Category: Trusts

Tax-free savings accounts not always tax-free

Published by David Davies & Alexander Demner & Kyle Spampinato

In Ahamed v. The King (“Ahamed”), the Tax Court of Canada held that a tax-free savings account (“TFSA”), despite its moniker, is capable of carrying on a business of trading securities and any income earned from that business is fully…

2021 Federal Budget – A Critical Analysis and Overview of the Principal Proposed Income Tax Measures

Published by Thorsteinssons LLP

Authors: Alexander Demner, Tyler Berg, and Gloria Wang

The federal government released its 2021 budget on April 19, 2021. Coming in as the longest budget in Canadian history, Budget 2021 proposes a myriad of income tax…

COVID-19 Tax Update: Canada Revenue Agency announces additional tax relief measures

Published by Chris Marta

The Canada Revenue Agency (“CRA”) has announced additional tax relief measures as part of its response to the ongoing COVID-19 crisis. These measures are summarized below.

Administrative Tax Measures

The new measures extend various filing deadlines under the Income Tax