Another donation case
McPherson v. The Queen, 2006 TCC 648, is yet another tax shelter/donation case that has turned out badly for the donor, so far at least (the case is under appeal).
A useful tool
The Web contains many useful tools for lawyers such as the website of the Canadian Legal Information Institute (CanLII), which provides access to a wealth of statutes and cases. The Web has many other useful tools of course.
OBCA Amendments
In a post I wrote about stock dividends last fall, I mentioned that the Ontario government had tabled a bill to amend the Business Corporations Act to clarify that a nominal amount could be added to the stated capital of shares issued in satisfaction of a dividend.
Damage control
Hammill
Case update
On February 1, I will be speaking to the CRA practitioner’s group at the Royal Botanical Gardens about “Tax Cases of Interest”. I have written here about all of the cases on which I will present. The following table lists the cases together with some notes on their current status:
Salary to children
Bradley v. The Queen, 2006 TCC 500, is something of a surprise. The appellant paid salaries to her young children and attempted to deduct them. The CRA reassessed, and the Tax Court upheld the reassessment because, in the Court’s view, the appellant never really paid anything to the children. She merely deposited amounts to “in trust” accounts for the children over which the appellant had complete control.