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!
- Proposed legislation expanding the CRA’s audit powers: pitfalls and takeaways
Budget 2024 proposed several amendments to the information gathering provisions in the Income Tax Act (the “Act”) intended to, as stated in the Supplementary Information regarding tax measures, “enhance the efficiency and effectiveness of tax audits and facilitate the collection of tax revenues on a … Read more »
- Maintaining solicitor-client privilege over tax planning communications
Introduction The Tax Court of Canada’s recent decision in Coopers Park Real Estate Development Corporation v His Majesty the King, 2024 TCC 122 (“Coopers Park”) serves as an important reminder of the unique and protected nature of privileged communications between lawyers and clients. In particular, … Read more »
- Tolko Industries Ltd. v. British Columbia – Clarifying “non-qualifying activity” under the Provincial Sales Tax Exemption and Refund Regulation
The British Columbia Supreme Court recently clarified the definition of “non-qualifying activity” under subsection 90(1) of the Provincial Sales Tax Exemption and Refund Regulation, BC Reg 97/2013 (the “PSTERR”) in Tolko Industries Ltd. v. British Columbia 2024 BCSC 599. The issue was whether pipes … Read more »
- 2024 Federal Budget – Major Income Tax Changes Announced
Yesterday (April 16, 2024), the Department of Finance Canada published its 2024 federal budget (“Budget 2024”). Several major tax proposals were announced. This blog post briefly outlines those relating to income tax. 1. Increased Capital Gains Inclusion Rate Budget 2024 announced the Federal Gover … Read more »
- Income tax notices of objection: tips and traps
Filing a notice of objection is the first step a taxpayer must take to dispute an assessment or reassessment issued by the Minister of National Revenue (the “Minister”). Failure to follow the proper procedural rules for filing an objection can result in the taxpayer losing their right to dispute the … Read more »