The Exemption

I delivered a paper on the capital gains exemption at the Ontario Bar Association yesterday in Toronto at a conference for estates and trusts lawyers.

Deemed proceeds of an asset

In 0808414 B.C. Ltd. v R, 2024 TCC 99, the taxpayer sold equipment to a non-arm’s length purchaser as part of a transaction that also transferred employees and obligations under a pension and benefits plan. The CRA reassessed on the…

Continue reading…

Trust beneficiary liability under s 160

In Barwicz v R, 2024 CCI 93, the Tax Court held that a beneficiary of a trust was liable under section 160 for its unpaid tax to the extent of capital distributions received from the trust. Subsection 107(2), which provides…

Continue reading…

Fraudulent conveyances

In Ontario Securities Commission v Camerlengo Holdings Inc., 2023 ONCA 93, the OSC brought a claim under s 2 of the Fraudulent Conveyances Act (Ontario) (the “FCA”) against a husband and wife. The husband and wife convinced a judge to…

Continue reading…

Purported shareholder loan repayments treated as income

In Kumar v R, 2024 TCC 105 (informal procedure), the Court found that the CRA had properly reassessed the appellant to include in his income payments to him and his son made by a corporation to which the appellant had…

Continue reading…

Minister accepts VD but then reassesses other years anyway

In Milgram Foundation v. Canada (Attorney General), 2024 FC 1405, the Federal Court quashed a decision to reassess a taxpayer for taxation years before years for which the taxpayer had made a voluntary disclosure. The CRA had accepted the disclosure…

Continue reading…

Deemed proceeds of an asset

In 0808414 B.C. Ltd. v R, 2024 TCC 99, the taxpayer sold equipment to a non-arm’s length purchaser as part of a transaction that also transferred employees and obligations under a pension and benefits plan. The CRA reassessed on the…

Continue reading…

Trust beneficiary liability under s 160

In Barwicz v R, 2024 CCI 93, the Tax Court held that a beneficiary of a trust was liable under section 160 for its unpaid tax to the extent of capital distributions received from the trust. Subsection 107(2), which provides…

Continue reading…

Fraudulent conveyances

In Ontario Securities Commission v Camerlengo Holdings Inc., 2023 ONCA 93, the OSC brought a claim under s 2 of the Fraudulent Conveyances Act (Ontario) (the “FCA”) against a husband and wife. The husband and wife convinced a judge to…

Continue reading…

Purported shareholder loan repayments treated as income

In Kumar v R, 2024 TCC 105 (informal procedure), the Court found that the CRA had properly reassessed the appellant to include in his income payments to him and his son made by a corporation to which the appellant had…

Continue reading…

Minister accepts VD but then reassesses other years anyway

In Milgram Foundation v. Canada (Attorney General), 2024 FC 1405, the Federal Court quashed a decision to reassess a taxpayer for taxation years before years for which the taxpayer had made a voluntary disclosure. The CRA had accepted the disclosure…

Continue reading…

Deemed proceeds of an asset

In 0808414 B.C. Ltd. v R, 2024 TCC 99, the taxpayer sold equipment to a non-arm’s length purchaser as part of a transaction that also transferred employees and obligations under a pension and benefits plan. The CRA reassessed on the…

Continue reading…

Trust beneficiary liability under s 160

In Barwicz v R, 2024 CCI 93, the Tax Court held that a beneficiary of a trust was liable under section 160 for its unpaid tax to the extent of capital distributions received from the trust. Subsection 107(2), which provides…

Continue reading…

Fraudulent conveyances

In Ontario Securities Commission v Camerlengo Holdings Inc., 2023 ONCA 93, the OSC brought a claim under s 2 of the Fraudulent Conveyances Act (Ontario) (the “FCA”) against a husband and wife. The husband and wife convinced a judge to…

Continue reading…

Purported shareholder loan repayments treated as income

In Kumar v R, 2024 TCC 105 (informal procedure), the Court found that the CRA had properly reassessed the appellant to include in his income payments to him and his son made by a corporation to which the appellant had…

Continue reading…

Minister accepts VD but then reassesses other years anyway

In Milgram Foundation v. Canada (Attorney General), 2024 FC 1405, the Federal Court quashed a decision to reassess a taxpayer for taxation years before years for which the taxpayer had made a voluntary disclosure. The CRA had accepted the disclosure…

Continue reading…