Timothy Fitzsimmons

Timothy Fitzsimmons

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SCC Dismisses Appeal in Tax Advisor Penalty Case

The Supreme Court of Canada has dismissed the appeal of the taxpayer and determined that the tax advisor penalty in section 163.2 of the Income Tax Act is administrative in nature. The Court’s 4-3 decision in Guindon v. The...more

7/31/2015 - Appeals Income Tax Act Supreme Court of Canada

SCC to Decide Tax Advisor Penalty Case on July 31

What is the nature of the third-party penalty in section 163.2 of the Income Tax Act? That question will be answered by the Supreme Court of Canada when it decides the case of Guindon v. The Queen (Docket No. 35519) on Friday...more

7/29/2015 - Canadian Charter of Rights and Freedoms Criminal Penalties Income Tax Act Supreme Court of Canada Tax Court

Zhang: BC SC Refuses to Rectify Share Transfer

In Zhang v. Canada (A.G.) (2015 BSCS 1256), the British Columbia Supreme Court refused to grant rectification of a transaction in respect of which the taxpayers had no common intention to avoid capital gains tax on a share...more

7/28/2015 - British Columbia Supreme Court Capital Gains CRA Private Company Shares Rectification Tax Returns Transfers

Tax Court Continues “New Approach” to Cost Awards

The Tax Court’s approach to cost awards has evolved significantly in recent years. The Court’s interpretation and application of the factors under subsection 147(3) and the new settlement offer rules in subsections 147(3.1)...more

7/16/2015 - Appeals Canada Settlement Sun Life Assurance Company of Canada Tariffs Tax Court Tax Credits

New Judges Appointed to the Tax Court of Canada and the Federal Court of Appeal

The Honourable Peter MacKay, P.C., Q.C., M.P. for Central Nova, Minister of Justice and Attorney General of Canada, today announced the following appointment: The Honourable Guy R. Smith, a sole practitioner in Ottawa,...more

6/26/2015 - Canada Judicial Appointments Tax Court Taxation

Fairmont: OCA Dismisses Crown’s Appeal in Rectification Case

The Ontario Court of Appeal has dismissed the Crown’s appeal in Fairmont Hotels Inc. v. A.G. (Canada) (2015 ONCA 441). In Fairmont (2014 ONSC 7302), the taxpayer was successful on an application for rectification of...more

6/22/2015 - Canada Corporate Taxes Fairmont Hotels Ontario Rectification

Kruger: FX Derivatives Gains/Losses Taxed Only When Realized

In Kruger Incorporated v. The Queen (2015 TCC 119), the Tax Court held that the taxpayer could not value its foreign exchange options contracts on a mark-to-market basis, with the result that certain losses were not...more

6/10/2015 - Accounting Bonds Canada Corporate Taxes CRA Derivatives Exchange Rates Foreign Currency FX Swaps Market-to-Market Basis Securities Tax Court

Two New Judges Appointed to Tax Court of Canada

Two new judges have been appointed to the Tax Court of Canada. From the news release published by the Department of Justice: The Honourable Peter MacKay, P.C., Q.C., M.P. for Central Nova, Minister of Justice and Attorney...more

6/1/2015 - Canada Judicial Appointments Tax Court

Mac’s: Quebec CA Affirms Denial of Rectification

In Mac’s Convenience Stores Inc. v. Canada (2015 QCCA 837), the Quebec Court of Appeal affirmed a lower court decision (2012 QCCS 2745) denying rectification of corporate resolutions that had declared a dividend that...more

5/28/2015 - Appeals Canada Corporate Taxes CRA Dividends Rectification

Baytex: ABQB Grants Rectification

In Baytex Energy Ltd. et  al. v. The Queen (2015 ABQB 278), the Alberta Court of Queen’s Bench considered whether rectification and/or rescission were available to address mistakes that could result in the taxpayer being...more

5/26/2015 - CRA Energy Sector Income Tax Act Oil & Gas Rectification Royalties

Ironside: TCC Orders Hearing of Question on Rule 58 Motion

In Ironside v. The Queen (2015 TCC 116), the Tax Court allowed the Crown’s Rule 58 motion for a determination of a question of law before the hearing, namely whether the taxpayer was estopped from litigating an issue that had...more

5/21/2015 - Alberta Securities Commission Appeals Canada Estoppel Tax Court

Crowdfunding: Update From the CRA

In a short technical interpretation (CRA Document 2015-0579031I7 “Crowdfunding” (April 1, 2015)), the CRA has restated its views on the tax treatment of amounts raised via crowdfunding arrangements. The CRA stated that...more

5/4/2015 - Business Taxes Canada Canadian Revenue Agency Crowdfunding Income Taxes

FCA: TCC Erred in Awarding Costs on Basis of Pre-Appeal Conduct

The Tax Court has in recent years demonstrated a willingness to use cost awards to control the parties’ conduct. This includes awarding lump-sum amounts, which may depart markedly from the “tariff” amounts described in Tariff...more

4/24/2015 - Canada Litigation Fees & Costs Tax Court

Loss Determinations: No Time Like the Present

Under subsection 152(1.1) of the Income Tax Act, a taxpayer may apply for a determination of losses for a tax year. A taxpayer typically requests a loss determination after the CRA has issued a nil assessment. ...more

4/17/2015 - Canada Canadian Revenue Agency Income Tax Act Income Taxes

CRA Charities Directorate Publishes 2015 Program Update

The CRA Charities Directorate has published its 2015 Program Update. The CRA Charities Directorate has in recent years been actively updating and promoting the dissemination of its charity information, seeking the views of...more

4/15/2015 - Audits Canada Charitable Organizations Technology

CRA Appoints New Ombudsman

The CRA has appointed a new Taxpayers’ Ombudsman, the second since the position was created in 2008. From the CRA news release: April 10, 2015 – Ottawa – Canada Revenue Agency - The Honourable Kerry-Lynne...more

4/13/2015 - Administrative Appointments Canada Canadian Revenue Agency Ombudsman

Two New Judges Appointed to Tax Court of Canada

Two new judges have been appointed to the Tax Court of Canada. From the news release published by the Department of Justice: OTTAWA, February 6, 2015 – The Honourable Peter MacKay, P.C., Q.C., M.P. for Central...more

2/9/2015 - Canada Judicial Appointments Tax Court

McKesson: Taxpayer Files Supplementary Factum

As expected, the taxpayer has filed a Supplementary Memorandum of Fact and Law in its transfer pricing appeal in the Federal Court of Appeal. Earlier, the Federal Court of Appeal allowed the taxpayer’s motion to add a new...more

1/8/2015 - Canada McKesson Technologies Transfer Pricing

Lau: BC SC Corrects Articles of Incorporation After $17.3 Million Reassessment

Many tax rectification cases address situations in which certain transaction documents contain errors that do not accord with the parties’ intent to minimize or avoid taxes. However, there are several cases in which the...more

1/2/2015 - Articles of Incorporation Canada

Fairmont: Ont SCJ Unwinds Share Redemption and Substitutes Loan Arrangement

The common law doctrine of rectification operates to correct mistakes in transactions that produce (or may produce) unintended and adverse tax results. This was established in the landmark case of Juliar et. al. v A.G....more

12/31/2014 - Canada Fairmont Hotels Share Redemption

McKesson: FCA Allows Taxpayer’s Motion

The Federal Court of Appeal has allowed the taxpayer’s motion to amend its Notice of Appeal to add a new ground of appeal and to file a Supplementary Memorandum of Fact and Law. The Court of Appeal stated that the...more

12/22/2014 - Appeals Tax Appeals

Update: TCC and FCA Appointments

Tax Court of Canada - Associate Chief Justice Eugene Rossiter has been appointed as the next Chief Justice of the Tax Court of Canada. Justice Rossiter replaces current Chief Justice Gerald Rip, who has elected to...more

12/17/2014 - Canada Judges Political Appointments Tax Court

Legge: Improper Pleading Fatal to Crown’s Case

What must the Crown plead and how must she plead it? This question became an issue in the Tax Court’s recent decision in Legge v. The Queen (2014 TCC 360), in which the Tax Court allowed a taxpayer’s appeal due to the...more

12/10/2014 - Canada Pleading Standards Tax Appeals

Guindon: SCC Hears Arguments in Penalty Case

The Supreme Court of Canada heard oral arguments today in the case of Guindon v. The Queen (Docket No. 35519). At issue in the case is the nature of the third-party penalty in section 163.2 of the Income Tax Act....more

12/8/2014 - Canada Income Taxes Third-Party Liability

CRA Announces Collaboration with CPA Canada

As expected, the CRA has formally announced the details of its collaborative efforts with CPA Canada. The CRA recently spoke about this collaboration at the Toronto Centre CRA-Tax Professionals breakfast seminar....more

12/1/2014 - Accountants Canada CRA

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