Tax
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July 16, 2024
Do you have a death folder?
When it comes to estate planning, choosing an executor is important. However, it’s not just about the person; it’s about ensuring they have the necessary tools to carry out your wishes. You need to identify the information, documents and contact names your executor will need to ensure the future of your estate and the interests of your beneficiaries are well taken care of. Creating a file folder, digital or otherwise, to hold the information you gather is a great place to start.
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July 15, 2024
Federal government begins consultations on tobacco, alcohol taxes for Indigenous governments
The federal Department of Finance has launched consultations on establishing an opt-in framework for Indigenous governments interested in imposing their own fuel, alcohol, cannabis, tobacco and vaping (FACT) value-added sales taxes, as outlined in the government's 2024 budget.
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July 10, 2024
Review launched into CRA’s ‘last minute’ change of 2023 bare trust filing requirements
The taxpayers’ ombudsperson, François Boileau, has launched a systemic examination into whether the Canada Revenue Agency (CRA) “respected taxpayers’ rights in its administration of bare trust filing requirements for the 2023 tax year.”
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July 09, 2024
Muslim charity’s Charter case against CRA stalls again in wake of Ontario Court of Appeal ruling
A lawsuit launched by the Muslim Association of Canada (MAC) against the Canada Revenue Agency (CRA) claiming that an extensive CRA audit violated the religious nonprofit’s Charter rights will remain on hold following a decision by the Ontario Court of Appeal.
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July 09, 2024
The problems of dying intestate with minor children
A person who dies “intestate” is one who dies without leaving a valid will. A valid will provides for who should administer the estate, who should benefit from the estate and the terms on which the beneficiaries inherit. If you die without a will in place, your estate will be governed by intestacy laws, which may not reflect your wishes.
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July 08, 2024
Manitoba regulator running mental wellness challenge for lawyers
The new president of Manitoba’s law society is hoping an ongoing “wellness challenge” for lawyers will put them on the path to minding their mental health while at work. The Law Society of Manitoba’s (LSM) Wellness Challenge 2024, the first of its kind by the regulator, is a voluntary project where participants engage in various wellness activities over an eight-week period. The activities, grouped into two-week slots, began June 17 and will run through to Aug. 9.
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July 05, 2024
SCC-bound case challenges refusal to publicly disclose court records revealing civil case delays
Does the principle of judicial independence enable judicial leaders to veto, in their absolute discretion, the public release of court records that reveal the extent of civil trial delays in the courts they administer? Absent transparency about courts’ operational performance, is the judicial branch of government sufficiently accountable to the public for its role in managing the courts?
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July 05, 2024
Canada’s Capital Gains Tax and the exodus to the U.S.
There may be a change coming to the way Canada taxes capital gains. While Prime Minister Justine Trudeau claims it will affect a minuscule percentage of Canadians, it has more than a minuscule percentage of Canadian taxpayers on edge. The new taxing regime is complex, with 56 pages of guidance. While some taxpayers are already subject to a capital gains tax inclusion rate (meaning the amount of capital gain that is currently included in computing a taxpayer’s income) of 50 per cent on their realized gains, the capital gains inclusion rate under the taxing regime will exceed 66 per cent on some assets in certain circumstances.
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July 03, 2024
New partner for Aird & Berlis
Aird & Berlis has announced that Pavle Levkovic has joined the firm as a partner and member of litigation and construction groups.
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July 03, 2024
New associate joins Torkin Manes
A recent news release from Torkin Manes LLP announced the addition of Joseph Eid as an associate in the firm’s tax and private client services groups.