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The Financial Services Regulatory Authority of Ontario has released its final pension deregistration guidance, which identifies the documents, information and timeframes that are required under exemptions from the Pension Benefits Act to avoid a plan’s deregistration under the Income Tax Act. Maintaining ITA registration will permit the pension plan and its members to continue to […]

  • By: Staff
  • November 21, 2022 November 21, 2022
  • 15:00

The Department of Finance’s proposals relating to the Income Tax Act, sales tax and other legislation adds complexity where compliance is already extremely challenging for pension plan administrators, according to Greg Hurst, managing director of Greg Hurst & Associates. In the legislative proposals, published earlier this month, the government released explanatory notes in relation to […]

  • By: Staff
  • August 24, 2022 August 23, 2022
  • 09:00

The Financial Services Regulatory Authority of Ontario is seeking feedback on its proposed guidance on requirements for pension plans to take certain actions to avoid de-registration under the Income Tax Act. The proposed guidelines would provide an overview of the documents and information required by the FSRA and the Canadian Revenue Agency for pension plans […]

  • By: Staff
  • August 16, 2022 August 17, 2022
  • 11:30

A Federal Court of Appeal ruling will make it very difficult for executives and employees to treat share transfers from their companies as capital gains rather than income. The decision involved Kitchener, Ont.-based D2L Corp., whose intention was to distribute appreciated shares of the company, held in a trust, to various employees. In turn, the […]

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Canada’s new employee stock option tax rules are raising a number of questions for employers, says David Crawford, a partner at Hugessen Consulting Inc. The new rules — part of the 2021 federal budget signed into law on June 29 — include an annual limit of $200,000 that will apply on stock option grants that […]