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This article will be the first in a series of articles that discuss the Allowable Business Investment Loss ("ABIL"), including the interpretation of key terms as well as a discussion of recent case law.

The release of the 2019 Alberta Budget has signaled that Premier Jason Kenney remains committed to bringing back the "Alberta Advantage" by returning to broad-base low corporate tax rates.

In Canada, corporations may claim a small business deduction on their corporate tax returns, effectively reducing the corporate tax rate on the first $500,0001 of taxable income from active business income.

On September 11th, 2017, British Columbia Finance Minister Carole James provided a British Columbia Budget update. Below is a summary of some of the tax and other measures announced in the update.

Budget 2013 proposes to introduce a new rule to target what the Government describes as a form of corporate loss trading.

The Canadian Department of Finance released a discussion paper earlier today on tax planning using private corporations.

Intercorporate dividends are traditionally a very common tool for tax planning.

In a case argued in the Tax Court of Canada in September 2007 but not yet decided (Prevost Car Inc. v. The Queen, the Canada Revenue Agency (the CRA) has taken the position that a Netherlands holding company was not the “beneficial owner” of dividends paid to it by its Canadian subsidiary.

Par value shares are often considered one of the last vestiges of the old Canadian corporate legislation. The current federal corporate legislation, and the majority of provincial...

The Canadian government has proposed significant technical amendments to the Income Tax Act's definition of "taxable Canadian property" (TCP), fundamentally altering how publicly traded partnership units are classified and expanding the look-through rules for determining TCP status. These changes, effective upon Royal Assent, will impact cross-border transactions and investment structures by broadening the scope of what constitutes TCP and reinstating historical rules for options and interests in property.

Regulated health professionals are likely quite familiar with the annual dues that are imposed upon them by their regulatory college in order to maintain their practice within the profession. However, they may be less familiar with the deductibility of these dues when filing their annual taxes.

On May 17, 2010, the Federal Court of Appeal delivered its unanimous decision, (see attached), allowing the taxpayer’s appeal in Lehigh Cement Limited.

A business that is considered to be economically viable is generally valued on a going concern approach implying that the business will continue to operate into the future.

If your business has been considering expanding production, upgrading equipment, or building new facilities...

Ontario corporations are subject to a general corporate income tax rate of 26.5%

Under this new program, corporations and partnerships that begin to carry out a large investment project in Québec after November 20, 2012 may, under certain circumstances, obtain a ten-year tax holiday.

The Department of Finance released its long-awaited proposed amendments to the tax on split income (TOSI) rules on December 13.