Tax Alert Archives

Interest Rates for 2014 Q1

On December 13, 2013, the Canada Revenue Agency announced the prescribed interest rates for the first quarter of 2014.  All interest rates have decreased by 1%, except for the rate for pertinent loans or indebtedness.

Prepared by: Kim Ho

Kim Ho received a B.A.(Honours) in economics from Queen’s University and a LL.B from the University of Victoria. While at the University of Victoria, he was awarded the 2008 Stikeman Elliot/Carswell National Tax Award, the British Columbia Superior Court Judges… more »

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CBA-CPA Canada submissions on Treaty Shopping

On December 11, 2013, the CBA-CPA Canada Joint Committee on Taxation made their submissions on the government consultation paper on treaty shopping. The consultation period ended on December 13, 2013.

Prepared by: Kim Ho

Kim Ho received a B.A.(Honours) in economics from Queen’s University and a LL.B from the University of Victoria. While at the University of Victoria, he was awarded the 2008 Stikeman Elliot/Carswell National Tax Award, the British Columbia Superior Court Judges… more »

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CBA-CPA Canada submissions on the proposed amendments to the taxation of testamentary trusts and estates

The CBA-CPA Canada Joint Committee on Taxation made their submissions on the proposed measures to eliminate the graduate rate taxation of testamentary trusts and estates. The consultation period ended on December 2, 2013. The submission can be found on…

Prepared by: Kim Ho

Kim Ho received a B.A.(Honours) in economics from Queen’s University and a LL.B from the University of Victoria. While at the University of Victoria, he was awarded the 2008 Stikeman Elliot/Carswell National Tax Award, the British Columbia Superior Court Judges… more »

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December 31, 2013 Deadline for Taxpayer Relief

A reminder: Individuals have until December 31, 2013 to apply for relief under the “Taxpayer Relief Provisions” with respect to their 2003 year.

Prepared by: Kim Ho

Kim Ho received a B.A.(Honours) in economics from Queen’s University and a LL.B from the University of Victoria. While at the University of Victoria, he was awarded the 2008 Stikeman Elliot/Carswell National Tax Award, the British Columbia Superior Court Judges… more »

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The Supreme Court of Canada Releases its Decision in Highly Anticipated Rectification Case

The Supreme Court of Canada released its decision in Quebec (Agence du Revenu) v. Services Environnementaux AES inc., 2013 SCC 65 today:

http://scc-csc.lexum.com/decisia-scc-csc/scc-csc/scc-csc/en/item/13363/index.do

Prepared by: Natasha Kisilevsky

Natasha Kisilevsky is a partner in the Vancouver office specializing in taxpayer representation and litigation matters. She is also the Director of Associate Development for Thorsteinssons. Natasha has been practicing tax law since her call to the Bar of British… more »

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CRA publishes new T661(13) claim form for SR&ED expenditures

CRA publishes new T661(13) claim form for SR&ED expenditures — including new Part 9 requiring claim preparer information — and says it will accept only the T661(13) version of the form as of January 1, 2014 for all taxation years.…

Prepared by: Natasha Kisilevsky

Natasha Kisilevsky is a partner in the Vancouver office specializing in taxpayer representation and litigation matters. She is also the Director of Associate Development for Thorsteinssons. Natasha has been practicing tax law since her call to the Bar of British… more »

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Supreme Court Rules in Envision Credit Union Case

The Supreme Court of Canada released its decision in Envision Credit Union v. Canada, 2013 SCC 48 today concerning amalgamations and the application of section 87 of the Income Tax Act (Canada) (the “ITA”). The Court dismissed the taxpayer’s appeal,…

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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Omnibus Tax Bill Passed Into Law

Last year, Parliament introduced Bill C-48 (the “Bill”), one of the most significant omnibus tax bills ever put before the legislature. Spanning more than 900 pages, the Bill was introduced to enact the substantial backlog of proposed amendments to the…

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