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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 2003
Volume 2, 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 on the information herein.

  • Introduction — The View from 37,000 Feet.
    By Michael Cadesky, FCA, TEP
    Cadesky and Associates LLP (Toronto)

    Somewhere between Northern Japan and Alaska, traveling at 600 miles an hour, the dawn finds me busily writing this introduction to Tax Perspectives. From here, the world seems a very small place. Borders vanish and the International Date Line we crossed...

  • Paying Yourself With Capital Gains
    By Kim Moody, CA, TEP
    Moodys LLP Tax Advisors (Calgary)

    In these economic times, capital gains are elusive, yet there is an easy way for business people to create them, and pay themselves at the same time. Traditionally, owner-managers have taken remuneration either by salary or by dividends. However, with...

  • Becoming Non-Resident
    By Allan Cruikshank, CA
    Cruikshank Associates (Montreal)

    It is common knowledge that the Canada Customs and Revenue Agency (the "CCRA") takes an aggressive view of who is a Canadian resident. If a person has ties to Canada, then that person may be considered resident, even though they may also have a tax...

  • Reasonable Expectation of Profit: The Demise — What's Next?
    By Michael Cadesky, FCA, TEP
    Cadesky and Associates LLP (Toronto)

    In the mid-1990s, the Canada Customs and Revenue Agency (the "CCRA") discovered a weapon previously seldom used. It was a weapon of devastation to taxpayers, particularly individuals who purchased syndicated investments. In one sweep, the CCRA could...

  • Charitable Bequests
    By Howard L. Wasserman, CA, CFP, TEP
    Cadesky and Associates LLP (Toronto)

    When an individual passes away, a final return must be prepared by April 30 following the year of death or six months after death, whichever is later. In that terminal return, the deceased taxpayer is able to claim donations made in the year and those...

  • Profile: Arnold Sherman, CA, TEP

    Based in Calgary, Arnold Sherman has one of the most extensive private tax libraries in Canada, if not the world. As a consulting editor and advisory board member for the International Bureau of Ontario Research Employee Stock Option Credit
    By Warren Smith, CA
    Cadesky and Associates LLP (Toronto)

    The Ontario Research Employee Stock Option Credit ("ORESO") is an Ontario tax incentive to reduce Ontario personal income tax. It applies to income and capital gains of employees arising from stock option benefits and capital gains on the sale of shares....

  • Incorporation For Professional Partnerships — Some New Ideas
    By Hugh Woolley, CA
    Lewis and Company (Vancouver)

    For decades, individual professionals practicing through large partnerships have struggled to achieve more tax efficient structures. Solutions have included the use of management companies and management limited partnerships. Rules requiring partners to...

  • In Brief
    By Howard L. Wasserman, CA, CFP, TEP
    Cadesky and Associates LLP (Toronto)

    FIE/NRT Rules ReleasedOn October 11, 2002, the revised legislation for foreign investment entities ("FIE") and non-resident trusts ("NRT") was released, effective for taxation years beginning after 2002. Most of the rules are similar...