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Author Archives: John Loukidelis
Learned Hand on Tax
The eminent jurist Learned Hand on the 1939 Internal Revenue Code: In my own case the words of such an act as the income tax, for example, merely dance before my eyes in a meaningless procession: cross-reference to cross-reference, exception … Continue reading
Posted in Miscellaneous
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Natural person ‘arguments’
Yet another ‘tax protester’ has been convicted of evasion in R v Porisky & Gould, 2012 BCSC 67. The judge described the natural person ‘argument’ as “a failed attempt at word magic [without] validity” and “legal numerology”. That’s exactly right.
Posted in Cases, Evasion
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Partnership information return
A posting to the LinkedIn group “CDN Tax Cases and Tax Commentary” a few days ago alerted me to a post on the CRA website, which post contained the following gem: In February 2012, the CRA issued a revised version … Continue reading
Posted in Partnerships
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Relief?
I always hesitate to take a client’s money for a relief or fairness application because the CRA is usually pretty unsympathetic and the courts not much more helpful. In two relatively recent cases, the courts found that the CRA decision-making … Continue reading
Posted in Cases, Individuals
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“Employee” loans
In Rémillard v R, 2011 TCC 327, the Court spent some time considering whether an employee is required to include an amount in income in respect of a loan advanced to him by his corporate employer if the loan is … Continue reading
Posted in Cases, Individuals
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Gambling again
Mr. Giuseppe Tarascio is not having much luck convincing the tax courts that his gambling losses should be deductible from his income for tax purposes. See Tarascio v R, 2012 FCA 30, aff’g a decision of Associate Chief Justice Rossiter … Continue reading
Posted in Cases
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Quotes
I’ve been quoted a couple of times recently in tax-related stories in The Lawyers Weekly, most recently in a story on Johnson v R, 2011 TCC 540, which I wrote about here.
Posted in Cases, Miscellaneous
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Freeze share values
Bryan Walters has drawn my attention to an interesting CRA technical interpretation (2011-0404641C6 or CCH Window ¶10,832) in which the CRA states that the provisions of a shareholder agreement might reduce the value of freeze shares that otherwise have the … Continue reading
Posted in Miscellaneous
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55(2)-land
I didn’t understand CRA technical interpretation 2011-0394191 at first, but I think I get it now.
Posted in Corporations
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Goodwill and estate planning
Mark Brohman at Durward Jones Barkwell was kind enough to send to me a reminder in the form of a technical interpretation of a very important fact about goodwill and estate planning.
Posted in Estates and Trusts, Individuals
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