Tax
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June 27, 2024
Canada sanctions ‘extremist settler violence’ against Palestinians
Canada has imposed sanctions on seven Israelis and five entities in Israel “in response to the grave breach of international peace and security posed by their violent and destabilizing actions against Palestinian civilians and their property in the West Bank.”
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June 27, 2024
CRA warns legal action to recover pandemic benefit overpayments will begin in July
The Canada Revenue Agency (CRA) is warning that it will begin taking legal action in July against individuals who have not co-operated in returning overpayments from COVID-19 benefit programs, including the Canada Emergency Response Benefit (CERB).
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June 26, 2024
Tax Court rules no abuse in non-CCPC plan
On May 9, the Tax Court of Canada released the much-anticipated decision in DAC Investment Holdings Inc. v. The King, 2024 TCC 63 (DAC). The decision is the first judicial ruling on whether a corporate continuance effected in order to exit the Canadian-controlled private corporation (CCPC) tax regime constitutes abusive tax planning.
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June 25, 2024
Canada sanctions Hamas ‘financiers’ in response to Hamas’s Oct. 7 terror attacks in Israel
Declaring “we stand with the Israeli people and call for the immediate release of all hostages,” Foreign Affairs Minister Mélanie Joly announced dealings and entry bans of nine “financiers” of Hamas and Palestinian Islamic Jihad and two Hamas-affiliated financial exchange companies, “effective immediately.”
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June 24, 2024
Liberal government’s ‘intransigence’ and undue secrecy spurs litigation: information commissioner
A recent ruling from the Federal Court affirming a disclosure-of-government records order by Canada’s Information Commissioner illustrates the growth in litigation highlighted by the commissioner's 2023-24 annual report to Parliament, a litigation trend she says is fuelled by the Trudeau government’s court challenges and flouting of her legally binding orders.
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June 24, 2024
Kent Davidson named Chief Justice of Alberta Court of King’s Bench
Prime Minister Justin Trudeau has appointed a new chief justice for Alberta’s Court of King’s Bench, replacing Mary Moreau who was elevated to the Supreme Court last year.
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June 21, 2024
Public school boards are bound by Charter; tribunals’ Charter rulings reviewed for correctness: SCC
In an important Charter and standard of review case, the Supreme Court of Canada has ruled that labour arbitrators and other administrative tribunals “should play a primary role” in deciding Charter issues within their bailiwicks — which Charter determinations courts should review on a “correctness” rather than “reasonableness” standard — and that the Charter applies to Ontario public school boards, thereby protecting board employees’ reasonable expectations of privacy in their workplaces and shielding employees from unreasonable search or seizure by their employers.
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June 21, 2024
Tax implications of Canadians selling U.S. property under Foreign Investment in Real Property Act
The real estate market is heating up again in some areas of the United States, and Canadians may be interested in selling, particularly in time for changes in the capital gains rates in Canada. There are tax consequences for doing this, which need to be understood. We will assume in our examples that the individual is a Canadian tax resident and all dollars are at par.
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June 20, 2024
Ottawa lists Iran’s Islamic Revolutionary Guard Corps as a terrorist entity in Criminal Code
The Government of Canada listed the Islamic Revolutionary Guard Corps (IRGC) of Iran as a terrorist entity under the Criminal Code, effective June 19, 2024.
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June 20, 2024
Inheriting assets: Balancing wealth and family dynamics
A recent legal decision surrounding the death of the founder of the prominent Onni Group, DeCotiis v. DeCotiis Estate, 2023 BCSC 2163, highlighted how important it is for families to use diverse planning strategies to safeguard assets and to keep out of expensive legal disputes.