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Tax Perspectives

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Please note that these publications may not be up-to-date as taxation matters are subject to frequent changes.


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Winter 2007
Volume 7, Number 1

The information in Tax Perspectives is prepared for general interest only. Every effort has been made to ensure that the contents are accurate. However, professional advice should always be obtained before acting and TSG member firms cannot assume any liability for persons who act on the basis of information contained herein without professional advice.


Introduction

By Michael Cadesky, FCA, TEP
Cadesky and Associates LLP (Toronto)

This latest edition of Tax Perspectives contains a wide range of articles. It begins with a quick summary of the tax changes we have seen in 2006, and what may be expected in the March, 2007 Federal Budget. Then, Thomas Lee, of Hong Kong, looks at tax reform in China.

Robert Rinninsland, of the Ruchelman law firm, New York, outlines his thoughts on U.S. tax developments in 2007. Manu Kakkar, of Kakkar and Associates, a new member of TSG, outlines the rules that apply to breaking up a corporation and dividing its assets among its shareholders. As he points out, it is much easier to transfer assets into a corporation than to get them out again afterwards.

Darrel Pearson addresses customs duty and ways to save it. Lastly, Howard Wasserman outlines certain tax developments in his In Brief column.

TSG continues to grow and expand. The group held its 7th National Conference in Edmonton in early February, attended by 30 tax specialists from across Canada and internationally. TSG members practise independently, but have access to the expertise of other members in the group in specialized areas. This ranges from international tax planning to customs duty, from GST matters to tax litigation, as well as specialized Canadian income tax areas such as butterfly reorganizations, R&D tax credit claims, and sophisticated estate planning techniques.