Tenant improvements and 15(1)

[In] Wise v R, 2019 TCC 196, … a shareholder successfully argued that tenant improvements made by a related corporation did not confer an immediate benefit for the purposes of subsection 15(1) due to the provisions of the specific legal agreements between the landlord and the tenant.

The legal agreements in question included a five-year commercial lease with an option to renew for another five years.

Robert A. Neilson and Ashvin R. Singh “Are Tenant Improvements a Shareholder Benefit?” 20:1 Tax for the Owner-Manager (January 2020).

Easier access to My Account

Life is easier for a tax adviser if a client has access to his or her “My Account“, not least because the client can add the adviser as an authorized representative quickly and easily. (In fact, the CRA is making…

Source of income

In Stackhouse v R, 2023 TCC 156, Owen J carefully considered comments in Brown v Canada, 2022 FCA 200, and found that they improperly intepreted the test used in Canada v Paletta, 2022 FCA 86, for determining whether a source…

Accessing stranded ACB ok under GAAR

In 3295940 CANADA INC. v R, 2024 FCA 42, the taxpayer appealed the application of the GAAR to a series of transactions that used ACB in shares of a corporation that the purchaser refused to purchase. The transactions, in effect,…

Extension of time to object

The CRA is generally pretty generous when it considers taxpayer applications to extend the time for filing an objection, but there are limits to that generosity, and the Tax Court will often respect those limits. In FOOi Inc. v R,…