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On June 22, 2023, Bill C-47 - An Act to implement certain provisions of the budget tabled in Parliament on March 28, 2023 received royal assent, implementing the new mandatory disclosure rules.

On November 11, 2012, the Government of Canada signed a tax treaty with the Government of the Hong Kong Special Administrative Region of the People's Republic of China.

In a lengthy judgment released on May 30, 2008, the Tax Court of Canada in GlaxoSmithKline Inc. v. The Queen considered whether the price paid by the taxpayer to a related Swiss company for ranitidine, the active pharmaceutical ingredient in ulcer medication sold in Canada by the taxpayer under the brand name Zantac, was “reasonable in the circumstances” under subsection 69(2) of the Income Tax Act (Canada), a predecessor provision to the current transfer pricing rules in section 247 of the Act.

In our annual Tax Review and Outlook report, we look back at significant developments in the Canadian and U.S. tax landscapes in 2018 and offer our predictions on what to expect in 2019.

In the March 2013 Canadian federal budget, the Minister of Finance announced an intention to consult on possible measures to "protect the integrity of Canada's tax treaties while preserving a business tax environment that is conducive to foreign investment".

As the prevalence of COVID-19 decreases, so does the need for Government assistance programs. Crowe MacKay's trusted advisors share an update on the CEBA...

Are we about to see the long-standing sacred cow of Canadian tax – the Canadian principal residence exemption – be significantly modified?

Ontario has changed the rules governing life income funds ("LIFs") and other locked-in accounts. Some of the changes are effective immediately and other changes will be effective January 1, 2008. The new rules provide for partial unlocking and remove the requirement on owners of LIFs to purchase an annuity on reaching age 80.

A decision of the Tax Court of Canada has provided further insight into the duties of an "outside" director who wishes to rely on the due diligence defence to avoid a director's liability assessment...

The Thelwell case, recently decided by Boyle J. of the Tax Court of Canada ("TCC"), should caution taxpayers to be careful when seeking tax advisory and dispute resolution services. Boyle J. excoriated both the Thelwells' tax preparer / advisor.

Over the past three years, CRA conducted an NPO Risk Identification Project.

Allowable capital losses may be carried back against taxable capital gains realized in the last 3 years...

As of June 16, 2025, the CRA will begin sending most correspondence to existing and new business owners electronically via My Business Account.

CRA has announced that it's increasing the number of international electronic funds transfers (EFT) tax audits that it will be conducting.

The Canada Revenue Agency (CRA) has implemented several new trust reporting rules that will apply to taxation year-ends starting December 31, 2021.

According to a story today from the CBC, it received a comprehensive list of names of Canadian taxpayers who donated artwork to galleries and museums and claimed charitable tax credits.

The current acceptance procedure does not require the taxpayer to pay any such amounts on filing and not doing so does not preclude the acceptance of the disclosure.