tax in the current time zone - professional development · tax in the current time zone © 1...

Professional Development Course

Tax in the Current Time Zone

COPYRIGHT © Chartered Professional Accountants of British Columbia

All rights reserved. No part of this publication/course material may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means (photocopying, electronic, mechanical, recording or otherwise) without the prior written permission of the copyright holder and publisher, applications for which shall be made to the Chartered Professional Accountants of British Columbia, 800-555 West Hastings Street, Vancouver, BC, V6B 4N6.

DISCLAIMER

This course material deals with complex matters and may not apply to particular facts and circumstances. As well, the course material and references contained therein reflect laws and practices which are subject to change. For these reasons, the course material should not be relied upon as a substitute for specialized professional advice in connection with any particular matter.

Although the course material has been carefully prepared, neither the Chartered Professional Accountants of British Columbia, the course author and/or firm, nor any persons involved in the preparation and/or instruction of the material accepts legal responsibility for its contents or for any consequence arising from its use.

October 2017


© 1

Important Note: Proposed tax changes

As there was a slight lag in time between when the presentation materials were prepared and the actual presentation date, some updates made to the proposed tax changes between that time would not have been reflected in the course material.

• Material submission date: October 13, 2017

• Session recorded date: October 25, 2017

Tax in the Current Time ZoneShane Onufrechuk, FCPA, FCAEdwin G. Kroft, Q.C

October 25, 2017


© 2

© 2017 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. 3

Agenda

1. Legislative Updates

2. CRA Technical Interpretations and Other News

3. Case Review

© 2017 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. 4© 2017 KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative

(“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.4

Legislative Update


© 3


Legislative Update

• Federal

• Provincial


2017 Federal Budget


© 4



Business Tax Measures


Large Business Tax Rates – How Do We Compare?

General Corporate Tax Rates (Active Income over $500,000)

2016 2017 +

Federal 15.0% 15.0%

BC 11.0% 11.0 / 12.0%*

Combined BC 26.0% 26.0 / 27.0%*

Combined Ontario 26.5% 26.5%

Combined Alberta 27.0% 27.0%

Washington (over $10M) 35.0% 35.0%

California 41.0% 41.0%


© 5



De Facto Control Test

• Relevant for determining if corporations are associated

• Impacts small business deduction sharing and access to refundable ITC’s

• Recent case limited de facto control test to “legally enforceable rights”

• Legislation broadens factors to include all influence factors whether or not legallyenforceable



Gains and Losses on Derivatives

• Elect to use mark to market method on derivatives held on income account• Available for taxation years beginning after the budget date

• Anti-avoidance rules to close loopholes on straddle transactions• Stop loss rule on loss related to one arm of straddle where there is an unrealized

gain on the other arm of the straddle


© 6



Investment Fund Mergers

• New rules allow mutual fund switch corps to convert into mutual fund trusts on a taxdeferred basis

• Required after 2016 removal of benefit of mutual fund switch corps

• New rules allowing segregated funds to merge on a tax deferred basis



Clean Energy CCA Rate Changes

• Expansion of Class 43.1 and 43.2 to include certain geothermal energy equipment

Oil and Gas Changes

• Drilling costs to complete discovery wells CDE going forward instead of CEE

• Previously small resource corps allowed first $1 million of CDE to be re-characterized as CEE

• After 2018 re-characterization no longer permitted


© 7


Investment Income Earned by CCPC In BC

No change for 2017

2016 2017 2018 Increase

Non Refundable Tax 19.0% 19.00% 20% 1%

Refundable Tax 30.7% 30.7% 31.7% 1%

Combined BC 49.7% 49.7% 50.7% 1%

Dividend Refund Rate 38.33% 38.33% 38.33% -

Part IV Tax On Dividends 38.33% 38.33% 38.33% -


Small Business Tax Measures

Phased-in decrease in small business tax rate eliminated and to remain at 10.5% (was to have been reduced to 9% by 2019)

Small Business Corporate Tax Rates (Active Income under $500,000)

2% rate announced in the BC Budget effective April 1, 2017

Year Federal BC Combined

2016 10.5% 2.5% 13.0%

2017 10.5% 2.5 / 2% 13.0 / 12.5%

2018-2020 10.5% 2% 12.5%


© 8


Small Business Tax Measures

Loss of WIP Deferral for Professionals

• Doctors, lawyers, accountants etc. could historically defer including WIP intotaxable income until the work was billed

• For year ends ending after the budget date no WIP deferral will be allowed

• Transitional rules for the first year after the rules change (WIP brought into incomeover 5 years)



Private Company Consultation PaperJuly 18, 2017


© 9



Income Sprinkling:Tax on Split Income


Typical Income Splitting Structure

FAMILY TRUST

OPCO

FOUNDER

Fixed value preferred shares

Dividends

Beneficiaries:• Founder• Spouse• Children• Other?

Common shares


© 10


What’s Happened?

Effective after 2017, the rules pertaining to income tax on split income (“kiddie tax”) are being expanded in the following ways:

• More types of income will be subject to tax;• Any Canadian resident (regardless of age) with a connection to a private

company; and• A new reasonableness test based on labour and capital contribution,

including previous returns/remuneration paid

Proposed rules would eliminate the potential tax savings on existing income splitting plans


Who is affected?

Specified Individual

Connected Individual

Corporation

Related?

Influence?Receives income from corporation< 18 yrs.> 18 yrs.


© 11


What Is Changing?

Effective 2018, Tax on Split Income (“TOSI”) from connected entities will be expanded to include:

• Income on private company debt• Capital gains on private company shares• Compound income on property subject to TOSI for individuals under 25• Certain shareholder benefits


What Is Changing?

Who could be affected?• “Specified” individual (regardless of their age) or a person related to a

“connected” individual• A connected individual includes the following factors related to a

private corporation:• Strategic influence• Equity influence• Earnings influence• Investment influence

• The connected individual concept also applies to business incomederived from a partnership or a trust

• Related individuals now include uncles, aunts, nephews and nieces


© 12


What is considered reasonable?

Specified individuals 18 - 24 Specified individuals 25 and over

Labour contributions, to the extent- Actively engaged on a regular,continuous and substantial basis

Labour contributions, to the extent the individual is involved in the business

Capital contributions, subject to a prescribed rate maximum return (iecurrently 1%).

Capital contributions, to the extent the individual has contributed assets or assumed risk

Compound income (ie income on income) included in TOSI

Anti-avoidance:

- Labour contribution is not considered if more than 50% of income is from property

- No contribution if contribution from split income or from loan or guarantee


How this May Impact You?

Beginning in 2018, taxpayers need to consider the following:• Eliminates virtually all income splitting opportunities for those

individuals not actively involved (labour or capital contributions) in thebusiness

• Loss of tax saving opportunities to adult family members due to TOSIproposals up to $30,000 to $37,000 per person (depending on provinceof residence)

• Greater complexity and subjectivity in determining reasonableness ofincome paid to specified individuals

• A portion of the income may be reasonable (and a portion notreasonable)

• TOSI will now impact whether the individual would qualify for certainincome-tested benefits


© 13



Holding Passive Investments In Private Corporations


What’s Happened

• Finance Objectives:• Fairness• Neutrality• In substance: Shareholders and employees end up with the same after-tax

savings in their personal bank accounts regardless of the source of thecapital

• White paper issued July 18, 2017• Comments accepted until October 2, 2017• Draft legislation to follow?• Effective dates uncertain


© 14


Background – Income Integration

• One of the key features of the Canadian income tax system is the concept of income integration

• All types of income should ultimately attract the same level of tax whether earned through a corporation or by an individual

• Corporations that do not distribute their after-tax earnings as dividends or reinvest those funds in their businesses can invest more in passive investments than employees

Income Integration:Corporate tax + Dividend tax = Personal tax on income earned directly

*Income tax rate depends on availability of small business deduction

Employee Corporation* Corporation*

Active income $100 $100 $100

Less: income tax (50) (14) (27)

50 86 73

Less: dividend tax - (36) (23)

After-tax income $ 50 $ 50 $ 50


Background – Existing Passive Tax System

• Refundable taxes (RDTOH)

• Capital dividend account (CDA)

Individual Corporation

Investment income $100 $100

Less: income tax (50) (50)

50 50

Add: dividend refund - 31

Less: dividend tax - (34)

After-tax income $ 50 $ 47

Passive income is integrated


© 15


Alternative Approaches

• Apportionment method

• Elective method• Default treatment• Elective treatment

• Corporation focused on passive investments


Apportionment Method

• Track after-tax income in three separate pools:• Small business rate• General rate• Shareholder contributions

• Allocate passive investment income of the corporation to these pools

• Corporations can designate which pool dividends are paid from:• Non-eligible dividends• Eligible dividends• Tax-free dividends

• Maintain same tax rate on investment income

• Eliminate refund of refundable corporate taxes when dividends paid

• Dividend tax rate will depend on source of capital used to fund passive investments


© 16


Elective Method

Active Income Passive Income Dividend Distributions

Default method SBD eligible Non-refundable tax Non-eligible dividends

Election filed General rate only Non-refundable tax Eligible dividends

• Default tax rates unless elect otherwise

• Election would eliminate the ability to claim the small business deduction

• Maintain same tax rate on investment income

• Eliminate refund of refundable corporate taxes when dividends paid

• Dividend tax rate will depend on source of capital used to fund passiveinvestments


Corporations Focused on Passive Investments

• Additional election possible for both methods

• All income generated by the corporation taxed as passive investment income

• Existing refundable tax system applies

• Additional refundable tax may apply to inter-corporate dividends received

• Unclear whether existing CDA rules to continue to apply to capital gainsrealized by the corporation


© 17


Alternative Approaches – Effective Tax Rates

Individual

Corporation (existing

rules)

Corporation (proposed

rules)

Interest income 50% 53% 71%

Capital gains 25% 27% 57%

Public company dividends 32% 32% 64%

No longer integration for passive income

Income integration

No income integration


Transitional Rules

• According to the Department of Finance:• New rules are to apply on a go-forward basis• New rules are to have limited impact on existing passive investments• Time will be provided before the new regime becomes effective• Avenues for tax avoidance to be considered and addressed• New rules are not intended to impact taxes payable by corporations with

no passive investment income


© 18


Transitional Rules - Unknowns

• Unanswered questions remain how Finance plans to ensure limited impacton existing passive investments, for example:

• How will income on those investments be taxed?

• How will unrealized accrued gains on those investments be taxed?

• How will distributions of the capital used to fund those investments betaxed?

• Will capital assets used in an active business that are sold be subject tothe new tax regime?



Next Steps


© 19


What does this mean for us?

• Minimal ability to income split in the future (2017 is the last year)• Disincentive to accumulate corporate investment assets• Consider winding up trusts and/or restructuring• Compensation plans will have to be revisited• Estate plans will have to be revisited• Divestiture plans will have to be revisited• Retirement plans will have to be revisited• Succession plans will have to be revisited



Personal Tax Measures


© 20




• Top Marginal Rates

• Registered plan anti-avoidance rules

• Changes to miscellaneous tax credits


Personal Tax Rates – Top Marginal Rates

Federal and BC Top Marginal Rates

BCSalary & Interest

Capital Gains

Eligible Dividends

Non-Eligible Dividends

2016 47.7% 23.85% 31.3% 40.60%

2017 47.7% 23.85% 31.3% 40.95%

2018 49.8% 24.90% 34.2% 43.41%


© 21



Registered Plan Anti-Avoidance Rules

• Previous budgets put rules in place to prevent inappropriate trading andinappropriate assets being held in RRSPs, TFSAs and RRIFs

• Rules extended to RESPs and RDSPs

• Effective for transactions occurring and amounts held after the budget date

• Some transitional rules provided



Caregiver Credit Regime Revamped

• Previously 3 separate caregiver credits• Infirm Dependent Credit• Caregiver Credit• Family Caregiver Credit

• Replaced with one credit called the Canadian Caregiver Credit• $6,883 or $2,150 depending on claimant• Reduced based on dependents NI over $16,163• Effective 2017 and subsequent years


© 22



Medical Expense Tax Credit

• Clarification that costs of medically induced conception of a child are eligible

• Applies to 2017 and subsequent years

• Can elect to apply to any of preceding 10 years

Disability Tax Credit

• Nurse practitioners can now certify eligibility for DTC


Personal Tax Measures – Reduced Incentives

Public Transit Credit

• Eliminated effective July 1, 2017

Ecological Gifts Program

• Tax on transfers of eco-gift assets for consideration

• Loss of ability for private foundations to receive eco-gifts

Home Relocation Loan Deduction

• Previously a deduction was available equal to the taxable benefit associated with thefirst $25,000 of a home relocation loan

• Effective 2018 onward, this deduction is repealed


© 23


Personal Tax Measures - Other

• 15% METC extended one year to flow through shares issued before March 2018

• T4s to be able to be distributed electronically 2017 onwards

• Tuition tax credit• Eligible tuition extended to occupational skills courses not at the post-secondary level• Must provide or improve skills in an occupation• Applies to 2017 and subsequent year


Other Federal Changes


© 24


GAAR: Bill C-362

• Private member’s bill (Rankin; NDP)

• An Act to amend the Income Tax Act (economic substance)

Economic substance

Section 245 of the Income Tax Act is amended by adding the following after subsection (4):

(4. 1) An avoidance transaction that would result, directly or indirectly, in a tax benefit, the amount of which exceeds the amount of the actual or anticipated financial benefit of the transaction to the taxpayer, is deemed, in the absence of evidence to the contrary, to be a misuse of the provisions of any one or more of the enactments referred to in subparagraphs (4) (a) (i) to (v).

• So far, first reading only


Other Federal Changes

• Restrictions on the Multiplication at the SBD

• Repeal of ECP Regime

• Changes to 55(2) Rules


© 25


Legislative Update – Provincial


BC Budget 2017 Update

Most significant income tax changes (included in previous tables):

• Return of top marginal rate to 16.8% for incomes > $150,000

• Reduce small business corporate income tax rate to 2%

• Increase general corporate income tax rate to 12%

Other income tax changes:

• Equity tax credit budget for Small Business Venture Capital Act increased by $3.5m

• Restore preferential tax benefit for credit unions (~$10m/year)


© 26



Income tax credits:

• Tax credit extensions for mining flow-shares, training, book publishing, & SR&D

• Tax credit changes:o Expand scope of mining exploration tax credit to include costs incurred for

environmental studies and community consultationso Allow venture capital corporations to access interactive digital media tax credito Adjust boundaries of Vancouver region for regional film tax credit

• Tax credit eliminations: children’s fitness and art credits

• New tax credits: back to school tax credit (2016 only), volunteer firefighters and search and rescue volunteers (2017 onward)



Carbon tax changes:

• Starting April 1, 2018, $5/tonne increase in carbon tax per year until reach $50/tonneo gasoline: from 6.67¢/L now, to $7.78¢/L on April 1, 2018, to 11.12¢/L

on April 1, 2021o Will ostensibly reach federally mandated $50/tonne rate in time

o Federal technical paper requires $11.63¢/L by 2022

• No longer revenue neutral

• Increase in low income carbon tax credit


© 27



Information sharing

• BC Assessment must share information with the provincial minister and the Commissioner of Income Tax

• Home Owner Grant information to be shared for Income Tax Act administration and enforcement

• Income tax information to be shared for home owner grant administration and enforcement


BC Budget Fall 2017

Other tax measures of note:

• MSP premiums:o Reduced by 50% for 2018 (simpler application than previous govt)o Plan to eliminate within 4 yearso Task force to advise and recommend how best to replace MSP premium revenue

(~$2.5b/year)

• Phased elimination of PST on electricity (eliminated by April 1, 2019).

• Tobacco tax increase 24.7 cents per cigarette/gram of tobacco

• International business activity program eliminated (~$10m/year)


© 28


BC: Property Tax Matters

Vancouver Vacancy Tax

• Via amendment to Vancouver Charter (not available to other municipalities currently)

• Applies starting 2017 to residential property unless…o Principal residence of owner or family or friend for 6 months/yearo Rented for at least 6 months of yearo Other: owned by estate, redevelopment or major renovations, owner in care, rental

restriction/prohibition, sale during year, secondary residence of person employed in Vancouver, residential house cannot be built

• Property status declaration required

• 1% of the property’s assessed value

• Penalties of $250-$10,000 for violation of bylaw, sometimes on per day basis


Administrative Update –Federal


© 29


Voluntary Disclosure Changes

CRA reports that for 2014-15:

• the total income from all voluntary disclosures was more than $1.3-billion, with $780-million coming from offshore;

• there were 19,134 voluntary disclosures received in fiscal year 2014-15.

Changes

• Abolition of no-names disclosure process

• General program versus limited programo General is for inadvertent or minor non-complianceo Limited interest reliefo Payment upfront of estimated tax


Voluntary Disclosure Changes

Changes (cont’d)

• Limited relief for “major non-compliance”o Relief only from criminal prosecutiono Active avoidance, large dollar amounts, multiple years of non-compliance, sophisticated

taxpayer, CRA compliance focus area, high culpabilityo E.g., offshore accounts

o What about immigrants who failed to report but accounts unrelated to unpaid taxes? Children who inherited accounts set up by parents?

• No reliefo Income from illegal activities, corporations with gross revenues > $250m, transfer pricing

• Disclosure of advisor identity


© 30


Tax Evasion and Tax Avoidance

Additional $523.9 million over five years to prevent tax evasion and improve tax compliance:

• Used to fund new initiatives and extend existing programs such as:o Increasing verification activitieso Hiring additional auditors and specialists with a focus on the underground economyo Developing robust business intelligence infrastructure and risk assessment systems to

target high-risk international tax and abusive tax avoidance caseso Improving the quality of investigative work that targets criminal tax evaders


CRA Technical Interpretations & Other News


© 31


CRA Technical Interpretations

• TI 2015-0610711C6 CRA Reverses Position—GAAR will apply to Section 84.1 Surplus Stripping Transactions

• In a previous 2005 tax ruling (2005-0134731R3), the CRA had concluded that the GAAR would not apply to a series of transactions undertaken to accomplish an intergenerational transfer of shares in a business

• Based on the Descarries decision, the CRA now recommends that the GAAR would apply to a series of transactions similar to the proposed transactions in the 2005 ruling

• It appears the CRA will challenge any planning where a capital loss is created through the use of V-Day value or the capital gains exemption (soft ACB) and the loss is applied to offset the gain on shares of a closely held corporation



• TI 2016-0625731C6 Reminder — Voluntary Disclosure Fees Might Not Be Deductible

• CRA recently released a TI in which it states that taxpayers cannot deduct professional fees related to a voluntary disclosure, unless they relate to a business

• A deduction will generally be available as soon as the CRA informs the taxpayer that it accepts the voluntary disclosure and that it will revise the taxpayer's income or the tax liability under the voluntary disclosure program

• TI is consistent with a 2012 TI where the CRA confirmed that the fees incurred by a taxpayer for purposes of submitting a claim under the VDP are not deductible


© 32



• TI 2015-0614241C6 CRA Says Back-to-Back Loan Rules Apply to Notional Cash Pooling Arrangement

• CRA states that a notional cash pooling arrangement can cause both the thin capitalization and non-resident withholding tax rules to apply

• CRA states that it would consider the deposit balances of the non-resident pool participants to be "intermediary debts“, such that the back-to-back loan rules would apply

• CRA says it has support for its position under the law, as well as within the Department of Finance's Explanatory Notes which accompanied the bill that enacted the back-to-back loan rules



• TI 2014-0560371I7 CRA Reverses Position on Deductibility of Foreign Taxes Paid in U.S. LLC Structure

• CRA confirms that a Canadian resident individual is entitled to a deduction for the U.S. taxes she paid on business income earned by a U.S. limited liability company (LLC)

• CRA previously stated that because an LLC earns active business income and is a disregarded entity for U.S. tax purposes, the foreign tax paid would be “business-income tax” and would not be deductible

• CRA appears to reverse its positions expressed in previous TIs and accept the Tax Court of Canada’s findings in FLSmidth Ltd. v R. (2012 TCC 3) affirmed in 2013 FCA 160


© 33



• TI 2016-0637341E5 Loans to a Limited Partner Could “In Theory” Cause Negative ACB

• CRA states that loans made by a limited partnership to a limited partner could in theory reduce the adjusted cost base (ACB) of that partner’s interest in the partnership

• If the ACB of the limited partner’s interest is negative at the end of the partnership’s fiscal period, the limited partner will generally be deemed to realize a gain equal to the amount of its negative ACB

• Based on the CRA’s view, it may be preferable to avoid tying the amount and timing of loans and repayments in a manner where they could be viewed as replacing partnership distributions


Tax Evasion and Tax Avoidance

• Additional $523.9 million over five years to prevent tax evasion and improve tax compliance

• Used to fund new initiatives and extend existing programs such as:

• Increasing verification activities

• Hiring additional auditors and specialists with a focus on the underground economy

• Developing robust business intelligence infrastructure and risk assessment systems to target high-risk international tax and abusive tax avoidance cases

• Improving the quality of investigative work that targets criminal tax evaders


© 34


Other News

• Employment Insurance benefits expanded

• New EI caregiving benefits (up to 15 weeks)

• More flexibility in EI parental benefits

• EI maternity benefits up to 12 weeks before due date (up from 8 weeks)

• Transparency Reporting Regime for resource companies launched

• Affected businesses must file reports for their fiscal years that begin after June 1, 2015

• Government Committee Recommends Tightening Voluntary Disclosure Program

• CRA Requests Details of Taxpayer’s Electronic Funds Transfers


Case Review


© 35


Case Review

• Privilege and the Income Tax Act

• Transactions Denominated in Foreign Currency and their Canadian Tax Consequences

• Developments in GAAR Jurisprudence

• Deductibility of Expenses Incurred in M&A Transactions and Takeovers

• Offshore Investment Fund Property, Section 94.1 and Judicial Developments

• Judicial Review of the Administration of the Act

• Evolution of the Judicial Articulation of SR&ED

• Rectification and the End of Juliar

• Enforcing the Settlement of Tax Disputes

• New Limits on the CRA’s Access to Working Papers During Audit


Privilege and the Income Tax Act

Canada (Attorney General) v. Chambre des notaires du Quebec, 2016 SCC 20 - https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/15989/index.do

Canada (National Revenue) v. Thompson, 2016 SCC 21 - https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/15990/index.do

Iggillis Holdings Inc. v. Canada (National Revenue), 2016 FC 1352 - http://decisions.fca-caf.gc.ca/fc-cf/decisions/en/212904/1/document.do


© 36


Transactions Denominated in Foreign Currency

The Queen v. Agnico-Eagle Mines Limited, 2016 FCA 130 - http://decisions.fca-caf.gc.ca/fca-caf/decisions/en/143861/1/document.do

Ferlaino v. The Queen, 2016 TCC 105 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/143869/1/document.do


Developments in GAAR Jurisprudence

Univar Holdco Canada ULC v. The Queen, 2016 TCC 159 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/145671/1/document.do

Gervais c. La Reine, 2016 CCI 180 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/fr/180239/1/document.do

Quinco Financial Inc. v. The Queen, 2016 TCC 190 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/180708/1/document.do


© 37



Oxford Properties Group Inc. v. The Queen, 2016 TCC 204 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/180481/1/document.do

Pomerleau c. La Reine, 2016 CCI 228 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/fr/182338/1/document.do

594710 British Columbia Ltd. v. The Queen, 2016 TCC 288 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/214313/1/document.do



Veracity Capital Corporation v. The Queen, 2017 BCCA 7 -https://www.canlii.org/en/bc/bcca/doc/2017/2017bcca3/2017bcca3.pdf

1245989 Alberta Ltd. v. The Queen, 2017 TCC 51 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/229679/1/document.do


© 38


Deductibility of Expenses Incurred in M&A Transactions and Takeovers

Rio Tinto Alcan Inc. v. The Queen, 2016 TCC 172 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/146037/1/document.do


Offshore Investment Fund Property and Judicial Developments

Gerbro Holdings Company v. The Queen, 2016 TCC 173 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/212574/1/document.do

Barejo Holdings ULC v. The Queen, 2016 FCA 304 - http://decisions.fca-caf.gc.ca/fca-caf/decisions/en/212760/1/document.do


© 39


Judicial Review of the Administration of the Act

AFD Petroleum Ltd. v. Canada (Attorney General), 2016 FC 547 - http://decisions.fca-caf.gc.ca/fc-cf/decisions/en/144210/1/document.do

CGI Holding LLC v. Canada (National Revenue), 2016 FC 1086 - http://decisions.fca-caf.gc.ca/fc-cf/decisions/en/180623/1/document.do

Cybernius Medical Ltd. v. Canada (Attorney General), 2017 FC 226 - http://decisions.fca-caf.gc.ca/fc-cf/decisions/en/228960/1/document.do


Evolution of the Judicial Articulation of SR&ED

Oldcastle Building Products Canada Inc c. La Reine, 2016 CCI 183 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/fr/179757/1/document.do

Joel Theatrical Rigging Contractors (1980) Ltd. v. The Queen, 2017 TCC 6 -http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/218140/1/document.do


© 40


Evolution of the Judicial Articulation of SR&ED

Life Choice Ltd. v. The Queen, 2017 TCC 21 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/218483/1/document.do

Formadrain Inc. c. La Reine, 2017 CCI 42 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/fr/228699/1/document.do


Rectification and the End of Juliar

Jean Coutu Group (PJC) Inc. v. Canada (Attorney General), 2016 SCC 55 - https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/16281/index.do;

Canada (Attorney General) v. Fairmont Hotels Inc., 2016 SCC 56 - https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/16280/index.do

BC Trust v. Canada (Attorney General), 2017 BCSC 209 -https://www.canlii.org/en/bc/bcsc/doc/2017/2017bcsc209/2017bcsc209.pdf


© 41


Enforcing the Settlement of Tax Disputes

Granofsky v. The Queen, 2016 TCC 181 – http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/169519/1/document.do

Rosenberg v. Canada (National Revenue), 2016 FC 1376 - http://decisions.fca-caf.gc.ca/fc-cf/decisions/en/218355/1/document.do

Sifto Canada Corp. v. The Queen, 2017 TCC 37 - http://decision.tcc-cci.gc.ca/tcc-cci/decisions/en/228609/1/document.do


New Limits on the CRA’s Access to Working Papers During Audit

BP Canada Energy Co. v. Canada (National Revenue), 2017 FCA 61 - http://decisions.fca-caf.gc.ca/fca-caf/decisions/en/229222/1/document.do

tax in the current time zone - professional development · tax in the current time zone © 1...

Documents