Tax Alert Archives June 2020

COVID-19 Tax Update: CRA extends administrative relief regarding residency and cross-border issues

Individuals and entities can continue to rely on CRA’s administrative relief regarding residency and cross-border issues arising from travel restrictions until August 31, 2020. Previously, the CRA indicated that its guidance would only apply from March 16, 2020 to June…

Prepared by: Kyle Lamothe

Kyle is a partner in the Toronto office of Thorsteinssons LLP, Canada’s largest firm practicing exclusively in tax law. Kyle’s practice focuses on Canadian tax planning for businesses, individuals, and trusts, with a particular emphasis on high net worth families,… more »

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Federal Court grants application for judicial review in TFSA over-contribution case

In Sangha v Canada (Attorney General), the taxpayer made a series of over-contributions to his Tax Free Savings Account, was assessed a 1% monthly tax on the excess amounts, and made two relief requests to the CRA for a waiver…

Prepared by: E. Rebecca Potter

Becky Potter is a partner practicing in the firm’s Toronto office. Known for her strategic approach, honed advocacy skills, and breadth of tax knowledge, Becky Potter is a highly sought-after tax litigator. She has successfully represented her clients at every… more »

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COVID-19 Tax Update: CRA posts final update to National COVID-19 Business Continuity Plan

On June 16, 2020, the CRA posted its final update to its National COVID-19 Business Continuity Plan and, more importantly, announced its transition from a critical services mode to a business resumption mode on June 26, 2020. The CRA’s announcement…

Prepared by: Chris Canning

Chris is a partner practicing in the firm’s Vancouver office. Chris’s practice focuses on tax litigation and taxpayer representation. He represents taxpayers in all manner of tax disputes, including income tax and GST/HST auditsmore »

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