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Canada

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Tax authorities

International Tax Services Office
2204 Walkley Road, Ottawa ON K1A 1A8, Canada
Tel: +1 613 952 3741; +1 613 954 9681; +1 613 952 2344
Fax: +1 613 941 2505; +1 613 952 3845; +1 613 941 6905
Website: www.cra-arc.gc.ca

Tax rates at a glance

(As August 15 2009) 

Corporate income tax rate 22.12%(a)
Capital gains tax rate 22.12% (a)
Branch tax rate 25%

Withholding tax
Dividends 25%
Interest 25%
Royalties from patents and licences 25%
Branch remittance tax 25%

Net operating losses (years)
Carryback 3
Carryforward 20

(a) The federal general corporate rate is 21%, plus a 1.12% surcharge, with provincial rates bringing the effective tax rate to about 32%-38%. Only 50% of capital gains, which are taxed at the corporate rate, are includible in taxable income.

Source: Professionals from Gowlings, the Canadian member of Taxand, the global network of leading independent tax firms

Canada

Michael McLaren and Michael Colborne
Thorsteinssons
Canada

Michael McLaren and Michael Colborne at Thorsteinssons comment on new developments in Canada's international tax laws that include statutory amendments and the implications of the fifth protocol to the Canada-US tax treaty

[Show full article]

Tax

The end of income trusts is the big news in Canada this year, with many firms reporting that they are assisting clients with planning in preparation for returning to corporation status. The recommendations of the advisory panel set up to look at international ... [more]

Blake, Cassels & Graydon has seen strategic growth in the western Canada market. Adding well recognised practitioners from firms in the area, as well as increasing junior staff numbers in these offices, has proven successful for the firm, whose client ... [more]

Davies Ward Phillips & Vineberg offers comprehensive and timely Canadian and US tax advice on a wide variety of domestic and cross-border transactions and business vehicles, including mergers, acquisitions, reorganisations, workouts, infrastructure development, ... [more]

The tax group at Deloitte is one of the biggest in Canada. Rob O'Connor is noted for transfer pricing and Shawn Porter is identified by competitors as a leader in cross-border tax advice. The addition of former head of international tax at the Canada ... [more]

At McCarthy Tétrault, Jerald Wortsman and Nigel Johnston are both individually recognised while Doug Ewens, is described as a "big shooter, a nice guy". The firm this year acted for Chrysler Canada in connection with its sale under US bankruptcy chapter ... [more]

Osler Hoskin & Harcourt has a long list of advisers highlighted by peers as outstanding. Al Meghji is well known for tax controversy, and Scott Wilkie is noted in transfer pricing. Andrew McGuffin for capital markets and financial products and Richard ... [more]

Stikeman Elliott has a team of senior advisers with excellent reputations. Ronald Durand and Douglas Richardson both receive multiple recommendations from competitors. In the last year the firm successfully represented US multinational car parts manufacturer ... [more]

At Ernst & Young the motto is 'quality in everything we do,' and the firm takes care to offer clients the very best advice in all areas of tax. The firm has the size and capability to help the biggest clients with the most sophisticated work and get ... [more]

The controversy group at Fraser Milner Casgrain continues to grow, with the addition of the Honourable Donald Bowman, former chief justice of the Tax Court of Canada, and David Spiro from Blake, Cassels & Graydon. "They have built one of the strongest ... [more]

At Goodmans, M&A and capital markets are the firm's particular expertise, with debt restructuring important over the last 12 months. The firm deliberately keeps its tax group small. It has just 15 people. The firm this year were lead counsel to the Pan-Canadian ... [more]

KPMG has over 1,000 tax professionals working in Canada, with 131 partners in 31 locations. In cross-border services the team is 300 strong. The firm has eight service lines in Canada, including a strong transfer pricing group led by the well known François ... [more]

PricewaterhouseCoopers is broadly recognised as robust in all fields of tax services. The firm's client list includes large companies from every industry, who come to the firm for both complex planning and advice on compliance. Jeff Rogers in Toronto ... [more]

Bennett Jones is described as "a strong presence in Toronto," by a leading lawyer in the market. Claire Kennedy moved to the firm in February 2009 and with the addition of five new associates during the last 12 months, the firm is continuing to add strength ... [more]

The tax boutique Felesky Flynn has an excellent reputation. Behind named partner Brian Felesky "there is a very strong group coming up," says one market observer.

Torys has a "small group, but in terms of transactions handled they are top notch," said one competitior. With another noting that the firm's tax group has a "very busy and active practice, handling a lot of significant transactions". The firm is hunkered ... [more]

Clients sing the praises of Borden Ladner Gervais with one saying "they are very creative and can find the right solution. At the same time they are detail conscious and won't let you miss anything". Elinore Richardson receives individual recommendation ... [more]

Burnet Duckworth & Palmer is a smaller firm, recognised as strong in Calgary. John Brussa leads the group and "has a huge reputation", said one competitor

The tax group at Fasken Martineau prides itself on serving clients both domestic and international from blue chip right down to start-up companies. An important part of the practice involves planning for transactions such as financings, acquisitions, ... [more]

Gowling Lafleur Henderson - Taxand added a partner and four associates in the last 12 months. The firm advised Florida Power & Light Company in the bidding process, acquisition, and pre- and post-acquisition entity structuring and finance structuring ... [more]

McMillan has added three associates so far this year with plans to hire more before the end of the year. The firm is widely recognised as a commodity tax niche firm. "You would have trouble finding a stronger firm for sales tax," said one marker commentator. ... [more]

At Thorsteinssons, Warren Mitchell is acknowledged as strong in tax controversy. The firm practises in all areas of taxation law including income taxation, commodity tax, customs, and other incidental taxes.

Wilf Lefebvre of Ogilvy Renault is well known for his superiority in tax controversy. The firm provides clients with tax advice in many different areas, such as domestic and international corporate tax planning, tax dispute resolution and litigation, ... [more]

See also

Canada
North America

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