Tax Alert Archives February 2015

Reminder of Deadline for 2014 RRSP Contributions – March 2, 2015

A reminder that RRSP contributions must be made by March 2, 2015 to be deducted against 2014 income. As the normal deadline of March 1st falls on a Sunday, the CRA confirmed that the time limit was extended until the…

Prepared by: Alexander Demner

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including owner-manager remuneration, estate planning, pre-sale and divestiture structuring, and taxpayer representation (both at the administrative appeal stage and in front of the… more »

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2015 B.C. Budget Released

British Columbia’s Minister of Finance, the Honourable Michael de Jong, presented the B.C. government’s 2015 Budget today in the provincial legislature. Among other tax measures, the Budget announced the increase, extension, or addition of various income tax credits, as well…

Prepared by: Alexander Demner

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including owner-manager remuneration, estate planning, pre-sale and divestiture structuring, and taxpayer representation (both at the administrative appeal stage and in front of the… more »

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Increase to Lifetime Capital Gains Exemption (and other Indexed Amounts) for 2015

In the 2013 Federal Budget, the government announced that the lifetime capital gains exemption (LCGE) for dispositions of qualified small business corporation shares (as well as certain other types of qualified property) would be increased to $800,000, and that such…

Prepared by: Alexander Demner

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including owner-manager remuneration, estate planning, pre-sale and divestiture structuring, and taxpayer representation (both at the administrative appeal stage and in front of the… more »

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CRA Sued for $32million for Threatening to Intimidate Taxpayers into Accepting Settlement

Cardel Construction, a Calgary-based development company, recently initiated a lawsuit against the Canada Revenue Agency (the “CRA”) seeking $32million as a result of alleged damage to its business as well as “mental anguish and stress” caused by the CRA’s actions.…

Prepared by: Alexander Demner

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including owner-manager remuneration, estate planning, pre-sale and divestiture structuring, and taxpayer representation (both at the administrative appeal stage and in front of the… more »

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Tax Court considers whether equipment can be “replacement property” for real estate

The recent case of Livingston v. The Queen, 2015 TCC 24, considered whether, for the purposes of the “replacement property” rules found in section 44 of the Income Tax Act (Canada), certain business assets could be considered to replace real…

Prepared by: Alexander Demner

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including owner-manager remuneration, estate planning, pre-sale and divestiture structuring, and taxpayer representation (both at the administrative appeal stage and in front of the… more »

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