Tax Alert Archives July 2021

New Toronto vacant home tax coming January 1, 2022

On July 15, 2021, Toronto City Council approved a plan for implementing a new tax on the city’s vacant homes beginning in 2022. The proposed tax appears to be very similar to the “empty homes tax” already in force in…

Prepared by: Milan Vukovic

Milan is a partner practising in the firm’s Toronto office. Milan frequently advises on personal, corporate and trust planning, with a particular focus on high-net-worth professionals, owner-managers and their businesses. His practice encompasses all aspects of domestic Canadian tax law,… more »

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Federal Court of Appeal confirms trust deed gave public corporation de facto control over a private corporation wholly owned by the trust

In Bresse Syndics Inc. v. The Queen, 2021 FCA 115 (sub nom. CO2 Solution Technologies Inc.), the Federal Court of Appeal (“FCA”) considered the extent to which a public corporation (“Pubco”) held de facto control over a corporation (the…

Prepared by: Leonard Gilbert

Leonard graduated from the University of Toronto, Faculty of Law (J.D. 2015) and is currently a partner practicing in the firm’s Toronto office. He previously performed extensively as a concert pianist and attended the Jacobs School of Music at Indiana… more »

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Federal Court finds CRA incorrectly conflates amending an election with rectification

In Brent Carlson Family Trust v. Canada (National Revenue), 2021 FC 506, two family trusts made requests to amend elections for the 2014 taxation year filed under subsection 85(1) of the Income Tax Act (Canada) (the “Act”) in respect…

Prepared by: Leonard Gilbert

Leonard graduated from the University of Toronto, Faculty of Law (J.D. 2015) and is currently a partner practicing in the firm’s Toronto office. He previously performed extensively as a concert pianist and attended the Jacobs School of Music at Indiana… more »

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