Wrapping up the odds and ends from the past week in Canadian accounting news

In Canada v. Preston, the Federal Court of Appeal sided with the Canada Revenue Agency and overturned the Tax Court's decision, over the issue of assumptions

David J Rotfleisch explores whether the Foix decision by the FCA radically undermines the tax benefits of a hybrid sale when selling a private business

Wrapping up the odds and ends from the past week in Canadian accounting news

With the economic substance wording in the general anti-avoidance rule, Finance Canada has given a present to the tax judiciary, says Raymond G. Adlington

Critics believe the rift represents a threat to a national unity in the Canadian accounting profession and the merger of three designations into the CPA brand

MaryAnne Loney of McLennan Ross LLP looks at three areas of tax planning related to private corporations that will change in 2024

Canadian tax accountant and lawyer David J. Rotfleisch discusses ITFs, including tax implications, issues and alternatives to these unregistered investment accounts

The lack of consultation with the wider membership on its split from CPA Canada has led to accusations that the dispute is a power grab by CPA Ontario

Relief requests beyond the statute of limitation may still be available, depending on the circumstances, explains tax accountant and lawyer David J Rotfleisch

Laurie Goldbach and Steve Suarez of BLG on disclosure of tax planning documents and the Tax Court's treatment of accountant-client privilege

Unlike the rest of Canada, the accounting profession in Quebec is not self-regulated, leading to legitimate issues between l'Ordre and CPA Canada

Chartered Professional Accountants of Canada rejects provincial claims of poor financial transparency and says it is open to doing more

A case before the BC Supreme Court included violations of the Income Tax Act and Excise Tax Act explains Canadian accountant and lawyer David J Rotfleisch

The courts will increasingly gravitate toward the minority approach in the Deans Knight decision, assert the tax lawyers of Counter Tax Litigators

Developing new recipes qualifies for Scientific Research and Experimental Development credits, explains David J Rotfleisch, when you make frozen pies

In the dispute between provincial and national accounting bodies, politicians say CPA Ontario's regulatory legislation is unaffected by key disagreements in the rift

It is not the Tax Court's job to provide equitable relief, David Rotflesich explains, as the Income Tax Act provides a bright-line test for medical expense tax credits

Canadian tax lawyer and accountant David J Rotfleisch explains why taxpayers should not necessarily trust CRA publications such as folios, bulletins and circulars

Founders of the Profession category includes critic of international financial reporting standards, cannabis company accounting, audit scandals and more

The tax team at Davies Ward Phillips & Vineberg LLP review August's draft tax legislation released by the Department of Finance for public consultation

Martha Macdonald, Gwen Watson and Michael Steele of Torys LLP in Toronto parse the government's August proposals to amend Canada's GAAR legislation

The Hillcore Financial decision by the Tax Court Of Canada shows the importance of crafting tax pleadings that follow the rules says David J Rotfleisch

Supreme Court's majority decision will add sustenance to the criticism that GAAR creates uncertainty for taxpayers, explains Lorne Saltman of Gardiner Roberts LLP

Wrapping up the odds and ends from the past week in Canadian accounting news