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The Tax Court of Canada and the Federal Court of Appeal have predominantly held that the standard of care required of directors to meet the due diligence defence test in s. 227.1(3) of the Canadian Income Tax Act is subjective.

On February 27, 2018 (Budget Day) the Honourable Bill Morneau, Minister of Finance (the Minister), tabled the federal government's third budget ...

In January 2024, the Department of Finance released a consultation paper on a proposed patent box regime, aiming to tax income from certain intellectual properties (IP) at preferential rates lower than the current federal rate.

On December 12, 2003, Prime Minister Paul Martin was sworn in as Canada's 21st Prime Minister. After taking his oath of office, Prime Minister Martin appointed his first Cabinet; and announced his plans to "change government", "build a twenty-first century economy" and "secure Canada's public health and safety.

On April 7, 2022, Budget 2022: A Plan to Grow Our Economy and Make Life More Affordable (Budget 2022) was released, announcing changes under the Income Tax Act (ITA)'s rules for Canadian-owned foreign

The Quebec government’s (Government) objective last year was to emerge from the economic crisis and to consolidate the province’s economic recovery. The price of this recovery over the last year has been an increase in the deficit, although lower than anticipated.

By now, most of us know that the ruling Conservatives announced they will release the Federal Budget (calling it Economic Action Plan 2015 – the "Budget") on April 21, 2015.

The Liberal government's second budget (Budget 2017) comes during a period of exceptional global political and economic uncertainty.

The Alberta Court of Appeal confirmed that tax advisors do not owe a common law duty of contribution and indemnity to recipients of their tax advice when that advice turns out to be wrong.

The updated mandatory disclosure rules in the Income Tax Act (Canada) (the "ITA") were enacted in June 2023. In general, they are made up of the reporting requirements pertaining to reportable transactions...

The recent ruling of the Supreme Court of the United States in South Dakota v. Wayfair, Inc., while receiving little coverage here in Canada, may have a substantial impact on how Canadian companies do business ...

Fresh on the heels of a number of recent court decisions, and based on recommendations made by the Advisory Panel on Canada's System of International Taxation, Budget 2012 proposes an assortment of anti-surplus stripping measures aimed at discouraging certain foreign affiliate investments (referred to as "foreign affiliate dumping transactions" or "FADTs") by Canadian corporations controlled by non-residents, which the Government asserts inappropriately erode Canada's corporate tax base.

Budget 2025, introduced on November 4, 2025, proposes the most significant changes to Canada's transfer pricing rules since they were first introduced in 1997.

Canada's new Canada Growth Incentive introduces significant tax measures designed to retain talent and capital within the country, offering both a capital gains exemption for qualifying Canadian growth company shares and an expanded rollover for reinvested gains. These provisions, announced in the November 2026 federal budget, aim to help high-potential businesses attract investment and scale domestically through carefully structured tax incentives.

On May 14, 2007, the Minister of Finance withdrew a controversial budget proposal to deny interest deductions for debt relating to foreign investments. The withdrawal of the budget measure, first announced on March 19, 2007, had been widely anticipated.

A new protocol amending the Canada-Barbados Income Tax Agreement ("Protocol" and "Treaty") was signed by the contracting states on November 8, 2011.

A popular hybrid entity for U.S. residents seeking to invest in Canada has been the unlimited liability company ("ULC").