The Federal corporate tax rate for the Small business deduction on Small is…

Summary of the New Federal Proposals by FL Partners Nick Moraitis & Josh Miller

On July 18, Finance Minister Bill Morneau unveiled plans to tighten what the federal government calls “unfair” loopholes for private corporations that enable many wealthy Canadians, including professionals like some lawyers, to reduce the amount of tax they pay. In a series of 6 capsules, FL Fuller Landau’s Tax Partner Nick Moraitis gives his comments…

Commentary from FL's Managing Partner Michael Newton on the Proposed Tax Changes

The following letter was written by FL Fuller Landau’s Managing Partner Michael Newton and sent to The Honorable William “Bill” Francis Morneau, Minister of Finance, and to The Honorable Marc Garneau, Member of Parliament for Notre-Dame-de-Grâce – Wesmount, in response to the proposed federal tax changes. I write to you in my capacity as business owner –…