Tax Notes

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July 14, 2022

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What should I do with my non-CCPC?!?!

Andrew C. Bateman, Pierce Quaghebeur

Taxpayers who previously engaged in non-CCPC tax planning have a decision to make – and ideally soon. For context, in recent years, a number of Canadian taxpayers implemented planning that involved causing a Canadian-controlled private corporation (“CCPC”) to cease to...

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Cryptocurrency and tax reporting obligations

Molly Luu, Anish Kamboj

Background framework Section 233.3 of the Income Tax Act (Canada)[1] (the “ITA”) requires Canadian resident taxpayers (subject to certain exceptions) and partnerships with Canadian resident members (subject to certain exceptions) (each referred to as a “specified Canadian entity”) to report...

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