Tax Perspectives

Please note that these publications may not be up-to-date as taxation matters are subject to frequent changes.

PDF Format All Issues Spring 2006 Volume 6, Number 1 The information in Tax Perspectives is prepared for general interest only. Every effort has been made to ensure that the contents are accurate. However, professional advice should always be obtained before acting and TSG member firms cannot assume Introduction By Michael Cadesky, FCA, TEP Cadesky and Associates LLP (Toronto) In this edition of Tax Perspectives, we examine some fundamental developments in Canadian tax law. First – Election Politics and Tax. Many tax changes have been proposed. Some will become law, some will not. Change is in the wind. Next, we look at... Election Politics And Tax By Michael Cadesky, FCA, TEP Cadesky and Associates LLP (Toronto) What a difference an election makes. Tax changes which may normally take a generation or two to come about are packaged as candy and tossed out to an eager and receptive crowd of voters. They take all they can get. Why not? Here are some samples of the... Surprise Changes to Taxation Of Dividends The Federal Government's surprise announcement of November 23, 2005, lowering the personal tax rate on certain Canadian dividends will, if enacted, have far-reaching implications. The change will fundamentally alter many tax planning arrangements... The CRA Attacks Canadian Residents Leaving Canada By Arnold Sherman, CA, CTA, TEP, FCA (England and Wales) H. Arnold Sherman Professional Corporation (Calgary) In the last year or so, I have reviewed the judgements in ten appeals taken to the Tax Court by individuals who have left Canada. In each case, the CRA claimed that the person was still resident here for tax purposes. From my review of these cases, I... GAAR — The Beast Finally Tamed By Grace Chow, CA, TEP Cadesky and Associates LLP (Toronto) The General Anti-Avoidance Rule (GAAR), once a fearsome beast, has finally met its match. In two decisions of the Supreme Court rendered in 2005 (Canada Trustco Mortgage Co. v. Canada and Mathew v. Canada), the beast has finally been tamed. GAAR has... Tax Specialists In Demand By Michael Cadesky, FCA, TEP Cadesky and Associates LLP (Toronto) Fewer accountants entering the profession and increased complexity in tax laws have combined to create a shortage of tax professionals across Canada. The Big Four accounting firms now have an insatiable demand for experienced tax professionals, which has... In Brief By Howard L. Wasserman, CA, CFP, TEP Cadesky and Associates LLP (Toronto) SR&ED And Stock OptionsLast year, in a surprise decision, the Tax Court determined that a corporation could claim investment tax credits for SR&ED on certain stock option benefits realized by employees. When an employee exercises a stock...