Last blog added on Thursday, August 15th, 2019

Information About Thorsteinssons’ Tax Blog

Recent Posts

Below is a preview of the five most recent posts from the blog Thorsteinssons’ Tax Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!

  • “Best Lawyers” Names Thorsteinssons for Canadian Tax Law

    Thorsteinssons LLP is pleased to announce that seven of the firm’s lawyers have been included in the 2020 edition of The Best Lawyers in Canada in the areas of tax and trusts & estates law. Paul Gibney, John Gregory, David Thompson, Matthew Williams, Ian Gamble, Terry Barnett, and Michael Colborne w … Read more »

  • Federal Court Rejects Charter Challenge of FACTA Related Provisions of the Income Tax Act

    On July 22, 2019, the Federal Court released its reasons for judgement in rejecting a constitutional challenge of sections 263-269 of the Income Tax Act (Canada) (the “ITA”). The full reasons can be found at 2019 FC 960 (“Deegan”). By way of background, the United States enacted the Foreign Account … Read more »

  • 163(1) Repeated Failure to Report Penalty Upheld

    In the recent decision in Polubiec (2019 TCC 146), the Tax Court of Canada upheld the assessment of approximately $140,000 in penalties under the repeated failure to report income penalty under s. 163(1) of the Income Tax Act (Canada). In the specific case, the unreported amounts related to investme … Read more »

  • Alexander Demner recently quoted in Tax Notes International article

    Alexander Demner was recently quoted in an article about the proposed Facebook coin published in the widely-circulated Tax Notes International. The article focusses on the potential tax pitfalls for uninitiated users of cryptocurrency, including the potential for significant income tax consequences, … Read more »

  • Proposed Changes to GST/HST Rules

    On May 17, 2019, the Minister of Finance published proposed amendments to the GST/HST portion of the Excise Tax Act.  Notable among the proposed amendments is the inclusion of “virtual payment instrument” in the definition of “financial instrument”.  A virtual payment instrument is essentially a pur … Read more »