British Columbia Regional Tax Conference
This Canadian Tax Foundation program provided participants with a review of recent legislative and administrative developments in federal and provincial tax law, aimed specifically at Western Canada.
Number of Participants: 1
Overview
This Canadian Tax Foundation program provided participants with a review of recent legislative and administrative developments in federal and provincial tax law, aimed specifically at Western Canada.
Objectives
The objective of this conference was to enable participants, which included judicial and non-judicial participants, to assess practical ways of working around and through tax challenges and pitfalls, including best practices for resolving tax issues.
Summary
While many professionals understand the theory of the determination of “safe income”, issues occur when the theory is implemented in the real world for an actual taxpayer. The various sessions looked at recent decisions which impact owner-managed businesses and private companies. Sessions were carried out through various approaches, including workshops, plenary meetings, and panel discussions.
The conference also hosted a panel discussion with the Canada Revenue Agency, which allows judges to consider appropriate follow-up actions such as reassessment of tax returns.