Following our previous discussion of Canadian tax residency, this post explores the next question: what happens when a taxpayer becomes a non-resident of Canada under the Income Tax Act (Canada) (the “ITA”)?
Whether a taxpayer’s “exit” is tax motivated or…
Under the Income Tax Act (Canada) (the “ITA”), a resident of Canada is taxable on worldwide income, whereas a non-resident is taxable only on certain income that is connected to Canada. Non-residents are also subject to withholding tax on certain…
At the 2025 CTF Annual Tax Conference, during their annual 2025 roundtable (the “2025 Roundtable”) the Canada Revenue Agency (the “CRA”) answered questions regarding its current administrative views and practices. This blog provides an overview of certain key takeaways from…
On Friday, in the face of mounting pressure – including a court application launched by Thorsteinssons LLP – the Department of Finance (Finance) announced that the implementation date for the proposed capital gains inclusion rate changes would be…
Yesterday, Thorsteinssons LLP (Canada’s largest tax law firm) launched a comprehensive challenge in Federal Court to the Canada Revenue Agency’s proposed enforcement of the capital gains tax hike. Led by David Davies, Alexander Demner, Florence Sauve, and…
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 …
Filing a notice of objection is the first step a taxpayer must take to dispute an assessment or reassessment issued by the Minister of National Revenue (the “Minister”). Failure to follow the proper procedural rules for filing an objection can…
The Federal Court of Appeal (the “FCA”) recently released its decision in 3295940 Canada Inc v His Majesty The King, 2024 FCA 42. This decision is a welcome development in the jurisprudence regarding the application of the General Anti-Avoidance…
Tax and industry professionals have been waiting for the Federal Court of Appeal (the “FCA”) to issue its decision in Glencore Canada Corporation v R for several months. The decision under appeal (2021 TCC 63) sparked many discussions, and the…
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…