Yesterday (April 16, 2024), the Department of Finance Canada published its 2024 federal budget (“Budget 2024”). Several major tax proposals were announced. This blog post briefly outlines those relating to income tax.
1. Increased Capital Gains Inclusion Rate …
The B.C. government tabled legislation yesterday which would introduce its proposed “home flipping tax”. First announced in the province’s 2024 budget (and discussed in greater detail in our previous blog post), the draft legislation was contained in Bill…
The CRA recently released an electronic mailing list primarily to notify subscribers when a new notifiable transaction has been designated by the Minister of National Revenue. The subscription webpage also indicates that subscribers to the electronic mailing list may…
Today, by a 7:1 majority, the Supreme Court of Canada dismissed the appeal of Deans Knight Income Corporation (“Deans Knight”) from a 2021 decision of the Federal Court of Appeal that upheld the application of the general anti-avoidance…
On November 4, 2022, Bill C-32 (44-1) was tabled in the House of Commons. Among other things, that Bill contains the latest version of the proposed enhanced trust reporting rules and stipulates that they would be effective for trusts’…