Le 16 avril 2024 (le « jour du Budget »), le gouvernement du Canada a présenté son budget fédéral de 2024 (le « Budget 2024 »). Bien que le principal élément du Budget 2024 soit une proposition visant à faire passer le taux...more
On April 16, 2024 (Budget Day), the Government of Canada released its 2024 federal budget (Budget 2024). While the biggest headline item in Budget 2024 is a proposal to increase the capital gains inclusion rate from one-half...more
As we enter 2024 the myriad of regulatory changes can appear overwhelming. We are here to help and have set out below some key changes and issues that can impact Bermuda entities. Bermuda has introduced a corporate income tax...more
Points saillants - Le 28 novembre 2023, le ministère des Finances (le « ministère ») a déposé un avis de motion de voies et moyens visant à mettre en œuvre la Loi d’exécution de l’énoncé économique de l’automne 2023, qui a...more
Highlights - On November 28, 2023, the Department of Finance (Finance) tabled a Notice of Ways and Means Motion to implement the Fall Economic Statement Implementation Act, 2023, which subsequently received first reading...more
Le 21 novembre 2023, la ministre fédérale des Finances (la « ministre ») a publié l’Énoncé économique de l’automne de 2023 (l’« ÉÉA ») du Canada. L’ÉÉA porte principalement sur diverses mesures d’abordabilité à l’intention...more
On November 21, 2023, the Minister of Finance (Minister) released Canada’s 2023 Fall Economic Statement (FES). The primary focus of the FES is on affordability measures for Canadians and increasing Canada’s housing stock,...more
Introduction - Le 1er novembre 2023, l’Agence du revenu du Canada (l’« ARC ») a publié une liste d’opérations qui ont été désignées comme les premières « opérations à signaler » en vertu des nouvelles règles de divulgation...more
Introduction - On November 1, 2023, the Canada Revenue Agency (CRA) released a list of transactions that have been designated as the first “notifiable transactions” under the new mandatory disclosure rules (MD Rules) in...more
On August 4, 2023, the Department of Finance released an updated version of the draft legislation that will incorporate the excessive interest and financing expense limitation rules (“EIFEL Rules”) into the Income Tax...more
The Canada Revenue Agency (CRA) can now require taxpayers or any other person to answer “all proper questions” and provide all reasonable assistance for any purpose relating to the administration or enforcement of the Income...more
On February 4, 2022, the Department of Finance (Finance) released draft legislation to amend the Income Tax Act (ITA) and the Excise Tax Act (ETA). Much of the draft legislation implements some of the significant business tax...more
In The Bank of Nova Scotia v The Queen, the Tax Court of Canada (TCC) considered how to calculate arrears interest on an audit adjustment that is offset by a loss carryback. ...more
Quick Summary. In 1867, the United Kingdom passed a Parliamentary act establishing what is now known as Canada. Today, Canada, the largest country in the Western Hemisphere, is a federation of ten provinces and three...more
Le 17 juillet 2020, le gouvernement du Canada a publié un projet de propositions législatives qui modifieraient considérablement la Subvention salariale d’urgence du Canada (la « SSUC »), notamment en prolongeant la durée de...more
Le 17 juillet 2020, le gouvernement du Canada (le « gouvernement ») a publié un projet de propositions législatives (les « propositions ») qui prolongeraient la durée de la Subvention salariale d’urgence du Canada (la...more
On July 17, 2020, the Government of Canada (Government) released draft legislative proposals (Proposals) that would extend the Canada Emergency Wage Subsidy (CEWS) until at least November 21, 2020, and make the CEWS available...more
In most restructuring proceedings, money is needed to fund the professionals and the management team retained to preserve value in the insolvent company. This money must often be borrowed, and is typically secured by...more
The South African Revenue Service has issued a revised interpretation note relating to "connected persons" for comment by 31 March 2017....more
A drafting mistake in an agreement can result in significant and unintended tax consequences. In the recent case of Baytex Energy Ltd. v. Canada (Attorney General) (Baytex), the Court of Queen’s Bench of Alberta (Court)...more