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Minister of Finance Jim Flaherty today tabled the 2014 Federal Budget (the "Budget") entitled The Road to Balance: Creating Jobs and Opportunities.

Minister of Finance Jim Flaherty today tabled the 2014 Federal Budget entitled The Road to Balance: Creating Jobs and Opportunities.

All Canadian resident taxpayers are required to file Form T1135 if at any time in the year the total cost amount to the taxpayer of certain foreign property was C$100,000 or more.

There have been dramatic changes to the Income Tax Act since 2014, the most recent of which have only come into effect in 2018.

On April 16, 2009, the Federal Court of Appeal affirmed the decision of the Tax Court of Canada in “The Queen v. Gary Landrus”, holding that the general anti-avoidance rule (“GAAR”) did not deny the deduction of a “terminal loss” under subsection 20(16) of the “Income Tax Act” (Canada) (“ITA”).

On April 29, 2009, the Tax Court of Canada held in “Lehigh Cement Limited v. The Queen” that the general anti-avoidance rule (“GAAR”) applied to a series of transactions which resulted in interest payments by Lehigh on debt held by a related non-resident corporation being restructured as interest payments to an arm’s length non-resident bank in order to access the former “5/25” domestic withholding tax exemption for interest on certain arm’s length corporate debt.

The Canada Revenue Agency has been auditing taxpayers who have attempted to shift the taxation of their income away from their "home" province to a lower tax rate province.

The Income Tax Act, Canada (the "Act") provides that only "qualified donees" can issue official tax receipts for gifts from individuals and corporations.

Through their enforcement efforts, federal, provincial and territorial governments disburse about $2 billion annually to Canadian families to satisfy outstanding support debts.

In tabling the 2012 Budget, the Québec Minister of Finance Raymond Bachand announced three measures regarding the taxation of trusts.

On August 4, 2023, the Department of Finance released draft legislation [PDF] implementing two key measures of the OECD's Pillar Two global minimum tax in Canada: the income inclusion rule (IIR)...

When BPC Properties Ltd. (BPC) and Oxford Properties Inc. (Oxford) entered into an agreement relating to the sale of Oxford to BPC in August 2001...

Crowe MacKay's tax organizer also provides further details on a number of items including who is required to submit certain taxable papers and more.

In December 2014, my colleague Regan Exner wrote a blog titled ‘Should I Make Charitable Donations Personally or Through My Company?’

Canada's wealthiest individuals have been put under a microscope.The CRA has launched a project dubbed the "Postal Code Project" that is targeting taxpayers residing in affluent neighbourhoods across Canada.

In our previous article titled Changes in Tax Filing Requirements for Trusts, we reported that the Income Tax Act was being amended to impose additional filing requirements for certain trusts for the 2021 and subsequent taxation years.

On October 31, 2011, the Department of Finance proposed changes to the Income Tax Act that effectively put an end to the potentially advantageous tax planning strategy of having an employee agree to provide their services to their employer through a corporate entity (a "Personal Services Business").