On May 24, 2012, the Supreme Court of Canada dismissed Imperial Tobacco’s application for
leave to appeal from the Federal Court of Appeal’s decision in Imperial Tobacco Canada
Limited v. The Queen (2011 FCA 308).
The issue in Imperial was…
In Transalta Corp. v. The Queen (2012 TCC 86), the Tax Court of Canada (TCC) ruled that a corporate employer can deduct the fair market value of shares issued to employees as bonuses.
From 2001 to 2004, Transalta issued…
T1135 Foreign Property and Income Reporting Requirements
In Douglas v. HMQ, 2012 TCC 73, a recent decision by the Tax Court of Canada (TCC) under the informal procedure, the TCC surprisingly accepted the taxpayer’s argument that the penalty imposed under…