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NAFTA

NAFTA

Life After NAFTA: Some Predictions

The fifth round of NAFTA negotiations finished in Mexico City last week. At the end of the talks, Canadian Foreign Affairs Minister, Chrystia Freeland, stated that several stumbling blocks remained in the ongoing talks, including the U.S’ continued insistence on a five-year sunset clause and stiffer content rules for the auto sector. With major differences remaining unresolved, there is doubt as to whether a deal can be reached by the end of March 2018 as… Read More

PayPal

Corporate Tax Planning

CRA Plans to Use PayPal to Find Businesses That Underreport Income

The Canada Revenue Agency (CRA) continues to crack down on businesses that are not reporting all their income and is seeking help from mobile payment companies, including PayPal. Earlier this month, PayPal received a Federal Court Order requiring the company to disclose information to the CRA about PayPal Business account holders who have sent or received a payment through their accounts between January 1, 2014 and November 10, 2017. PayPal has 45 days from… Read More

NAFTA negotiations

NAFTA

NAFTA Negotiations Resume This Week for Fifth Round of Talks

After a month away from the negotiating table, NAFTA talks resumed this week for the fifth round of deliberations. The most recent round began today in Mexico City and was focused on technical discussions, with more fulsome negotiations to begin Friday and last until November 21st. This session is expected to review smaller elements of NAFTA but leave the most high-profile and contentious U.S. demands for later rounds. For the first time, no Cabinet-level… Read More

Estate tax

Personal Tax Planning

The Republican Plan to Eliminate Estate Tax: What Does It Mean for Canadians?

Last week, we blogged about the introduction of the Tax Cuts and Jobs Act (the Act) by the House Republicans and outlined some key changes that may be pending to both corporate and personal income tax in the U.S. One of the major proposed changes that would affect personal tax planning would be the elimination of the estate tax. Clearly, this may result in significant changes for U.S. residents, but what is the potential… Read More

Tax

Corporate Tax Planning

The Tax Cuts and Jobs Act: What You Need to Know

After months of discussion, the Republicans in the House of Representatives released the Tax Cuts and Jobs Act on November 2, representing a first attempt at legislating some of the previously proposed reforms. While the Act will likely go through several changes before it becomes law, this marks a significant step forward in attempting to enact tax reform prior to the end of 2017. The Tax Cuts and Jobs Act The Act, authored by… Read More