Landmark Decision on Trust Residence
On April 12, 2012, the Supreme Court of Canada (SCC) released its decision in Fundy Settlement v. Canada (2012 SCC 14). This case was the SCC’s first opportunity to consider… read more »
Farm Losses Revisited by SCC
On Friday March 23, 2012, The Queen v. John R. Craig was heard by the Supreme Court of Canada (SCC). This was the first opportunity for the SCC to revisit… read more »
FCA Clarifies Purchase Price Allocation Principles
Section 68 of the Income Tax Act (Canada) (the “ITA”) allows the Canada Revenue Agency (the “CRA”) to determine the reasonable consideration for the disposition of a particular property. In… read more »
Punitive TFSA Audits
The Canada Revenue Agency (“CRA”) has recently begun mailing out questionnaires to individuals holding significant amounts in their Tax-Free Savings Accounts (“TFSAs”). This appears to be part of a project… read more »
FCA Confirms Minister Cannot Make a “Deal”
On January 10, 2012, the Federal Court of Appeal (FCA) released its decision in CIBC World Markets Inc., 2012 FCA 3. The issue before the FCA was whether the appellant,… read more »
Supreme Court Rules in GAAR Case
On December 16, 2011 the Supreme Court of Canada released its decision in Copthorne, its fourth judgment considering the scope of the general anti-avoidance rule (GAAR) in section 245 of… read more »
Payments Made to Employees for Surrendering Stock Options on Account of Capital
On November 10, 2011 the Federal Court of Appeal (FCA) released its decision in Imperial Tobacco Canada Limited v. The Queen, 2011 FCA 308. The issue for the Court to… read more »
SCC Grants Leave to Appeal in Important Rectification Case
On October 13, 2011, the Supreme Court of Canada (SCC) granted leave to appeal in Agence du Revenu du Québec (formerly the Deputy Minister of Revenue of Quebec) v. Services Environnementaux AES… read more »
GAAR Found to Apply to “Reverse Freeze” Transaction
On July 12, 2011, the Tax Court of Canada (TCC) released the long-awaited decision in Triad Gestco Ltd. v. The Queen, 2011 TCC 259. This is the TCC’s most… read more »
Bozzer Decision Clarifies Tax Debt Limitation Period and Interest Calculations
The Federal Court of Appeal recently released its much-anticipated decision in Bozzer v. The Queen, 2011 FCA 186. Since the introduction in 2004 of a 10-year limitation period for… read more »