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This comprehensive webinar covers the essentials of personal and corporate income tax. Partnerships, trusts, the Goods and Services Tax (GST) and other federal taxes are also discussed. There are many examples to help make complex tax law understandable.

Features

This webinar includes proposed changes announced in the November 21, 2024 GST holiday announcement and the April 16, 2024 federal budget. The following topics, among others, are covered:

1. Separate legal entities and residence

2. Employee ownership trusts (EOTs) and alternate minimum tax (AMT)

3. Employment income including stock options and RRSPs

4. Business income, capital cost allowance (CCA) and the 2 accelerated investment incentives

5. GST, Digital Services Tax (DST), Luxury Tax, Vacant Homes Tax and the Tax on Share Buybacks

6. Property income including shareholder loans and the tax on split income (TOSI)

7. TFSAs, First Home Savings Accounts (FHSAs), some tax credits and property flippers

8. Capital gains and the changing capital gains inclusion rates

9. Principal residence exemption and the capital gains exemption

10. Corporate taxation including refundable taxes and the capital dividend account

11. Paid-up capital and share redemptions

12. Section 85 and other tax-free rollovers, amalgamations and wind-ups

13. The general anti-avoidance rule (GAAR), GAAR changes and reporting various transactions

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EIFEL Rules Overview

Definition of Excessive Interest and Financing Expenses Limitation
Regulatory framework introduced by Canadian Department of Finance
Impact on corporate tax deductions and financial reporting

Global Minimum Tax Act (GMTA) Highlights

Key provisions of the August 4, 2023 update
International tax compliance requirements
Implications for multinational corporations operating in Canada

Practical Implicat