Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pf.editors
Kim Brooks, Kevin Milligan, Daniel Sandler
{"title":"Policy Forum: Editors' Introduction—Decentralized Tax Collection at Home and Abroad","authors":"Kim Brooks, Kevin Milligan, Daniel Sandler","doi":"10.32721/ctj.2023.71.3.pf.editors","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pf.editors","url":null,"abstract":"","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136159838","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pf.godbout-fr
Luc Godbout, Michaël Robert-Angers
Dans cet article, les auteurs décrivent dans quelle mesure l'application de l'impôt sur le revenu des particuliers au Québec se distingue des autres provinces canadiennes. Les origines de cette différenciation ainsi que le détail des particularités fiscales québécoises, qui ont un effet notamment sur la détermination du revenu net, sont abordées. L'autonomie du Québec en cette matière a des incidences concrètes sur le revenu disponible des québécois et lui permet de marquer ses préférences en matière de politiques publiques tout en lui offrant la possibilité de protéger sa base d'imposition. Toutefois, cette autonomie est limitée par des contraintes pratiques et elle génère une lourdeur administrative supplémentaire. Quelques réflexions à l'égard de la simplification de l'exercice de conformité fiscale des contribuables québécois sont par ailleurs présentées en conclusion.
{"title":"Policy Forum : Comment se matérialise l'exercice de l'autonomie fiscale du Québec?","authors":"Luc Godbout, Michaël Robert-Angers","doi":"10.32721/ctj.2023.71.3.pf.godbout-fr","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pf.godbout-fr","url":null,"abstract":"Dans cet article, les auteurs décrivent dans quelle mesure l'application de l'impôt sur le revenu des particuliers au Québec se distingue des autres provinces canadiennes. Les origines de cette différenciation ainsi que le détail des particularités fiscales québécoises, qui ont un effet notamment sur la détermination du revenu net, sont abordées. L'autonomie du Québec en cette matière a des incidences concrètes sur le revenu disponible des québécois et lui permet de marquer ses préférences en matière de politiques publiques tout en lui offrant la possibilité de protéger sa base d'imposition. Toutefois, cette autonomie est limitée par des contraintes pratiques et elle génère une lourdeur administrative supplémentaire. Quelques réflexions à l'égard de la simplification de l'exercice de conformité fiscale des contribuables québécois sont par ailleurs présentées en conclusion.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094321","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.ptp
Vasiliy Vorobiev, Nikolas Letellier-Chabot
This article provides a general overview of the proposed changes to the current alternative minimum tax regime announced in the 2023 federal budget, highlights their impact on high-income clients, and discusses practical planning considerations to mitigate unfavourable tax results in selected scenarios.
{"title":"Personal Tax Planning: New AMT Rules—Is the Alternative Minimum Tax a Paper Tiger with New Fangs?","authors":"Vasiliy Vorobiev, Nikolas Letellier-Chabot","doi":"10.32721/ctj.2023.71.3.ptp","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.ptp","url":null,"abstract":"This article provides a general overview of the proposed changes to the current alternative minimum tax regime announced in the 2023 federal budget, highlights their impact on high-income clients, and discusses practical planning considerations to mitigate unfavourable tax results in selected scenarios.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094336","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pfp
Vasiliy Vorobiev, Nikolas Letellier-Chabot
Cet article donne un aperçu général des modifications proposées au régime actuel de l'impôt minimum de remplacement, qui ont été annoncées dans le budget fédéral de 2023. Il met en évidence leur incidence sur les clients à revenu élevé et examine les considérations pratiques de planification pour atténuer les résultats fiscaux défavorables dans certains scénarios.
{"title":"Planification fiscale personnelle : Les nouvelles règles relatives à l'IMR — Est-ce que l'impôt minimum de remplacement est un tigre de papier avec de nouveaux crocs?","authors":"Vasiliy Vorobiev, Nikolas Letellier-Chabot","doi":"10.32721/ctj.2023.71.3.pfp","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pfp","url":null,"abstract":"Cet article donne un aperçu général des modifications proposées au régime actuel de l'impôt minimum de remplacement, qui ont été annoncées dans le budget fédéral de 2023. Il met en évidence leur incidence sur les clients à revenu élevé et examine les considérations pratiques de planification pour atténuer les résultats fiscaux défavorables dans certains scénarios.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"114 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pf.vaillancourt
François Vaillancourt
This article describes how the idea of a Quebec single income tax report (QSITR) became widely supported by Quebec politicians, economic analysts and commentators, and residents of the province over the 2010-2022 period. It also shows estimates of the drop in administrative costs that could result from moving from two income tax reports to one. The author argues that, owing to various aspects of the personal income tax environment in Canada, the reduction in costs achievable by adopting a QSITR would not be very high.
{"title":"Policy Forum: The Quest for a Quebec Single Income Tax Report—History and Estimated Savings","authors":"François Vaillancourt","doi":"10.32721/ctj.2023.71.3.pf.vaillancourt","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pf.vaillancourt","url":null,"abstract":"This article describes how the idea of a Quebec single income tax report (QSITR) became widely supported by Quebec politicians, economic analysts and commentators, and residents of the province over the 2010-2022 period. It also shows estimates of the drop in administrative costs that could result from moving from two income tax reports to one. The author argues that, owing to various aspects of the personal income tax environment in Canada, the reduction in costs achievable by adopting a QSITR would not be very high.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094332","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.devlin
Rose Anne Devlin, Michela Planatscher
There are several reasons why governments fund charities. Relative to government ministries, charities are often better able to assess and adapt to local needs, serve vulnerable populations, and deliver culturally sensitive services where appropriate. This article investigates the funding decisions of governments by focusing on charities that provide services to Indigenous individuals. The authors use Canada Revenue Agency T3010 data on registered charities from 2003 to 2017 to extract information on charities that serve the Indigenous population and further separate this group into those located off and on reserves. Governments fund Indigenous-serving charities differently than their non-Indigenous counterparts. Being an Indigenous-serving charity is associated with a 25 percent increase in the predicted probability of receiving government support relative to non-Indigenous charities (for the reference group). Indigenous-serving charities on reserve are 17 percent less likely to receive public funding relative to those off reserve. Federal government funding seems to act as a catalyst for provincial and municipal funding. The authors' results lend support to the idea that governments fund charities to provide locally appropriate services to vulnerable populations.
{"title":"Government Funding of Charities Serving Indigenous Peoples","authors":"Rose Anne Devlin, Michela Planatscher","doi":"10.32721/ctj.2023.71.3.devlin","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.devlin","url":null,"abstract":"There are several reasons why governments fund charities. Relative to government ministries, charities are often better able to assess and adapt to local needs, serve vulnerable populations, and deliver culturally sensitive services where appropriate. This article investigates the funding decisions of governments by focusing on charities that provide services to Indigenous individuals. The authors use Canada Revenue Agency T3010 data on registered charities from 2003 to 2017 to extract information on charities that serve the Indigenous population and further separate this group into those located off and on reserves. Governments fund Indigenous-serving charities differently than their non-Indigenous counterparts. Being an Indigenous-serving charity is associated with a 25 percent increase in the predicted probability of receiving government support relative to non-Indigenous charities (for the reference group). Indigenous-serving charities on reserve are 17 percent <i>less likely</i> to receive public funding relative to those off reserve. Federal government funding seems to act as a catalyst for provincial and municipal funding. The authors' results lend support to the idea that governments fund charities to provide locally appropriate services to vulnerable populations.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094325","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.ctp
Samantha Iorio, Ines Yu, Mike Collinge
This article discusses the Canadian income tax treatment of earnouts, primarily as they relate to share-based sale transactions. The article begins by providing an overview of the commercial environment driving the earnout structure in recent transactions and the resulting tax impact. It then examines the legislative history and income tax treatment of earnouts, including the cost recovery method and the most recent view of the Canada Revenue Agency, followed by a comparison of royalties with earnouts. Next, the definition and valuation of goodwill are explored in relation to the impact of goodwill on the characterization of earnouts. The article then provides an overview of a reverse earnout as an alternative to a standard earnout structure, its tax implications, and the most recent court case on a reverse earnout. Finally, the article discusses the nuances of the tax treatment of earnout payments to purchasers after the acquired property to which the earnout relates has disappeared or has been disposed of.
{"title":"Corporate Tax Planning: The Refashioning of Earnouts","authors":"Samantha Iorio, Ines Yu, Mike Collinge","doi":"10.32721/ctj.2023.71.3.ctp","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.ctp","url":null,"abstract":"This article discusses the Canadian income tax treatment of earnouts, primarily as they relate to share-based sale transactions. The article begins by providing an overview of the commercial environment driving the earnout structure in recent transactions and the resulting tax impact. It then examines the legislative history and income tax treatment of earnouts, including the cost recovery method and the most recent view of the Canada Revenue Agency, followed by a comparison of royalties with earnouts. Next, the definition and valuation of goodwill are explored in relation to the impact of goodwill on the characterization of earnouts. The article then provides an overview of a reverse earnout as an alternative to a standard earnout structure, its tax implications, and the most recent court case on a reverse earnout. Finally, the article discusses the nuances of the tax treatment of earnout payments to purchasers after the acquired property to which the earnout relates has disappeared or has been disposed of.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pf.gagne-dube-fr
Tommy Gagné-Dubé
Depuis la fin de la Seconde Guerre mondiale, les accords successifs qui ont visé à assurer une meilleure coordination fiscale entre le Canada et les provinces en matière d'imposition du revenu ont eu pour effet d'augmenter l'autonomie fiscale des provinces. La mouture actuelle des Accords de perception fiscale (APF) offre une grande latitude aux provinces dans la conception de leurs politiques fiscales, bien qu'ils contiennent inévitablement des contraintes à l'autonomie fiscale provinciale. Ce sont ces contraintes qui sont examinées, notamment à l'aide de documents obtenus dans le cadre d'une demande d'accès à l'information. Sous l'angle des modalités de perception et d'administration par le gouvernement fédéral, les contraintes ne semblent pas insurmontables et, sur certains aspects, on note même une volonté du gouvernement fédéral de les amenuiser. Sous l'angle de la nécessité pour les provinces de préserver la similitude entre le régime provincial et le régime fédéral d'impôt sur le revenu, il n'apparaît pas y avoir de marge de manœuvre en ce qui concerne la base d'imposition commune, mais l'encadrement des modifications fédérales à cette même base mériterait d'être explorée. [Agrave] la lumière des contraintes examinées et de leurs solutions potentielles ainsi que de la tâche colossale que constitue la création d'une administration fiscale propre à la province, il apparaît difficilement justifiable de s'en retirer pour une province partie à ces accords.
{"title":"Policy Forum : Contraintes à l'autonomie fiscale des provinces découlant des Accords de perception fiscale","authors":"Tommy Gagné-Dubé","doi":"10.32721/ctj.2023.71.3.pf.gagne-dube-fr","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pf.gagne-dube-fr","url":null,"abstract":"Depuis la fin de la Seconde Guerre mondiale, les accords successifs qui ont visé à assurer une meilleure coordination fiscale entre le Canada et les provinces en matière d'imposition du revenu ont eu pour effet d'augmenter l'autonomie fiscale des provinces. La mouture actuelle des Accords de perception fiscale (APF) offre une grande latitude aux provinces dans la conception de leurs politiques fiscales, bien qu'ils contiennent inévitablement des contraintes à l'autonomie fiscale provinciale. Ce sont ces contraintes qui sont examinées, notamment à l'aide de documents obtenus dans le cadre d'une demande d'accès à l'information. Sous l'angle des modalités de perception et d'administration par le gouvernement fédéral, les contraintes ne semblent pas insurmontables et, sur certains aspects, on note même une volonté du gouvernement fédéral de les amenuiser. Sous l'angle de la nécessité pour les provinces de préserver la similitude entre le régime provincial et le régime fédéral d'impôt sur le revenu, il n'apparaît pas y avoir de marge de manœuvre en ce qui concerne la base d'imposition commune, mais l'encadrement des modifications fédérales à cette même base mériterait d'être explorée. [Agrave] la lumière des contraintes examinées et de leurs solutions potentielles ainsi que de la tâche colossale que constitue la création d'une administration fiscale propre à la province, il apparaît difficilement justifiable de s'en retirer pour une province partie à ces accords.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094330","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-01DOI: 10.32721/ctj.2023.71.3.pf.gonzalez
George Gonzalez
Brazil and Canada are among the 25 or so countries with a federal form of government, and two of only a few countries that grant taxation powers to their subnational governments. In addition to federalism, two other key similarities between Brazil and Canada are the size of their gross domestic product and their geographical scale. This article compares the countries' tax structures and describes Brazil's subnational taxation system, including its state and municipal subnational taxes.
{"title":"Policy Forum: Subnational Taxation—A Comparison of the Tax Systems of Brazil and Canada","authors":"George Gonzalez","doi":"10.32721/ctj.2023.71.3.pf.gonzalez","DOIUrl":"https://doi.org/10.32721/ctj.2023.71.3.pf.gonzalez","url":null,"abstract":"Brazil and Canada are among the 25 or so countries with a federal form of government, and two of only a few countries that grant taxation powers to their subnational governments. In addition to federalism, two other key similarities between Brazil and Canada are the size of their gross domestic product and their geographical scale. This article compares the countries' tax structures and describes Brazil's subnational taxation system, including its state and municipal subnational taxes.","PeriodicalId":474883,"journal":{"name":"Canadian tax journal","volume":"132 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136094331","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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