Tax Notes

December 2016

Displaying 1-2 of 2

Rectification is not Equity’s Version of a “Mulligan” – Words to Heed After Fairmont and Coutu

Robert Graham

Introduction In Canada’s common law jurisdiction, rectification has historically been a powerful equitable remedy which, if granted, enables applicants to “travel back through time” to correct the documentary basis of transactions that have resulted in unintended detrimental tax or other...

More

Half-Loaf Fully Baked?

Amina Boudiffa, Bryant D. Frydberg

In the recent decision Gervais v. R.[1], the Tax Court of Canada confirmed the application of the general anti-avoidance rule (“GAAR”) to a taxpayer who attempted to benefit from his spouse’s lifetime capital gain exemption.  The tax plan implemented is...

More

Displaying 1-2 of 2