Tax Alert Archives

CRA Releases New Tax Collection Policies Circular

The CRA released Information Circular IC98-1R6 concerning the collection policies of the CRA. This information circular cancels and replaces IC98-1R5, dated February 3, 2016, and gives a general overview of many of the collections policies that the CRA has for individuals,…

Prepared by: Patrick Sweeney

Patrick Sweeney is an Associate practicing in the firm’s Toronto office. Patrick joined Thorsteinssons after articling at a national law firm. Prior to law school, Patrick worked on the trading floor of a large Canadian bank. Patrick was called to… more »

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Breaking News: Tax Court allows appeal in GAAR case

The Tax Court of Canada has allowed the appeal of the appellant in 594710 British Columbia Ltd. v. The Queen, 2013-4033(IT)G.  The Court held that the Respondent failed to demonstrate abusive tax avoidance at the primary tax debtor level by…

Prepared by: Natasha Reid

Natasha Reid is a partner in the Vancouver office specializing in taxpayer representation and litigation matters. She is also the Director of Associate Development for Thorsteinssons. Natasha has been practicing tax law since her call to the Bar of British… more »

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Significant Tax-Treaty Changes on the Horizon

On November 24, 2016, the Multilateral Convention to Implement Tax-Treaty Related Measures to Prevent Base Erosion and Profit Sharing was released by the OECD.  The multilateral instrument is aimed at implementing standards to counter perceived treaty abuse and to…

Prepared by: Jeanne Chiang

Jeanne is an associate in the firm’s Toronto office. Her practice centers on domestic tax planning for owner-managers, professional corporations, trusts and estates, and high-net worth individuals. She also advises clients on tax disputes with the Canada Revenue Agency. Jeanne… more »

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Bruce Russell, Q.C. Appointed to the Tax Court of Canada

On October 20, 2016, Justice Minister Jody Wilson-Raybould announced that Bruce Russell, Q.C. was appointed to the Tax Court of Canada to replace the Honourable C.J. Miller, effective immediately.  The official news release and a link to his biography can…

Prepared by: Michelle Chang

Michelle Chang is an associate working out of the Vancouver office of Thorsteinssons LLP. Michelle’s practice focuses on domestic and international tax planning for individuals, corporations and trusts, including estate and succession planning, corporate reorganizations, business structuring and immigration/emigration planning.… more »

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Finance Releases Legislation to Implement the Balance of the 2016 Federal Budget Measures and Amendments to Subsection 104(13.4) of the Income Tax Act (Canada)

On October 21, 2016, the Department of Finance released a Notice of Ways and Means Motion (http://www.fin.gc.ca/drleg-apl/2016/bia-leb-1016-eng.asp) implementing the balance of the 2016 federal budget measures, including the repeal of the eligible capital property rules and new rules precluding…

Prepared by: Michelle Chang

Michelle Chang is an associate working out of the Vancouver office of Thorsteinssons LLP. Michelle’s practice focuses on domestic and international tax planning for individuals, corporations and trusts, including estate and succession planning, corporate reorganizations, business structuring and immigration/emigration planning.… more »

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House of Commons Approves Carbon Tax

On October 5, 2016, the House of Commons approved Prime Minister Justin Trudeau’s October 3, 2016 motion to impose a carbon tax starting in 2018.  Pursuant to Trudeau’s plan, the federal government will set a minimum price of $10…

Prepared by: Michelle Chang

Michelle Chang is an associate working out of the Vancouver office of Thorsteinssons LLP. Michelle’s practice focuses on domestic and international tax planning for individuals, corporations and trusts, including estate and succession planning, corporate reorganizations, business structuring and immigration/emigration planning.… more »

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City of Vancouver Vacancy Tax to Start in 2017

The City of Vancouver will levy a tax on vacant residential properties starting in 2017 in an effort to increase housing stock in Vancouver.  It is proposed that the tax be administered through an annual declaration by property owners regarding…

Prepared by: Michelle Chang

Michelle Chang is an associate working out of the Vancouver office of Thorsteinssons LLP. Michelle’s practice focuses on domestic and international tax planning for individuals, corporations and trusts, including estate and succession planning, corporate reorganizations, business structuring and immigration/emigration planning.… more »

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Employment Insurance Premium Rate Will Decrease in 2017

On September 14, 2016, the Canada Employment Insurance Commission, the body responsible for monitoring and assessing the Employment Insurance (EI) program, announced that the EI premium rate for 2017 will be $1.63 per $100 of insurable earnings, a decrease from…

Prepared by: Kyle Lamothe

Kyle is an associate at the Toronto office of Thorsteinssons. Kyle’s practice focuses on domestic and international tax planning for individuals, trusts, and corporations, including succession and estate planning, reorganizations, business structuring and representing taxpayers who have disputes with the… more »

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CRA Releases Information on Audits and Criminal Investigations of Offshore Activities

On September 7, 2016, Honourable Diana Lebouthillier, the Minister of National Revenue, announced that the CRA is currently conducting audits of over 750 taxpayers and criminally investigating 20 cases of tax evasion related to offshore activities.

Read the full press…

Prepared by: Kyle Lamothe

Kyle is an associate at the Toronto office of Thorsteinssons. Kyle’s practice focuses on domestic and international tax planning for individuals, trusts, and corporations, including succession and estate planning, reorganizations, business structuring and representing taxpayers who have disputes with the… more »

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Finance Proposes Amendment to Capital Dividend Account Definition

On September 16, 2016, the Department of Finance released proposed amendments to the Income Tax Act (Canada). Contained in that package is a proposed amendment to the definition of “capital dividend account” (CDA) in subsection 89(1), which is part of…

Prepared by: Kyle Lamothe

Kyle is an associate at the Toronto office of Thorsteinssons. Kyle’s practice focuses on domestic and international tax planning for individuals, trusts, and corporations, including succession and estate planning, reorganizations, business structuring and representing taxpayers who have disputes with the… more »

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