Bill C-208: The saga continues…
Bill C-208 has received Royal Assent and is now law, but legislative amendments are expected to support only bona fide business transitions.
Will Bill C-208 reduce tax on inter-generational business transfers?
Bill C-208 proposes changes to the tax treatment of inter-generational transfers of farm, fishing and small business corporations.
Global Minimum Tax Agreement reached by G7
Building off OECD’s Pillars One and Two, the G7 leaders agreed to global tax reform measures targeting large international companies.
Earnouts and payments to nonresidents of Canada
Earnouts can bridge a valuation gap between vendor and purchaser, but the tax consequences can vary depending on the vendor’s residence.
Will you be able to file your taxes on time this year?
The pandemic continues and CRA has refused to provide an extension to the April 30 deadline. What should you do if you cannot file on time?
2021 Canada Federal Budget: Detailed Commentary
Understand the implications on middle-market businesses from the Canada Federal Budget released on April 19, 2021.
Federal carbon levy ruled constitutional
The Supreme Court of Canada has issued its decision, upholding the Federal Greenhouse Gas Pollution Pricing Act as constitutional.
2021 Ontario Budget commentary
The Budget implements several tax measures to stimulate the economy and to support businesses and individuals hardest hit by COVID-19.
2021 tax season has officially launched
February 22 marked the official launch of the 2021 tax season and new measures are already in place in light of an unprecedented 2020.
Employee home office expense deduction simplified
The CRA has released new guidance for claiming the employee home office expense deduction in 2020 due to COVID-19.
Massive overhaul on the horizon – Significantly expanded form T1134
Be prepared for sweeping information disclosure changes related to reporting of foreign affiliates to form T1134 coming in 2021.
Ways to optimize estate planning in the wake of COVID-19
An estate freeze provides a valuable opportunity for business owners to minimize tax both in the short term and in the long term.
Tax updates in Canada in response to COVID-19
Our tax alert summarizes the latest tax measures by federal and certain provincial government authorities amid the coronavirus pandemic.
2020 Ontario Budget Commentary
The Ontario Budget commentary summarizes key business and personal tax measures set out in the Ontario Budget.
2020-2021 Provincial & territorial budgets commentary
A summary of key business and personal tax amendments proposed by the provincial and territorial budgets released this fiscal year.
Restrictive covenant and the share sale veto right
The Canada Federal Court of Appeals decision in Pangaea raises new considerations on the definition of restrictive covenants.
FCA confirms that a space trip is taxable to company shareholders
Find out how shareholder benefits could arise and the potential income tax implications as a result of the In Laliberté vs Canada decision.
Ways to optimize estate planning in the wake of COVID-19
A Capital Dividend Account allows a shareholder to access corporate surplus tax-free, but timing is critical.
How to determine filing obligations for financial institutions
FIs who fail to file returns on time could face significant financial penalties, making it imperative to determine their filing obligations.
GST/HST under Canada Emergency Commercial Rent Assistance Program
Our authors summarize the GST/HST implications of forgivable loan payments and rent reduction offered by commercial landlords under CECRA.