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Thursday, June 04, 2020 @ 9:35 AM

GOODS AND SERVICES TAX (GST) - Collection and remittance - Deemed trust

Appeal by the Bank from a Federal Court decision finding that the deemed trust in s. 222(3) of the Excise Tax Act obliged the bank to remit to the Crown that portion of the sale proceeds of a GST debtor’s property caught by the deemed trust. ... [read more]

Thursday, June 04, 2020 @ 8:49 AM

Access to justice and pixie dust: Civil resolution tribunals | Bo Kruk

COVID-19 has changed the manner in which we transact justice. The courts in Ontario have embraced new technology to allow more cases to proceed at an unprecedented rate. While we have searched for technological answers to our new world order, we need not look too far. British Columbia’s Civil Resolution Tribunal (CRT) provides an effective online model that can — and should — be easily transplanted to any other jurisdiction. The CRT offers answers to our technological challenges. ... [read more]

Wednesday, June 03, 2020 @ 8:52 AM

No going back: Technology and court process | Gary Joseph

The COVID-19 shutdown of the court system was initially viewed as a temporary measure to address legitimate health concerns. Most lawyers expected a quick return to “normal” once the pandemic passed. Two things have now become quite apparent: the pandemic is not passing as quickly as we had hoped and, as importantly, there will be a new “normal.” Lawyers need to accept this and get onboard the technology train or they will be left behind. ... [read more]

Wednesday, June 03, 2020 @ 6:51 AM

FEDERAL INCOME TAX - Principles of statutory interpretation - Foreign income

Appeal by Loblaw Financial Holdings from the Tax Court’s dismissal of its appeal from income tax reassessments. ... [read more]

Tuesday, June 02, 2020 @ 2:53 PM

LawPRO loses out on potential $87.8M tax windfall in Federal Court of Appeal decision

LawPRO has failed again in its bid to reap a multimillion-dollar tax windfall by capitalizing on an exemption that was originally geared to corporate entities owned by municipalities or Indigenous self-governing bodies. In Lawyers’ Professional Indemnity Co. v. Canada 2020 FCA 90, the Federal Court of Appeal upheld a 2018 Tax Court of Canada decision that rejected LawPRO’s claim that it should be granted tax-exempt status under a 2013 amendment to paragraph 149(1)(d.5) of the Income Tax Act. ... [read more]

Tuesday, June 02, 2020 @ 2:37 PM

Tax planning strategies in market downturn: Estate freezes, income splitting Two people with calculator

COVID-19 has had a severe impact on the global economy. But as the old saying goes: when life gives you lemons, it’s time for tax planning! In this three-part series, we discuss select tax planning strategies that make use of the market downturn or otherwise mitigate its impacts. In this part, we will discuss estate freezes and income splitting, which are strategies that can capitalize on lower asset valuations. ... [read more]

Tuesday, June 02, 2020 @ 1:41 PM

Litigation risk in COVID-19 environment: Big changes risk_liability_sm

Litigation risks are materially different today, under COVID-19 than at the start of 2020 when the threat of a world-changing global pandemic was barely an idea. The economic and strategic considerations affecting organizations’ litigation decisions are shifting. This article examines that shift and explores the consequences for litigants going forward as they seek to resolve disputes in the pandemic environment — both existing legal disputes and new litigation arising from COVID-19. ... [read more]

Tuesday, June 02, 2020 @ 9:55 AM

Justice and the pandemic: The new gold standard Canada_COVID_sm

This article is the first of a three-part series examining our courts’ response to the pandemic and what it means for the future of the civil justice system. ... [read more]

Friday, May 29, 2020 @ 11:23 AM

Fallout from dirty money and its threat to privacy Moneyfordocuments

In the fallout from Peter German’s sensationally titled and state-sponsored studies, Dirty Money and Vancouver at Risk, looms the spectre of their aftermath which include the eventual recommendations from the Commission of Inquiry into Money Laundering in B.C., political wrangling and policymaking. Thus far, policymakers have called for “greater transparency,” financial reporting requirements, unexplained wealth legislation, enhanced statutory compulsion powers and the creation of vast government databases detailing “beneficial ownership.”  ... [read more]

Thursday, May 28, 2020 @ 3:06 PM

IRS compliance for foreign owners of U.S. rental properties: Challenges, opportunities House made of money

In the post-COVID-19 world, the name of the game in the United States will continue to be compliance — compliance with federal, state and local statutory and regulatory schemes. For evidence of this trend, look no further than the U.S. Internal Revenue Service’s (IRS) new enforcement campaign aimed at ensuring compliance by foreign owners of U.S. rental properties with U.S. laws on taxation of rental income. ... [read more]