Tax Alert Archives

BC Tables New Societies Act

Yesterday, British Columbia’s Minister of Finance tabled a bill that would replace the province’s existing Societies Act, which contains certain significant differences.  A full version of the bill is available here: https://www.leg.bc.ca/40th4th/1st_read/gov24-1.htm.  This comes after a White Paper released last

Prepared by: Noah Sarna

Noah is a partner practising in the firm’s Toronto and Vancouver offices. Noah’s practice focuses on all aspects of commodity tax, including Goods and Services Tax/Harmonized Sales Tax, land transfer taxes, foreign buyer taxes and vacancy or underuse taxes. Noah… more »

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Voting Begins on Metro Vancouver’s Proposed 0.5% PST Increase

Voting packages sent by Elections BC for the regional sales tax referendum should generally be received this week by residents of the Greater Vancouver Regional District.  Votes can be cast between now and May 29th using a mail-in ballot. 

Prepared by: Noah Sarna

Noah is a partner practising in the firm’s Toronto and Vancouver offices. Noah’s practice focuses on all aspects of commodity tax, including Goods and Services Tax/Harmonized Sales Tax, land transfer taxes, foreign buyer taxes and vacancy or underuse taxes. Noah… more »

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Alberta Budget to be Released on March 26

The Alberta government announced yesterday that the provincial budget for 2015 will be tabled on March 26, which will address how the province will tackle the $7 billion fiscal challenge arising from plunging oil prices.

 

Prepared by: Noah Sarna

Noah is a partner practising in the firm’s Toronto and Vancouver offices. Noah’s practice focuses on all aspects of commodity tax, including Goods and Services Tax/Harmonized Sales Tax, land transfer taxes, foreign buyer taxes and vacancy or underuse taxes. Noah… more »

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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, TEP

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including estate planning, pre-sale and divestiture structuring, owner-manager remuneration, taxpayer representation, and tax litigation. Alexander routinely advises on and implements reorganizations for individuals,… 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, TEP

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including estate planning, pre-sale and divestiture structuring, owner-manager remuneration, taxpayer representation, and tax litigation. Alexander routinely advises on and implements reorganizations for individuals,… 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, TEP

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including estate planning, pre-sale and divestiture structuring, owner-manager remuneration, taxpayer representation, and tax litigation. Alexander routinely advises on and implements reorganizations for individuals,… 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, TEP

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including estate planning, pre-sale and divestiture structuring, owner-manager remuneration, taxpayer representation, and tax litigation. Alexander routinely advises on and implements reorganizations for individuals,… 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, TEP

Alexander is a partner practicing in the firm’s Vancouver office. Alexander’s practice covers several areas of taxation, including estate planning, pre-sale and divestiture structuring, owner-manager remuneration, taxpayer representation, and tax litigation. Alexander routinely advises on and implements reorganizations for individuals,… more »

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Tax Court holds no donation tax credit can be allowed without a charitable receipt

In Lapointe v. Canada (2014 TCC 356), the Tax Court of Canada indicated that it had every reason to believe that the taxpayer and her spouse actually incurred certain expenses for charitable purposes. Nonetheless, the court held that since no…

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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CRA describes interpretation of s.95(6)(b) post Lehigh

In 2014-0550441C6, the Canada Revenue Agency set out how the Federal Court of Appeal’s decision in the Lehigh Cement case affects the CRA’s interpretation of subsection 95(6)(b) of the Income Tax Act (Canada). “CRA accepts that 95(6)(b) is generally…

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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