On February 22, 2024, the British Columbia Minister of Finance tabled the province’s 2024 budget.
The 2024 budget contains a number of notable tax measures, including the following:
Provincial Anti-Flipping Tax
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In Canada Revenue Agency (“CRA”) Views document number 2021-0922301I7, the CRA considered a Canadian-resident trust deemed to dispose (for Canadian income tax purposes) of U.S. real property on its 21-year anniversary. The CRA was asked whether: (a) the trust could…
The Tax Court of Canada (“TCC”) recently issued a Practice Direction and Order (the “Order”) allowing parties to proceedings covered by the Tax Court of Canada Rules (General Procedure) to consent to be served by e-mail. The Order can be…
In a news release dated February 9, 2022, Canada’s Department of Finance announced its intention to extend enhanced key support programs to aid workers and businesses through ongoing public health restrictions.
Using regulatory authority provided in Bill C-2, the…
On February 4, 2022, Canada’s Department of Finance published draft legislative proposals and related materials (the “Published Materials”) for public comment. The Published Materials relate to the proposed implementation of various tax measures, including those outlined in the Government of…