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Specified future tax consequences For instalment calculations, the tax payable for a tax year is the total tax payable for the year before taking into consideration the specified future tax consequences for the year [Regulation 5301(10)]. ...

Participants had the opportunity to share their views on: Current practices, challenges, and opportunities regarding income verification practices in Canada Opportunities, considerations, and the need for a potential new income verification tool The CRA also sought broader input from other interested and affected parties within the industry through an online questionnaire CRA service consultations 2024 Closed Individuals; Newcomers; Youth; Seniors; Tax intermediaries Sep 25, 2024 to Dec 13, 2024 The CRA launched public consultations with individuals, non-professional representatives, and tax intermediaries to hear about their recent service experiences with the CRA, and to help inform future service improvements. ...

To fulfill its mandate, the Committee will: 3.3 Financial Statements Review financial information, and management’s certifications of it, in the annual Financial Statements – Agency Activities, and – Administered Activities, and other financial reports to determine whether the statements are materially accurate, and when appropriate, recommend their approval to the Board; Review the quarterly financial reports (QFR) of the Agency prior to their online publication; and Review with management changes to accounting policies, disclosures, practices, key estimates and judgements to determine whether they are fair, accurate and prudent. 3.4 Financial Reporting Review and discuss with management the Quarterly Resource Management Report; Review and discuss with management the Annual Resource Alignment Plan (ARAP); Review and discuss with management the CRA’s procurement activities, including the annual procurement (contracting) report; Review and discuss with management any actual or anticipated contingent liabilities, write-offs, bad debts, doubtful accounts and unpaid taxes which could have a material current or future effect on the Agency’s financial statements, and the manner in which these have been disclosed in the financial statements; and The Chair and the Vice-Chair to meet quarterly with the CFO and update the Committee as appropriate. 3.5 Internal Controls Review and assess the adequacy and effectiveness of the Agency’s internal control environment and reporting systems by monitoring and reviewing corporate policies related to financial reporting and reviewing with the CFO and the AC-CAE management’s philosophy with respect to internal controls and all significant control-related findings; and Receive advice from the Board committees with respect to the internal controls that are related to their mandates to assist the Audit, Finance and Risk Committee in its oversight of the Agency’s overall internal controls in an integrated manner. 3.6 Internal Audit Function Review and discuss with the AC-CAE the Risk-Based Assurance and Advisory Plan (RBAAP), including objectives, scope, value-add, and timing, at least once annually and recommend the RBAAP to the Board for approval; Review and discuss with the AC-CAE the Internal Audit Policy and the Evaluation Policy and recommend them to the Board for approval; Review the external independent assessments of the internal audit and evaluation functions, at least every five years; Review the Quality Assurance and Improvement Program (QAIP), including the results of internal and external assessments, at least annually; Review final reports of the internal audit and evaluation engagements, including recommendations, action plans, the value-add, and management’s response on any issues identified, and, if deemed appropriate, recommend them to the Commissioner for approval; Review, monitor the progress, and make recommendations to the Agency on Management Action Plans (MAPs), and corresponding timelines (or any subsequent changes to the MAPs or associated timelines) which are developed in response to internal audit and evaluation reports by the AC-CAE, the OAG, or any other external audit and evaluation reports and decide which Board committee will monitor the MAPs; Review the Audit, Evaluation and Risk Branch (AERB) strategic plan on an annual basis and monitor the performance objectives and the extent to which they are being met: Review the AC-CAE Annual Report; Review, periodically, the Audit, Finance and Risk Committee's relationship with the AERB; Discuss the AC-CAE’s performance and independence at least annually with the Commissioner of the Agency; Meet regularly with the AC-CAE in the absence of management and the OAG to review and discuss the CAE’s independence and any matters of concern; and During the AC-CAE appointment, deployment, replacement, or departure process, the Chair of the Audit, Finance and Risk Committee will be consulted by the Commissioner. 3.7 Enterprise Risk Management (ERM) Review with management and the OAG, the identification and assessment of any significant financial risks to the Agency; Receive regular updates from management on the Corporate Risk Profile (CRP) which identifies the principal risks, including emerging risks, to which the Agency is exposed; Assess the quality, adequacy and timeliness of risk-related information provided by management to ensure the Committee has the information needed to oversee and evaluate the Agency’s risks, and management’s strategies for managing those risks; Review the Agency’s ERM Policy and recommend it to the Board for approval; Receive advice from the Board committees with respect to risk management that is related to their mandates to assist the Committee in its oversight of the Agency’s overall risk profile and risk exposure in an integrated manner. 3.8 Fraud Respond annually to the OAG fraud questions confirming if the Audit, Finance and Risk Committee and the Board members have knowledge of any instances of fraud or error affecting the Agency and recommend it to the Board for approval; Review CRA's comprehensive report of suspicious activities and internal and external fraud and resolutions at least semi-annually; Review significant suspicious activities and internal and external fraud that may affect financial reporting and disclosure at least annually; Review all significant fraud matters as they may arise from time to time within CRA; Ensure sufficient procedures are in place to receive and manage complaints or concerns received by the Agency about accounting, internal accounting controls and audit matters including those submitted anonymously by employees of the Agency, and receive periodic reports on such procedures, and complaints, and concerns received; Periodically review the sufficiency of internal controls related to fraud, and any significant deviations from them, with the AC-CAE, the Agency Security Officer, the CFO, and the OAG; Review the annual report to the Treasury Board Secretariat on internal disclosures within the CRA, as well as any other reports that the CRA’s Senior Officer for Internal Disclosure may provide to the Committee, to ensure procedures regarding internal disclosure are being followed in accordance with the provisions of the Public Servants Disclosure Protection Act; and Review the plans of the AERB, the Finance and Administration Branch and the OAG to determine whether the combined evaluation and testing of internal financial controls is comprehensive and coordinated. 3.9 Compliance Review and, when appropriate, make recommendations to the Board on the Agency’s compliance with financial legislation, regulations, and policies. 3.10 Office of the Audit General of Canada (OAG) Review with the OAG the areas of special emphasis to be addressed in the planned audits, the materiality levels which the OAG proposes to employ, and other issues which are appropriate in the view of the Committee or the OAG; Review the OAG’s reports on the audited financial statements of the Agency, and any other audits or assessments pertaining to the Agency performed by the OAG and, when appropriate, make recommendations to the Board; and The Chair and Vice-Chair of the Committee and the Board Chair meet with the OAG in the absence of management on a quarterly basis to discuss specific issues and significant matters that the OAG may wish to bring to the Committee for its consideration. 3.11 Integrity, Values, Ethics Footnote 1 Alert the Board Chair and/or Commissioner to any matters related to the integrity of senior Agency officials and assure that the appropriate steps are taken to investigate and address the conduct in question. 3.12 Accountability Develop an Audit, Finance and Risk Committee work plan on an annual basis, identifying priorities and objectives; Review the charter annually and make a recommendation to the Governance and Service Committee for Board approval; and Undertake any other duties the Board may delegate to the Committee. 4. ...

In general, persons who make taxable supplies of property or services in Canada are required to charge and collect the GST/HST at the applicable rate (based on the province in which the supply is made) on the consideration for those supplies. ...

As part of this plan, we are also including accessibility considerations in all future projects related to the built environment, such as modernizing furniture solutions with accessibility features. ... The plan will take into consideration the priority areas highlighted through consultations with persons with disabilities. ... As well, we reviewed the training materials for acquisition card holders and cost centre managers and identified ways to include more accessibility considerations. ...

Where this is the case, only the fruit juice content is taken into consideration when determining whether the 25% by volume threshold has been met. ... Although we consider placement of a product in store aisles as a relevant consideration, it alone is not considered a determinative factor. ... The consideration paid by the customer is based on a per person or per serving charge. ...

Any amount paid or credited to a non-resident in consideration for the non-resident's agreeing to guarantee, in whole or in part, the principal amount of an obligation of a resident of Canada is deemed to be a payment of interest on that obligation. When a non-resident has entered into an agreement to lend money or make money available to a resident of Canada, any amount paid or credited to the non-resident in consideration for such agreement is deemed to be a payment of interest provided that, on the date such agreement was entered into, Part XIII tax would have applied to interest payable on any obligation issued pursuant to that agreement- 214(15). ... The dividend that is deemed to be paid to the non-resident is equal to the amount by which the fair market value of consideration (other than shares of the purchaser corporation) received exceeds the paid-up capital of the shares transferred. ...

Where this is the case, only the fruit juice content is taken into consideration when determining whether the 25% by volume threshold has been met. ... Although we consider placement of a product in store aisles as a relevant consideration, it alone is not considered a determinative factor. ... The consideration paid by the customer is based on a per person or per serving charge. ...

Any amount paid or credited to a non-resident in consideration for the non-resident's agreeing to guarantee, in whole or in part, the principal amount of an obligation of a resident of Canada is deemed to be a payment of interest on that obligation. When a non-resident has entered into an agreement to lend money or make money available to a resident of Canada, any amount paid or credited to the non-resident in consideration for such agreement is deemed to be a payment of interest provided that, on the date such agreement was entered into, Part XIII tax would have applied to interest payable on any obligation issued pursuant to that agreement- 214(15). ... The dividend that is deemed to be paid to the non-resident is equal to the amount by which the fair market value of consideration (other than shares of the purchaser corporation) received exceeds the paid-up capital of the shares transferred. ...

Any amount paid or credited to a non-resident in consideration for the non-resident's agreeing to guarantee, in whole or in part, the principal amount of an obligation of a resident of Canada is deemed to be a payment of interest on that obligation. When a non-resident has entered into an agreement to lend money or make money available to a resident of Canada, any amount paid or credited to the non-resident in consideration for such agreement is deemed to be a payment of interest provided that, on the date such agreement was entered into, Part XIII tax would have applied to interest payable on any obligation issued pursuant to that agreement- 214(15). ... The dividend that is deemed to be paid to the non-resident is equal to the amount by which the fair market value of consideration (other than shares of the purchaser corporation) received exceeds the paid-up capital of the shares transferred. ...