First Reference Talks

Discussions on Human Resources, Employment Law, Payroll and Internal Controls

Income Tax Act

By | 18 Minutes Read

CEWS update – Detailed tax commentary on enacted amendments in Bill C-20

On July 17, 2020, the government of Canada (the “Government”) released details, as well as draft legislative proposals to amend, inter alia, the Income Tax Act (Canada) (the “ITA”), in respect of a redesigned Canada Emergency Wage Subsidy (“CEWS”) program. The legislative proposals, in the form of Bill C-20, An Act respecting further COVID-19 measures (“Bill C-20”), received Royal Assent on July 27, 2020, and are now law.

By | 2 Minutes Read

The new Form T3010, Registered Charity Information Return

In November 2019, the Canada Revenue Agency (CRA) revised Form T3010, to reflect recent changes in the law governing political advocacy. All registered charities and Registered National Arts Service Organizations (RNASOs) must complete a Form T3010 each fiscal year.

By | 2 Minutes Read

Canadian government delays implementation of employee stock option proposals

Earlier this year, the Canadian government tabled a Notice of Ways and Means Motion with proposed amendments to the Income Tax Act (Canada) to implement the employee stock option proposals from the 2019 Federal Budget. The proposals were to apply to employee stock options granted by corporations and mutual fund trusts on or after January 1, 2020.

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Established in 1995, First Reference Inc. (known as La Référence in Quebec) provides Canadian organizations of any size with practical and authoritative resources to help ensure compliance.

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