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Friday, November 17, 2017 @ 10:52 AM

Tax Views: Light shone on offshore trusts should be a red flag to lawyers and accountants | Vern Krishna

The release of 13 million documents in the so-called “Paradise Papers” has put offshore trusts in the limelight once again. Regardless of their legality and utility, the very mention of the word “offshore” conjures up images of secrecy, and improper tax evasion by high net worth individuals, trusts and multinational corporations, with calls for more money by the Canada Revenue Agency to conduct more audits in exotic jurisdictions. ... [read more]

Tuesday, November 14, 2017 @ 10:24 AM

Paradise Papers have ‘unsavoury’ aspects, but perhaps not illegal activity, say experts Robert Kepes, Morris Kepes Winters LLP

The massive Paradise Papers release has caused much attention to be paid to the offshore investments of wealthy individuals both internationally and in Canada. But tax law experts are saying, whereas the optics of having such investments may not be good, it does not necessarily mean any laws are being broken. ... [read more]

Monday, November 13, 2017 @ 8:48 AM

Decision highlights CRA’s overzealous tax litigation policy | Julius Melnitzer

Sometimes, litigants get so caught up in zealotry that they lose sight of basic underlying factors. That, perhaps, is part of the cost of the adversarial system. But when the zealot is the Crown in a country that faces vexing issues of delays in the court system and access to justice in general, some questions should be asked. ... [read more]

Thursday, November 09, 2017 @ 12:49 PM

New tax partner for Stikeman Elliott

Pierre-Louis Le Saunier has joined the Montreal tax group of Stikeman Elliott LLP as a partner. ... [read more]

Thursday, November 09, 2017 @ 8:23 AM

Lots of smoke and mirrors with release of Paradise Papers paradise_papers_sm

On November 5, a treasure trove of documents related to offshore investment activities of the wealthy – the Paradise Papers – was made public. The Paradise Papers involves a set of 13.4 million confidential documents which provide some insight into how the rich stash their money away in complicated offshore arrangements and avoid paying taxes. But is doing what you can to avoid paying taxes a bad thing? ... [read more]

Tuesday, November 07, 2017 @ 9:33 AM

Proposed changes to small business tax: What it means to lawyers, law firms business_tax_sm

The 2017 federal budget introduced new tax rules to the Canadian legislative framework. While many of us may understand the general sense of these changes, the impact they will have on lawyers and law firms may be less clear. In our practice as managers in our firm’s tax group, we have numerous clients who will be affected. With this article, we aim to clarify the impact of three particular changes on lawyers and law firms and provide guidance on the next steps legal professionals can take to meet the new compliance challenges. ... [read more]

Monday, November 06, 2017 @ 2:11 PM

Wildeboer Dellelce buys into financial services company

Corporate finance and tax law firm Wildeboer Dellelce LLP has acquired 50 per cent of Toronto-based corporate services and bookkeeping provider Numeric Answers Limited. ... [read more]

Thursday, November 02, 2017 @ 8:40 AM

When a dollar’s not a dollar: Contingent taxes on RRSPs in matrimonial disputes

Mr. and Mrs. Smith have decided to get a divorce. When couples end a marriage, an equalization payment is required that considers the value of their matrimonial assets. Mrs. Smith’s RRSP portfolio statement says her RRSP is valued at $1 million. But how much is her RRSP worth for matrimonial equalization purposes? ... [read more]

Thursday, November 02, 2017 @ 8:36 AM

FEDERAL INCOME TAX - Corporations - Capital tax - Transfer of property - Tax avoidance - General anti-avoidance rule - Misuse and abuse - Avoidance transaction - Appeals

Appeal by Univar Holdco Canada ULC (Holdco) from a reassessment of tax based on the application of the general anti-avoidance rule (GAAR). ... [read more]

Wednesday, November 01, 2017 @ 11:31 AM

Stikeman Elliott welcomes back Nixon as partner

Margaret Nixon, a former associate with Stikeman Elliott LLP, has returned to the business law firm as a partner in the tax group. ... [read more]