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Friday, October 19, 2018 @ 10:32 AM

Cannabis roundup: This week’s legalization opinion and analysis Cannabis legalization

Here is a roundup of all the analysis and opinion pieces we published this week covering the many aspects of cannabis legalization in Canada that came into effect on Oct. 17, 2018. ... [read more]

Friday, October 19, 2018 @ 8:32 AM

Political activity amendments would give charities more voice charity_fundraising_sm

On Sept. 14, 2018, the Department of Finance Canada published a proposal of draft legislative amendments (amendments) to the Income Tax Act (ITA) to remove the ITA’s quantitative limits for charities on non-partisan political activities. On Oct. 3, 2018, the Canada Revenue Agency (CRA) also released a draft guidance on the matter, Charities and public policy advocacy (draft guidance). ... [read more]

Thursday, October 18, 2018 @ 9:11 AM

Watch out when buying real estate with pre-incorporation contracts commercial_agreement_sm

Many purchasers of commercial real estate will elect to execute purchase agreements on behalf of a corporation to be incorporated, for a number of reasons including income tax efficiency, liability avoidance and the need to tie up the property where time is of the essence. ... [read more]

Wednesday, October 17, 2018 @ 9:04 AM

Up in smoke: A primer on cannabis taxation in Canada cannabis_legalization_sm

As of Oct. 17, the production, sale and recreational use of cannabis will be legal, if heavily regulated. Legalization begets taxation; consequently, a new regulatory regime in respect of the taxation of cannabis also applies to sales of the product. This article provides a short overview of the general tax, duty and mark-up regimes that will apply to the sale of cannabis products as of the legalization date. ... [read more]

Tuesday, October 16, 2018 @ 9:17 AM

Top judge suggests Ottawa should publicly explain when it rejects courts’ reasonable budget requests TLD Exclusive

Federal Court Chief Justice Paul Crampton says the federal government should be obliged to account to the public why it turns down budgetary requests from Canada’s four national courts that are deemed reasonable by an independent advisory body. Since budget freezes nearly shuttered some of his courtrooms last year, the Federal Court’s leader has been striving to come up with a way to boost the operational funding of the itinerant national trial court that has seen successive governments turn down budget requests from the Courts Administration Service (CAS) — the registry for the Federal Court, Federal Court of Appeal, Tax Court and Court Martial Appeal Court. ... [read more]

Friday, October 12, 2018 @ 9:28 AM

Cross-border estate administration: Both sides now crossborder_flags_sm

When a deceased person has cross-border connections to the United States and Ontario or any province or territory in Canada, many issues can arise which can complicate the administration of their estate. In this series of articles, we discuss common issues that can arise when estates have connections on both sides of the border. ... [read more]

Thursday, October 11, 2018 @ 8:22 AM

Courts won’t rewrite tax treaties negotiated by the government tax_treaty_sm

The recent decision of the Tax Court of Canada in Alta Energy Luxembourg S.A.R.L. v. Canada 2018 TCC 152, reaffirms the right of a taxpayer to rely on the original intent behind government policies and confirms that commercial realities should be considered in interpreting tax treaties. Further, the court held that structuring ownership through a fiscal resident of a country with a favourable tax treaty is not, per se, an abuse or misuse of a tax treaty in the absence of some explicit further requirement in the treaty. ... [read more]

Wednesday, October 03, 2018 @ 8:35 AM

Federal Court won’t allow CRA ‘fishing expedition’ fishing_expedition_sm

The Canada Revenue Agency has broad powers to administer and enforce Canada’s tax laws. In the context of a tax audit, the CRA can gather information by inspecting a taxpayer’s books and records and can require taxpayers and third parties to provide information and documents. While these powers are extensive, it must be recalled that the CRA’s powers are defined by provisions of the Income Tax Act and the Excise Tax Act, and the courts are empowered with interpreting this legislation. ... [read more]

Friday, September 28, 2018 @ 8:45 AM

Trustees in the middle when family trust meets family law inthe_middle_sm

Family trusts, like all trusts, are by their nature complex beasts. They create unique rights and obligations between specific actors that originate in the trust obligation itself. ... [read more]

Wednesday, September 26, 2018 @ 11:42 AM

Hitting ‘Goldilocks number’ on taxation of cannabis key to reducing black market: lawyer David Rotfleisch, taxpage.com

As D-Day for the legalization of cannabis edges ever closer, the federal government has released a framework for taxation of the herb and is seeking public input on it. And a legal expert is saying the black market will continue to thrive unless a delicate balance on price and taxation can be found. ... [read more]