The CRA has taken to posting answers to frequently-asked questions about government goodies (aka Easter eggs hidden in the Income Tax Act). It has posted a useful guide to the new tax-free savings account proposed in the last budget.
RCI Environnement Inc.(Centres de Transbordement et de Valorisation Nord-Sud Inc.) c. La Reine, 2007 CCI 647, is an interesting case on non-competes. CCH has translated the decision into English.
From a Finance press release issued today:
The Honourable Jim Flaherty, Minister of Finance, today introduced legislation in the House of Commons to implement key measures from Budget 2008. The bill also includes language to protect the Government’s fiscal plan from the effects of Bill C-253.
The release makes C-253 sound like a pack of marauding wolves.
I will post a link to the budget bill when it becomes available online.
The following was just posted to the Finance website: Federal Government Moves to Strengthen Canada’s Tax Advantage and Protect the Fiscal Framework.
The following is an extract from a press release posted on the CRA’s website today:
The Canada Revenue Agency (CRA) has revoked the registered charity status of the Francis Jude Wilson Foundation, a Montreal-area charity. This revocation was effective February 23, 2008, and follows a letter dated August 27, 2007, that was sent to the Foundation.
The following article will appear in the next edition of the HLA Journal.
Almost every tax-driven reorganization requires the lawyer implementing it to draft a price adjustment clause (a “PAC”). Most lawyers will have their favourite precedent for such a clause, but a lawyer needs to understand the nature and purpose of PACs—and how the CRA interprets them—so that he or she can use them appropriately in the context of any given set of transactions. This article does not purport to be a complete review of the theory and practice of PACs; it is more like a collection of notes on some of the more important features of a PAC precedent. (more…)
