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On July 18, 2017, the Minister of Finance (Canada), the Honourable William Morneau, released the Government's proposals to address tax planning commonly used by private corporations and their owners ...

Bacchus v. The King, decided on May 8, 2024, involved the Appellant, Wayne Bacchus, a lawyer, who was challenging notices of reassessment made by the Minister of National Revenue in the 2005-2007, 2009 and 2012-2014 taxation years.

The Budget introduces a change that is designed to curb the misuse of the regime for donations of cultural property through abusive tax shelters.

As you may be aware, the 2014 Federal Budget did not bode well for the tax savings achieved through the use of testamentary trusts.

CRA has conducted a tax audit of Uber in Canada and has asked for access to Uber's books and records. They did the same thing with Ebay a few years ago, and audited Ebay power sellers.

On April 9, 2020, the IRS released Notice 2020-23, expanding on the relief previously provided in Notices 2020-17 and 2020-18. As discussed in our March 20, 2020 blog

The effective date of the new rules is generally 60 days after the proposed regulations are finalized, although certain aspects of the new rules may be relied upon immediately.

They got Al Capone for tax evasion; not for any one of the hundred or so other crimes he allegedly committed. Apparently, it was testimony of his accountant and the discovery of a mysterious "second set of books" that finally put Capone away. The books were well hidden. Fortunately, the accountant knew where to find them.

In response to pleas for clarity and guidance from employees and the tax community, on September 11, 2020, the Canada Revenue Agency (CRA) conducted a consultation hosted by the...

With the exception of a few businesses (e.g., hand sanitizer and toilet paper manufacturers), the COVID-19 crisis has had a material detrimental impact on the current value of a business.

Ce bulletin est destiné aux employeurs canadiens dans les secteurs à but lucratif, non-lucratif ainsi qu'aux organismes de bienfaisance.

The Tax Court of Canada decision in Odette (Estate) v the Queen[1] demonstrates two equally important principles. The first is the need to carefully review complex provisions of the Income Tax Act...

One matter that comes up from time to time, and with increasing frequency in the past few years in response to a decrease in available funding, is the extent to which, as a means to generate revenue, ...

CBCA corporations will soon have to establish a securities register detailing all individuals with significant control over the corporation.

A corporation that is resident in Canada for Canadian income tax purposes is subject to Canadian income tax on its worldwide income.

On March 12, 2024, the Canada Revenue Agency ("CRA") clarified its position on the application of late filing penalties to bare trusts.

Canada Revenue Agency ("CRA") has released the following new and updated guidances for registered charities...