Tax Blog Posts

What’s new? The latest evolution in the GAAR “modernization” proposals

I.              INTRODUCTION The Department of Finance first publicly announced an intention to modify the general anti-avoidance rule (the “GAAR”), found in section 245 of the Income Tax Act (Canada) (the “Act”), on November 30, 2020. This intention most recently came…

Enhanced GST rebates on new purpose-built rental housing announced

Yesterday, the Department of Finance announced GST relief for new residential rental construction.  In addition to signaling a reduction in the cost of supplying new rental homes, the measure potentially reduces or eliminates a major source of friction between…

Quick Update – New EIFEL Regime

Context: As part of the avalanche of new draft legislation, the Department of Finance has released revised excessive interest and financing expenses limitation (EIFEL) rules.  The attached Excel is a high-level and technical summary of the new EIFEL regime. …

Canadian Tax Alerts

CRA releases guidance on new trust reporting rules

The CRA has released an FAQ page regarding the new reporting rules in respect of trusts for taxation years ending on or after December 31, 2023. As stated by the CRA, “many trusts that did not previously have to…

Reminder: Vancouver Empty Homes Tax declaration due February 2

Vancouver homeowners are reminded to file their Empty Homes Tax declaration for the 2023 year by February 2, 2024. Failure to file the declaration by the deadline will result in the subject property being deemed to have been vacant…

Artificial Intelligence (AI) in Federal Court

On December 20, 2023, the Federal Court released a Notice to the Parties and the Profession on the use of Artificial Intelligence (AI). The Notice applies to all documents that are either submitted to the Court or prepared for…

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