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  • Posts by Gareth O. Williams
    Partner

    Gareth is a partner with our Tax Group.  He brings more than 10 years of tax experience to the group having worked at Deloitte & Touche LLP, PricewaterhouseCoopers LLP and as the Director of Tax for a private real estate company.    

    Gareth ...

Posted in Tax

The 2017 Federal Budget (the “Budget”) was released March 22nd, 2017 (“Budget Day”). Highlights include:

Upcoming Review of Private Corporate Tax Planning

 The Budget announced that the federal government will be looking into:

  1. Income sprinkling using private corporations: The Budget states that this strategy can reduce income taxes by causing income that ...
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Posted in Tax

Business

Corporate Tax Rate

The small business corporate income tax rate will be reduced from 2.5% to 2% effective April 1, 2017. This means that the combined Federal and Provincial tax rate for small business income, up to $500,000 per year, will be 12.5% in British Columbia (subject, of course, to any changes coming in the Federal Budget).

The Government projects this ...

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Posted in Tax

Introduction

In its recent decision in Minister of National Revenue v. BP Canada Energy Company, the Federal Court of Canada considered the Minister’s ability to compel BP to provide its tax accrual working papers pursuant to the Minister’s inspection powers in subsection 231.1(1) of the Income Tax Act. The decision in favour of the Minister signals a ...

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Posted in Tax

The BC Budget (tabled on February 17, 2015) contained no major announcements and no general corporate or personal tax rate changes. Nonetheless, it provides opportunity for personal tax planning for high rate tax payers, and extends useful assistance to early stage businesses in BC.

Personal

The combined top rate of BC tax is 45.8% (16.8% of BC tax + 29% of Federal tax). The ...

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Tags: BC Budget, Tax
Posted in Tax

On September 26, 2013 the Supreme Court released its decision in the Envision[1] case. The case deals with the amalgamation of two credit unions, but has broader implications for the tax treatment of amalgamations in Canada, and will be of interest to Canadian corporations contemplating a merger in the future.

In 2001, two BC credit unions amalgamated to form Envision. The ...

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