Sorbara v. Canada (Attorney General), 2008 CanLII 61246 (ON S.C.) is an interesting case about class action proceedings and Tax Court appeals. The moral of the story: the Tax Court has exclusive jurisdiction over tax matters even though it (probably)…
Budget bill
Bill C-10, “An Act to implement certain provisions of the budget tabled in Parliament on January 27, 2009 and related fiscal measures”, has received second reading in the Senate and been referred to committee.
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.
Crazy
In an article I wrote about three years ago, I pointed out that the purveyors of tax snake oil seemed to be having some success convincing their “clients” that they need not pay income tax.
HLA Paper on Trusts and Estates
I delivered a paper last week at the Hamilton Law Association‘s trusts and estates update. My paper focused on tax issues, of course. The session was very well attended, with well over 100 members of the local bar present.
New forms
The CRA recently issued revised versions of a number of forms and publications, including the T2057 and the “T4001 Employers’ Guide – Payroll Deductions and Remittances”.
Fighting Aggression
PWC sends a tax bulletin to me from time to time, and its latest email contains information about Quebec’s plans to introduce measures to combat ‘aggressive’ tax planning. Apparently, the measures, if enacted, would require taxpayers to disclose the details…
What in the world?
What world does the CRA live in that it could think it would be a good idea to take a 78-year-old woman to Court under section 160 for cashing cheques for her disabled son? See Gambino v. The Queen, 2008 TCC 601.
CDA
The capital dividend account of a corporation (“CDA”) is defined in subsection 89(1) of the Income Tax Act (Canada), and the definition requires that the balance of the account be calculated using something like the following formula:
A + B + C + D + E + F + G – H
Process
The CRA and the Crown like to say (or at least sometimes they act as if), in the objection and Tax Court appeal process, all that matters is whether the assessment in issue is correct. Justice J.E. Hershfield, in Wood v. The Queen, 2008 TCC 105, begged to differ.