Goodies

Here come the goodies. From the Finance website: The Honourable Jim Flaherty, Minister of Finance, today tabled in the House of Commons the Budget and Economic Statement Implementation Act to effect the $60 billion of broad-based tax relief proposed in…

NWMM

The Minister of Finance released today a notice of ways and means motion to implement aspects of the March, 2007 budget. Frankly, it’s a bag of goodies for taxpayers. (But I am grateful that this latest release no where uses…

The Long Arm of Section 160

The following article on section 160 of the Income Tax Act (Canada) appeared in the latest edition of the Hamilton Law Association Law Journal. It is an expanded version of one of my posts from August.

Section 160 of the Income Tax Act (the “Act”) permits the CRA to assess “at any time” a taxpayer who receives property for inadequate consideration from a non-arm’s length tax debtor.