Foreign Affiliates

Notice of Ways and Means Motion October 2018: T1134 Reporting Requirements More Lenient than Proposed in 2018 Budget

T1134 Reporting Requirements   Budget 2018 Proposal The Income Tax Act contains specific information reporting requirements in respect of foreign affiliates. In general terms, taxpayers (and certain partnerships) are required to file an information return each year in respect of each of their foreign affiliates in the year T1134). These returns contain, among other things, information about […]

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Notice of Ways and Means Motion October 2018: Foreign Affiliates

Foreign Affiliates   Budget 2018 Budget 2018 proposes modifications to the foreign affiliate rules as a result of the Government’s ongoing monitoring of developments in this area. A foreign affiliate of a taxpayer resident in Canada is a non-resident corporation in which the taxpayer has a significant interest. A controlled foreign affiliate of a taxpayer

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