Secured Creditor’s Priority Over Unremitted GST/HST: SCC Grants Callidus Capital Corporation Leave to Appeal
On March 22, 2018, the Supreme Court of Canada granted Callidus Capital Corporation (the “Secured Creditor”) leave to appeal the Federal Court of Appeal decision that interpreted subsection 222(3) of the Excise Tax Act (Canada) (the “ETA”) as giving the...
A Cautionary Tale Regarding the GST/HST New Housing Rebate
As an incentive to a prospective buyer, a builder may offer to provide a credit to decrease the purchase price of a newly-constructed or substantially renovated detached house, duplex, or condominium unit (collectively referred to as a “Home“) in exchange...
Budget 2018: Developments Affecting Private Companies
Passive Income Proposals for Private Corporations Budget 2018 contains two new measures to deter the accumulation of passive assets within private corporations. These changes are a welcome departure from the Federal Government’s July 18, 2017 announcement on the treatment of...
$1.4 million award against CRA for malicious, high-handed, and reprehensible conduct – Samaroo v. Canada Revenue Agency, 2018 BCSC 324
Unfortunately, we see the odd bad apple in our civil and criminal dispute resolution practice involving the Canada Revenue Agency (CRA). We try to resolve these matters prior to pursuing the extreme route involving litigation. As one can see from...
Budget 2018: Sales and Excise Tax Proposals
The 2018 Federal Budget (“Budget 2018”) contains a number of excise and sales tax (GST/HST) proposals and amendments that may be relevant to registrants and practitioners. Each of the proposals below deals with issues that may require significant planning or...
2018 Miller Thomson Federal Budget Review
With today’s tabling of the 2018 Federal Budget (the “Budget”), the federal government followed through on its previously expressed commitments to reform the taxation of passive income earned by certain private Canadian corporations. It has also continued to “tighten” the...
A New Era of Private Corporation Tax Rules – Part II
The announcement in Budget 2017 that the Government was reviewing tax reduction strategies using private corporations created uncertainty and much speculation. On July 18, 2017, draft legislation (the “July Proposals“) was released, which proposed to amend many sections of the...
A New Era of Private Corporation Tax Rules – Part I
As people start to get back to their normal routines after the holidays and catch up on news they may have missed between school holiday concerts, client or work events and family commitments, they may have noticed that the Department...
Canadian Tax Ramifications in Connection with Exchanging Cryptocurrency for Cash
There are now over 1,300 cryptocurrencies available online, Bitcoin being the most popular, with new initial coin offerings, or “ICOs”, being announced on what seems like a daily basis. Bitcoin made headlines at the end of 2017 as the price...
Proposed Amendments to the Taxation of Private Corporations – Where Are We Now?
The July 18, 2017 proposals of the Minister of Finance generated a lot of discussion and debate last summer among tax practitioners, professionals, business owners and the general public. Over the course of the consultation period, the Department of Finance...
