Tax
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June 05, 2024
Multiple executors and trustees: pros and cons
First, an explanation of some estate law nomenclature. An executor is the person appointed to carry out the provisions in a will, including distribution of the estate. A trustee is the person appointed in a will (in the case of testamentary trusts) or other trust document (i.e., an inter vivos trust) to administer a trust for the benefit of other persons.
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June 04, 2024
Canada to provide automatic permanent residence to foreign nationals arriving under caregiver programs
Ottawa says it will roll out two new pilot programs later this month that will offer home-care workers from abroad permanent residence on their arrival in Canada.
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June 04, 2024
Hodgson Russ celebrates 35 years in Canada
U.S. firm Hodgson Russ is celebrating its 35th Canadian anniversary, a news release from the firm announced.
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June 03, 2024
SCC’s Wagner urges vigilance, strong defence against false information, justice system attacks
Canada’s top judge says elected officials should not attack the justice system or the judiciary, based on false information that could shake public confidence.
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June 03, 2024
Home-flipping tax proposed in British Columbia
The B.C. government plans to introduce a 20 per cent tax on income earned from the sale of a residential property within 730 days of acquisition (the Flipping Tax). The tax, announced in the 2024 budget and subject to legislative approval, will be imposed under the Residential Property (Short-Term Holding) Profit Tax Act. It is scheduled to take effect Jan. 1, 2025 and will be retroactive to the 2023-24 tax year.
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June 03, 2024
COMMUNITIES AND GOVERNANCE — Self-governance — Councils — Powers — Taxation
Appeal by appellants from conclusion of chambers judge that policies adopted by Metis Settlements General Council (Council) represented reasonable exercise of Council's delegated authority under Metis Settlements Act (MSA) and were therefore lawful.
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June 03, 2024
Bill C-71 depreciates Canadian citizenship | Sergio R. Karas
On May 23, 2024, Immigration Minister Marc Miller introduced Bill C-71, An Act to Amend the Citizenship Act (2024), in Canada’s Parliament. This bill aims to extend citizenship by descent beyond the first generation, allowing children of Canadian citizens born abroad to pass their citizenship on to their children. Further, Bill C-71 seeks to restore citizenship to “Lost Canadians” — individuals who lost or never acquired Canadian citizenship due to changes in the legislation.
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May 31, 2024
SCC gives guidance on interpreting exclusion clauses, applying standards of appellate review
The Supreme Court of Canada has clarified what is required for an exclusion clause in a contract of sale to exempt the seller from an implied condition under Ontario’s Sale of Goods Act (SGA) and has also clarified what standards of appellate review apply when trial courts interpret contracts involving implied statutory conditions.
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May 30, 2024
RRSPs: Their consequences for estates, beneficiaries
A landmark budget speech was delivered to Canada’s House of Commons on March 14, 1957, by Walter Harris, minister of Finance under the Liberal government of Louis St. Laurent. Despite John Diefenbaker’s rise to power on June 10, 1957, mere months later, the groundwork was laid for the implementation of the registered retirement savings plan (RRSP) in Canada.
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May 29, 2024
Parliamentary budget officer reports federal corporate income tax revenues up 87 per cent
Federal corporate income tax revenues have grown by 87 per cent between 2019-20 and 2022-23 to reach $93.9 billion, boosted by sharp increase in collections from the manufacturing, real estate and wholesale trade sectors, according to a report by the Parliamentary Budget Officer (PBO).