Corporate Tax

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Toronto and Ottawa vacant homes tax: Don’t forget to file your declaration for 2022!

In 2022, Toronto and Ottawa introduced vacant homes tax regimes.[1] These regimes are modelled after the empty homes tax regime introduced in Vancouver in 2017, and are aimed at incentivizing owners of vacant residential properties to sell or rent their...

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“Checking the Box” not enough to avoid director’s liability for outside director

A decision of the Tax Court of Canada has provided further insight into the duties of an “outside” director who wishes to rely on the due diligence defence to avoid a director’s liability assessment under the Income Tax Act (the...

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The Celsius bankruptcy and application of the bad debt rules

Many cryptocurrency lenders have declared bankruptcy. These loss events are indicators of the significant losses the cryptocurrency market has experienced this year. For investors who have suffered, an important consideration is how to capitalize on these losses. Accordingly, this article...

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Federal Government targeting independent contractor arrangements with road transportation workers

Businesses in the trucking industry may soon face increased scrutiny from the Federal Government respecting the classification of drivers as independent contractors. With the release of the 2022 Fall Economic Statement, it was announced that the Federal Government will allocate...

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Tax treatment of stock options granted to independent contractors

The tax treatment of stock options granted to employees has been well established by the Income Tax Act (Canada) (the “ITA“) and related commentary. In particular, Section 7 of the ITA contains the taxation rules for stock options granted to...

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A primer on ABIL claims: Part II

Primer on when you can claim ABIL This article will be the second in a series of articles that discusses the Allowable Business Investment Loss (“ABIL”) within the meaning of the Income Tax Act (Canada) (“Act”). In particular, this article...

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The increasing popularity earnouts

Due to the economic impact of the COVID-19 pandemic and the recent volatility of stock markets, we have noticed an increased perceived valuation gap between vendors and purchasers in the context of M&A transactions. As a result, contingent consideration arrangements...

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Is the burden of proof in tax litigation always on the taxpayer?

Burden of proof is a complex subject in Canadian tax litigation and has been heavily debated in recent years. While many mistakenly think the concept can be summarized by the often-heard phrase “the burden of proof in tax matters is...

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Implementation of enhanced trust reporting requirements delayed one year

We previously wrote on Finance Canada’s proposed expansion of the reporting requirements for Canadian trusts, including the proposed expansion of the rules to capture bare trust arrangements. You can read our latest article here. The new filing and reporting requirements...

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Books and records: Document retention policies and best practices when dealing with the CRA

The proper maintenance of a business’ books and records is essential when dealing with an audit initiated by the Canada Revenue Agency (the “CRA”). Taxpayers should be cognisant of their recordkeeping obligations under the Income Tax Act (Canada) (the “Act”)...

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Leading tax lawyer

Proud to announce Partner Cathie Brayley has been recognized as a ‘highly regarded’ tax lawyer by International Tax Review’s Women in Tax Leaders: Guide to the World’s Leading Female Tax Practitioners.

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Federal Budget Review

Read our Federal Budget Review for insights and analysis into key areas of the budget and how developments might affect you and your business.

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Tax Notes

Read the latest issue of Miller Thomson’s Tax Notes publication

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