In St-Pierre c. La Reine, 2007 CCI 90, the taxpayer transferred shares of a corporation to his management company, which he controlled. The management company transferred the shares to the taxpayer’s spouse. The spouse later disposed of shares substituted for…
A Mind Bender
How do subsection 55(2) and Part IV of the Income Tax Act (Canada) work together? The Tax Court considered this question recently in Ottawa Air Cargo Centre Ltd. v. The Queen, 2007 TCC 193 (“Air Cargo”).
Rights and an Ombudsman
A CRA press release just announced a “new” Taxpayer Bill of Rights (isn’t that old news?) and the creation of a Taxpayers’ Ombudsman. I can just imagine the paper piling up at the latter’s office within about 15 seconds of…
LLCs
Last week’s CCH Tax Topics has an interesting article on limited liability companies (LLCs) in light of the B.C. Supreme Court’s decision in Boliden Westmin Ltd. et al. v. The Queen, 2007 BCSC 351.
Bill C-52 Update
Bill C-52 received second reading yesterday and was referred to committee.
Bill C-33 update
Bill C-33 has received second reading and has been referred to committee.
Ontario Corporations Act Update
The Ontario government has announced that it “is undertaking a project to review and reform the Ontario Corporations Act (CA)”. The government is inviting “comments and suggestions from stakeholders and from the public regarding the reform of this important legislation.”
Charity Law Symposium
I spoke about split receipts at the Canadian Bar Association’s National Charity Law Symposium in Toronto today. You can download my presentation here. You can also download a “decision tree” that highlights the issues to be considered in issuing split…
Redeemer Goes to Ottawa
The Supreme Court of Canada today granted Redeemer Foundation’s “application for leave to appeal with costs to the applicant in any event of the cause.” The plot thickens. For my comments on this case, search for “Redeemer” on this…