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The Federal Court of Appeal (“FCA”) recently upheld the Tax Court of Canada (the “TCC”) decision in Groupe Honco Inc. v. R. (2012 TCC 305 and 2013 CAF 128), where capital dividends were re-characterized as taxable dividends by virtue of...
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Section 56.4 of the Income Tax Act (Canada) dealing with the taxation of payments for restrictive covenants was finally enacted last month. Changes were first proposed in 2003 after the Courts held that non-compete payments were non-taxable. The proposed rules...
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AlbertaBritish ColumbiaOntarioQuébec (English Version)Québec (Version Française)Saskatchewan 2013 Alberta Budget Highlights Regan A. O’Neil, Calgary The 2013 Alberta Budget tabled by The Honourable Doug Horner, Minister of Finance, on March 7, 2013 received royal assent on April 29, 2013. Corporate and...
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The Tax Court of Canada (the « TCC« ) recently considered in Lehigh Cement Ltd. v. R. (2013 TCC 176) (“Lehigh Cement”) the application of the anti-avoidance rule in paragraph 95(6)(b) of the Income Tax Act (Canada) (the “Act”) in the context...
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On May 23, 2013, the Supreme Court of Canada (“SCC”) released its decision in Daishowa-Marubeni International Ltd. v. R. (2013 SCC 29) (“Daishowa”). Rothstein J., writing for a unanimous court, introduced the decision by posing the age-old question “If a tree falls...
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It has been almost five years since the worst economic crisis struck the modern world. While there appears to be some modest improvement in the U.S. economy, many other parts of the world are still struggling or worse (for example,...
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On April 25, 2013, the Federal Court of Appeal (“FCA”) released its decision in the case of MacDonald v. R (2013 FCA 110) (“MacDonald”). Unfortunately for the taxpayer, the FCA in a unanimous decision overturned the decision of Justice Hershfield of...
