Tax Alert Archives July 2017

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 a partner in the Toronto office of Thorsteinssons LLP. Florence’s practice focuses on all aspects of taxpayer representation.  She assists her clients in managing and resolving tax audit and appeal disputes and represents her clients before the… 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 a partner in the Toronto office of Thorsteinssons LLP. Florence’s practice focuses on all aspects of taxpayer representation.  She assists her clients in managing and resolving tax audit and appeal disputes and represents her clients before the… 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 a partner in the Toronto office of Thorsteinssons LLP. Florence’s practice focuses on all aspects of taxpayer representation.  She assists her clients in managing and resolving tax audit and appeal disputes and represents her clients before the… 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 a partner 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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