Podcasts about Income Tax Act

Farm succession planning is not just about who gets the land; it is about how to transfer it without creating an unmanageable tax bill. This episode explains why farm property is treated differently under the Income Tax Act and how those differences can shape estate and succession decisions. In this episode, Frankie and Sarah are joined by Jamie Lee, Tax Manager at Baker Tilly Cadian, to walk through the unique tax rules that apply to qualifying farm property in Canada. From rollover provisions to the lifetime capital gains exemption, they break down what farm families need to understand before transferring property to the next generation. What to expect: Why farm property rollovers extend beyond spouses to children, grandchildren, and great-grandchildren How transferring property between cost and fair market value can create planning flexibility What the “principally used” test means and why 50 percent matters Key differences between pre 1987 and post 1987 capital gains exemption rules How the gross revenue test can complicate eligibility Why rising land values create liquidity concerns at death How promissory notes are often used in farm transfers The 36-month holding rule and why timing matters Additional considerations, including alternative minimum tax, OAS clawback, and potential HST implications And more! Connect with Frankie Loreto and Sarah Netley:  Courtice.BakerTilly.ca LinkedIn: Baker Tilly Canada LinkedIn: Frankie Loreto LinkedIn: Sarah Netley Call: (905) 579-5659 About our Guest:  Jamie Lee is a Tax Manager at Baker Tilly Cadian with a growing focus on farm taxation and succession planning. Coming from a farming background herself, she brings both personal understanding and professional expertise to her work with farm clients. Jamie Lee regularly advises on complex farm tax matters, including rollover provisions, capital gains exemption planning, and intergenerational transfers. She works closely with farm families to help them navigate evolving tax rules while supporting long term continuity and thoughtful succession strategies.

#HRhelpdesk #IndiaHRGuide #MandeepSingh, with 25 years of HR expertise, Mandeep examines how organizations in India should think about defining the retirement age for employees. He begins by clarifying that there is no central or state law that mandates a retirement age for the private sector, leaving the decision entirely to organizations. He then draws inferences from public institutions, explaining how the central government generally follows 60 years, with variations for armed forces, doctors, professors, and judiciary members. Mandeep highlights indirect legal indicators such as the Provident Fund withdrawal age of 58 and the Income Tax Act's classification of senior citizens at 60. He also references regulatory benchmarks from RBI and SEBI that indicate upper age limits in specific roles. Finally, he discusses global practices, emerging corporate trends, and the growing consideration of extending retirement up to 65 through policy choices, extensions, or fixed term contracts.

In South Africa, high earners face a 45% marginal rate with limited deductions, making Section 12B of the Income Tax Act a powerful tool to ease the tax burden while investing in renewable energy. In an interview with Biznews, Mitchel Fieldgate, wealth manager and alternative investment lead at Pangea Wealth, revealed they have facilitated R1 billion in deductions over the last two years. He noted that while this provides relief for high earners, it has also mobilised billions into commercial solar projects, reducing reliance on Eskom and alleviated load shedding. Fieldgate explained who might not benefit from the tax relief, clarified that it is not a tax loophole, and stressed that the 12B opportunities are not a one-size-fits-all solution. He suggested the government introduce similar tax breaks for repairing other infrastructure, such as water systems or roads, “because it mobilises money and there's no leakage.”

Canada is facing a quiet but urgent agricultural crisis. Nearly 3,000 family farms disappear every year — not because families want to leave farming, but because outdated inheritance rules are forcing impossible financial decisions. In this episode, Tracy sits down with Derryn Shrosbree, founder of 33seven and a national expert in farm succession and estate equalization, to unpack how current tax laws prevent many farmers from passing their land to nieces and nephews without triggering massive tax burdens. With the average Canadian farmer now 56 years old and fewer than 1 in 12 farms having a successor under 40, the future of family agriculture is at risk. This conversation explores what's happening behind the scenes, the real human cost to families, and what policy reform could mean for the next generation of Canadian farming. This isn't just a farm issue — it's about food security, rural communities, and protecting a cornerstone of Canada's economy. Highlights - Why nearly 3,000 Canadian family farms disappear every year - How outdated inheritance rules trigger crippling tax bills - The unfair gap affecting nieces and nephews working family farms - The aging farming population and succession crisis - The risk of farmland consolidation and foreign ownership - Economic impacts on rural communities and Canadian food security - Real stories from the front lines of farm succession planning - Practical steps families can take right now - What reform to the Income Tax Act could change - A vision for the future of intergenerational farming in Canada If this episode resonates with you, share it with a farming family, policymaker, or community leader. Awareness drives change and protecting family farms protects Canada's agricultural future. Thanks for tuning in, Tracy ============ SHOW RESOURCES Connect with Derryn Shrosbree and 33seven for expert guidance on farm succession and estate planning https://www.33seven.ca Subscribe to The Impact Farming Show for more conversations shaping the future of agriculture https://www.farmmarketer.com/impact_farming_show/sign-up ============

The appellant, Bank of Nova Scotia (“taxpayer”), filed its return for the 2006 taxation year, reported taxable income, and paid such taxes as it calculated to be owing. The Minister of National Revenue (“Minister”) later audited the taxpayer's 2006 to 2010 taxation years. In March 2015, the taxpayer and the Minister entered into a settlement agreement which required additional amounts to be included in the taxpayer's 2006 income. The day before entering into the settlement agreement, the taxpayer wrote to the Minister to request to carryback a loss from its 2008 taxation year to apply it to offset the increase in its 2006 income. The Minister reassessed the taxpayer, implementing the audit adjustment and the requested loss carryback, and imposing interest resulting from the reassessment. The Minister applied a provision that requires that, for a specified period of time, interest is calculated by ignoring the loss carryback. The computing of interest that ignores the loss carryback ceases to apply 30 days after the latest of four end dates listed in s. 161(7)(b)(i)-(iv) of the Income Tax Act. The Minister computed interest by applying s. 161(7)(b)(iv) to ignore the loss carryback until the date the taxpayer requested it. The taxpayer appealed to the Tax Court of Canada, taking the position that s. 161(7)(b)(iv) did not apply because the Minister's reassessment of its tax for 2006 was not “as a consequence” of its request to carryback losses from 2008 to offset its 2006 tax liability. The Tax Court of Canada and the Federal Court of Appeal dismissed the taxpayer's appeal. Argued Date 2026-01-21 Keywords Taxation — Income tax — Computation of interest payable — Minister's reassessment taking into account audit adjustment and carryback requested by taxpayer to offset a loss — Minister applying s. 161(1)(b)(iv) of Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.) to compute taxpayer interest up until day taxpayer requested loss carryback — Taxpayer appealing applicability of provision Minister relied on — Courts dismissing taxpayer's appeal — Whether the event set out in s. 161(7)(b)(iv) occurred when the Minister reassessed taxpayer's previous taxation year at a later date — What is the proper construction of s. 161(7)(b)(iv) and the words “where, as a consequence of a request in writing, the Minister reassessed the taxpayer's tax for [a previous year] to take into account the deduction” of a loss? — Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.), s. 161(7)(b)(iv). Notes (Federal) (Civil) (By Leave) Language English Audio Disclaimers This podcast is created as a public service to promote public access and awareness of the workings of Canada's highest court. It is not affiliated with or endorsed by the Court. The original version of this hearing may be found on the Supreme Court of Canada's website. The above case summary was prepared by the Office of the Registrar of the Supreme Court of Canada (Law Branch).

Good afternoon, I'm _____ with today's episode of EZ News. Tai-Ex opening The Tai-Ex opened marginally higher this morning from yesterday's close, at 28,190 on turnover of 3.8-billion N-T. The market lost ground on Tuesday as it followed most other regional markets and closed lower after Wall Street sank overnight as investors await the outcome of Wednesday's meeting of the U-S Federal Reserve and expectations of more interest rate cuts. MOFA protests South Korea listing it as part of China The Ministry of Foreign Affairs is continuing to urge South Korea to amend its electronic entry card system that lists Taiwan as part of China. The ministry says it has yet to receive a direct response from Seoul on the matter after highlighting (突出顯示) the error in its newly launched e-Arrival card system earlier this month. Department of East Asian and Pacific Affairs Director-General Liu Kun-hao is expressing the need for a correction - saying revising the island's designation underscores the importance of longstanding economic, cultural, and tourism exchanges between the two sides. Liu says there are serious concerns about the improper designation and the government is reviewing its overall relationship with South Korea - noting a large and long-standing trade deficit that highlights what he's describing as an unequal relationship. Taiwan raises long-term care tax deduction to NT$180,000 Lawmakers have approved an amendment that will raise the annual long-term care deduction to 180,000 N-T. The deduction previously stood at 120,000 N-T and the amendment to Article 17 of the Income Tax Act is aimed at easing (減輕) the financial burden of households supporting a dependent who requires long-term care. The change will apply retroactively from January 1 of this year and start to take effect in tax filings in May of 2026. Under Article 17 of the Income Tax Act, taxpayers may claim the deduction to taxable income for themselves, their spouses, or dependents officially recognized by the Ministry of Health as requiring long-term care due to physical or cognitive impairment. Zelenskyy refuses to cede land to Russia as he rallies European support Ukrainian President Volodymyr Zelenskyy says his country will not cede (放棄) territory to Russia. AP correspondent Charles de Ledesma reports < Canada Ambassador to US Resigning Next Year Canada's ambassador to the U.S. for the last six years says she's resigning next year as the two major trading partners review the free trade agreement. Ambassador Kirsten Hillman said Tuesday it is the right time to put in place someone who will see a review of the free trade agreement through to conclusion. Canada's free trade deal with the U.S. is up for review in 2026. Canadian Prime Minister Mark Carney says Hillman “prepared (準備) the foundations for Canada in the upcoming review" of the agreement. Former Canadian Prime Minister Justin Trudeau appointed Hillman in 2017. She was the first woman appointed (任命) to the role. Hillman helped lead the trade negotiations during U.S. President Donald Trump's first term and worked with U.S. and Chinese officials to win the release of two Canadians detained in China. That was the I.C.R.T. EZ News, I'm _____. －－－－以下為 SoundOn 動態廣告－－－－ 天氣好冷來不及準備早餐

Making Money Minute with Ron Hiebert - Deductible Moving Expenses If you are moving to another location, those expenses could be tax deductible. Under the Income Tax Act, you can deduct moving expenses for changing work locations, running a business, or becoming a full-time student. The expenses can be deducted from employment or self-employment income earned at your new work location. To qualify, your new home must be at least 40 kilometres closer to your new workplace or school. Deductible expenses include the cost of the movers, real estate commissions and land transfer taxes. If you meet the CRA's strict rules, it can save a bundle.

In this episode of The Line Podcast, recorded on November 7, 2025, Matt Gurney and Jen Gerson react to a remarkably busy week in Canadian politics.This episode of The Line Podcast is brought to you by Forestry For The Future. Canada's housing crisis demands bold, scalable solutions. Build Canada Homes is an opportunity to leverage Canadian wood in modern construction. Wood-based methods like mass timber and modular construction can significantly reduce build times, waste, and carbon emissions, while supporting local economies. Expanding building codes, streamlining approvals, and prioritizing domestic wood in federal projects could double demand and foster job creation in rural and northern communities.Despite trade challenges and market volatility, a partnership between industry and government is vital to stabilize the sector, enhance competitiveness, and deliver innovative, sustainably sourced Canadian wood products for homes across Canada and abroad. With capacity growing across provinces, stable demand and predictable financing are key to unlocking the sector's potential.We need to Build Canada Homes with Canadian wood. To learn more, visit ForestryForTheFuture.ca.They start with the Mark Carney government. Matt's self-imposed six-month grace period for judging the new prime minister has expired, and he's ready to weigh in: better than Trudeau, but not good enough for the moment. Jen is slightly more patient but, somehow, even sharper in her take — especially when it comes to Carney's recent apology to Donald Trump, which she finds baffling and unnecessary. And enraging.This episode is also brought to you by CPA Ontario. There's a saying: “Keep it simple,” and what's true for life is true for taxes. And while this week's historic federal budget introduced some much-needed tax measures to help spur investment and innovation, there is still more work to be done to make Canada's tax system less complex, and more competitive.  Just ask a CPA. In a recent survey, 84 per cent of Ontario CPAs said Canada's tax system is overly complex. They know how complexity drains resources from productive activity, and how high tax rates discourage investment and entrepreneurship, the very things Canada needs. Consider the numbers: real GDP per capita has barely grown in seven years and investment per worker in Canada is less than half that of the U.S.Complexity has a cost, and Canadians are paying it. Our sponsor, CPA Ontario, the regulator of over 105,000 Chartered Professional Accountants, has released a report putting forward 20 bold, practical recommendations to reform Canada's tax system, and simplify the Income Tax Act. The 2025 Budget was a step forward — but more reform is needed to grow the economy, create jobs, and raise living standards.Learn more at cpaontario.ca/taxreformThen attention turns to the Conservatives, where Pierre Poilievre's week has gone from bad to worse. Two MPs have walked away, and the question now is whether this is an isolated hiccup or the start of a real leadership problem. Matt and Jen point out that without the wind of inevitable victory at his back, Poilievre will need to rely on charm and political skill — qualities not generally considered his strong suit.The episode wraps with a wide-ranging discussion on what “woke” and “feminism” actually mean in 2025, and how those words have evolved. Jen is workshopping a new column on the topic, and Matt is clearly looking forward to reading it. All that and more in the latest episode of The Line Podcast.

Welcome to Top of the Morning by Mint.. I'm Nelson John and here are today's top stories. MiG-21 Retires After nearly 60 years in service, India's iconic MiG-21 is flying into history. Air Chief Marshal Amar Preet Singh marked the farewell with a formation flight alongside No. 23 Squadron, led by Sqn Ldr Priya. Official retirement comes on September 26, closing a legendary chapter in IAF history. Trump Targets India From the Oval Office, Donald Trump praised China while warning India. He spared Beijing but pressed ahead with a 50% tariff on Indian imports, citing New Delhi's sharp rise in Russian oil purchases—from under 1% before the Ukraine war to 42% after. Half the tariff is already in place; the rest lands this week. MAGA vs Trump Trump also stirred his base by saying the US would welcome 600,000 Chinese students. Supporters erupted online, calling it a betrayal of “America First.” With 277,000 Chinese students already in US universities and new visa restrictions announced earlier this year, his comment struck many as contradictory. Mail to US Halted Taiwan joined India and Europe in suspending postal services to America after Washington scrapped its duty-free exemption for imports under $800. Now, every international parcel faces customs duties, leaving families, small businesses, and e-commerce players scrambling as the US mailbox effectively shuts to the world. New Tax Rules India readies its Income Tax Act, 2025. To ease transition, CBDT will issue an SOP on digital seizures, clarifying how officials can access electronic data. Ramesh Narain Parbat stressed no new powers were added, only clearer wording. The aim: consistency, transparency, and predictability for taxpayers. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tom Korski, Managing Editor of Blacklock's Reporter (blacklocks.ca⁠), joins Alex Pierson to discuss: The “blackface” firing overturned: A labour board has overturned the 2021 dismissal of a Toronto schoolteacher who wore a Halloween costume that unintentionally resembled blackface. The arbitrator ruled the appearance was inadvertent, citing a question the teacher was asked: whether he was aware of Justin Trudeau's own blackface controversy. Unproven organ‑donor strike threat: Labour Minister Patty Hajdu's claim that a legal strike by 10,000 Air Canada flight attendants jeopardized deliveries of life-saving medications and organ tissue could not be substantiated—raising concerns she may have fabricated the scenario to justify strike restrictions. blacklocks.ca “Sexy drag” at Pride Week: A provocative scheduling choice for public service Pride week—featuring a “sexy drag rock star” at a workday bingo event—raises questions about appropriateness and cost, given that the internal notice did not disclose expenses. Widening tax auditors' powers: Proposed amendments to the Income Tax Act would empower Canada Revenue Agency auditors with new tools—allowing them to impose daily $50 fines and to compel oaths under threat of perjury—to enhance audit “efficiency and effectiveness.” Parks Canada corrects PM record: Parks Canada rushed to designate former Prime Minister Brian Mulroney as a national historic person, after it emerged that his Liberal predecessors had been honored much more promptly. The delay of 25 years—revealed by the Historic Sites and Monuments Board—prompted the belated correction. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Top of the Morning by Mint.. I'm Nelson John and here are today's top stories.Jet-Lagged in Kerala, may finally leave for home Jet-Lagged in Kerala, may finally leave for home A $115 million British F-35B stealth jet has been grounded at Thiruvananthapuram airport since June 14 after bad weather forced it to divert from the HMS Prince of Wales. While engineers work on repairs, the jet has turned into a social media sensation. Kerala Tourism joined the fun with a viral post: “Kerala is such an amazing place, I don't want to leave.” Cartoons have popped up showing the jet enjoying chai and snacks under palm trees. The UK Defence Ministry has dismissed rumors about dismantling and flying it back via cargo. The aircraft is expected to take off again as early as next week. Nipah Returns: Kerala on Guard Kerala is back on high alert after two confirmed cases of the deadly Nipah virus—one fatal. An 18-year-old girl from Malappuram died, while a 38-year-old woman from Palakkad is undergoing treatment. Nearly 500 people are on the contact list, with 29 in the highest-risk category. Despite this, no new cases have been reported, and containment zones in Malappuram have been lifted. A central health team is on the ground coordinating efforts. Nipah is a zoonotic virus with no vaccine, but Kerala's public health system has managed past outbreaks with early detection and isolation. Vedanta Called a ‘Parasite' in Explosive Report In a scathing 87-page report, US-based Viceroy Research accused Vedanta Resources Ltd (VRL) of draining its Indian arm, Vedanta Ltd (VEDL), through aggressive dividend extraction, shady internal loans, and dubious brand fees. The report calls VRL a “parasite” with no meaningful operations of its own, relying on the Mumbai-listed company to survive. It highlights over $8 billion in dividends paid by VEDL despite falling cash flows, unexplained interest costs, and $1 billion in suspect loans. Viceroy also flagged flashy project announcements with little follow-through, a revolving door of senior execs, and 107 legal disclosures since 2022—far more than peers like Tata Steel. The takeaway? A pattern of poor governance and financial engineering. Tax Relief for Green Investors The Indian Renewable Energy Development Agency (IREDA) just received a big push from the finance ministry. Its bonds are now classified as ‘long-term specified assets' under Section 54EC of the Income Tax Act. Translation: investors can save capital gains tax by investing up to ₹50 lakh annually in these bonds. The proceeds will be used exclusively for revenue-generating renewable energy projects. IREDA chairman Pradip Kumar Das hailed the move as a “pivotal moment” for green finance. The company posted a strong Q4 profit rise but saw a dip in Q1 earnings. Nonetheless, its stock ended 2.26% higher. Glenmark's $700 Million Global Leap Glenmark Pharmaceuticals has struck gold with the biggest outlicensing deal in Indian pharma history. Its US-based unit, Ichnos Glenmark Innovation (IGI), has licensed a breakthrough blood cancer drug to AbbVie for $700 million upfront, with total potential payouts of $1.93 billion. The drug, ISB 2001, is a trispecific antibody targeting multiple myeloma—an aggressive blood cancer that resists conventional treatments. The therapy is still in early trials but has already received orphan and fast track designations from the FDA. Glenmark will retain rights in India and emerging markets, while AbbVie takes it global. “This puts India on the world map,” said Glenmark MD Glenn Saldanha. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is a solo episode all about Division 296 of the Income Tax Act, 1997. Boring! Not quite, it's an amendment impacting the treatment of superannuation balances over $3m. In an unprecedented move, the Australian Tax Office will be demanding 15% of the unrealised gains above $3m. In this episode I outline what the law is all about, it's status, the purported reasons for it, some (many) criticisms and how to get around it...legally. Need a hand with self-custody? Book a⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠session ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠with me to get your Bitcoin security house in order.

Switching it up today and chatting about a very specific section of the Income Tax Act... s. 160.  This section can be used to assess one person for the tax debts of another person... it is typically applied between spouses and/or between parents and children.  However, some recent case law has resurrected a discussion on this topic, including who is really a "spouse" for the purposes of this section.RESOURCES DISCUSSED ON THIS EPISODESTEP SK - May 7 event on Canadians owning US real estateEnns v. CanadaHarvard PropertiesBarwicz v. HMTKHERE ARE SOME OTHER WAYS TO CONNECT WITH ME:My website! Email: thetaxchickpodcast@gmail.com@tax.chick (IG) LinkedInBe a "Tax Chick VIP" 

The Income Tax Bill, 2025 was introduced in the Lok Sabha recently. It seeks to modernise and simplify the Income Tax Act, 1961.  While the Bill is indeed shorter in length than the original Act it seeks to replace, there is one major concern: privacy experts believe it institutes a regime of tax surveillance, in complete violation of the Supreme Court judgement in the landmark Justice Puttasamy case where it ruled that privacy is a fundamental right.  Tax experts hold that under the provisions of this Bill, the state can claim complete access to the entirety of a person's “virtual digital space” merely on suspicion that she may be hiding income and evading tax.  Critics have also said that the Bill does not rationalise monetary thresholds for various compliances and deductions, nor does it provide meaningful revisions in the penalty and prosecution changes.  Guest: Deepak Joshi, Advocate-on-Record in the Supreme Court and a qualified Chartered Accountant.  Host: G. Sampath, Social Affairs Editor, The Hindu. Edited by Sharmada Venkatasubramanian.

Today marked Richard Ullger's last day with the Royal Gibraltar Police. The outgoing Commissioner of Police is retiring after 37 years of service with the force. Mr Ullger took over from Ian McGrail as Commissioner in July 2020. He was originally set to serve for two years but his appointment was extended twice. An emotional moment for Richard Ullger, as Christine Vasquez confirmed.The cost of the McGrail Inquiry has hit £5.7M. It was 3 million in early April last year, so in the past 12 months the cost has almost doubled. As it is a public inquiry, it's funded by the government with tax payers money. It was called to address public concern about how and why Ian McGrail retired early as police commissioner in 2020. But the fact the cost has risen to 5.7 million points to the many documents prepared by everyone involved in it since the last public hearings. We went through the final day of last week's hearings in detail.Bringing generations together - one card at a time! 'Collectify' is a Young Enterprise team aiming to combine the fun of collection cards, with the education of Gibraltar's cultural figures, landmarks and more. The team consists of 9 individuals, 3 of them joined us in the studio: Jessie Chipol-Nuñez, Celine Cruz and Adi DhanwaniThe Government has proposed amendments to the Income Tax Act 2010 which set out to make tax avoidance harder. The Commissioner of Income Tax would get new powers, including involving a person's professional or regulatory body when it's believed they have submitted, or helped with, a tax return suspected to be inaccurate. We asked Grahame Jackson, the Chair of the Association of Tax Advisers, how the proposed law has gone down among industry professionals.And, Jose Mari Ruiz filled us in on the latest in local sports including the athletics round the rock race, a women's hockey training camp and the latest football results as both Lincoln Red Imps and St Joseph's have their eyes on the Rock Cup. Hosted on Acast. See acast.com/privacy for more information.

Nicole O'Byrne speaks with Colin Campbell and Robert Raizenne about their book, A History of Canadian Income Tax Volume II, 1948-71. This book offers an in-depth analysis of the creation and enforcement of the 1948 Income Tax Act and its subsequent amendments. It details the policy discussions among senior officials and finance ministers on various tax system matters, drawing extensively from parliamentary debates, government documents, and resources from the Canadian Tax Foundation. Colin Campbell began his career as a political science professor at Mount Allison University before earning his law degree at Western. He practiced as a tax partner at Davies Ward Phillips & Vineberg LLP, specializing in tax planning and representing clients in court. Colin taught at Western Law from 1999 to 2009 as an adjunct, then joined full-time in 2011 as an associate professor. He has written extensively on tax and serves as chair of the Canada Revenue Agency's Offshore Compliance Advisory Committee. Robert Raizenne has extensive experience in tax planning, including cross-border and domestic M&A, corporate reorganizations, international tax, and trusts. He is also an experienced tax litigator. Robert is an adjunct professor of tax law at McGill and the University of Toronto, and a frequent speaker and writer at major tax conferences, including those hosted by the Canadian Tax Foundation and the International Fiscal Association. Image Credit: Osgoode Society Books If you like our work, please consider supporting it: bit.ly/support_WTY. Your support contributes to the Champlain Society's mission of opening new windows to directly explore and experience Canada's past.

avigating Gray Areas in Insurance and Tax Law In this episode, host Jason Pereira, alongside guest Jason Watt, embarks on an in-depth discussion about the gray areas in insurance and tax law that Canadian business owners need to be aware of. They explore complex issues surrounding the Income Tax Act's treatment of insurance, the potential risks involved with current sales tactics, and the specifics regarding corporate-owned insurance and individual policies. They discuss critical illness insurance, the implications of using corporate assets for personal loans, the nuances of the Capital Dividend Account (CDA), the mechanics of health spending accounts, and group benefits. They also touch upon the responsibilities and potential liabilities for insurance agents and financial planners. This episode aims to provide clarity and caution on often misunderstood and convoluted topics in the insurance field. 00:00 Introduction to Financial Planning for Canadian Business Owners 00:11 Gray Areas in Insurance and Tax Law 01:04 Historical Context of Insurance in the Income Tax Act 02:01 Critical Illness Insurance and Tax Code Gaps 02:59 Taxation of Corporate-Owned Insurance 05:06 Complexities of Borrowing Against Insurance Policies 10:45 Offshore Insurance Arrangements 13:56 Capital Dividend Account (CDA) Explained 17:05 Critical Illness Insurance with Return of Premium 20:43 Understanding Actuarial Valuation for ROP 21:06 Critical Illness Insurance: Real-Life Scenarios 21:56 Tax Implications and Full Disclosure 24:21 Group Benefits: Tax Outcomes and Gray Areas 29:14 Health Spending Accounts: Rules and Risks 33:43 Shareholder Benefits and Tax Risks 37:49 Agent's Obligations and Client Protection 41:52 CRA's Response and Tax Court Realities 45:11 Conclusion and Final ThoughtsResources Mentioned:Facebook – Jason Pereira's FacebookLinkedIn – Jason Pereira's LinkedInWoodgate.com – Sponsor Hosted on Acast. See acast.com/privacy for more information.

This is the Catchup on 3 Things by The Indian Express and I'm Ichha Sharma.Today is the 14th of February and here are this week's headlines.Prime Minister Narendra Modi embarked on a four-day trip to France and the US, starting Monday. In France, Modi co-chaired the Artificial Intelligence Action Summit with French President Emmanuel Macron from 10 to 12 of February. During his visit, he also inaugurated India's first consulate in Marseille and paid tribute to Indian soldiers at the Mazargues War Cemetery. Before embarking on his visit Modi referred to both Macron and US President Donald Trump as his "friends" and emphasized strengthening international cooperation in the fields of technology and diplomacy.Meanwhile, Manipur's Chief Minister, N Biren Singh, resigned, setting off discussions about his replacement. The BJP's central leadership is expected to take time in finalizing a consensus candidate. Governor Ajay Kumar Bhalla has asked Singh to remain in office until alternative arrangements are made. Meanwhile, Singh recommended suspending the Assembly, allowing time for MLAs to agree on a new leader. With no clear majority support for a successor, the Centre may consider imposing President's Rule. The resignation led to the nullification of an earlier order to convene the Assembly.In another news making headline, Ranveer Allahbadia, founder of the popular YouTube channel ‘Beer Biceps', has become the subject of a Mumbai police probe for the allegedly obscene comments he made during a guest appearance on Samay Raina YouTube show ‘India's Got Latent'. Maharashtra cyber police summoned several celebrities, including comedian Tanmay Bhatt, actor Rakhi Sawant, and influencer Uorfi Javed.Meanwhile, Samay Raina's lawyer sought more time for her client as he is travelling overseas, but the state cyber police refused to give any time and served him a second notice asking him to remain present before them on 17th of February. In other news, the Uttarakhand High Court addressed concerns about the Uniform Civil Code of Uttarakhand Act, 2024, particularly regarding live-in relationships. The court emphasized the importance of self-respect and privacy, especially for children born from such relationships. Chief Justice G Narender questioned the regulation of live-ins and the declaration of such marriages as void or criminal. The petition challenging these provisions highlights concerns about the infringement of religious rights and the adverse impact on individuals involved in live-in relationships.Meanwhile, in news from the parliament, Finance Minister Nirmala Sitharaman introduced the new Income Tax bill in Lok Sabha on Thursday. The new Income Tax Bill will replace the six-decade old Income Tax Act and will likely come into effect from 1st of April, 2026. With no major structural changes in the new Bill, experts say its majorly a simplification exercise and its key features are — crisp language, removal of extra provisos and explanations along with expanded definition of income. In the new I-T Bill, virtual digital assets have been included in the definition of property to be counted as a capital asset of the assessee and several provisions have been provided in tabular format such as TDS provisions, presumptive taxation rates, assessment time limits among others.This was the Catch Up on 3 Things by the Indian Express

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Friday, February 14, 2025. This is Nelson John, let's get started. Top Indian business schools are witnessing a resurgence in hiring activities, despite uncertainties stemming from global political developments. This rebound is attributed to the robust growth of India's economy, which has bolstered corporate confidence and led to an increased demand for management graduates. Companies across sectors such as technology, finance, and consulting are actively recruiting, offering competitive packages to secure top talent reports Devina sengupta & Pritista Bagi. However, global political events, including trade tensions and policy shifts, have introduced elements of unpredictability. These developments have prompted organizations to reassess their international strategies, potentially influencing the nature and volume of roles offered to graduates. Despite these challenges, the overall hiring sentiment remains optimistic, with firms focusing on candidates who can navigate complex global scenarios and drive growth in uncertain times. While global political dynamics present challenges, the strong domestic economic environment ensures that top Indian business schools continue to experience healthy hiring trends.Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha yesterday. The much-anticipated new Bill will not introduce new taxes but only simplifies the language of the existing Income Tax Act of 1961 and enhances clarity for taxpayers. Some of the key highlights include: Reduction of Obsolete Provisions: Numerous outdated and redundant sections have been eliminated to streamline the tax code.Consolidation of Sections: Related provisions, especially those concerning salaries and deductions, have been grouped together for easier reference.Introduction of ‘Tax Year': The bill introduces the concept of a “tax year,” aligning it with the financial year to reduce confusion.Taxpayer's Charter: A charter outlining the rights and obligations of taxpayers has been introduced to promote transparency and trust.Faceless Jurisdiction: Provisions have been made for faceless assessments to minimize direct contact between taxpayers and authorities, reducing potential biases.Enhanced Compliance Measures: The bill empowers the Central Board of Direct Taxes (CBDT) to establish tax administration rules and implement digital tax monitoring systems without requiring frequent legislative amendments. Those were some of the key highlights of the new income tax bill.. Now this Bill, represents a significant step toward modernizing India's tax framework, aiming for greater simplicity, transparency, and taxpayer-friendliness. The new provisions are set to take effect from April 1, 2026, providing taxpayers ample time to adapt to the changes. Quantum computing is making big leaps forward, but most businesses aren't paying attention because they're busy with other tech priorities like AI. A startup called PsiQuantum, based in California, aims to build a fully functional quantum computer by 2027. Unlike other companies, they are using existing computer chip factories to speed up the process. Despite these advancements, a poll at the Wall Street Journal's CIO Network Summit revealed that none of the attending tech executives were actively exploring quantum computing applications for their businesses. Many are currently more focused on areas like artificial intelligence and adapting to evolving technology policies. However, India is making significant strides in quantum computing through government-led initiatives & research programs through the National Quantum Mission and collaborations with global tech firms like IBM, Google, and Microsoft who are partnering with Indian firms and universities to train talent in quantum technologies. India's investments in quantum computing are expected to transform industries like finance, healthcare, defense, and logistics in the coming years.The International Finance Corporation (IFC), part of the World Bank Group, has invested ₹860 crore (approximately $98.35 million) in India's first sustainability-linked bond issued by Cube Highways Trust (Cube InvIT). The funds from this bond will be used to acquire NAM Expressway Limited, a key highway that links Chennai and Hyderabad. Additionally, the investment will support Cube InvIT's long-term objectives, including initiatives focused on sustainability and social inclusion. As the main investor, IFC's involvement is expected to attract more capital, promoting the development of India's road infrastructure while adhering to global ESG standards, reports subshas narayan. Global investment firm Carlyle has acquired controlling stakes in two Indian auto parts manufacturers, Highway Industries and Roop Automotives, to create a diversified auto components platform. Highway Industries specializes in powertrain parts, while Roop Automotives produces steering system assemblies and exports to Europe and North America. The founders of both companies will retain significant stakes and continue to be involved in the business. Carlyle aims to help these companies leverage operational synergies, enhance capabilities, and expand capacities to deliver greater value to their customers. This move reflects Carlyle's strategy to build a significant presence in India's auto components sector, focusing on companies that cater to electric vehicles and have strong export potential.  

This is the Catchup on 3 Things by The Indian Express and I'm Flora Swain.Today is the 13th of February and here are the headlines.Prime Minister Narendra Modi is set to hold talks with US President Donald Trump, after his meeting with the country's intelligence chief Tulsi Gabbard. PM Modi is currently on a two-day visit to the United States, landing in Washington DC after wrapping up his visit to France where he co-chaired the Paris AI Action Summit alongside French President Emmanuel Macron. PM Modi is set to be the third foreign leader to be hosted by the White House since President Trump took office on January 20 for the second term.Meanwhile, in news from the parliament, Union Minister for Finance Nirmala Sitharaman introduced the new Income Tax bill in Lok Sabha. The new Income Tax Bill will replace the six-decade old Income Tax Act and will likely come into effect from April 1, 2026. With no major structural changes in the new Bill, experts say its majorly a simplification exercise and its key features are — crisp language, removal of extra provisos and explanations along with expanded definition of income. In the new I-T Bill, virtual digital assets have been included in the definition of property to be counted as a capital asset of the assessee and several provisions have been provided in tabular format such as tax deducted at source provisions, presumptive taxation rates, assessment time limits among others.In other news, The Adani Group has withdrawn from a 484 megawatt wind project in northern Sri Lanka after the government in Colombo allegedly moved to renegotiate the terms of the project. Adani Green Energy Ltd told Sri Lanka's Board of Investment yesterday that it would “respectfully withdraw” from the wind project following discussions with officials who indicated that fresh committees would be formed to “renegotiate the project proposal”. The wind project has been under intense scrutiny since the election of Sri Lanka's President Anura Kumara Dissanayake in September last year, after he promised to cancel the “corrupt” project in the runup to the elections.Meanwhile, facing growing revenue and fiscal deficits and a mounting debt, the Mamata Banerjee government diverted some of its spending on social welfare from its flagship Lakshmir Bhandar scheme to one for building rural houses, in the Budget tabled yesterday. The Chief Minister, who has accused the Centre of not releasing “a single paisa” for the PM Awas Yojana in Bengal, had announced the Banglar Bari housing scheme in December last year.In news from Maharashtra, Shiv Sena (UBT) leader Aaditya Thackeray met Congress leader Rahul Gandhi in Delhi today amid speculations of trouble within the Maha Vikas Aghadi (MVA) alliance in Maharashtra after NCP (SP) chief Sharad Pawar recently felicitated Shiv Sena chief and Maharashtra Deputy Chief Minister Eknath Shinde. Thackeray, the former Maharashtra minister, is also likely to meet AAP national convenor and former Delhi CM Arvind Kejriwal later in the day.This was the Catch Up on 3 Things by the Indian Express

It's Wednesday, January 8th, A.D. 2025. This is The Worldview in 5 Minutes heard on 125 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Jonathan Clark Muslims set new convert's house on fire, killing whole family A Christian family in Uganda, Africa died for their faith last month. Back in November, 64-year-old Kaiga Muhammad, his wife Sawuya Kaiga and their son Swagga Amuza Kaiga, age 26, came to faith in Christ through a local church. The pastor of the church said the family requested prayer for their son who had malaria. The pastor told Morning Star News, “We prayed for the son, and immediately he was restored to good health.” However, Muslims in the area found out about the family's conversion to Christianity. On December 26th, they set the family's house on fire, killing all three. Please pray for persecuted brothers and sisters in Christ in Uganda.  Psalm 116:15 says, “Precious in the sight of the LORD is the death of His saints.” Christian religious liberty in Canadian crosshairs The Evangelical Fellowship of Canada warns that new government recommendations would curtail religious freedoms in Canada.  The recommendations come from a Finance Committee report at the end of last year. Recommendation 429 says the government should “no longer provide charitable status to anti-abortion organizations.”  In addition, it says the Income Tax Act should be amended to “provide a definition of a charity which would remove the privileged status of ‘advancement of religion' as a charitable purpose.” The Evangelical Fellowship of Canada said, “This change, if adopted, would have a far-reaching and devastating impact - on religious charities, the people they serve, and Canadian society. Just over 40% of Canada's registered charities advance religion. This proposal would destabilize the charitable sector in Canada.” Facebook/Instagram kisses “fact checking” goodbye In the United States, Meta CEO Mark Zuckerberg announced yesterday the tech company is ending fact checking on its social media platforms. Meta is the parent company of Facebook and Instagram. Zuckerberg said, “We're going to get back to our roots and focus on reducing mistakes, simplifying our policies and restoring free expression on our platforms. More specifically, here's what we're going to do. First, we're going to get rid of fact checkers and replace them with community notes similar to X, starting in the U.S.” Life News celebrated the decision, noting, “More practically, that means Facebook is finally going to stop discriminating against pro-life conservatives and it will get rid of the liberal fact-checkers it has used for years to suppress conservative content.” West losing control of world economy In economic news, the West is slowly losing control of the world economy. The U.S. dollar's share of global currencies fell again last year to 57.4%. That's down from 72% in the year 2000, dropping a rate of about 1% per year. Bitcoin and gold skyrocket Bitcoin scraped $102,000 on Monday. The cryptocurrency market cap has hit $3.64 trillion. Plus, gold's market capitalization is estimated at $17.9 trillion and gold's value is up 129% in seven years.  Silver is at $1.7 trillion.   Cryptocurrency's market cap is up 10-fold since early 2018. Amazon has improved its market capitalization 16-fold in ten years, and Tesla's market capitalization value is up 24-fold in seven years. Ironically, Tesla's stock rose 71% last year, but the company's total cars sold last year dropped a skosh - by about one percent. Oldest woman is 117 And finally, after the earthly departure of the oldest woman in the world who was from Japan, the new candidate is a soccer-loving nun from Brazil. Sister Inah Canabarro of Porto Alegre is 117 years old.  Another nun, Lucille Randon of France, held the record for the oldest living person in 2023, when she died at 118 years of age. The oldest living person by recent authenticated accounts was Jeanne Louise Calment of France, who died in 1997 at 122 years of age. 1 Peter 3:10-11 says, “He who would love life and see good days, let him refrain his tongue from evil, and his lips from speaking deceit. Let him turn away from evil and do good; let him seek peace and pursue it.” Close And that's The Worldview on this Wednesday, January 8th, in the year of our Lord 2025. Subscribe by Amazon Music or by iTunes or email to our unique Christian newscast at www.TheWorldview.com. Or get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

Finance Minister Nicola Willis is promising tax changes ahead for charities and the closing of loopholes, and the details of that will be announced in next year's budget. And not before time, you'd have to say. There's about $2 billion, it's estimated, in untaxed profit in the charitable sector, and politicians of varying hues have been eyeing up that revenue potential for some time. I think both Christopher Luxon and Chris Hipkins have said on this show that the charities loophole is something they want to look at. There's also the issue of fairness. A number of charities, operators, businesses —think high profile ones like Sanitarium and Best Start— compete with non-charitable businesses that do not have tax exemptions. The tax working group estimated that about 30% of charities were likely to have some sort of trading activity. So when is a charity, not a charity? Michael Gousmett, from the University of Canterbury, says look at Christ College in Christchurch. He says they're shareholders in a forestry company, and he says if they're sending young men up to the North Island to teach them how to grow straight pine trees, how to mill timber, how to market it and so on, that would be advancing their education under charity law. The fact is they don't. Those boys wouldn't know a pine tree if it fell on them. It was a purely commercial operation, same as the chap down the road growing straight pine trees. The difference is one pays tax, one doesn't, and where's the fairness in that? I think we need to tighten it up. It's not so much a loophole as what Michael Gousmett, describes as “a failure of fiscal policy”. The fact is, there's provision in the Income Tax Act for exemption for charities – he would argue that it's too broad. And you'd have to agree with him, and a number of people have said much the same thing when they have rung in when the topic has come up, and when we've had the leaders of the parties in for a chat. You've got Ngāi Tahu and their seafood businesses. Michael Gousmett said seafood production is not the same thing as advancing the purposes of iwi. I mean, while you can get away with it, go for it. I mean, there are plenty of people who are setting up trusts to avoid paying the maximum amount of tax. They try to minimise their tax return, and that's legal at the moment as the way the law is written, but I think Nicola Willis is casting a gimlet eye over the law and looking to tighten it up. We're all agreed, aren't we, that the sooner that happens, the better? We've been going on like pork chops about Sanitarium and some of the iwi who are operating very, very successful businesses. All well and good to have a charity, set up your scholarships to send kids off to school and grants for housing and health and what have you – great, fabulous. But when the loophole exists, you know it exists, it's been pointed out people can see it, politicians of all shades have said this is a nonsense when we need every last bit of cash. Couldn't we do with Grant Robertson's $600 million down the back of the couch right now? We need every last bit we've got. High time the loophole was closed. I'm just sorry it's going to be next year's budget, and it couldn't happen with a stroke of a pen today. See omnystudio.com/listener for privacy information.

On Episode 412 of The Core Report, financial journalist Govindraj Ethiraj talks to Andrew Holland, Mumbai-based CEO at Avendus Capital Public Markets Alternate Strategies as well as Dwarak Narasimhan, Partner at Price Waterhouse & Co LLP, India. SHOW NOTES (00:00) The Take: Whose Data Is It Anyway? (05:00) Markets fall further as cues disappear (05:53) Hyundai Motors IPO is in second gear (07:08) Why India's 11-month market rally is at risk (17:54) Rewriting the Income Tax Act, 1961 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Listeners! We await your feedback....⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirements For more of our coverage check out ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecore.in⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join and Interact anonymously on our whatsapp channel⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to our Newsletter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow us on:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Twitter⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Linkedin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ | ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Youtube⁠

Episode 24 – Reconciliation and the Nonprofit Sector: Where Are We Now? To mark Canada's 4th annual National Day for Truth and Reconciliation, in this episode, we're checking in with Indigenous nonprofit leaders from across the country to hear what they have to say about whether any progress has been made in how the nonprofit sector supports, funds and collaborates with Indigenous-led organizations. We'll spotlight some powerful examples of how settler-led and Indigenous-led organizations are creating better working relationships, and hear from Indigenous leaders on what more the sector needs to do to advance reconciliation work. CharityVillage Resources From This Episode·        CharityVillage Connects: How Bill S-216 Could Transform the Canadian Nonprofit Sector ForeverUpdate: Bill S-216 has now been passed “in essence” via Bill C-19, the Budget Implementation Act. Bill C-19 included measures that changed the “direction and control” requirements that regulate charities who work with non-charities. According to Senator Ratna Omidvar, sponsor of Bill S-216, “These are big and important changes. They provide a path to get rid of the deeply embedded form of systemic racism that was contained in the Income Tax Act. In its place will be strong, accountable and effective partnerships based on mutual respect.”Bill S-216, otherwise known as the Effective and Accountable Charities Act, sought to amend the Income Tax Act to empower charities by allowing them to more effectively collaborate with a wider range of organizations, including those without charitable status, which the Act refers to as “non-qualified donees”. Proponents of the Bill said the amendments were necessary to get rid of burdensome and expensive redtape and outdated legal bureaucracy. But the key shift proposed by Bill S-216 is much more aspirational: to eliminate the deeply-rooted and historic paternalism that many see embedded in the current rules about how charities can operate.In this episode, we speak with Senator Ratna Omidvar, sponsor of Bill S-216, and with other nonprofit sector experts to explore the pros and cons of this legislation, as well as the deeper implications of what it means for Canadian charitable organizations now that it's become law. ·        CharityVillage Connects: Indigenous Leaders Discuss Truth and Reconciliation in the Nonprofit SectorPlease note: This podcast discusses topics that may be distressing and awaken memories of past traumatic experiences and abuse. Support is available for anyone affected by their experience at residential schools or by related reports. The National Indian Residential School Crisis Line provides 24-hour crisis support to former Indian Residential School students and their families toll-free at 1-866-925-4419. Immediate emotional support is available by contacting the Hope for Wellness Help Line toll-free at 1-855-242-3310, or by online chat at hopeforwellness.ca. In this episode, upon the first anniversary of the National Day for Truth and Reconciliation, we'll hear unique perspectives from Indigenous leaders from across Canada on what September 30 means to them, the painful legacy it symbolizes, and how, together, we can hopefully move forward. Underlying these discussions is the role that Canadian nonprofits can play in supporting Indigenous-led charitable activities. Considering that The Truth and Reconciliation Commission of Canada was established over 14 years ago, why has the sector failed to take a more meaningful role in an area where its support could make a real difference? Tune in to this special episode of CharityVillage Connects to hear from Indigenous leaders about how the nonprofit sector can better support, and ally with, Indigenous-led organizations and communities. Additional Resources From This EpisodeWe've gathered the resources from this episode into one helpful list:·        Truth and Reconciliation Commission of Canada: Calls to Action·        Canadian charities giving to Indigenous charities and qualified donees - 2019 (Blumbergs)·        Allowing the Community to Decide for Itself (Toronto Star, 2023)·        Calgary Foundation: Reconciliation·        The Declaration of Action (The Circle)·        McConnell commits $30M in capital transfers to Indigenous-led foundations (2023) ·        National Indigenous Economic Strategy Learn more and listen to the full interviews with the guests here.Mary Barroll, president of CharityVillage, is an online business executive and lawyer with a background in media, technology and IP law. A former CBC journalist and independent TV producer, in 2013 she was appointed General Counsel & VP Media Affairs at CharityVillage.com, Canada's largest job portal for charities and not for profits in Canada, and then President in 2021. Mary is also President of sister company, TalentEgg.ca, Canada's No.1, award-winning job board and online career resource that connects top employers with top students and grads.#charity #podcast #nonprofit

The CEO of the embattled Jewish National Fund of Canada, Lance Davis, insists he is now “running a very tight ship” in the wake of the Canada Revenue Agency's recent decision to strip the historic Zionist fundraising organization of its charitable status. Davis, who became JNF Canada's CEO in 2017, maintains that many of the government's longstanding concerns had already been addressed in years past. In an interview with The CJN Daily, Davis blasted the CRA for deliberately choosing the harshest punishment for the venerated Zionist charity, which has sent more than $200 million to beautify Israel and help vulnerable people there. He also argues the CRA rushed to pull the trigger on its status too early, given how JNF's legal dispute is still before the courts. However, documents obtained by The Canadian Jewish News paint a more nuanced picture of why the CRA lost its patience after a decade of "major concerns" about "repeated and serious non-compliance” with Canada's Income Tax Act rules. As reported in The CJN's print feature that digs into the paperwork, the auditors quietly told the Jewish charity several times that it needed to clean up its act, and by 2019, JNF Canada knew Ottawa was moving to revoke. Yet the charity still got five more years to comply. Lance Davis joins The CJN Daily to explain JNF Canada's point of view, then we're joined once again by charity law expert Mark Blumberg who helps explain how the charity got to this point, what could have prevented this scenario and why the government stopped waiting. What we talked about Read why JNF Canada has known for a decade it was at risk of losing its charitable status, in TheCJN.ca Read the CRA's documents for yourselves outlining its case vs. JNF Canada since 2014 JNF Canada said it was 'blindsided", on The CJN Daily back on Aug. 13 Credits Host and writer: Ellin Bessner (@ebessner) info@thecjn.ca Production team: Zachary Kauffman (producer), Michael Fraiman (executive producer) Music: Dov Beck-Levine Support our show Subscribe to The CJN newsletter Donate to The CJN (+ get a charitable tax receipt) Subscribe to The CJN Daily (Not sure how? Click here)

Episode 21 – Bill S-279: A Proposal to Measure the Diversity of Boards of Canadian CharitiesIn 2019, the Senate of Canada published Catalyst for Change: A Roadmap to a Stronger Charitable Sector. Among its recommendations was a suggested amendment to the Income Tax Act to require charities to report on the diversity of their boards in their annual filings. Senator Ratna Omidvar, co-author of the report, has since proposed Bill S-279 to amend the Income Tax Act to do just that. Join us in this episode of CharityVillage Connects, where we talk to Senator Omidvar and other sector experts to learn more about the bill, what it would mean for charities, and the current state of equity and diversity in Canada's nonprofit leadership.Meet Our Guests in Order of Appearance Senator Ratna Omidvar, Independent Senator for Ontario, Senate of CanadaDr. Wendy Cukier, Founder and Academic Director, Diversity InstituteLeslie Woo, CEO, CivicActionAnne-Marie Pham, CEO, Canadian Centre for Diversity and InclusionTerrance Carter, Managing Partner, Carters Professional CorporationKate Behan, Managing Director, Charity Intelligence (comments are personal opinion and do not reflect the views of Charity Intelligence) About your HostMary Barroll, president of CharityVillage, is an online business executive and lawyer with a background in media, technology and IP law. A former CBC journalist and independent TV producer, in 2013 she was appointed General Counsel & VP Media Affairs at CharityVillage.com, Canada's largest job portal for charities and not for profits in Canada, and then President in 2021. Mary is also President of sister company, TalentEgg.ca, Canada's No.1, award-winning job board and online career resource that connects top employers with top students and grads.CharityVillage Resources from this EpisodeCharityVillage eLearning: Decolonizing the BoardroomCharityVillage eLearning: DEI Best Practices for NonprofitsDiversity in Canada's Nonprofit Sector (2021)Additional Resources from this EpisodeWe've gathered the resources from this episode into one helpful list:Catalyst for Change: A Roadmap to a Stronger Charitable Sector (Senate of Canada)Bill S-279: An Act to Amend the Income Tax Act (Data on Registered Charities)Diversity of charity and non-profit boards of directors: Overview of the Canadian non-profit sector (Statistics Canada)Canada Business Corporations Act (Government of Canada)Diversity and Inclusion in Non-profit Leadership in Ontario: Are We There Yet? (Diversity Institute & Civic Action 2023)The 50-30 Challenge BoardShift by CivicActionLearn more and listen to the full interviews with the guests here.

Episode 21 – Bill S-279: A Proposal to Measure the Diversity of Boards of Canadian CharitiesIn 2019, the Senate of Canada published Catalyst for Change: A Roadmap to a Stronger Charitable Sector. Among its recommendations was a suggested amendment to the Income Tax Act to require charities to report on the diversity of their boards in their annual filings. Senator Ratna Omidvar, co-author of the report, has since proposed Bill S-279 to amend the Income Tax Act to do just that. Join us in this episode of CharityVillage Connects, where we talk to Senator Omidvar and other sector experts to learn more about the bill, what it would mean for charities, and the current state of equity and diversity in Canada's nonprofit leadership.Meet Our Guests in Order of Appearance Senator Ratna Omidvar, Independent Senator for Ontario, Senate of CanadaDr. Wendy Cukier, Founder and Academic Director, Diversity InstituteLeslie Woo, CEO, CivicActionAnne-Marie Pham, CEO, Canadian Centre for Diversity and InclusionTerrance Carter, Managing Partner, Carters Professional CorporationKate Behan, Managing Director, Charity Intelligence (comments are personal opinion and do not reflect the views of Charity Intelligence) About your HostMary Barroll, president of CharityVillage, is an online business executive and lawyer with a background in media, technology and IP law. A former CBC journalist and independent TV producer, in 2013 she was appointed General Counsel & VP Media Affairs at CharityVillage.com, Canada's largest job portal for charities and not for profits in Canada, and then President in 2021. Mary is also President of sister company, TalentEgg.ca, Canada's No.1, award-winning job board and online career resource that connects top employers with top students and grads.CharityVillage Resources from this EpisodeCharityVillage eLearning: Decolonizing the BoardroomCharityVillage eLearning: DEI Best Practices for NonprofitsDiversity in Canada's Nonprofit Sector (2021)Additional Resources from this EpisodeWe've gathered the resources from this episode into one helpful list:Catalyst for Change: A Roadmap to a Stronger Charitable Sector (Senate of Canada)Bill S-279: An Act to Amend the Income Tax Act (Data on Registered Charities)Diversity of charity and non-profit boards of directors: Overview of the Canadian non-profit sector (Statistics Canada)Canada Business Corporations Act (Government of Canada)Diversity and Inclusion in Non-profit Leadership in Ontario: Are We There Yet? (Diversity Institute & Civic Action 2023)The 50-30 Challenge BoardShift by CivicActionLearn more and listen to the full interviews with the guests here.

In May 2023, the Inland Revenue Board (IRB) made the decision to withdraw Assunta Hospital's tax exemption status,because the agency believed that the hospital had violated several conditions of its tax exemption status. Dr Veerinderjeet Singh, Senior Advisor on Tax Policy, KPMG explains who and how to qualify for tax exempt status comes under Section 44 (6) of the Income Tax Act 1967 (ITA).Image Credit: shutterstock.com

This week, I am joined by Richard Myers, Tax and Estate Planner at Odlum Brown Financial Services Limited, to discuss the proposed changes to the Income Tax Act and the capital gains inclusion rate. We dive into the details: how will this change affect individuals, corporations and trusts?--Follow The Financial Long Game:Website - http://odlumbrown.com/FinancialLongGameApple Podcasts - https://podcasts.apple.com/ca/podcast/the-financial-long-game/id1723891225Spotify - https://open.spotify.com/show/1rHyrg4b5Eq5EGJ8EiHksNAmazon Music - https://music.amazon.com/podcasts/f1fa0b03-e006-42b3-914a-e91e50644f43/the-financial-long-gameFollow Shelly Appleton-Benko:Website - https://www.odlumbrown.com/advisors/advisor-detail/shelly-appleton-benkoLinkedIn - https://www.linkedin.com/in/shellyappletonbenko/?originalSubdomain=caFollow Odlum Brown:Website - https://www.odlumbrown.com/X - https://twitter.com/Odlum_BrownLinkedIn - https://ca.linkedin.com/company/odlum-brown-limitedInstagram - https://www.instagram.com/odlumbrown/

Prime Minister Christopher Luxon said the Government is currently looking into tax legislation for charitable entities, hinting that he wants charities who run like profitable businesses to pay tax.  Charity Researcher Dr Michael Gousmett tells Heather du Plessis-Allan that New Zealand has been a little slow on updating its legislation. Legislation introduced in 1891 never expected commercial operations of today's scale.  Dr Gousmett says there is a provision in the Income Tax Act that could solve this problem without needing to change any legislation at all, but that it would be very difficult to ascertain how much tax companies would pay.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

Physician Empowerment Masterclass Faculty Member and tax lawyer Jason Pisesky returns to the show to talk with Dr. Wing Lim about capital gains in real estate investments. Jason and Wing explore everything to do with real estate from tax to property depreciation and personal versus corporate real estate purchases.Jason addresses how the Income Tax Act applies to real estate and the nuances involved with the PRE or Personal Residence Exemption. He explains some of the insights that apply to buying and flipping houses, up markets and down markets, and depreciable capital property. Personal versus corporate purchases, income versus capital gain, and active versus passive axis are discussed in broad terms, enough to give a clearer understanding of what Jason will be addressing in greater detail in future episodes and at the Physician Empowerment Live Conference in Toronto in May. The knowledge Jason shares is foundational and directly applicable to anyone with an investment mindset.–About Jason Pisesky:Jason is a tax lawyer with an international accounting firm, KPMG. His practice background is extensive and includes personal and corporate tax planning as well as litigation and dispute resolution. Whether you are scaling up your practice or winding it down, proper coordination between a tax lawyer and your accountant can ensure you're doing it right.Jason is one of Physician Empowerment's professional Masterclass Faculty members.__ Interested in going further in your financial journey? Join our national conference and meet the PhE team live in Toronto this May 25 and 26th: https://www.physempowerment.ca/live __Physician Empowerment: Register for the Physician Empowerment Live Conference in Toronto on May 25 - 26, 2024Join the Physician Empowerment Masterclass now

Was 1913 the year that sealed America's fate, transforming it forever? In this must-watch, insightful episode of "Create Your Own Life," I, Jeremy Ryan Slate, take you on a deep dive into the pivotal events of 1913 that arguably stripped America of its sovereignty. With my background in history and years of dedicated research, I bring a unique perspective to these critical moments in time. We'll explore the Income Tax Act, the 17th Amendment, and the Federal Reserve Act—three monumental changes that continue to shape our nation's problems and sovereignty issues. This episode is not just a historical analysis; it's a call to action, offering solutions on how we can address these century-old decisions. Join me in this controversial, thought-provoking journey as we dissect how 1913 might have been the year America ceased to be a republic. Whether you're a history aficionado, a political enthusiast, or someone deeply concerned about America's future, this episode promises a fresh, analytical perspective on issues often glossed over. Your engagement is crucial. Comment your thoughts, like if you find the content enlightening, and subscribe to be part of a community that dares to challenge mainstream perspectives. Share this video to ignite conversations about America's past, present, and future sovereignty. Support our mission to enlighten and inspire by checking out our sponsors—products and services we trust and recommend. Dive deeper into the topics we discussed by visiting our website, and follow us on social media to join the conversation on America's fate and how we can reclaim our republic. Your voice matters in shaping a future informed by our past. Let's create change together.

Was 1913 the year that sealed America's fate, transforming it forever? In this must-watch, insightful episode of "Create Your Own Life," I, Jeremy Ryan Slate, take you on a deep dive into the pivotal events of 1913 that arguably stripped America of its sovereignty. With my background in history and years of dedicated research, I bring a unique perspective to these critical moments in time. We'll explore the Income Tax Act, the 17th Amendment, and the Federal Reserve Act—three monumental changes that continue to shape our nation's problems and sovereignty issues. This episode is not just a historical analysis; it's a call to action, offering solutions on how we can address these century-old decisions. Join me in this controversial, thought-provoking journey as we dissect how 1913 might have been the year America ceased to be a republic. Whether you're a history aficionado, a political enthusiast, or someone deeply concerned about America's future, this episode promises a fresh, analytical perspective on issues often glossed over. Your engagement is crucial. Comment your thoughts, like if you find the content enlightening, and subscribe to be part of a community that dares to challenge mainstream perspectives. Share this video to ignite conversations about America's past, present, and future sovereignty. Support our mission to enlighten and inspire by checking out our sponsors—products and services we trust and recommend. Dive deeper into the topics we discussed by visiting our website, and follow us on social media to join the conversation on America's fate and how we can reclaim our republic. Your voice matters in shaping a future informed by our past. Let's create change together.

In part three of our pensions law episode with Ross Gascho, we chat about how recent Income Tax Act amendments can provide more flexibility as to how defined contribution pensions plans can correct for under-contributions and over-contributions. ✨ Read the full episode transcript HERE ✨ Learn more about the topics/cases on the Lawyered website✨ Help to declutter the law on the Lawyered crowdfunding page

This week on the Tuesday Wire, Milly has her weekly catch-up with the National Party's Dr Shane Reti, and speaks to him about Housing Minister Chris Bishop's most recent speech delivered last week. In the speech, Chris Bishop revealed a number of changes regarding legislation and policy to do with the current build-to-rent scheme, including changes to the Overseas Investment Act and to the Income Tax Act. Dr Shane Reti and Milly discuss the current issues to do with housing and the party's plans to help ease the pressure on the housing market. 

The government, in the Finance Act, 2022, introduced a new section 194R to the Income Tax Act, 1961. It makes it mandatory for resident Indians to pay a 10 per cent tax on benefits received by them. Section 194R makes it mandatory to deduct 10 per cent tax at source on the value of any benefit or perquisite received by a resident Indian. This section was introduced by the government to widen the tax base and reduce tax evasion in the country. Experts, however, have flagged several concerns.   Are there any exceptions to the act? The section will not apply if the value of "benefit" or “perquisite” provided is less than Rs 20,000. It is also not applicable to an Individual or HUF with turnover not exceeding Rs 1 crores for business or Rs 50 lakhs for a professional in the immediately preceding year in which the benefit was provided. Why is it perplexing experts? The threshold prescribed under section 194R does not sync with the threshold prescribed under section 56. Under section 56, if the receipt of benefits by an individual or a Hindu Undivided Family (HUF) exceeds Rs 50,000 in a year, they are liable to pay a tax on it. However, under section 194R, the limit is Rs 20,000. According to experts, this would lead to tax outflow which is actually exempt in the hands of the recipient. The term 'benefit' or 'perquisite' is not defined in the Act. The government had earlier stated that the receipt may be in cash or kind, but no clear definition was provided. This would lead to additional administrative challenges. It will also be difficult to calculate the exact valuation of “benefits in kind” and it would make compliances more cumbersome. The act also brings samples received by doctors and travelling and other benefits received by influencers under its ambit. What can a taxpayer do if both sections 194R and 56 apply to the situation? Amrita Bhatnagar, associate director, at RBSA Advisors says that due to a lack of clear guidelines, they must pay the higher tax and claim the refund later through the income tax return (ITR). However, the government has not yet issued any clarification on these complications.

Any income or loss that is made from sale of equity shares is covered under the head ‘capital gains'. Income under this head is further classified into long term capital gains and short term capital gains based on the holding period of the shares. Holding period takes into account the duration for which the investment is held beginning from the date of acquisition to the date of sale or transfer. For income tax purposes, the holding periods for listed equity shares and equity mutual funds are different from that of other asset classes. If equity shares listed on a stock exchange are sold within a year of purchase, the seller may make short term capital gain (STCG) or incur a short-term capital loss (STCL). The seller makes short-term capital gain when shares are sold at a price higher than the purchase price. Short-term capital gains are taxable at 15 per cent -- irrespective of the tax slab the investor falls under. Any short term capital loss from sale of equity shares can be offset against short-term or long-term capital gain from any capital asset. If the loss is not set off entirely, it can be carried forward for eight years and adjusted against any short term or long term capital gains made during these eight years. A taxpayer will only be allowed to carry forward losses if he has filed his income tax return within the due date.   If equity shares listed on a stock exchange are sold after 12 months of purchase, the seller may make a long-term capital gain (LTCG) or incur a long-term capital loss (LTCL). Until March 31, 2018, long-term capital gain made on the sale of equity shares or equity-oriented units of mutual funds was exempt from tax. But the rules changed from April 1, 2018. Now if a seller makes a long-term capital gain of more than Rs 1 lakh on the sale of equity shares or equity-oriented units of a mutual fund, the gain made will attract a long term capital gains tax of 10 percent -- plus applicable cess. Also, the benefit of indexation will not be available to the seller. Any long term capital loss from a transfer made on or after April 1, 2018 will be allowed to be set-off and carried forward according to the existing provisions of the Income Tax Act. So, the long-term capital loss can be set-off against any other long-term capital gain. Such loss can also be carried forward for subsequent eight years.

Global Policy Watch #1: How the Sri Lankan Economy UnraveledInsights on policy issues making news around the world— RSJWhat people do when they storm palaces is broadly instructive about what comes next.In 1792, the French insurgents determined to end whatever remained of the ancien regime stormed the palace of Tuileries and confronted the Swiss Guards who were defending the palace on the orders of Louis XVI. Blood, gore and massacre followed, at the end of which about eleven hundred combatants were killed. These included, as J.M. Thomson wrote in his history of the French Revolution:..common citizens from every branch of the trading and working classes of Paris, including hair-dressers, harness-makers, carpenters, joiners, house-painters, tailors, hatters, boot-makers, locksmiths, laundry-men, and domestic servants.The Bolsheviks were not to be outdone on the night of October 25, 1917, when they assaulted the Winter Palace at St. Petersburg on the orders of Lenin. The insurrectionists barely met with any resistance from the yunkers, the Cossacks and the women’s battalion guarding the palace. To quote John Reed from Ten Days That Shook The World (1935):On both sides of the main gateway the doors stood wide open, light streamed out and from the huge pile came not the slightest sound. Carried along by the eager wave of men, we were swept into the right hand entrance, opening into a great bare vaulted room, the cellar of the East wing, from which issued a maze of corridors and stair-cases. ...One man went strutting around with a bronze clock perched on his shoulder; another found a plume of ostrich feathers, which he stuck in his hat. The looting was just beginning when somebody cried, ‘Comrades! Don't touch anything! Don't take anything! This is the property of the People!’ Immediately twenty voices were crying, ‘Stop! Put everything back! Don't take anything! Property of the People!’ Many hands dragged the spoilers down. Damask and tapestry were snatched from the arms of those who had them; two men took away the bronze clock. Roughly and hastily the things were crammed back in their cases, and self-appointed sentinels stood guard. It was all utterly spontaneous. Through corridors and up stair-cases the cry could be heard growing fainter and fainter in the distance, ‘Revolutionary discipline! Property of the People.’The Filipinos did things a bit differently on Feb 24, 1986. As this news report suggests:It started with a rock fight, then the gate was opened for a few photographers and the crowd pushed through into the palace the Marcos family occupied for 20 years, shouting and grabbing anything they could carry. They snatched clothes, shoes, perfume, monogrammed towels. Some wolfed food from the table at which Ferdinand E. Marcos and his family had dined before leaving in American helicopters for Clark Air Base and flight from the country.Thousands of people were outside Malacanang Palace when the photographers arrived Tuesday night. Supporters of Corazon Aquino, who became president when Marcos fled, and Marcos loyalists started throwing rocks at each other.They rushed through the gate, turning left to the administration building or right to the living quarters. Marcos loyalists followed them. The fights and looting started. Cheering, the rioters climbed on top of three tanks. One grabbed an ammunition belt. Others took guns.Cut to present-day Sri Lanka. It has a foreign debt of over US$ 50 billion. Its foreign exchange reserves are about US$ 50 million. Inflation is running at over 50 per cent. The Sri Lankan Rupee has fallen by 80 per cent since the start of the year. What’s worse is that no one knows who is keeping score.Former President Gotabaya Rajapaksa fled the country this week. Right now, he is in Singapore negotiating his asylum with friendly countries in the middle-east (why not China?). His brothers couldn’t get out of Sri Lanka in time. Gotabaya’s military plane didn’t possibly have space for two more passengers. Blood is thinner than aviation fuel. The other forty-odd members of the clan who hold various constitutional and government posts have gone into hiding. The time was ripe for an attack on the Presidential palace. And it happened, as they say, duly. But this is how the Lankans did the storming (Photos: Arun Sankar/AFP)​To misquote Tolstoy: happy citizens are all alike. Unhappy citizens are unhappy in different ways.Though unhappy, Sri Lankans look suspiciously upbeat here. So, one thing can be said for sure. There won’t be a revolution in Sri Lanka. The Lankans are a resilient, patient and easygoing lot. They have endured tough times in the past four decades. Now that the Rajapaksas are out of the frame, a national government is likely to be formed; a deal might get worked out with the multilateral agencies involving restructuring of debt, fresh borrowings from friendly countries, and prolonged pain of austerity for the rest of the decade. They will probably muddle through as they have done for much of their independent history. That apart, it is useful to appreciate how Sri Lanka ended up here. There are public policy lessons there.  There are two lenses to apply. The first is the structural weakness in the Sri Lankan economy that has persisted for a long time. Then there is the proximate cause of the recent past that led to sovereign debt default and bankruptcy. We will examine both here.The Achilles' HeelIn 1948, the British left Sri Lanka (then Ceylon) with an economy that was quite similar to the many similar resource rich nations of the time. Manufacturing was non-existent, banking services were limited to a couple of cities and the mainstay of the economy was the exports of tea and rubber which were vulnerable to commodity cycles. However, it started with a good base of foreign reserve surplus that could cover imports for over a year. With this starting point, the obvious policy measures should have came into play. One, develop a manufacturing sector (public and private) that stimulates growth in the economy and reduces the dependency on imports of intermediates and finished products. Two, to develop the banking sector and create development finance institutions that could provide credit for this transition in the economy. Neither happened. In fact, the focus on the plantation economy deepened in the decade after independence. The foreign reserve surplus soon turned to a deficit as Sri Lanka continued to import higher-value goods, and the government found it difficult to raise revenues to support its spends as its population increased. By the mid-60s, Sri Lanka was contending with both a fiscal deficit and a current account deficit. The classic twin deficit pincer that low-income economies get caught in. Over the last six decades, it has struggled to come out of it. The reasons could be many - lack of domestic savings, absence of development finance institutions, inability to attract other sources of foreign capital like direct investment instead of debt and political instability and a long civil war that didn’t help the economy. Things didn’t go badly for Sri Lanka only in the last few years. Its economy was always fragile, as the seventeen different IMF bailout packages that started in 1965 indicate. See the table below for the history of IMF bailouts (SDR = Special Drawing Rights).The comparison with India during the same period is useful. India chose the more inefficient state-led industrialisation and capital creation model and overdid it by the 70s with the nationalisation of the banks. But it led to the creation of a manufacturing sector and the availability of credit. India also created relatively strong institutions for a developing economy during that time. That meant we avoided a sovereign debt default scenario till 1991. The Indian state, after having generated the initial impetus, should have gotten out of most of these areas by the mid to late 70s. But that’s another story. Sri Lanka never built that core capacity, nor did it follow the model of the ‘tiger’ economies of creating national champions in select sectors. In the early 80s it ‘opened’ its economy on the behest of the IMF that made these conditions collateral for further bailouts. The dismantling of duties and exchange controls made Sri Lanka even more dependent on imports as its nascent industries couldn’t compete with the foreign goods flooding in. The twin deficit continued to worsen and further de-industrialisation set in. There are things Sri Lanka is commended for during this time. It has the best HDI metrics in the region, with good quality healthcare and education available to its citizens. These should lead to better economic outcomes, provided the structural issues are addressed. That these metrics themselves were built on foreign debt makes their sustainability suspect. Over-indexing on one measure while avoiding a comprehensive cost-benefit analysis and the unintended consequences is an old public policy error.  Why did things go from bad to worse in the past few years? Two things happened. One, the composition of Sri Lankan debt changed for the worse. Sri Lanka issued international sovereign bonds (ISBs) at attractive coupons that got in global fund houses into the mix with more dollar-denominated debt. China, too, got into the game with large infrastructure projects that have ended up as the proverbial white elephants. The chart below shows how its foreign debt stood in 2021.The market borrowings now contributing to 47 per cent shot up in the last decade. This fresh source of funds further lulled the policymakers. The government continued to spend and feed domestic consumption without a plan to control the fiscal deficit while borrowing to build infrastructure and pay for imports. In 2019, Gotabaya came into power, promising to reverse these policies. But the ‘strong man syndrome’ took over. There were bold initiatives announced with minimal debates and understanding of likely scenarios that could emerge. Corporate taxes and VAT were slashed in the hope of an economic boost. That didn’t come because there wasn’t an industrial base that could take advantage of this. The fall in tax revenues widened the fiscal deficit and increased the government’s borrowing from the central bank. The pandemic hit tourism, a significant contributor to the economy and a source of precious foreign exchange. The widening current account deficit had to be controlled, leading to another bold idea. The government announced an overnight transition to organic farming and banned the import of synthetic fertilisers and pesticides. There was no real conviction to organic farming here. It was just a means to reduce the import burden and bring the current account deficit under control. The consequences were disastrous. Paddy production fell over 20 per cent, and there was an immediate food shortage. Tea production suffered, and exports fell. Then the Ukraine war sent oil beyond US$ 100 a barrel, which was the last straw. The central bank supplied over US$ 2 billion in the past 12 months to import essential items. But eventually, they all ran out of runway. And we got here.Of course, Sri Lanka's historical structural weakness is a factor to blame for its troubles. But you cannot take away the hubris of strong man decision-making that aggravated its situation in the last three years. Policy-making requires debates, scenario planning, anticipating the consequences and above all, strong institutions to take an independent, objective view of decisions. Bypassing them and going by instinct might seem like strong leadership, but the odds are stacked against good outcomes coming from them. Matsyanyaaya: Ignorance Breeds BiasBig fish eating small fish = Foreign Policy in action— Pranay KotasthaneWhen our level of understanding of another country is poor, we resort to cognitive shortcuts to make sense of the news coming from there. We interpret happenings in a way that reaffirms our current fears, hopes, and anxieties.While parsing information about a stronger adversary, we start with a sense of awe. When a weaker adversary makes it to the headlines, we start from a position of derision. Similarly, when we interpret information from a stronger ally, we amplify news that shows us in good light with respect to the ally. As for a weaker ally, our starting point is self-aggrandisement.Excessive reliance on these cognitive blinkers indicates that we don’t know enough about another country. And since we don’t know enough, we cannot differentiate between trash takes and informed opinions, rumours and facts, and between motivated actions and serendipity. It is easy to see these blinkers in action on social media discussions on Indian foreign policy issues.Take, for instance, what happened in the US earlier this week. House Rep Ro Khanna proposed an amendment to the National Defense Authorization Act 2023. Amongst other things, the amendment had these lines: While India faces immediate needs to maintain its heavily Russian-built weapons systems, a waiver to sanctions under the Countering America’s Adversaries Through Sanctions Act during this transition period is in the best interests of the United States and the United States-India defense partnership to deter aggressors in light of Russia and China’s close partnership.The House passed the amendment. Immediately, Indian media and commentariat pronounced that the US had given India a CAATSA waiver. My first reaction was no different. I realised later that this amendment only urges the Biden administration to provide India with a CAATSA waiver since the authority to take this decision lies with the executive branch. Unsurprisingly, there’s not a single mention of this amendment in the top American newspapers (I checked WSJ, WaPo, and NYT). Still, we had already given ourselves a strategically autonomous pat-on-the-back here in India. There are several other instances as well. In Feb 2018, a 26-member committee of the Pakistani Senate passed a resolution for the promotion of the Chinese language in Pakistan. Within minutes, Indian media was reporting that Pakistan has made Mandarin an official language of Pakistan! Someone just picked up a piece of bad news reporting from a Pakistani YouTube channel and assumed the worst. The sense of ridicule was almost instantaneous, and few stopped to consider how the official language of a State could be decided by a Senate Committee consisting of 20-odd members?Of course, these cognitive shortcuts are the easiest to find in Indian discussions on China. Because we understand so little about its culture, language, and politics, we almost always solely rely on our preconceived notions. So, we are absolutely confident that the Sri Lankan economy faltered only because of China’s debt-trap diplomacy, that China’s already deployed AI for advanced decision-making in military systems, or that China’s social credit system is a real-life incarnation of the Black Mirror episode, Nosedive. The reality is quite different, but these narratives occupy prime positions in our discourse. Can we train ourselves to not succumb to these cognitive shortcuts? Perhaps. Political Scientist Yiqin Fu has a really good solution set in the context of poor understanding of China in the US. She proposes four ways out:Tying more of one’s payoffs to what is happening in the target country as opposed to how news from the target country makes you feel would incentive you to form more accurate beliefs. Participating in online prediction markets or having some exposure to the target country’s financial markets would be a concrete example.The ultimate solution is to expand your knowledge.. as you can so that you are qualified to judge a wider pool of sellers (commentators).. A realistic approach could be talking to friends or following people with different skill profiles. Together you would be capable of evaluating commentary on a broader set of issues.Give more weight to commentary that uses systematic evidence… where applicable, the quality of commentary that cites systematic evidence is generally superior to those that do not.People on the knowledge frontier of any given issue bear special responsibility to amplify analyses they find reasonable, including those that reach conclusions they disagree with. On issues at the intersection of many niche areas, the average consumer has no way of distinguishing between analyses that are “reasonable but different from mine” and those that “rely on complete falsehoods.” So experts ought to share all commentary they find reasonable, regardless of how much they agree with the conclusion. As a footnote, its useful to consider that the “CAATSA has been waived off” cognitive shortcut indicates one of two things:some of us are intuitively assuming that US domestic politics has a better appreciation of India’s worldview. And hence, we are ready to jump to the conclusion that the US has already waived off these sanctions. We are seeing what we want to see. Given the chequered past of the US-India relationship, even this mistaken assumption is a positive sign.However, I think most people are intuitively assuming that India is entitled to a waiver. A lot of Indians are convinced that the US cannot counter China without India on its side. And so, they interpreted the CAATSA amendment news as a reaffirmation of India’s global importance.It is also interesting to consider if these mistaken assumptions will impact the Biden administration’s calculus on the waiver. Since many Indians are already convinced that India has got a CAATSA waiver, can it now afford to impose sanctions? The answer, of course, depends on a whole lot of other factors. Nevertheless, our cognitive shortcuts about another country reveal a lot about ourselves. Course Advertisement: Admissions for the Sept 2022 cohort of Takshashila’s Graduate Certificate in Public Policy programme are now open! Apply by 23rd July for a 10% early bird scholarship. Visit this link to apply.A Framework a Week: Things Governments DoTools for thinking public policy— Pranay Kotasthane(This post was first published in March 2018 on Indian National Interest)A typology of government actions can be extremely helpful. Faced with a policy problem, such a typology can serve as a menu of actions that governments can respond with. Various policy solutions can then be seen in this comparative framework:might action X be the better way to solve this policy problem?why would the government employ action X over other actions?what are the disadvantages of using action X over other actions?Surprisingly, I came across only a few typologies of government actions. One by Michael O’Hare and the other by Eugene Bardach.O’Hare’s 1989 paper A Typology of Government Action says: all legitimate government behaviour can be classified in eight classes.Note how this classification does not include things like laws, rules, and procedures — actions that we associate most commonly with a government. The reason is that these three are methods to implement the chosen government action. As such, a law can be a chosen method for many government actions: to prohibit (example: Prohibition of Child Marriage Act, 2006), to tax (example: Income Tax Act, 1961) and to subsidise (example: the Hajj Committee Act, 1959).Eugene Bardach’s typology in A Practical Guide for Policy Analysis is the second one I came across. It classifies government actions into these categories:1. Taxes (add, abolish, change rates, tax an externality)2. Regulation (entry, exit, output, price, and service levels)3. Subsidies and Grants (add, abolish, change formula)4. Service Provision (add, expand, organise outreach, reduce transaction costs)5. Agency budgets (add, cut, hold to last year’s level)6. Information (require disclosure, govt rating, standardise display)7. Structure of Private Rights (contract rights, liability duties, corporate law)8. Framework of Economic Activity (control/decontrol prices, wages, and profits) 9. Education and Consultation (Change values, upgrade skills, warn of hazards) 10. Financing and Contracting (leasing, redesigning bidding systems, dismantle PSU) 11. Bureaucratic and Political ReformsHomeWorkReading and listening recommendations on public policy matters[Article] Ajay Shah on improving resilience against extreme surges in demand.[Blog] Noah Smith has an excellent post on the Sri Lankan economic crisis.[Book] Carrots, Sticks and Sermons — another useful classification of policy instruments This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com

In our last episode of CharityVillage Connects, which explored alternative revenue streams for nonprofits, we touched on a piece of legislation that, if enacted, could have a dramatic impact on how charities do their work. Bill S-216, otherwise known as the Effective and Accountable Charities Act, seeks to amend the Income Tax Act to empower charities by allowing them to more effectively collaborate with a wider range of organizations, including those without charitable status, which the Act refers to as “non-qualified donees”. Proponents of the Bill say the amendments are necessary to get rid of burdensome and expensive redtape and outdated legal bureaucracy.  But the key shift proposed by Bill S-216 is much more aspirational: to eliminate the deeply-rooted and historic paternalism that many see embedded in the current rules about how charities can operate. In this episode, we speak with Senator Ratna Omidvar, sponsor of Bill S-216, and with other nonprofit sector experts to explore the pros and cons of this legislation, as well as the deeper implications of what it means for Canadian charitable organizations if it becomes law.Meet Our Guests in Order of Appearance ·        The Honourable Ratna Omidvar, Senator for Ontario, The Senate of Canada·        Susan Manwaring, Partner at Miller Thomson LLP·        Cathy Taylor, Executive Director of the Ontario Nonprofit Network·        Mark Blumberg, Partner at Blumberg Segal LLP·        Bill Mintram, Director Indigenous and Northern Relations at Rideau Hall Foundation·        Kris Archie, Chief Executive Officer of The Circle on Philanthropy and Aboriginal Peoples in Canada (The Circle)  About your HostMary Barroll, president of CharityVillage, is an online business executive and lawyer with a background in media, technology and IP law. A former CBC journalist and independent TV producer, in 2013 she was appointed General Counsel & VP Media Affairs at CharityVillage.com, Canada's largest job portal for charities and not for profits in Canada, and then President in 2021. Mary is also President of sister company, TalentEgg.ca, Canada's No.1, award-winning job board and online career resource that connects top employers with top students and grads.Resources from this EpisodeWe've gathered the resources from this episode into one helpful list:·        Bill S-216: The Effective and Accountable Charities Act·        Speech on Bill S-216 (The Honourable Ratna Omidvar)·        Open Letter by Charity Lawyers in Support of Bill S-216·        Unfunded: Black Communities Overlooked by Canadian Philanthropy (Foundation for Black Communities)·        Canadian charities giving to Indigenous Charities and Qualified Donees – 2018 (Canadian Charity Law)·        Concerns about Bill S-216 (Mark Blumberg)·        Orange Shirt Day·        Budget 2022 (Government of Canada News Release)·        Nonprofits brief MPs on impact of key legislation (Imagine Canada)·        Bill introduced in House of Commons to remove ‘direction and control' (The Philanthropist)·        The new qualifying disbursements rules: An improvement? (Miller Thomson LLP)Learn more and listen to the full interviews with the guests here.

FREE report 7 Simple Steps to Becoming Your Own Banker –  http://7steps.ca/    Wealth Without Bay Street EPISODE 117: Joining us today is Henry Wong to talk about taxation on your business that may happen after you're gone. Henry is a professional CPA and trains other CPA's across Canada specialising in taxation and passing through the nationals exams. He chanced upon the book “Becoming Your Own Banker” and began to piece together all his knowledge of life insurance and financial accounting and soon began to pursue the journey of becoming his own banker. Henry now trains others as an accountant in how to build their own personal capital pool and manage their taxation through IBC.    IN THIS EPISODE, YOU WILL LEARN:  0:00 Introduction 2:04 Something to Think About as a Business Owner 5:18 Second Death and Income Tax Act in Canada 7:46 What is the Deemed Disposition 11:33 How Can This Affect the Business 15:52 Capital Flow of a Business 19:03 Levels of Taxes and Extracting Tax 22:36 Value of The Business Owner  24:44 Working Together With the CPA 28:38 Estate Planning and Deemed Disposition 37:33 Wind-up and Carry Back 39:48 Pipeline Restructure 44:17 Working With a Good Team 47:08 Succession Planning 50:01 Utilizing Term Insurance 56:17 Need For Insurance 1:01:21 What's Best For You and Your Business   

FREE report 7 Simple Steps to Becoming Your Own Banker -  http://7steps.ca/    Wealth Without Bay Street EPISODE 117: Joining us today is Henry Wong to talk about taxation on your business that may happen after you're gone. Henry is a professional CPA and trains other CPA's across Canada specialising in taxation and passing through the nationals exams. He chanced upon the book “Becoming Your Own Banker” and began to piece together all his knowledge of life insurance and financial accounting and soon began to pursue the journey of becoming his own banker. Henry now trains others as an accountant in how to build their own personal capital pool and manage their taxation through IBC.    IN THIS EPISODE, YOU WILL LEARN:  0:00 Introduction 2:04 Something to Think About as a Business Owner 5:18 Second Death and Income Tax Act in Canada 7:46 What is the Deemed Disposition 11:33 How Can This Affect the Business 15:52 Capital Flow of a Business 19:03 Levels of Taxes and Extracting Tax 22:36 Value of The Business Owner  24:44 Working Together With the CPA 28:38 Estate Planning and Deemed Disposition 37:33 Wind-up and Carry Back 39:48 Pipeline Restructure 44:17 Working With a Good Team 47:08 Succession Planning 50:01 Utilizing Term Insurance 56:17 Need For Insurance 1:01:21 What's Best For You and Your Business   

In this episodeIn our first CharityVillage Connects episode we explored how COVID-19 forced organizations to quickly rethink their traditional fundraising initiatives, such as in-person events and galas. In this episode, we carry the conversation further by considering the dramatic shifts currently taking place in Canadian nonprofit funding models and revenue sources, including social enterprise, so-called “patient” loans, and impact investing. In addition to discussing how these initiatives can help support administration costs and capacity building, we look at the chilling effect of the WeCharity scandal on nonprofit organizations' willingness to embrace these new models.Join our host, CharityVillage President Mary Barroll, as she speaks to sector experts about the risks and rewards that Canadian charities and nonprofits must think about as they look to diversify their revenue and engage in alternative funding models. Meet our guests in order of appearance  Kristy Rivait, Co-Founder of Scale Collaborative Elisa Birnbaum, Publisher & Editor-in-Chief of SEE Change Magazine Dan Kershaw, Executive Director of Furniture Bank Mark Blumberg, Partner at Blumberg Segal LLP The Honourable Ratna Omidvar, Senator for Ontario, The Senate of Canada  About your hostMary Barroll, president of CharityVillage, is an online business executive and lawyer with a background in media, technology and IP law. A former CBC journalist and independent TV producer, in 2013 she was appointed General Counsel & VP Media Affairs at CharityVillage.com, Canada's largest job portal for charities and not for profits in Canada, and then President in 2021. Mary is also President of sister company, TalentEgg.ca, Canada's No.1, award-winning job board and online career resource that connects top employers with top students and grads.Resources from this EpisodeWe've gathered the resources from this episode into one helpful list: CharityVillage Connects: Post-Pandemic Fundraising and Beyond Catalyst for Change: A Roadmap to a Stronger Charitable Sector (Senate Canada) Thrive Impact Fund Bill S-216: An Act to amend the Income Tax Act (use of resources of a registered charity) August 2021 Sector Monitor (Imagine Canada) Learn more and listen to the full interviews with the guests here.

Trudeau's government censorship panel says, because of that, we are not legally a, quote, “qualified Canadian journalism organization” — or QCJO as they call it. That's a special legal term they've come up with. As the words plainly mean, it's government journalism accreditation. It's a government journalism licence. So, not only does that mean we're not allowed to attend government press conferences, it also punishes us under Income Tax Act. GUEST: Sheila Gunn Reid on the cross-examination of Alberta's Chief Medical Officer of Health, Dr. Deena Hinshaw.

The government in the Union Budget for 2022-23 introduced new provisions aimed at taxing and tracking Virtual Digital Assets. Along with the framework for taxation, the Budget for the first time defined virtual digital assets.  The Finance Bill has defined virtual digital assets in the newly-inserted clause (47A) under Section 2 of the Income Tax Act, 1961.  Regardless of the nomenclature uses, VDA has been defined to mean any information or code or number or token generated through cryptographic means or otherwise. And which can be transferred, stored or traded electronically. Apart from the above three criteria, one of the following two conditions needs to be fulfilled to qualify as a VDA.  The definition of VDA also specifically includes non-fungible token, i.e. NFT, or any other token of similar nature, by whatever name is called. The definition of NFT will be specified by notification by the Central Government.  Generally speaking, an NFT is a digital asset that exists on a blockchain, allowing anyone to verify its authenticity and who owns it. Digital art, images, videos, text, music and even virtual real estate and in-game items can be bought and sold as NFTs.  The Finance Bill also authorises the government to specify any other digital asset as a VDA or exclude any digital asset from the definition of VDA.  Notably, Indian currency and foreign currency as defined under the Foreign Exchange Management Act, 1999, have been excluded from the ambit of VDAs.  While VDA includes cryptocurrencies, the definition can cover a wide variety of digital assets which is implied by the wording ‘or otherwise' in the phrase “generated through cryptographic means or otherwise”. The definition is also made exhaustive with the words ‘information', ‘code', ‘number'.  Because of the broad definition, VDAs can potentially include vouchers, reward points issued by shopping sites or credit card companies, airline miles etc. Experts have sought clarifications from the government. They fear the scope of VDA may impact digital assets created by companies.   Watch video

Gaurav Karnik tells Vandana Ramnani that there is a need to hike the Rs 2 lakh tax rebate on housing loan interest rates under Section 24 of the Income Tax Act to at least Rs 5 lakh. If that happens, then you may see more people wanting to buy houses because it will then become more viable to do so. With more money in their hands, buyers would be in a better position to service the loan, he explains. There may also be something for people who want to or have already put their house on rent as the focus of the Budget is expected to be on Housing for All. He also talks about the need to relook at the definition of affordable housing to extend the benefit of additional deductions to more buyers. Rs 45 lakh may be a good definition for affordable housing in smaller towns but not so in metros such as Delhi and Mumbai. This limit should be increased to up to Rs 1 crore, he signs off.

December 31, 2021 - the extended due date for individuals to file income tax returns for the assessment year 2021-22 – has just passed by. Despite several requests from individuals and chartered accountants' associations for another extension, finance minister Nirmala Sitharaman ruled out any further extension.  During the last few days, many complained that they were not able to access the income tax return e-filing portal or faced glitches in the final hours of the December 31 deadline. Those who failed to file income tax returns on time will now have to file a belated return under section 139 (4) of the Income Tax Act, 1961 before March 31, 2022. While you can exercise this option, it comes with a cost. For one, you will have to shell out a penalty of Rs 5,000 for delayed return  filing. This amount is restricted to Rs 1,000 if your income is less than Rs 5 lakh. Also, you wil not be entitled to interest on tax refund due, if any. Moreover, you will not be able to carry forward or set off any losses incurred in financial year 2020-21.  Also, those who completed the exercise before December 31 should not forget to verify the income tax returns filed. You have a window of 120 days from the date of having filed the returns to do so, without which, your returns will not be considered valid. You can either do it through the traditional, physical route or the electronic modes.  Tune into Simply Save for insights from Preeti Khurana, Director, Regulation and Advocacy, Clear on consequences of not filing return before due date and the process for filing a belated return in such cases. 

The Reserve Bank of India (RBI) kept the key policy rates unchanged last month. It helped the banks to keep the interest rates on home loans low. Some lenders even went on to slash it further to support the ongoing recovery.    Housing Development Finance Corporation, or HDFC, India's largest housing finance company, is offering home loans at interest rates starting at 6.7% to new applicants, regardless of the loan amount or employment category. It has joined State Bank of India and Kotak Mahindra Bank in bringing down the home loan rates in the recent months. Kotak Mahindra Bank is offering a rate of 6.55% per annum for a limited period, while SBI is offering home loans starting at 6.7%. Home loan interest rates slipped below 7% last year. A big factor that decides the interest rate is the credit score of the borrower. For example, HDFC is offering its special rate to those who have a credit score of 750 and above. Other factors include the homebuyer's age and income.  HDFC Managing Director Renu Sud Karnad has said that record low interest rates, government subsidies and tax benefits have helped homebuyers.    The interest rates have fallen on the back of the Reserve Bank of India's liquidity infusion measures to support growth and credit uptake after the pandemic battered the economy. For now, the home loan rates seem to have bottomed out.  However, customers need to keep a few more things in mind before they decide to buy a house in the current scenario.   In most home loans, the interest rate is linked to an external benchmark, generally the Reserve Bank of India's repo rate. Therefore, customers will not be able to lock in at the current rock-bottom rates. The EMIs will rise as the repo rate is hiked. The repo rate was kept unchanged at a record low of 4% in the last monetary policy announcement.   One can also opt for fixed interest rate to insulate their cash outflows from market fluctuation. But the interest rates are a tad higher in it as compared to floating rates. Experts believe that the central bank may hike interest rates in the first half of 2022. RBI is also expected to slowly roll back its accommodative policies that have facilitated easy liquidity conditions. It all may lead to a hike in the interest rates. Homebuyers should also consider the cost of down payment, stamp duty, registration fee and property tax. In Noida, a stamp duty of 7% is levied on the total cost of the apartment one purchases. And the registration charge is 1%. These rates are different in every state.   Of course, buyers can claim a deduction of up to Rs 1.5 lakh for principal repayment under Section 80C of the Income Tax Act. In addition to this, a deduction of up to Rs 2lakh can be availed of on the interest payment under Section 24B.   Borrowers should also look at loan-related charges like the processing fee, administrative fee, prepayment charges, conversion charges, legal fees and inspection fees before making the big move. Buyers should try to limit their EMI to 25% of their monthly earnings. And experts say that they should invest in ready-to-move projects as it will save them the rent. And it will also protect their interest, as several projects continue to be delayed by several years.   Watch video

On this episode of In Conversation With Friedlan Law find out about the recent decision of the Federal Court of Appeal in Canada and Colitto. The decision of the Federal Court of Appeal overturned the decision of the Tax Court and the victory of the taxpayer. The central question of this case is when an assessment under paragraph 227.1 sub one of the Income Tax Act, which relates to directors liability, crystallizes, such that it can give rise to a derivative assessment under Section 160. “This in my view was a case where the proper result would have been for the Federal Court of Appeal to simply apply the text as written” - Phil Timestamps: 0.55 - Adam covers a brief review of the facts from the case 4.52 - Disagreement from the Federal Court of Appeal 7.42 - Hear Adam and Phil's analysis of the case 14.02 - Final comments on the case Resources: • >>>Read The Friedlan Law Blog - https://www.friedlanlaw.com/blog/ • >>>Find a copy of our article form commentary - https://www.friedlanlaw.com/wp-content/uploads/2020/08/1-2020-TOM-Vol20No3-Jul2020.pdf • >>>Click here to review the case - https://www.canlii.org/en/ca/fca/doc/2020/2020fca70/2020fca70.html?autocompleteStr=2020%20FCA%2070&autocompletePos=1 Connect with Friedlan Law: • >>>Find out more about Friedlan Law at their website - https://www.friedlanlaw.com/ • >>>Connect with Friedlan Law on Linkedin - https://www.linkedin.com/company/friedlan-law?trk=public_profile_topcard_current_company

Canadian Member of Parliament Larry Maguire sat down to talk to Chrissy Wozniak about his Private Member's Bill C-208, which has passed all three readings in the house. Bill C-208 is an Act to amend the Income Tax Act which addresses the transfer of a family farm, small business or fishing corporation. In the final reading of this bill, it received bipartisan support from 19 members of the liberal opposition. Of those who did not support the bill were Prime Minister Justin Trudeau, and the Minister of Agriculture.  With the passage of C-208, parents will no longer have to be given a false choice of having to choose between a larger retirement package by selling to a stranger, or a massive tax bill because they sold to a family member – their own child or grandchild.The Women in Agribusiness (WIA) Summit annually convenes over 800 of the country's female agribusiness decision-makers. The 2022 WIA Summit, September 26-28 in Dallas, TX includes presentations from Cargill's Corporate Senior Vice President, Animal Health & Nutrition, Ruth Kimmelshue; Marco Orioli, VP of Global Grain & Processing for EMEA, CHS; and Brooke Appleton of the NCGA. Learn more at https://agr.fyi/wia_register. FIRA USA 18-20 OCT. 2022 (FRESNO-CA): The only 3-day event dedicated to the California and North America market for autonomous agriculture and agricultural robotics solutions.Learn More at https://agr.fyi/fira