On August 29, 2013, the Federal Court rendered its judgment in Radonjic v. Canada Revenue Agency, 2013 FC 916. It is the latest decision on the (non-)taxation of poker winnings following the Tax Court of Canada decision in
It has been just over a month since the Federal Court of Appeal rendered its decision in JP Morgan Canada Asset Management v. AG Canada. In the wake of that decision, I thought there would never be another judicial…
The so-called “foreign affiliate dumping” rules are now a reality, notwithstanding the heavy criticism they received from many quarters. A Quick Update Report provides both a high level discussion and detailed look at these comprehensive new rules.
In 2013-0507881E5, the CRA usefully confirmed its view that a payment made pursuant to a valid price adjustment clause – in respect of preferred shares that were redeemed before the payment – is taxed as a dividend in the…
In 2013-0491571E5, the CRA confirmed its view that a “partnership interest” is one property notwithstanding that a partner may hold separate “units” in the partnership. Accordingly, where a partner sells only some of its units in the partnership during…
The Supreme Court of Canada has, in a unanimous judgment rendered by Justice LeBel, ruled in favour of the taxpayers in two tax-related contractual rectification cases arising under the Civil Code of Quebec (Services Environnementaux AES and Riopel).
Both cases…
In Auto Parts Inc. Lecavalier v. The Queen, 2013 CCI 310 (English version not yet available), the Tax Court of Canada (TCC) applied the general anti-avoidance rule (GAAR) to effectively re-characterize a cash share subscription followed by cash debt repayment…
The Federal Court of Appeal (FCA) recently released its reasons in MNR et al v. JP Morgan Asset Management (Canada) Inc.¸ 2013 FCA 250. In lengthy reasons, the FCA takes the opportunity to express its exasperation with the many applicants…
Normally, the CRA cannot collect any amount of reassessed income tax, interest or penalties while the reassessment is under objection or appeal (although CRA can collect half the reassessed amount, if the taxpayer is a large corporation). However, if there…
It is almost always the case that criminal charges for tax evasion are accompanied by a civil assessment or reassessment of taxes. Often, the fact situation is straightforward. The person earned more income than was declared. The failure to declare…