• Skip to main navigation
  • Skip to main content
  • Skip to footer
Loukidelis PC

Loukidelis PC

Effective. Accessible. Responsive

  • Services
  • Team
  • LPC Notes
  • Articles
  • Privacy Policy
  • Contact Us
  • Disclaimer
  • Skip to menu toggle button

Category: Corporations

Trusts and control

Posted on: November 29, 2023 Last updated on: November 27, 2023 Written by: John Loukidelis
The CRA accepts that, if A and B are the trustees of a trust that controls Corp1, and A and B also constitute a group that controls Corp2, then Corp1 and Corp2 are related to each other under subparagraph 251(2)(c)(i).…
Continue reading “Trusts and control”…

Part IV tax and amalgamations

Posted on: February 11, 2022 Last updated on: February 11, 2022 Written by: John Loukidelis
Benco is a beneficiary of a trust that owns all of the issued shares of each of Opco1 and Opco2. On November 30, Opco1 pays a dividend to the trust, which allocates it to Benco. Opco1 does not receive a…
Continue reading “Part IV tax and amalgamations”…

Inter-corporate dividends again

Posted on: March 20, 2020 Last updated on: March 20, 2020 Written by: John Loukidelis
In A.G. Stedman “Intercorporate Dividend Planning: More Complexity” 20:1 Tax for the Owner-Manager (January 2020), the author outlines factors to consider when a private corporation proposes to pay a dividend to another private corporation as follows: When a subsidiary corporation…
Continue reading “Inter-corporate dividends again”…

Central mind and management

Posted on: March 2, 2020 Last updated on: March 2, 2020 Written by: John Loukidelis
In Landbouwbedrijf Backx BV v Canada, 2019 FCA 310, the Court agreed that a Dutch company was resident in Canada because the central mind and management of the company was in Canada. The Court found the following facts to be…
Continue reading “Central mind and management”…

New shareholder register

Posted on: January 22, 2019 Last updated on: January 31, 2019 Written by: John Loukidelis
Torys has written a good, short memo on new regulations that will require corporations under the Canada Business Corporations Act to create a new shareholder register that “pertain to all individual shareholders, registered or beneficial, who have significant control, direct…
Continue reading “New shareholder register”…

Residence of a foreign corporation

Posted on: November 7, 2018 Last updated on: November 7, 2018 Written by: John Loukidelis
Landbouwbedrijf Backx BV v R, 2018 TCC 142, considered the residence of corporation under the laws of the Netherlands whose director was resident in that country but whose only shareholders were resident in Canada. In respect of Backx BV’s place…
Continue reading “Residence of a foreign corporation”…

Negative PUC?

Posted on: February 18, 2017 Last updated on: February 18, 2017 Written by: John Loukidelis
The following is a summary of Marie-Emmanuelle Vaillancourt, “Negative Paid-Up Capital and Subsection 84(4) Reduction”, Tax Topics no. 1894 (June 26, 2008). What are the tax consequences when a corporation purports to reduce tax paid-up capital (PUC) when PUC is…
Continue reading “Negative PUC?”…

Real property registry

Posted on: November 26, 2016 Last updated on: November 26, 2016 Written by: John Loukidelis
The Business Corporations Act (Ontario) (the “OBCA”) is being amended effective December 10, 2016, to require a corporation incorporated or continued under the OBCA to maintain a “register of ownership interests in land in Ontario”. The register must identify each…
Continue reading “Real property registry”…

Form matters, again

Posted on: September 1, 2016 Last updated on: September 1, 2016 Written by: John Loukidelis
In David Anthony v Canada (National Revenue), 2016 FC 955, the taxpayer applied for judicial review of a decision of the Minister. The taxpayer had requested that the Minister adjust his return for 2001 to permit the deduction of lease…
Continue reading “Form matters, again”…

Narrow De Facto Control

Posted on: August 16, 2016 Last updated on: August 16, 2016 Written by: John Loukidelis
Ashvin Singh, “FCA Reinstates Narrow View of De Facto Control” 6:3 Canadian Tax Focus (August 2016): The potential expansion of de facto control in McGillivray Restaurant Ltd. (2014 TCC 357) … has been curtailed by McGillivray Restaurant Ltd. v. The…
Continue reading “Narrow De Facto Control”…
1 2 3 … 13 Next page »

Archives

Categories

Recent notes

Canada Child Benefit and Shared Custody

In Wong v R, 2025 TCC 24 (informal procedure), Mr Justice Bocock provided a helpful road map of the surprisingly complicated rules relating to shared custody and entitlement to the Canada Child Benefit.
Continue reading “Canada Child Benefit and Shared Custody”…

Misdirected assessment

Poor Mr Lam trusted his tenant to forward important mail while Mr Lam was out of the country, but the tenant left a 2016 HST assessment in a pile of junk mail. Mr Lam didn’t become aware of the assessment…
Continue reading “Misdirected assessment”…

50-50 shareholders and s 160; directors and independent contractors

McCague v R, 2025 TCC 59, is another section 160 case where 50/50 shareholders caused their corporation to pay them dividends at a time when it owed taxes. The Court held that section 160 applied and summarized the law in…
Continue reading “50-50 shareholders and s 160; directors and independent contractors”…

Preliminary vs preparatory expenses

In Lienaux v R, 2025 TCC 67 (informal procedure), the Court referred to Vesuna v R, 2022 FCA 58, and Gartry v R, 1994 CanLII 19352 (TCC), in denying expenses incurred where the taxpayer had not actually started to carry…
Continue reading “Preliminary vs preparatory expenses”…

Negligence for not reviewing return

In 994552 N.W.T. Ltd. v R, 2025 TCC 55, Mr Justice Bocock considered whether the taxpayer corporation was liable to be reassessed beyond the normal reassessment period for two taxation years and for gross negligence penalties for overclaimed capital cost…
Continue reading “Negligence for not reviewing return”…

Recent Posts

Canada Child Benefit and Shared Custody

In Wong v R, 2025 TCC 24 (informal procedure), Mr Justice Bocock provided a helpful road map of the surprisingly complicated rules relating to shared custody and entitlement to the Canada Child Benefit.
Continue reading “Canada Child Benefit and Shared Custody”…

Misdirected assessment

Poor Mr Lam trusted his tenant to forward important mail while Mr Lam was out of the country, but the tenant left a 2016 HST assessment in a pile of junk mail. Mr Lam didn’t become aware of the assessment…
Continue reading “Misdirected assessment”…

50-50 shareholders and s 160; directors and independent contractors

McCague v R, 2025 TCC 59, is another section 160 case where 50/50 shareholders caused their corporation to pay them dividends at a time when it owed taxes. The Court held that section 160 applied and summarized the law in…
Continue reading “50-50 shareholders and s 160; directors and independent contractors”…

Preliminary vs preparatory expenses

In Lienaux v R, 2025 TCC 67 (informal procedure), the Court referred to Vesuna v R, 2022 FCA 58, and Gartry v R, 1994 CanLII 19352 (TCC), in denying expenses incurred where the taxpayer had not actually started to carry…
Continue reading “Preliminary vs preparatory expenses”…

Negligence for not reviewing return

In 994552 N.W.T. Ltd. v R, 2025 TCC 55, Mr Justice Bocock considered whether the taxpayer corporation was liable to be reassessed beyond the normal reassessment period for two taxation years and for gross negligence penalties for overclaimed capital cost…
Continue reading “Negligence for not reviewing return”…

Archives

Categories

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

About this site

Click here for an important disclaimer about this site.

Archives

Categories

Recent Posts

Canada Child Benefit and Shared Custody

In Wong v R, 2025 TCC 24 (informal procedure), Mr Justice Bocock provided a helpful road map of the surprisingly complicated rules relating to shared custody and entitlement to the Canada Child Benefit.
Continue reading “Canada Child Benefit and Shared Custody”…

Misdirected assessment

Poor Mr Lam trusted his tenant to forward important mail while Mr Lam was out of the country, but the tenant left a 2016 HST assessment in a pile of junk mail. Mr Lam didn’t become aware of the assessment…
Continue reading “Misdirected assessment”…

50-50 shareholders and s 160; directors and independent contractors

McCague v R, 2025 TCC 59, is another section 160 case where 50/50 shareholders caused their corporation to pay them dividends at a time when it owed taxes. The Court held that section 160 applied and summarized the law in…
Continue reading “50-50 shareholders and s 160; directors and independent contractors”…

Preliminary vs preparatory expenses

In Lienaux v R, 2025 TCC 67 (informal procedure), the Court referred to Vesuna v R, 2022 FCA 58, and Gartry v R, 1994 CanLII 19352 (TCC), in denying expenses incurred where the taxpayer had not actually started to carry…
Continue reading “Preliminary vs preparatory expenses”…

Negligence for not reviewing return

In 994552 N.W.T. Ltd. v R, 2025 TCC 55, Mr Justice Bocock considered whether the taxpayer corporation was liable to be reassessed beyond the normal reassessment period for two taxation years and for gross negligence penalties for overclaimed capital cost…
Continue reading “Negligence for not reviewing return”…

© Loukidelis Professional Corporation