• 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: Individuals

Poker Winnings Taxed

Posted on: February 24, 2023 Last updated on: February 24, 2023 Written by: John Loukidelis
Sometime ago, I wrote a post about the taxation of gains realized at the poker table. I said that the CRA might not be focusing on auditing poker players because the average player loses money. I quoted an article by…
Continue reading “Poker Winnings Taxed”…

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”…

Splitting income for PCs

Posted on: September 15, 2014 Last updated on: September 15, 2014 Written by: John Loukidelis
I’ve written before concerning my doubts about the advisability of issuing shares that are redeemable for a nominal amount but that are entitled to unlimited dividends. Robin MacKnight does not share these concerns: he appears to have no qualms about…
Continue reading “Splitting income for PCs”…

Otteson and the capital gain exemption

Posted on: September 8, 2014 Last updated on: September 8, 2014 Written by: John Loukidelis

The provisions of the Income Tax Act governing when a taxpayer can claim the capital gain exemption in respect of farm property are complex. Otteson v R, 2014 TCC 250, is an interesting case that navigates the provisions in the context of a rather complex set of facts.

Continue reading “Otteson and the capital gain exemption”…

163(1) Due Diligence

Posted on: June 19, 2014 Last updated on: June 19, 2014 Written by: John Loukidelis
A taxpayer can avoid the rather harsh penalties potentially applicable under subsection 163(1) of the Income Tax Act (the “missing T-slip penalty”), if the taxpayer can show that the error in question—the failure to report income—occurred despite the taxpayer’s due…
Continue reading “163(1) Due Diligence”…

Housing Loans

Posted on: March 29, 2014 Last updated on: March 29, 2014 Written by: John Loukidelis
Owner-managers and their advisers need to be wary of housing loans made to a private corporation’s controlling shareholder. In Mast v R, 2013 TCC 309, the Tax Court concluded that the exception to subsection 15(2) of the Income Tax Act…
Continue reading “Housing Loans”…

Paying dividends, again

Posted on: March 25, 2014 Last updated on: March 25, 2014 Written by: John Loukidelis
Neal Armstrong makes note of a recent CRA technical (French only), which confirms that the CRA might not recognize an amount supposedly “paid” as a dividend if it is supported only by accounting journal entries. The well-established principle, per Hickman…
Continue reading “Paying dividends, again”…

Tax schemes

Posted on: August 23, 2013 Last updated on: August 23, 2013 Written by: John Loukidelis

Two recent cases address unsuccessful attempts to avoid tax by dubious means.

Continue reading “Tax schemes”…

Point in time due diligence

Posted on: January 17, 2013 Last updated on: January 17, 2013 Written by: John Loukidelis
A director of a corporation that fails to remit source deductions might be duly diligent to a point in time, and therefore not liable for the failure to that time, but not diligent after that time, and therefore liable for…
Continue reading “Point in time due diligence”…

Income averaging?

Posted on: December 15, 2012 Last updated on: December 15, 2012 Written by: John Loukidelis

Mark Hunter pointed out to me that paragraph 20(1)(j) of the Income Tax Act (Canada) doesn’t work well as an income-averaging tool if used in circumstances where the person taking the loan can’t repay it any time soon or will do so in a year without much income.

Continue reading “Income averaging?”…
1 2 3 … 12 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