Federal Government Reports $343 Billion Budget Deficit - Biggest Since Second World War: Minister of Finance Bill Morneau revealed on Wednesday that the federal budget is expected to post a deficit of $343 billion - an unprecedented budgetary shortfall, attributed mostly to the government's response measures to the COVID-19 pandemic. Similar levels of spending […]
Canadian News
CBS Canada Holdings Co v Canada: Hearsay Analysis at the Tax Court of Canada and Federal Court of Appeal
The views expressed in this publication are from a personal perspective, and do not represent the views or the positions of the Department of Justice or those of the Government of Canada. This article originally appeared on Taxnet Pro TaxNews Tax Disputes & Resolution Centre. The Tax Court of Canada found that CBS’ […]
OECD Releases New Corporate Tax Statistics - Including Data on Nearly 4000 MNE's
The Organisation for Economic Co-operation and Development (OECD) released their annual Corporate Tax Statistics publication yesterday (July 8), which includes aggregated information on the global tax and economic activities of nearly 4,000 multinational enterprise (MNE) groups headquartered in 26 jurisdictions and operating across more than 100 jurisdictions worldwide. This data released on MNE's by […]
Canada Emergency Response Benefit: Retooling Toward Recovery
Demoralized and defanged at the outset of the COVID-19 pandemic, the Employment Insurance (EI) system gave way to a new campaign for supporting Canadians in their time of need. The Canada Emergency Response Benefit (CERB) was designed to serve as a buffer against economic misfortune that would eventually expire. However, with the recent extension of […]
“Think About the Why of Spending Before the How of Paying” and Remember, “Luck Has a Lot to Do With It” – Ed Kleinbard’s Legacy
This is not an obituary, at least it is not meant to be. However, I suppose it could be. Ed Kleinbard is one of the most profound, straightforward and intellectually honest “thinkers” in taxation of his and our time – and I would say, given his experience with advising on, crafting and commenting on […]
Week in Review - July 3, 2020
OECD Publishes Reporting Framework for the Gig and Sharing Economy: Today (Friday, July 3rd), the OECD published model rules that governments may adopt which requires platform operators such as Uber and AirBnB to collect data on their sellers and report that information to tax administrations for compliance purposes. The rules are intended to provide a […]
Cameco: The Taxpayer Prevails in the Federal Court of Appeal and the Tax Court’s Decision is Sustained – But Conceivably Much More Than That
Very shortly ago, the Federal Court of Appeal’s decision in The Queen v. Cameco Corporation (2020 FCA 112, delivered on June 26, 2020) was made public. By any measure in contemporary taxation (in Canada certainly, but for the transfer pricing world globally) the decisions of both the Tax Court of Canada and the Federal […]
When Free Stuff isn’t Actually Free — The Taxability of Free Products Provided to Social Media Influencers and Bloggers
When we think of influencers or bloggers and the law, the first topic that comes to mind is often the industry’s clash with Competition Bureau Canada, or it’s American equivalent — the Federal Trade Commission. Late last year, Competition Bureau Canada released its new guidance on how influencers must display whether a business sponsored […]
What is the Worth of Your Disability to Canada in Light of COVID-19?
$600. No, the emergency disability benefit proposed in early June is not a monthly payment. Not even an annual one. The yet-to-be-approved program offers a one-time, tax-free payment of up to $600 per qualified applicant. It is expected to cost $595 million. In total, 1.33 million people can receive the benefit. If the program […]
Week in Review - June 26, 2020
European Bloc Suggests Phased Approach to Global "Digital Tax" Negotiations: Following reports last week that the United States was withdrawing from international discussions regarding a potential "digital tax" deal, European powers including the United Kingdom, France, Spain, and Italy have suggested a slower, "phased" approach to negotiations in a letter sent to US Secretary […]