SimpsonWigle Law LLP Tax News

The Federal Court of Appeal, in Lipson v. The Queen, 2007 FCA 113, has dismissed the taxpayer’s appeal. Lipson was a GAAR decision of Chief Justice Bowman of the Tax Court.

Dobbs: “If you’re the police, where are your badges?”

Gold Hat the Bandit: “Badges!? We ain’t got no badges. We don’t need no badges! I don’t have to show you any stinking badges!!”

—The Treasure of the Sierra Madre

That line might work for bandits, but CRA Special Investigations personnel must now carry badges to distinguish them from ordinary auditors.

We have received a few inquiries from interested parents and athletic organizations asking for information about the new children’s fitness tax credit. The CRA has published some useful information for parents and organizations on its website.

David Bazar was kind enough to point out that, in fact, the CRA has delayed the implementation of the administrative change noted in my last post. Please see the CRA notice here.

The Golden Horseshoe Tax Study Group met yesterday. Kathryn Smith pointed out to the group that the CRA has changed its administrative policy on the reporting required of a partnership. (more…)

Every now and then a taxpayer proposes to transfer an intangible “something” to a corporation for valuable consideration. The taxpayer, or his or her advisers, would do well to read Tri Pacific Gas Corporation v. Canada, 2007 FCA 38, before proceeding. (more…)

The CBC has a good quick summary of the federal budget.

The CRA’s latest press release on its service problems can be found here.

The CBC has the latest news on the CRA’s efile problems. The CRA has provided more detail in a “fact sheet“.

The CRA has suspended online service for individuals—including e-filing—until further notice, apparently “to safeguard existing systems and to maintain the integrity of CRA’s taxpayer information holdings”. The full news release is here.