Category: Investment Tax Credits

Marine Atlantic v The King – What is a “fair and reasonable” allocation in a business when everything depends on everything?

Published by Sarah Faber

When is an allocation of costs amongst supplies “fair and reasonable” for calculating input tax credits (“ITCs”)? In Marine Atlantic Inc. v The King (2023 TCC 95), the Tax Court confirmed that a “fair and reasonable” allocation:

  1. is based

…

Principal tax measures from Federal Budget 2023 – Part 3: Clean energy initiatives

Published by Alexei Paish & Asif Abdulla & Gloria Wang

Budget 2023 – A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future (“Budget 2023”) was tabled by the Department of Finance (“Finance”) on March 28, 2023 (“Budget Day”). The stated focus of Budget 2023 includes targeted inflation relief, stronger…