Context: Tax-related representations, warranties, and indemnities are of course common in any share purchase agreement (SPA). These contractual provisions are generally designed to ensure that the purchaser of a target corporation is protected against any taxes payable by the target…
Authors: Gloria Wang, Sarah Faber, and Alexander Demner
Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable (“Budget 2022”) was tabled by the Federal Government on April 7, 2022 (“Budget Day”). The government…
Last week, the Canadian Department of Finance released proposed technical amendments to the Income Tax Act to deal with perceived deficiencies related to the housing market. Buried within those (very short, by technical amendment standards) changes is a suspension of…
It used to be that the favorite topic of conversation in Vancouver, and then more recently in Toronto was the cost of real estate. There was unending speculation on how high the prices might go and whether the party would…
The battle against perceived rampant real estate speculation continued when, on October 3, 2016, Canadian Finance Minister Bill Morneau released income tax amendments designed to “close loopholes” in the Income Tax Act related to the housing market. A relatively innocuous…
On January 1, 2016, new rules relating to the taxation of trusts came into force in the form of subsections 104(13.3) and (13.4) of the Income Tax Act (Canada) (the “Act”). We have previously discussed the effect of…
I have had many hours of spirited conversation with my friend and colleague, Craig Sturrock Q.C., over the extent to which, or the way in which the Charter of Rights applies in tax law. In broad strokes, his position has…
By now you might have heard that Budget 2016 proposes to repeal the existing eligible capital property (“ECP”) regime in favour of a new class of depreciable capital property in respect of which capital cost allowance (“CCA”) may be claimed. …
The Honourable Marshall Rothstein, Q.C., who served on the Supreme Court of Canada from March 2006 to April 2015, spoke at a special meeting of the CBA Tax Section (BC Branch) on April 14, 2016. During his time on the…
As part of Budget 2016 the government announced that it is “committed to preventing underground economic activity, tax evasion and aggressive tax planning.” To achieve this, the budget proposes to allocate $444.4 million over five years to enable CRA to…