Indirect Tax Financial Services Academy

An in-depth educational program for in-house tax professionals in the financial services industry. This program will offer participants seasoned tax resources, deep industry knowledge, actionable insights and an opportunity to expand their professional networks.

Participants will receive copies of all the course materials (500+ pages and developed by EY’s indirect tax and publishing team) and a Continuing Professional Education (CPE) certificate of completion. 

What makes this a must-attend program? Highlights include:

Policy overview: Overview of the past and present challenges and complexities associated with the taxation of financial services products.

Financial service provisions: In-depth review of the financial services provisions as defined in the Excise Tax Act.

Input tax credit allocation methodology for financial institutions: Overview of the types of inputs and the options available to determine the applicable recovery rates for the different categories of inputs; a review of the special rules for qualifying institutions; a discussion of the preapproval process for qualifying institutions; an outline of the change-of-use rules that apply to financial institutions.

Self-assessment provisions: Overview of self-assessment provisions for financial institutions, including the qualifying consideration and imported taxable supply provisions.

Rebates: Discussion around the various rebates available to financial institutions.

Selected listed financial institution (SLFI) rules: A review of how a person becomes a SLFI and the associated implications; overview on how the special attribution method formula works, including a review of the provincial attribution percentages rules for certain types of SLFIs.

Investment and pension plans: A review of the rules governing investment plans — such as mutual funds and investment limited partnerships — and pension plans.

Case law update: The latest case law developments.

EY Toronto