ADMS 3520 Chapter Notes - Chapter 1: Advance Tax Ruling, Double Taxation, International Taxation

• School: York University
• Department: Administrative Studies
• Course: ADMS 3520
• Professor: Thaddeus Hwong

Document Summary

Adms 3520 ch 1 introduction to federal taxation in canada. Canadian tax system: alternative tax bases, common tax bases. International: tax on corp reduced and are favorable compared to foreign rate. Income tax regulations: section 221 of ita allows governor in council to make regulations concerning. International tax treaties: most important = tax conventions with usa & uk, most based on oecd organization for economic co-operation and. Influential in making decisions related to income tax. Improved web functionality: better organizations divided into seven series that are further divided into folios. Interpretation bulletins: give cra"s interpretation of particular sections of law that it administers, announce significant changes in departmental interpretation. Info on monthly payments under tax benefit systems, interest rate, etc: advance income tax rulings and technical interpretations. Income tax ruling directorate of cra provide advance income tax rulings on: how it will tax a proposed transaction.