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Wednesday, November 01, 2017 @ 9:48 AM

Judicial Advisory Committee for Tax Court of Canada chosen

The five experts who will assist the federal Department of Justice pick new tax court judges have been named. ... [read more]

Monday, October 30, 2017 @ 11:23 AM

Increased federal oversight of condo flipping called ‘grossly overdue’ Audrey Loeb, Shibley Righton LLP

The Canada Revenue Agency (CRA) is looking into nearly 3,000 condominium transactions in the Toronto and Vancouver areas for possible instances of tax evasion, and a prominent tax lawyer is saying increased federal monitoring of so-called assignment sales is “grossly overdue.” ... [read more]

Friday, October 27, 2017 @ 8:52 AM

New tax proposals: Sprinkling income, family members and private corporations family_income_sm

Ninety days was the time between the federal tax proposals of July 18 and the October 16 announcement that the small business tax rate was being reduced from 10.5 per cent to 9.0 per cent, and the draconian income sprinkling rules were being simplified. On the latter issue, the strategy concerns sprinkling income among family members using private corporations. ... [read more]

Wednesday, October 25, 2017 @ 8:35 AM

FEDERAL INCOME TAX - Administration and enforcement - Collection - Third-party assessments - Non-arm's length transfer

Appeal by Brassard from a Tax Court decision dismissing his appeal from an assessment finding him jointly liable for his brother's federal income tax debt. ... [read more]

Tuesday, October 24, 2017 @ 8:35 AM

Backlash prompts Morneau to backtrack on proposed small business tax changes

Last week saw as many new tax changes, outside of a budget, as I can recall in my 30 years of practicing tax law. After burning as much political capital as possible and still facing a voter base in revolt, Finance Minister Bill Morneau announced multiple revisions to the federal government’s previously proposed changes to the small-business tax in Canada. They also offered a large carrot. ... [read more]

Monday, October 23, 2017 @ 8:49 AM

Tax Views: How fair is progressive taxation? | Vern Krishna

The public debate on “fair taxation” has escalated since the Minister of Finance, Bill Morneau, started his political campaign against professional corporations that pay tax at lower tax rates. The general consensus amongst Canadians is that individuals with higher incomes should pay more tax than individuals who earn less. But how much more is “fair”? ... [read more]

Friday, October 20, 2017 @ 3:34 PM

Morneau addresses venture capital, angel investments and tax policy

In order to talk about venture capital and angel investments, on Oct. 20, federal Finance Minister Bill Morneau visited the country's best-known technology startup region, Waterloo, Ont. ... [read more]

Thursday, October 19, 2017 @ 3:46 PM

Morneau explains capital gains tax policy about-face

For the past two days, federal Finance Minister Bill Morneau has been making announcements to clarify the government's proposed changes to the tax system. On day three of his public relations campaign, Morneau addressed the issue of income and capital gains. ... [read more]

Wednesday, October 18, 2017 @ 3:21 PM

Federal government clarifies tax changes

The federal government is once again attempting to get the message out that updates to the tax system are indeed designed to make wealthier Canadians pay their fair share and are not intended to penalize middle class business owners. ... [read more]

Tuesday, October 17, 2017 @ 8:39 AM

Director resignations and personal liability for corporate tax debts

The prospect that a corporate director may be held personally liable for corporate tax debts is the stuff of nightmares. The possibility exists, however, because the Canada Revenue Agency may look to the directors to collect a corporation’s unpaid HST or payroll taxes. ... [read more]