Alexander Marino recently appeared on the Global Investment Voice Podcast to discuss the benefits of renouncing US citizenship on March 14, 2024.
Alexander Marino guested on the Snowbirds US Expats Radio Podcast about the benefits of renouncing your US citizenship on January 17, 2024.
Kenneth Keung and Evan Crocker are quoted in Investment Executive article titled “CRAʼs 10% interest rate on overdue tax raises risks“, published on November 13, 2023.
Kenneth Keung quoted in Investment Executive article titled “Window closing on family business transfers using Bill C-208”, published on October 10, 2023.
Kim G C Moody is quoted in the Tax Notes article titled “Canada’s Supreme Court Upholds GAAR Application in Deans Knight”, May 30, 2023
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How will past farm losses be treated after the Craig decision?
In Canada v. Craig, 2012 SCC 43, the Supreme Court of Canada modified the combination test for determining whether the restricted farm loss rules in section 31 of the Income Tax Act (the “Act”) apply to farming losses. We discussed this case in our August 2, 2012 blog. This may have an impact on taxpayers whose farming losses, as a result of the Craig decision, are no longer considered to be restricted farming losses and how those losses were applied in the taxation year in which they were incurred.
Canadian government moves to implement long overdue technical tax amendments
On October 24, 2012, the Minister of Finance tabled a detailed Notice of Ways and Means Motion (“NWMM”) to implement technical tax amendments. Many of the amendments were proposed approximately 10 years ago. We have previously written on how the Government of Canada develops and implements tax legislation in our February 1, 2012 blog . As we noted in that blog, the fact that there has been proposed tax legislation in existence for such a long time has been challenging. The long outstanding proposed legislation appears to be close to being passed into law and is very welcome news.
Tax in Canada and the US: The differences that really matter
Many people assume that the US and Canadian tax systems for individuals are similar. Not true. There are some important differences. Accordingly, the purpose of this article is to point out some of these important differences that can cause problems for the uninformed. By no means is this article intended to be exhaustive… simply informative.
Hot times for summer tax action: The top five
Our firm’s tax groupies often ask us what is happening in the tax world. Given that we are in the heart of the summer, we thought it would be a good time to list the top five tax matters / issues that we are waiting for. Ok… ok… tax groupies might be a bit of a stretch, but we can only hope.
Important Supreme Court of Canada case on farming losses — Win, place or show me the money
On August 1, 2012 the Supreme Court of Canada released its decision in Canada v. Craig, 2012 SCC 43. The case involved the deductibility of farming losses incurred by a taxpayer.
Fair market value transfers of property to trusts – The Federal Court of Appeal decision of Sommerer
Canadian tax practitioners often recommend the use of inter vivos trusts in tax and estate planning for private clients. Trusts, if planned and executed correctly, offer confidentiality protection, probate avoidance, income / capital gains splitting and potential tax deferral. Trusts are not for everyone. They require careful execution and administration but in the right circumstances trusts can offer flexibility for the private client in planning their affairs.
Alexander Marino recently appeared on the Global Investment Voice Podcast to discuss the benefits of renouncing US citizenship on March 14, 2024.
Alexander Marino guested on the Snowbirds US Expats Radio Podcast about the benefits of renouncing your US citizenship on January 17, 2024.
Kenneth Keung and Evan Crocker are quoted in Investment Executive article titled “CRAʼs 10% interest rate on overdue tax raises risks“, published on November 13, 2023.
Kenneth Keung quoted in Investment Executive article titled “Window closing on family business transfers using Bill C-208”, published on October 10, 2023.
Kim G C Moody is quoted in the Tax Notes article titled “Canada’s Supreme Court Upholds GAAR Application in Deans Knight”, May 30, 2023
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