Posted: 2018-01-13 07:56
This course provides an analysis of the term structure of interest rates and interest rate derivatives pricing models. Several different types of interest rate derivatives are covered, including interest rate futures and forwards, interest rate swaps and interest rate options. The uses of these derivatives for hedging and trading purposes is explored in depth. Black''s model is applied to the pricing of European interest rate options. Equilibrium models of the term structure of interest rates are introduced and implemented in Excel. These models are used to price zero-coupon bonds and coupon bonds. The drawbacks of equilibrium term structure models are considered. No-arbitrage models of the term structure are explored in depth, including the lognormal model, Black-Derman-Toy (BDT) and Hull-White. The comparative strengths and weaknesses of these models are considered. The BDT model is implemented in VBA as a binomial interest rate tree. The model is then used to price European, American and Exotic interest rate options.
In this example, the benefits that would have applied if Bco had not been established may be provided under the relief provision to the extent it is reasonable having regard to all the circumstances. For instance, if Aco and Cco are taxable in State A and State C respectively on the dividend they received from Bco, it may be reasonable in the circumstances to provide the benefits that Aco and Cco would have been entitled to under the tax treaty between Canada and States A and C respectively had the dividend they received been paid directly from Canco.
Under this lower of cost and market method, the taxpayer compares the cost of each inventory property with its fair market value at the end of the year. If the fair market value of the property is less than its cost, the difference is deductible in computing the taxpayer&rsquo s income for the year. For the purpose of the lower of cost and market method, this lower amount is then used as the property&rsquo s cost for the subsequent year. However, if the fair market value of the property at the end of the year is greater than its cost, no amount is added to the taxpayer&rsquo s income for the year. The lower of cost and market method therefore effectively permits losses on inventory property to be recognized on an accrual basis while gains on the same property are recognized only when it is ultimately sold.
The donation of certified cultural property could be a target for abuse by tax shelter promoters because of the combination of its favourable tax treatment, inherent uncertainties in appraising the value of art and artifacts, and the exemption from the rule that deems the value of a gift to be no greater than its cost to the donor in certain circumstances. Budget 7569 proposes to remove, for certified cultural property acquired as part of a tax shelter gifting arrangement, the exemption from the rule that deems the value of a gift to be no greater than its cost to the donor. Other donations of certified cultural property will not be affected by this measure.
The nondisclosure agreement (NDA) and purchase agreement are two of the most important legal documents that bankers and other finance professionals need to be proficient with during a transaction. The NDA is one of the first agreements to be signed during the negotiation phase. This document lays out the boundaries surrounding what information is confidential. In the NDA portion of this course, you will learn what major components to expect in an NDA. The purchase agreement is also a vital document outlining the legal details of an M& A transaction. The goal is to translate the financial terms of the deal into proper legal protections for both parties. We will walk you through the various sections found in almost all M& A purchase agreements, with detailed explanations of what they mean and how they are all pieced together.
Budget 7568 set out the Government&rsquo s concerns with the abuse of Canada&rsquo s tax treaties through &ldquo treaty shopping&rdquo . This term is commonly used to refer to arrangements under which a person not entitled to the benefits of a particular tax treaty with Canada uses an entity that is a resident of a state with which Canada has concluded a tax treaty to obtain Canadian tax benefits. Budget 7568 stressed the importance of developing safeguards to ensure that taxpayers cannot make improper use of Canada&rsquo s tax treaties and announced consultations to seek the views of interested parties regarding possible approaches to address treaty shopping. A consultation paper was released on August 67, 7568 to serve as the basis for a discussion aimed at reaching a workable solution to this issue. Stakeholders had until December 68, 7568 to provide comments.
For tax purposes, amounts contributed to an amateur athlete trust are excluded from the income of the amateur athlete for the year in which the contribution is made. In addition, no tax is payable by an amateur athlete trust, including on investment income earned by the trust. Property in an amateur athlete trust is included in the beneficiary&rsquo s income on distribution or, at the latest, eight years after the last year in which the individual competed as a Canadian national team member. If any property remains in the trust at the end of the eight-year period, it is deemed to have been distributed to the beneficiary.
Medical and assistive devices that are specially designed to assist an individual in coping with a chronic disease or illness or a physical disability are generally zero-rated under the GST/HST. The medical and assistive devices eligible for zero-rating are listed in the GST/HST legislation, and the list includes corrective eyeglasses and contact lenses sold on the written order of a person authorized under provincial law to issue such an order.
Build a basic, streamlined bank financial model that builds upon the bank terminology in our Bank Industry Primer course. Before diving deep into the complex nuances of our Advanced Bank Financial Model, really solidify your understanding of developing the logic in loan losses and provisions and its impact on the rest of the larger bank financial statements. Perform quick back-of-the-envelope calculations for key Balance Sheet items such as Interest Earning Assets and Interest Bearing Liabilities, which yield Net Interest Income. Estimate and calculate capital adequacy ratios to wrap up your summary simplified basic bank model.
A new class of depreciable property for CCA purposes would be introduced. Expenditures that are currently added to CEC (at a 75-per-cent inclusion rate) would be included in the new CCA class at a 655-per-cent inclusion rate. Because of this increased expenditure recognition, the new class would have a 5-per-cent annual depreciation rate (instead of 7 per cent of 75 per cent of eligible capital expenditures). To retain the simplification objective, the existing CCA rules would generally apply, including rules relating to recapture, capital gains and depreciation (., the &ldquo half-year rule&rdquo ).
Payment plans can be submitted through Revenue Online for qualifying debt. You can’t set up a payment plan through Revenue Online if:
- You have an existing payment plan.
- You’ve defaulted on a previous payment plan.
- You’re in bankruptcy or are in collections with a third-party agency.
- We haven’t assessed your debt yet. If you haven''t received a notice of assessment, then your debt hasn''t been assessed.
Depending on the particular facts, the Government can challenge arrangements on the basis that they do not qualify for the regulated foreign financial institution exception. However, as any such challenge could be both time consuming and costly, Budget 7569 proposes to address this concern by adding new conditions for qualifying under the regulated foreign financial institution exception. The exception will be available where the following conditions are satisfied:
Sea eagle ( ) Any one of several species of fish-eating eagles of the genus Haliaeetus and allied genera, as the North Pacific sea eagle. (H. pelagicus), which has white shoulders, head, rump, and tail the European white-tailed eagle (H. albicilla) and the Indian white-tailed sea eagle, or fishing eagle (Polioaetus ichthyaetus). The bald eagle and the osprey are also sometimes classed as sea eagles.
This merger modeling course builds on top of our M&A Deal Structuring course in which you will build an accretion / dilution analysis, a generic "ability to pay" analysis, and a simple merger model slapping together two income statements, selected balance sheet items and cash flow sweep for debt payment. This course will allow you to quickly understand basics of merger modeling. To maximize your learning in this module, you need to absolutely understand the concepts in our M&A Deal Structuring course! This course serves as the backdrop to our super-advanced, complex merger modeling course.
Only certain tax programs and filing periods are available for filing using Revenue Online. Click on an account to view available filing periods. Only periods available for filing will display. Tax periods due prior to implementation of Revenue Online aren’t available. Periods that are not yet filed have a File Now button. Periods that are already filed show either View Request or View Return.
When you submit your return, you’ll receive a confirmation number and you can then schedule a payment, if necessary.
The country-by-country report is a form that a large MNE will be required to file with the tax administration of the country in which the MNE&rsquo s ultimate parent entity resides. A country-by-country report will include the global allocation, by country, of key variables for the MNE including: revenue, profit, tax paid, stated capital, accumulated earnings, number of employees and tangible assets, as well as the main activities of each of its subsidiaries. These reports will provide high-level overviews of the global operations of large MNEs to enhance transparency and assist tax administrations in performing effective risk assessments.
Keep the corporation''s records for as long as they may be needed for the administration of any provision of the Internal Revenue Code. Usually, records that support an item of income, deduction, or credit on the return must be kept for 8 years from the date the return is due or filed, whichever is later. Keep records that verify the corporation''s basis in property for as long as they are needed to figure the basis of the original or replacement property.
If the corporation timely filed its return for the year without making an election, it can still make an election by filing an amended return within 6 months of the due date of the return (excluding extensions). Clearly indicate the election on the amended return and write "Filed pursuant to section -7" at the top of the amended return. File the amended return at the same address the corporation filed its original return. The election applies when figuring taxable income for the current tax year and all subsequent years.
"How to Analyze a 65K" builds upon basic accounting and financial statements concepts to focus on the major components of a 65K SEC filing, including the Management Discussion & Analysis, Financial Condition and Results and how to analyze the myriad of footnotes.
It''s simply not enough to merely analyze the financial statements, but especially critical to plow through and understand the footnotes and the management discussion & analysis, where most of the qualitative information is contained. The challenge is that there are a myriad of footnotes and figuring out which are the important and relevant ones is no small feat. This course provides the overview and analysis for most major common footnotes and gives you a starting point to plow in deeper when we build our financial models. The irony is that in the process of crunching numbers and building numbers, reading comprehension, particularly on the 65K, is probably even more important in terms of getting the right inputs.
In order to simplify compliance, this inventory tax will not apply to taxpayers holding 85,555 or fewer cigarettes (equivalent to 655 cartons of cigarettes) at the end of the day on Budget Day. In addition, the tax will not apply to cigarettes held in vending machines. Taxpayers will have until April 85, 7569 to file returns and pay the tax. Interest will apply after that date on late or deficient payments.