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Nova Scotia Budget 2008
Ryan Tax Alert
On April 29, 2008, in Halifax, Finance Minister Michael Baker presented a cautious 2008-2009 budget containing relatively modest spending initiatives and somewhat meager tax relief. However, the province’s seventh consecutive balanced budget does include one significant commodity tax change. (more)
Newfoundland and Labrador Budget 2008
Ryan Tax Alert
On April 29, 2008, in St. John’s, the Honourable Thomas Marshall, Minister of Finance, presented Newfoundland and Labrador’s 2008 budget. Bolstered by soaring oil prices, the province is forecasting its second consecutive budget surplus, with spending increases earmarked for health care, education and debt reduction. However, the budget for the current year includes only one significant commodity tax change. (more)
Alberta Budget 2008
Ryan Tax Alert
Finance and Enterprise Minister Iris Evans tabled the 2008 Alberta Budget on April 22, 2008. Fueled by record oil prices, the province’s 15th consecutive balanced budget provides for $37 billion in spending and focuses primarily on five key commitments made during the last provincial election: delivering more efficient and effective health care; protecting the environment and promoting responsible energy development; improving infrastructure in response to the province’s tremendous growth; broadening Alberta’s economy; and ensuring safe, strong and vibrant communities. (more)
Ontario Budget 2008
Ryan Tax Alert
On March 25, 2008, Minister of Finance Dwight Duncan presented the 2008 Ontario budget. The McGuinty government’s fifth budget focuses primarily on investment in skills and training, lowering business costs, and improving education, health care, support for families and infrastructure. Several interesting commodity tax changes were also announced. (more)
Quebec Budget 2008
Ryan Tax Alert
On March 13, 2008, Minister of Finance Monique Jérôme-Forget tabled Quebec’s 2008-2009 budget. A prudent and disciplined proposal, the balanced budget revises forecasted economic growth in 2008 to just 1.5 per cent, and contains relatively modest spending initiatives designed to bolster health care, education, sustainable development, and support for families and seniors. (more)
Department of Finance News Release: 2008 Automobile Deduction Limits and Expense Benefits Rates for Business
Tax Highlight
The Minister of Finance has announced the automobile expense deduction limits and the prescribed rates for automobile operating expense benefits that will apply for the 2008 taxation year. Specifically, the rates in effect will be as follows:
The capital cost allowance limit for passenger vehicles purchased in 2008 will remain at $30,000, plus applicable federal and provincial sales taxes. This results in a maximum allowable input tax credit of $1,500 for GST paid (or $3,900 for HST paid) for a passenger vehicle acquired in 2008. (more)
Robert Brakel & Associates Is Now Ryan, Offering Canada the Most Complete Suite of Integrated U.S. and Canadian Tax Services Available.
Press Release - October 22, 2007
Dallas, Texas – Ryan, the leading tax services firm in North America, with the largest transaction tax practice in the United States and Canada, today announced that it has fully integrated the Canadian operations of Ontario-based Robert Brakel & Associates and will now be operating under a single company name and brand.
Ryan will maintain its detailed local knowledge with the existing management team, consulting and client support staff that made Robert Brakel & Associates the leading Canadian sales tax consulting firm for more than three decades. (more)
Ryan Sales Tax Review™,
December 2007
Tax Highlight
The current issue of the Ryan Sales Tax Review™ has recently been published. Our quarterly sales tax journal provides a timely and practical in-depth analysis of current sales tax issues with an emphasis on compliance issues and recent tax changes.
In addition to our course calendar of upcoming sales tax training courses and a sampling of the questions we receive from our clients on our TaxDirect line, this issue also contains several commodity tax articles of interest: (more)
2007 Federal Economic Statement
Ryan Tax Alert
On October 30, 2007, Finance Minister Jim Flaherty presented the 2007 Economic Statement for Canada. Relying on Canada’s economic and fiscal fundamentals being “as solid as the Canadian shield”, the mini-budget included an extensive package of tax reductions designed to stimulate investment, fuel job creation and further strengthen the economy. The proposed tax relief includes significant personal and corporate
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2008 Federal Budget
Ryan Tax Alert
On February 26, 2008, Finance Minister James Flaherty presented Canada’s 2008 Federal Budget. The Conservatives’ minority government has tabled its third consecutive balanced budget that promises “responsible leadership for uncertain times” and vows to maintain strong fiscal management by spending carefully, strengthening our tax advantage, investing in the future, supporting communities and providing leadership both at home and abroad. (more)
Prince Edward Island Budget 2008
Ryan Tax Alert
Provincial Treasurer Wesley J. Sheridan tabled the 2008-2009 Prince Edward Island Budget on April 23, 2008 – one day later than planned thanks to an Opposition member’s lengthy response to the Speech from the Throne. This year’s budget focuses primarily on investing in people, with an emphasis on five strategic priorities: providing sustainable health care; giving Islanders better access to high-quality education; protecting the environment; improving the delivery of social service programs; and taking advantage of new economic opportunities. (more)
Newfoundland and Labrador Tax on Insurance
Ryan Tax Alert
While an official date for tabling the 2008 Newfoundland and Labrador Budget has yet to be released, Premier Danny Williams announced today that his government will eliminate the province’s 15 per cent retail sales tax on insurance premiums. This change, effective immediately, will be retroactive to January 1, 2008. Consequently, insurers will be required to refund any tax collected on new contracts and renewals purchased on or after January 1, 2008 and then apply to the Department of Finance to recover amounts refunded. (more)
Manitoba Budget 2008
Ryan Tax Alert
On April 9, 2008, Minister of Finance Greg Selinger presented the 2008 Manitoba Budget. “The Opportunity and Stability Budget” focuses primarily on investing in the health care system; protection of the water and environment; providing tax relief for families, graduating students and businesses; increasing funding to make communities safe; and a commitment to invest in the province’s infrastructure. This year’s budget claims to continue Manitoba’s tradition of providing long-term tax relief. However, only a few significant commodity tax changes were announced. (more)
Saskatchewan Budget 2008
Ryan Tax Alert
On March 19, 2008, Minister of Finance Rod Gantefoer presented the 2008-2009 Saskatchewan budget. The province’s 15th consecutive balanced budget – and the first tabled by the new Saskatchewan Party government – focuses primarily on preparing for sustained economic growth, including the announcement of $1 billion in spending initiatives for improvements to infrastructure, health care and education. (more)
British Columbia Budget 2008
Ryan Tax Alert
On February 19, 2008, British Columbia Finance Minister Carole Taylor presented Balanced Budget 2008. This year’s budget focused primarily on addressing climate change issues, and included the highly anticipated introduction of a carbon tax, as well as several other climate action programs and tax incentives designed to promote green initiatives. In keeping with the trend in British Columbia over the past few years, many of the proposed environmental measures will take the form of commodity tax changes. (more)
New Brunswick Budget 2008
Ryan Tax Alert
Finance Minister Victor Boudreau delivered New Brunswick’s 2008-2009 budget on March 18, 2008. The balanced budget focuses primarily on increased spending for health care, education, social services and investment in infrastructure.
No new taxes or tax increases were introduced in this year’s budget. (more)
Important Changes for Financial Institutions and Pension Plans Proposed
February 2007
Ryan Tax Alert
On January 26, 2007, the Department of Finance released draft legislation, explanatory notes and a backgrounder detailing important changes proposed to the application of GST/HST to financial institutions and pension plans, including:
• new input tax credit (“ITC”) allocation methods for financial institutions (“FIs”);
• new rules for imported supplies by FIs;
• enhanced reporting requirements for FIs; and
• a new GST/HST rebate for pension plan trusts.
• (more)
Ryan Offers New Web-Based Sales Tax Training Programs
Press Release - March 8, 2007
Brampton, Ontario – Ryan, North America’s leading choice for Canadian sales tax recovery and support, announced today the addition of four new web-based training modules to their comprehensive Ryan Training™ program.
The new modules cover four important areas necessary to properly manage tax issues for companies doing business in Canada. (more)
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