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Monday, September 24, 2018 @ 10:35 AM

Lax corporate disclosure aids money launderers: C.D. Howe report laundering_money_sm

A recently released report (“Hidden Beneficial Ownership and Control: Canada as a Pawn in the Global Game of Money Laundering”) by Denis Meunier on behalf of the C.D. Howe Institute, concludes that the lack of transparency as to beneficial ownership of corporations and trusts in Canada may lead to international money laundering taking place here. ... [read more]

Monday, September 24, 2018 @ 9:30 AM

Cross-border estate administration: The U.S.-Ontario mix billsCanada_US_sm

Due primarily to the differences between the two tax regimes, in particular taxation on death, there are fewer complications arising for U.S. estates with Ontario connections if there is an outright distribution with no continuing trusts. Typically, an Ontario-resident beneficiary would create no significant complications for a U.S. estate, since the U.S. levies no additional tax on inheritances which are capital distributions payable to non-U.S. Persons and Canada treats such inheritances as gifts, which are not taxable in Canada in the hands of a beneficiary when received. ... [read more]

Friday, September 21, 2018 @ 3:53 PM

Ontario faces ‘uphill battle’ in fight against carbon tax: experts Eric Adams, University of Alberta Faculty of Law

The Ontario government has followed Saskatchewan’s lead in bringing a challenge to its provincial Court of Appeal on the federal government’s carbon tax, arguing the scheme is not within Ottawa’s powers to do so. But constitutional and tax experts are saying both provinces will most likely have a difficult time convincing courts to rule against Ottawa. ... [read more]

Friday, September 21, 2018 @ 8:57 AM

Time runs out as Ontario court bars claim against tax lawyer time_out_sm

Imagine the following scenario. Clients retain tax lawyers to review assessments made by the Canadian Revenue Agency (CRA). Their tax lawyers recommend appealing the CRA assessments. Two years later, the tax lawyers reverse their advice: the merits of the appeal to the CRA are not as strong as once thought. The clients — already invested in pursuing the appeal to the CRA — retain new counsel and continue the litigation. The clients are ultimately found to have tax liability. ... [read more]

Tuesday, September 18, 2018 @ 9:31 AM

Search and seizure of electronic data: too much of a good thing data_security_sm

Seizures of electronic data have become the equivalent of trying to catch trophy fish using bottom trawling nets. Like large, weighted fishing nets dragged across the seafloor, unselectively scooping up everything in their path, seizures of data invariably and easily net their own form of digital bycatch. ... [read more]

Monday, September 17, 2018 @ 2:21 PM - Last Updated: Monday, September 17, 2018 @ 7:56 PM

Ottawa quietly rolls out much-anticipated draft tax law changes on charities’ political activities Finance Minister Bill Morneau

As people left work before the last weekend, Ottawa quietly rolled out its much-anticipated draft changes to the tax legislation governing charities’ political activities. ... [read more]

Friday, September 14, 2018 @ 8:40 AM

FEDERAL INCOME TAX - Corporation - Dividend refunds - Deadline for filing

Appeal by the taxpayer from the dismissal of its application for judicial review of the Minister’s decision refusing to grant an extension of time to file tax returns for a dividend refund under s. 129(1) of the Income Tax Act. ... [read more]

Tuesday, September 11, 2018 @ 9:20 AM

Cross-border estate administration: The two-country connection canadianflag_americanflag_sm

When a deceased person has cross-border connections to the United States (U.S.) 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]

Monday, September 10, 2018 @ 12:50 PM

McMillan adds former articling student, two associates

McMillan LLP announced that William (Bill) Wu has rejoined the firm as a member of the competition group in its Toronto office, effective Sept. 10, 2018. ... [read more]

Monday, September 10, 2018 @ 9:19 AM

FEDERAL INCOME TAX - Interpretation - Whether valid partnership

Application by the taxpayers for a Rule 58 determination of whether the Minister, after concluding no partnership existed, could make a valid determination in respect of the purported partnership under s. 152(4.1) of the Income Tax Act. ... [read more]