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As we have previously written here and here, a taxpayer's debts can be imposed on their spouse or children through an assessment under section 160 of the Income Tax Act ("ITA").

The provincial government recently amended the Property Transfer Tax Regulation, B.C. Reg. 74/88, to clarify how additional property transfer tax relating to foreign buyers applies...

As we approach the end of the year, owners of private companies often ask, "If I need to take money out of my corporation, should I pay myself a bonus or a dividend?"

The Income Tax Act (Canada) (the "Tax Act") contains rules (the "loss trading rules") limiting the ability of a corporation to utilize losses and other tax pools that have arisen or were acquired prior to the acquisition of control of the corporation by an unrelated person.

In several jurisdictions, regulated emitters are required by law to deliver "emissions allowances" to the government.

Time will tell if Budget 2019 saves the Liberal Government in the fall of 2019.

On June 23, 2022, Bill C-19, Budget Implementation Act, 2022, No. 1 received Royal Assent (Bill C-19). Bill C-19 implements certain tax measures announced in Budget 2021 and Budget 2022...

When confronted with outstanding tax liability, individuals naturally harbor concern regarding the potential consequences and measures the Canada Revenue Agency ("CRA")...

On Dec. 9, 2015, the Canada Revenue Agency (CRA) released a new version of prescribed Form T1135 for taxpayers who own specified foreign property.

The CRA has general powers to require persons to provide information related to a tax audit however these general powers are limited, such that, the CRA cannot require persons to provide third party documents without judicial authorization.

In the 2024 Federal Budget, the Department of Finance announced that capital gains realized by individuals on or after June 25, 2024 in excess of an annual $250,000 threshold will be subject to a two-thirds inclusion rate ...

These legislative changes are retroactive to October 7, 2003.

In the course of an audit, the Canada Customs and Revenue Agency (CCRA) has the ability to require a taxpayer’s accountants and lawyers to provide documents and information in their possession. CCRA’s rights are not unrestricted and, in several recent cases, the scope of the protection of documents from disclosure on the grounds of solicitor-client privilege has been tested

This client update is an attempt to summarize the more significant aspects of the rules.

Resource companies that have issued flow-through shares shortly before or during the global COVID-19 pandemic may have faced difficulties, including the shutdown of mines, incurring eligible resource expenses ...

The Canada Revenue Agency recently published a news release, in which it identifies over $1 billion in unpaid taxes in the BC and Ontario real estate sectors since 2015.

In June 2017, the Canada Revenue Agency released its proposed changes to the voluntary disclosure program relating to income tax, excise tax, GST/HST and excise duties (Taxes).