Tax Alert Archives

CBA/CPA Joint Committee on Taxation – Submissions on Voluntary Disclosure Program

Following the CRA’s release of Draft Information Circular IC00-1R6 proposing drastic changes to the Voluntary Disclosure Program, the Joint Committee on Taxation of the Canadian Bar Association and Chartered Professional Accountants of Canada has made extensive submissions, which may…

Prepared by: Jennifer Flood

Jennifer Flood is an associate practicing in the firm’s Vancouver office. Jennifer’s practice focuses on taxpayer representation and tax litigation (including civil and criminal matters), and also includes personal and corporate tax planning. Prior to joining Thorsteinssons, she worked as… more »

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Finance Minister Releases Consultation Paper “Tax Planning Using Private Corporations”

Finance Minister Bill Morneau has released a consultation paper on certain tax planning strategies that involve the use of private corporationsThe paper focuses on the following three issues identified in Budget 2017: (1) sprinkling income using private corporations;…

Prepared by: Florence Sauve

Florence Sauve is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes personal and corporate tax planning. Before joining Thorsteinssons LLP, Florence clerked at the Tax… more »

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Partial Indemnity Cost Award to Taxpayer Who Was Partly Successful in Valuation Case

In Grimes v. The Queen, the Tax Court of Canada recently awarded costs above the Tariff to a taxpayer who was partly successful in an appeal turning on the determination of the fair market value of shares, and ordered…

Prepared by: Florence Sauve

Florence Sauve is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes personal and corporate tax planning. Before joining Thorsteinssons LLP, Florence clerked at the Tax… more »

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OECD Releases the Draft Contents of the 2017 Update to the OECD Model Tax Convention

On July 11, 2017, the OECD Committee on Fiscal Affairs released the draft contents of the 2017 update to the OECD Model Tax Convention.  The 2017 update primarily comprises changes to the OECD Model Tax Convention that have been…

Prepared by: Florence Sauve

Florence Sauve is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes personal and corporate tax planning. Before joining Thorsteinssons LLP, Florence clerked at the Tax… more »

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Draft Information Circular IC00-1R6 – Voluntary Disclosure Program, Released by the CRA for Discussion Purposes Only

The CRA has released Draft IC00-1R6 – Voluntary Disclosure Program for discussion purposes only.  If published in its current form, IC00-1R6 would drastically alter the existing scope and parameters of the CRA’s voluntary disclosure program.

Draft IC00-1R6 here: https://www.canada.ca/en/revenue-agency/campaigns/ic00-1r6-voluntary-disclosures-program.html

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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CRA Continues its Crackdown on Tax Cheating in Canada’s Hottest Real Estate Markets

The CRA boasts increased reporting, compliance and audit measures in support of its commitment to protecting the fairness and integrity of the Canadian tax system, as it relates to ensuring a healthy and stable housing market.

Read more here:

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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Minister Lebouthillier Announces Improvements at the CRA to Better Serve Small and Medium Businesses

On June 27, 2017, the Honourable Diane Lebouthillier, Minister of National Revenue, released a report on the CRA’s 2016 Serving You Better consultations with small and medium businesses.

Report published here: https://www.canada.ca/en/revenue-agency/campaigns/consultations-small-businesses.html?utm_campaign=not-applicable&utm_medium=vanity-url&utm_source=canada-ca_cra-serving-you-better

 

Prepared by: Asif Abdulla

Asif Abdulla is an associate working out of the Vancouver office of Thorsteinssons LLP. He practices in the area of domestic and international tax planning for individuals, trusts, corporations and other private enterprises with a view to achieving tax efficiency… more »

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Province of Ontario Introduces Legislation on Non-Resident Speculation Tax

The Minister of Finance (Ontario) introduced Bill 134, Budget Measures Act (Housing Price Stability and Ontario Seniors’ Public Transit Tax Credit), 2017 yesterday, providing a first look at legislation regarding the non-resident speculation tax for land transfers in the Greater…

Prepared by: Nicholas McIsaac

Nicholas is an associate in the firm’s Toronto office Nicholas graduated from Osgoode Hall Law School in 2016, receiving the Dean’s Letter Recognizing Cumulative Overall Excellence. He was awarded prizes for the best combined marks in Commercial Law, Business Associations… more »

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Federal Budget to be delivered on March 22, 2017

The Minister of Finance (Canada) has announced that the 2017 federal budget will be tabled in the House of Commons on March 22, 2017. For more information, please visit: http://www.fin.gc.ca/n17/17-013-eng.asp

Prepared by: Rebecca Potter

Rebecca Potter is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes tax planning for individuals, businesses, not-for-profit organizations, and charities. She has appeared before the… more »

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Post-Fairmont Hotels Inc. decision released in Supreme Court of British Columbia rectification case

In BC Trust v. Canada (Attorney General) (2017 BCSC 209), the Supreme Court of British Columbia dismissed an application for rectification, applying the recent Supreme Court of Canada decision in Fairmont Hotels Inc. (2016 SCC 56). The BC Trust case…

Prepared by: Rebecca Potter

Rebecca Potter is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes tax planning for individuals, businesses, not-for-profit organizations, and charities. She has appeared before the… more »

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