Harvard Properties 2024 TCC 139 per Boyle TCJ General procedure Under appeal A-382-24; A-388-24 “Another Section 160 Tax Avoidance Scam: Harvard Properties” Brian Arnold report 296 Jan 14/25 * Facts The following is a paraphrase of the facts set out…
VD Info Circular Updated
I just updated my webpage article on voluntary disclosures, which addresses the CRA’s amended policy on VDs found in IC00-1R7 (Voluntary Disclosures Program).
Poker appeals dismissed
The taxpayers’ appeals in the poker winnings trilogy of cases have been dismissed: Fournier-Giguère v R, 2025 FCA 112. English translations of the Tax Court decisions are now available. See 2022 TCC 132 (Fournier‑Giguère Judgment), 2023 TCC 3 (D’Auteuil Judgment)…
Twenty years
Today is the 20th anniversary of this blog. I made my first post on it on August 22, 2005. I’m now working on post number 1,077.
Shares acquired by a trust are QSBCSs
On January 1, 2023, a newly-formed personal trust purchased shares of Opco from Dad, who owned them throughout the preceding two years. The trust sold the shares on June 30, 2023, to an unrelated person. The CRA found that the…
TOSI and a power of attorney
Son is the owner of 10 out of 100 issued Common Shares in the capital of Opco, which are the only issued shares of the corporation. Son grants a power of attorney to his father to exercise all rights to…
Vefghi appeal allowed
The Federal Court of Appeal has allowed the Crown’s appeal and dismissed the cross-appeal of one of the taxpayers in Vefghi Holding Corp. v R, 2023 TCC 135, which I discussed here. See R v Vefghi Holding Corporation, 2025 FCA…
De facto control and IGT rules
If Son’s Buyco issues a note to his parents for the purchase of all of the shares of Opco, would the parents have de facto control of Buyco and Opco because of the note? The CRA said they would, if…
Donation tax shelters
Cases relating to donation tax shelters continue to pop up from time to time, and the hapless taxpayers are not having much success. The more recent cases generally focus on whether the taxpayers should be entitled to a tax credit…
Mail room affidavits
In Zampieri v R, 2025 TCC 25—which is yet another limitation period case from Mr Justice Bocock—one issue was whether the CRA had sent notices of confirmation and reassessment on the dates printed on them. Mr Justice Bocock was not…