MNP Tax Articles
Are you looking for key resources to help you grow? Our articles provide you with valuable information on a wide range of taxation issues. To access these articles simply click on your area of interest in the navigation panel to the left.
Several amendments to the employee stock option rules under the Income Tax Act that were originally proposed in the March 4, 2010 federal budget have recently been enacted and have effect as of March 4, 2010. These amendments mainly affect publicly listed companies and their employees.
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Effective July 1, 2010, B.C.’s and Ontario’s Provincial Sales Tax (PST) will be eliminated and replaced by the HST. From this date forward, sales of goods, services, certain real property and intangibles “supplied” in B.C. will be taxed at 12% HST.
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In July, Ontario will be harmonizing its Provincial Sales Tax with the federal Goods and Services Tax. Here are some of the things that Ontario municipalities should consider as the countdown to harmonization gets underway.
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The announcement in July by the Federal and BC governments was unexpected, since there was no indication that BC was moving in that direction. In fact, during the May 2009 provincial election, the BC government had stated that we would not be moving to a Harmonized Sales Tax system. The proposed change has raised a furor among certain taxpayers and in certain industries, such as the restaurant industry, since the HST will have a more significant effect on them.
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The BC government recently announced their plans to harmonize their sales tax with the federal GST effective July 1, 2010. While harmonization has its benefits, there are some issues to be aware of. Here’s what you need to know.
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With recent announcements from the provincial governments of Ontario and B.C. touting the merits of harmonizing their respective sales tax with GST, many businesses are asking what this ultimately means for them.
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