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Conference

6 October 2017 APFF Roundtable Q. 1, 2017-0708971C6 F - Inactive Corporations & subs. 162(7) ITA

TABLE RONDE SUR LA FISCALITÉ FÉDÉRALE DU 6 OCTOBRE 2017 APFF- CONGRÈS 2017 Question 1 Défaut de production et société inactive L’an dernier, lors du Congrès de l’APFF, l’Agence du revenu du Québec ARQ ») s’était vue poser la question suivante: Il est fréquent qu’une société inactive et n’ayant aucun impôt à payer soit en défaut de produire. ... Réponse de l’ARC à la question 1a) En vertu de la division 150(1)a)(i)(A) de la Loi de l’impôt sur le revenu, L.R.C. (1985), ch. 1 (5e suppl.) L.I.R. ») une société résidente du Canada doit, sans égards au fait qu’elle ait ou non des activités commerciales ou de l’impôt à payer au cours d’une année d’imposition, produire une déclaration de revenus (une « T2 ») pour cette dite année d’imposition, tel qu’il est mentionné dans le document T4012, Guide T2 Déclaration de revenus des sociétés. ... Il est à noter qu’une société se qualifiant à titre de société privée sous contrôle canadien SPCC ») qui a un revenu net pour l’année, aux fins de l’impôt sur le revenu, égal à zéro ou une perte nette peut produire une déclaration T2 abrégée (formulaire T2 Short F) si certaines autres conditions sont remplies (à ce sujet, voir les instructions relatives à ce formulaire et le document T4012, Guide T2 Déclaration de revenus des sociétés). ...
Old website (cra-arc.gc.ca)

Canada Revenue Agency Ministerial Transition Documents – November 2015

Canada Revenue Agency Ministerial Transition Documents November 2015 Next page Note to Readers The briefing documents listed below were prepared for the Minister of National Revenue. ... Table of Contents Section 1 Welcome Commissioner's letter to the Minister Contact list Short-term decisions Floor plan *+ Minister briefing plan Section 2 Roles and Responsibilities Role of the Minister and Ministerial support Communications and issues management How the Federal government works: An overview * Open and Accountable government * CRA's Board of Management Section 3 Introduction to the Canada Revenue Agency (CRA) Agency Overview Canada Revenue Agency at a Glance * Senior management contact list Biographies Chair of the Board of Management Commissioner of Revenue and Chief Executive Officer of the Canada Revenue Agency Deputy Commissioner of the Canada Revenue Agency Taxpayers' Ombudsman Partnerships and stakeholders Taxpayers' Ombudsman overview * Expenditure management cycle and CRA budget * Service to Canadians Compliance Collections Appeals Corporate Safeguarding taxpayer information Oversight Section 4 Immediate Decisions Treasury Board business * Delegations Message to employees Federal budget A CRA perspective * Section 5 Government Overview Role of central agencies Section 6 CRA Litigation Forecast *+ Section 7 Issues Supporting small and medium businesses * Better service to Canadians * Estimating the magnitude of non-compliance (Tax gap) * Tobacco compliance and contraband * Underground economy * Foreign Account Tax Compliance Act (FATCA) * International collaboration on tax avoidance * Rules for charities related to political activities * Collective bargaining * Bill C-377 Requirements for labour organizations * Disability Tax Credit promoters * Ontario Retirement Pension Plan * Robillard Commission Report * Overview of recent reduction exercises and major long-term funding pressures * Quebec: GST compensation * British Columbia and Ontario housing market * *Documents under review *+ Documents protected pursuant to the Access to Information Act Next page Date modified: 2016-03-08 ...
Administrative Letter

28 February 1992 Administrative Letter 9121226 F - Cost of Capital for M & P After 85(1) Rollover

28 February 1992 Administrative Letter 9121226 F- Cost of Capital for M & P After 85(1) Rollover Unedited CRA Tags ITR 5202, 85(1)   February 28, 1992 Application Opinions Merchandising, Manufacturing,   Section Partnerships and Trusts     Section Attention:  Sudev Basuroy G. Kauppinen 957-4363 912122 Cost of Capital for M & P This is in reply to your memorandum dated August 1, 1991 wherein you request our opinion as to the meaning of "cost of capital" for the Manufacturing and Processing Profits calculation in the following circumstances. 1.     Corporation A acquires Class 12 assets (the "assets") and claims 100% capital cost allowance thereon. 2.      ...
Current CRA website

Part XIX Information Return – International Exchange of Information on Financial Accounts

The possible values are: OECD202 = individual OECD203 = alias OECD204 = nick name OECD205 = also known as OECD207 = legal OECD208 = at birth <FirstName></FirstName>- Required, 30 characters- Enter the first name of the individual. ... The possible values are: OECD202 = individual OECD203 = alias OECD204 = nick name OECD205 = also known as OECD207 = legal OECD208 = at birth <FirstName></FirstName>- Required, 30 characters- Enter the first name of the controlling person. ... </ControllingPersonBirthInformation> <ControllingPersonType></ControllingPersonType>- Required, 6 alphanumeric- Enter one of the following codes to describe the controlling person type: CRS801 = Direct owner of a corporation or other legal person CRS802 = Indirect owner of a corporation or other legal person (through an intermediary) CRS803 = Director or senior official of a corporation or other legal person CRS804 = Settlor of a trust CRS805 = Trustee of a trust CRS806 = Protector of a trust CRS807 = Beneficiary of a trust CRS808 = Other controlling person of a trust CRS809 = Equivalent to a settlor of a legal arrangement other than a trust (e.g., partnership) CRS810 = Equivalent to a trustee of a legal arrangement other than a trust (e.g., partnership) CRS811 = Equivalent to a protector of a legal arrangement other than a trust (e.g., partnership) CRS812 = Equivalent to a beneficiary of a legal arrangement other than a trust (e.g., partnership) CRS813 = Other controlling person of a legal arrangement other than a trust (e.g., partnership) </ControllingPerson> </Organization> <AccountHolderAddress> <Address>- Note: The information within the tag <Address> is repeatable up to 5 times as needed. ...
Current CRA website

Motor vehicle leasing costs – employees

Enter the amount from line 4 or line 5, whichever is more. $ Blank space for dollar value x 85% $ Blank space for dollar value Line 6 7. ($1,050 Footnote 3 + GST Footnote 2 and PST Footnote 2, or HST Footnote 2) x line 3 = $ Blank space for dollar value ÷ 30 = $ Blank space for dollar value Line 2 $ Blank space for dollar value Line 7 8. ($37,000 Footnote 4 + GST Footnote 2 and PST Footnote 2, or HST Footnote 2) x line 1 = $ Blank space for dollar value ÷ Line 6 $ Blank space for dollar value Line 8 Your eligible leasing cost is the lower of the amounts on line 7 and line 8. ... Tom will complete the Chart using the following information for 2024: Monthly lease payment: $500 Lease payments made for 2024: $5,500 Number of days the car was leased in 2024: 335 Manufacturer’s suggested list price: $28,000 HST ($43,529 × 15% = $6,529) = $6,529 HST ($1,050 × 15% = $158)= $158 HST ($37,000 × 15% = $5,550) = $5,550 Eligible leasing costs for passenger vehicles leased after December 31, 2000 Line Leasing agreement information and calculations Amount 1. ... Enter the amount from line 4 or line 5, whichever is more: $50,058 x 85% $42,549 7. ($1,050 + $158 = $1,208) x 335 = $404,680 ÷ 30 = $13,489 line 2 $13,489 8. ($37,000 + $5,550 = $42,550) x $5,500 = $234,025,000 ÷ $42,549 $ 5,500 Repayments and imputed interest When you lease a passenger vehicle, you may have either a repayment owing to you, or you may have imputed interest. ...
Technical Interpretation - External

13 November 2014 External T.I. 2014-0535041E5 F - Bien de remplacement – Location d'immeubles

XXXXXXXXXX Cynthia Lynch, LL.B, M.Fisc 2014-053504 Le 13 novembre 2014 Objet: Bien de remplacement – Location d'immeubles Monsieur XXXXXXXXXX, La présente lettre est en réponse à votre courriel du 3 juin 2014, dans lequel vous nous demandez notre avis quant à savoir si XXXXXXXXXX chalets locatifs acquis à même le produit d'assurance reçu lors de la destruction d'un immeuble locatif ancien bien ») constituent des « biens de remplacement » de l'ancien bien, au sens du paragraphe 44(5) de la Loi de l'impôt sur le revenu Loi »). ... Faits Vous nous décrivez une situation où un couple les contribuables ») détenait plusieurs immeubles locatifs en indivision dont l'un d'entre eux a été complètement détruit par XXXXXXXXXX en XXXXXXXXXX. ... Quant à l'alinéa 44(5)a.1), il exige plutôt que les contribuables utilisent les nouveaux biens qu'ils ont acquis, pour un « usage semblable ou identique » à l'usage qu'ils faisaient de l'ancien bien. ...
Technical Interpretation - External

4 November 2002 External T.I. 2002-0158885 F - Alloc. of Safe Inc. & Disc. Div. Shares

Pour ce faire, les opérations suivantes seraient effectuées. c) Messieurs A et B procéderaient chacun à la création d'une société de gestion (ci-après " GESCO A " et " GESCO B "). ... La détermination du revenu protégé en main afférent à des actions d'une société donnée est fondée sur le droit de ces actions de participer dans le revenu protégé de la société et est fonction de la " période de détention " desdites actions. ... En général, une action possédée par un actionnaire d'une société ne peut participer au revenu protégé en main que durant la " période de détention " relative à l'action donnée. ...
Ruling

19 November 1990 Ruling 90M12293 F - SR & ED Capital Assets

19 November 1990 Ruling 90M12293 F- SR & ED Capital Assets Unedited CRA Tags 2900(2)(b)   November 19, 1990 TO: FROM: Brian Dath 957-2089 C. Lamarche 952-3881 Director, Rulings     Re:  Scientific Research Audit Application Please deliver immediately. ... In such a case, the employee indirectly supports the SR & ED activities. ...
GST/HST Interpretation

3 July 2013 GST/HST Interpretation 146888 - [...] [administration of second-language tests] [whether a vocational school]

("teacher training") [...]. [...]. In [yyyy], Co. A added the [...] ... Language Test The language test is recognized [internationally] [...]. The language test is [...] owned by [...] ... B. [...]. [...]. Co. B is not a registered charity or a non-profit organization. ...
Current CRA website

Electronic filing of information returns – Common errors

The XML specifications provide the following formatting requirements: <cntc_phn_nbr></cntc_phn_nbr> Contact telephone number- Required, 3 numeric with a (-), followed by 4 numeric.- Telephone number of the contact The field is required, and must be 3 numeric, followed by a hyphen (-), followed by 4 numeric. ... Common Errors T619, Electronic Transmittal Record Mandatory information that is missing or invalid within a T619 will result in the entire submission being rejected. ... Example: "John Smith & Sons" will be entered as: "John Smith &amp; Sons" The following are the acceptable special characters for the respective fields: Acceptable special characters for the respective fields Field Special Characters All Financial fields period (.) comma (,) Financial fields (negative amounts only) hyphen (-) Filer Name hyphen (-) period (.) ampersand (&) apostrophe (‘) quotation marks (“) comma (,) slash (/) number sign (#) parenthesis (()) Filer Address (Address Lines 1 and 2; City) hyphen (-) period (.) ampersand (&) number sign (#) comma (,) apostrophe (') space Postal Code hyphen (-) space Contact Information (Filer Contact Name) hyphen (-) period (.) ampersand (&) apostrophe (‘) quotation marks (“) comma (,) slash (/) number sign (#) parenthesis (()) Recipient Name (Surname or Given Name) hyphen (-) period (.) ampersand (&) apostrophe (') space Recipient Business Name hyphen (-) period (.) ampersand (&) apostrophe (‘) quotation marks (“) comma (,) slash (/) number sign (#) parenthesis (()) Recipient Address (Street Address lines 1 and 2 and City) hyphen (-) period (.) ampersand (&) number sign (#) comma (,) apostrophe (') Page details Date modified: 2025-03-13 ...

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