The practice of law is changing every day, and the effect of changing legislature on businesses is significant. We write about recent developments in the world of tax & business law, keeping a watchful eye on the changing landscape for our clients. See what we’re thinking about, and what your business should be looking out for.
- Tax LawThe 2018 Federal Budget: Tax Reform for Private Corporations is Softened
The 2018 Federal Budget has been more anticipated than usual for private corporations and their tax advisors. The Budget contains many items of interest for private corporations and high net-worth individuals with corporate-held investments, and is not as punitive as some have feared.Read More
- Tax Law2018 Federal Budget: What Private Companies Need to Know
On February 27, 2018 the Department of Finance (“Finance”) released its 2018 federal budget (the “Budget”). Given the climate surrounding private companies, this Budget in particular was eagerly awaited by owner managers and tax advisors. While the Budget contains many items of interest for large private companies and high net-worth individuals with corporate-held investments, it is not as punitive as some have feared.Read More
- Tax LawTax Dispute Resolution: Monthly Review Vol. 1, No. 2
If a taxpayer is issued a reassessment of tax that is incorrect, recourse may be available if a Notice of Objection to the reassessment is filed. The relatively recent decision in Minister of National Revenue v. ConocoPhillips Canada Resource Corp. serves as a reminder that tax dispute procedures are often stacked against taxpayers.Read More
- Tax LawTax Dispute Resolution: Monthly Review Vol. 1, No. 1
When it comes to tax controversies in Canada, 2017 will be no doubt be chiefly remembered for the government’s July tax proposals related to private corporations. There were other notable items in the world of tax dispute resolution that are worth revisiting, however.Read More
- Tax LawFinance Revisions to Income Sprinkling Proposals Not Likely to Limit the Risk of Increased Tax Disputes
As has been well reported, on July 18, 2017 the Government of Canada released proposed tax changes impacting the taxation of private corporations. Included in the proposals were proposed changes to address “income splitting”. The proposals sought to expand rules that already apply a tax on split income (commonly referred to as the “kiddie tax”) to certain income earned by minor children that is attributable to private corporations run by family members. The government retreated on certain aspects of the proposals in October.Read More
- Tax LawWill the Senate stop Liberals’ tax changes?
On December 13, 2017 the Standing Senate Committee on National Finance released its report on the July 2017 tax proposals announced by the Liberal government. Over eight weeks, the Senate committee heard from 138 witnesses and received 32 written briefs.Read More