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ARTICLE · 03 JUNE 2019

What's New In Tax Controversy And Litigation?

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Courts in the second quarter of 2019 will see significant tax-related decisions and developments.

CanadaTax
Martha Macdonald
Martha Macdonald
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Courts in the second quarter of 2019 will see significant tax-related decisions and developments. Our team unpacks these developments in case law, as well as current trends in tax controversy and litigation.

Tax in the Supreme Court of Canada

The Supreme Court has agreed to consider the proper test for determining whether a derivative instrument constitutes a hedge of an asset or liability for income tax purposes after the Federal Court of Appeal reversed a Tax Court decision in MacDonald v. The Queen.1 The Tax Court held there was there was no hedge after a taxpayer held shares and a forward contract referencing the same shares. But the Federal Court of Appeal reversed that decision2 and leave to appeal was granted in March 2019.

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