Ryan Talks Tax Jim Day

In Episode 22, Clyde Seymour joins us to discuss significant changes to the mandatory disclosure rules for Canadian income tax purposes. With the new rules in place for reportable and notifiable transactions after June 22, 2023, and for tax years beginning after 2022 for reportable uncertain tax treatments, taxpayers and their advisors should be aware of the enhanced reporting requirements.

Clyde comments on why the federal government decided to enhance the mandatory disclosure rules, explains the difference between reportable and notifiable transactions, and clarifies what constitutes a reportable uncertain tax treatment. We also review the deadlines for the new reporting requirements and discuss the substantial penalties in place for non-compliance.

In Episode 21, we learn more about Ryan TaxDirect®, the unique client support service available exclusively to Ryan clients. Jeffrey Shaw and Irene Belvedere provide an overview and discuss the benefits of this service, from getting timely answers to sales tax questions to helping manage an organization’s audit.

Our guests describe how Ryan TaxDirect® allows clients to directly access a dedicated team of seasoned tax professionals to quickly confirm tax rules, rates, and factors, validate audit findings, and determine the relevance of tax authority publications. They also explain why an internet search is not the best way to resolve your tax concerns.

In Episode 20, we learn about Canada’s Underused Housing Tax (UHT). Introduced in the 2021 federal budget, this new tax on certain residential housing in Canada came into effect for 2022, with the first returns and remittances due in 2023. Jeffrey Shaw and Lisa McIntosh offer their insights on why the UHT has flown under the radar of many owners and what the government hopes to accomplish through its implementation.

In Episode 19, we discuss significant tax changes and government funding announcements included in the 2023 federal budget.

Key topics include:
· Insights on commodity tax changes
· Update on the status of SR&ED tax credit program
· New investment tax credits for clean technology
· Proposed funding plans

Episode 18 is Part II of our annual Canadian Provincial Budget Roundup, in which we discuss some of the most significant tax changes and government funding announcements included in the 2023 budgets for Saskatchewan, Ontario, Quebec, Nova Scotia, New Brunswick, and Newfoundland and Labrador.

Episode 17 is Part I of our annual Canadian Provincial Budget Roundup, where we discuss the most significant tax changes and government funding announcements included in the 2023 Manitoba, Alberta, and British Columbia budgets.