Mind your business: Business Assets, Professional Corporations & Divorce

Business owners or the spouse of a business owner encounter unique considerations when facing a divorce. The Marital Property Act’s Treatment of Business Assets The New Brunswick Marital Property Act, RSNB 2012, c 107 [hereinafter the “Marital Property Act”] exempts business assets from division with a spouse upon the breakdown of a marriage. Business assets […]

Key Federal Tax Relief Initiatives for Canadian Individual and Corporate...

Summary of the key federal tax relief initiatives that are intended to provide some assistance to Canadian individual and corporate taxpayers, including certain administrative actions taken by the Canada Revenue Agency and the Tax Court of Canada.

Depressed Market Conditions Present Tax Planning Opportunities

With global economies significantly constrained and markets everywhere in turmoil, it may be prudent to consider whether tax planning is a way in which you can use depressed fair market values to your advantage.

Nova Scotia Aims to Supercharge Start-up Growth With Revised Equity...

In January 2019, Nova Scotia’s Finance and Treasury Board announced changes to the Province’s Equity Tax Credit program. Additional changes followed in the Nova Scotia 2019 Spring budget.

Structuring Your Fishing Business for Growth: Selecting the Optimal Business...

Have you received advice from an accountant or a lawyer on the best way to structure your fishing business? If so, did that advice take the most recent Income Tax Act amendments into consideration? Finding the structure that is optimal for your circumstances can make a world of difference to you and your family.

Nova Scotia Aims to Supercharge Start-up Growth With Revised Equity...

On January 17, 2019, Nova Scotia’s Finance and Treasury Board (“NSFTB”) announced changes to the Province’s Equity Tax Credit program, a popular tax credit program that has been in place since 1994 and utilized by many Nova Scotia companies and investors in a number of different industries. The Province’s stated goal for re-working the Equity […]

Why Multinationals and Their Advisors Should Consider Including Nova Scotia...

Nova Scotia can deliver significant benefits to multinational entities as a result of the province’s unique corporate law framework, multinational-friendly tax regime, abundance of government incentives and enticing geographic advantages.

November 24, 2017
Tax

CRA Decision Successfully Challenged in Pomeroy’s Masonry Limited v. A.G....

Under subsection 164(1) of the Income Tax Act, a corporation must file its tax return within three years of the end of the taxation year to be entitled to receive a tax refund, should one arise on assessment by the Canada Revenue Agency.

March 22, 2017
Tax

Supreme Court of Canada Confirms the Law on Rectification

The Supreme Court of Canada (“SCC”) confirmed the law on the equitable remedy of rectification in Canada (Attorney General) v. Fairmont Hotels Inc., 2016 SCC 56 (“Fairmont”).

August 9, 2012
Tax

The CRA’s Revised Fundraising Guidelines: Legislation Needed

In April 2012, the CRA released Guidance CG-013 (revising CPS-028, June 2009), setting out in detail its interpretation of the fundraising rules applicable to registered charities. However, these guidelines are not sufficiently backed by legislation to achieve their purpose. Click to read full article Published in the Canadian Tax Focus, Volume 2, Number 3, August […]