A Goods and Services Tax/Harmonized Sales Tax (GST/HST) rule, generally referred to as the "holding corporation rule", applies where a parent corporation (a corporation that is resident in Canada and a GST/HST registrant) incurs expenses in relation to the shares or indebtedness of a commercial operating corporation (a corporation all or substantially all of the property of which is for consumption, use or supply exclusively in commercial activities), so long as the parent corporation is related to the commercial operating corporation. This rule deems the expenses to have been incurred in relation to commercial activities of the parent corporation, which allows the parent corporation to claim input tax credits to recover GST/HST paid in respect of those expenses.
The Honourable Bill Morneau, Minister of Finance, will become an International Gender Champion, as announced on the margins of the iW50 Summit, in Paris, France. As the first Finance Minister to become an International Gender Champion, Minister Morneau is making concrete commitments to advance gender equality.
The Canadian financial system is one of the safest and soundest in the world. Canadian banks were able to maintain their access to debt and equity markets through the 2008 global financial crisis while banks from many other nations were not. Canadian banks continue to benefit from an effective and modern regulatory and supervisory regime.
The Government of Canada introduced the Canada Child Benefit (CCB) in 2016 to give low- and middle-income families more money each month, tax-free, to help with the cost of raising children. Compared to the old system of child benefits, the CCB is simpler, more generous and better targeted to those who need it most.
