In a post I wrote some time ago, I argued that the 10-year limitation rule for fairness (taxpayer relief) applications is ambiguous. I also noted that the CRA believes the rule is clear, and apparently it maintains that position still,…
CRA Report
The CRA has made its annual report to Parliament, and parts of it make for interesting reading. Essentially the report amounts to the CRA’s report card on itself. The report discusses outstanding tax debts among other things. The report notes…
Income-splitting gone wrong
In Demers c. La Reine, 2006 CCI 504, the taxpayer tried to split income with his minor daughters. The Court ruled against the taxpayer, in part because it considered artificial the payment of thousands of dollars of dividends on shares that were issued for only $1.
C-10
Bill C-10 has received second reading in the Senate and has been referred to committee.
Non-competes
Yesterday, I spoke about the new rules for non-competes at an HLA-sponsored seminar. Frankly, my speaking notes aren’t as clear as I would like them to be, even allowing for the fact that the new rules are (needlessly) complex. I…
News releases
The CRA issued a couple of news releases yesterday. One of them warned about RSP “scams”, and the other announced that the CRA had issued a notice of suspension to ‘International Charity Association Network.’ The Department of Finance announced today…
Estate litigation
From Bleak House: Jarndyce and Jarndyce drones on. This scarecrow of a suit has, in course of time, become so complicated that no man alive knows what it means. The parties to it understand it least, but it has been…
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…
More donation warnings
The CRA is embarking on a media campaign to warn taxpayers about fraudulent charities and donation tax shelters. The CRA is cranking up its campaign on this issue, as I have noted previously. For more background, see my posts here…
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…