Comments to Canadian government on establishing a corporate loss-transfer system

On April 8, 2011, Tax Executives Institute submitted the following comments to Canada's Department of Finance with recommendations for establishing a loss-transfer system to improve the taxation of corporate groups. TEl's comments were prepared under the aegis of TEl's Canadian Income...

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Bibliographic Details
Published in:Tax Executive 2011-05, Vol.63 (3), p.173
Main Author: Rasmussen, Jeffery P
Format: Article
Language:English
Subjects:
Associations
Capital losses
Carryback losses
Corporate income taxes
Corporate taxes
Costs
Debt financing
Economic growth
Government agencies
Income shifting
Income Tax Act-Canada
Income taxes
Laws, regulations and rules
Liability
Loss deductions
Methods
Neutrality
Provinces
Tax planning
Tax rates
Tax regulations
Taxable income
Taxation
Transfer taxes
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Summary:On April 8, 2011, Tax Executives Institute submitted the following comments to Canada's Department of Finance with recommendations for establishing a loss-transfer system to improve the taxation of corporate groups. TEl's comments were prepared under the aegis of TEl's Canadian Income Tax Committee, whose chair is Carmine A. Arcari of the Royal Bank of Canada. Contributing substantially to the development of TEl's comments was Rodney C. Bergen of The Jim Rattison Group, TEl's Vice President for Canadian Affairs. Also contributing to the submission were Vincent Alicandri of Hydro One Networks, Inc.; David V. Daubaras of GE Canada, Bonnie Dawe of Finning International, Paula H. Gardner of Investors Group, Inc., Marvin E. Lamb of Imperial Oil Limited, Grant L. Lee of HSBC Canada, Carolyn Mulder of Wal-Mart Canada Corp.; Sandra Periera of GE Canada, Steve Perron of CGI Group, and Winston C. K. Woo of AGS Automotive Systems. Jeffery P. Rasmussen, TEI Tax Counsel, serves as staff liaison to the Canadian Income Tax Committee and coordinated the preparation of the Institute's comments.
ISSN:0040-0025