All items tagged with: tax court

$110 Million Owing on TFSA Audits

Posted: August 21, 2018 By : Knowledge Bureau Staff Writers
Posted in: Strategic Thinking , Financial Literacy, CRA, tax court, trading, investment, stocks, knowledge bureau, TFSA, Evelyn Jacks, securities, tax education, financial education, Walter Harder, investors, tax audits, TFSA audits, uncollected tax debt, tax appeals, Tax Free Savings Account

Over the past year, the Canada Revenue Agency has made it a priority to collect on what they’ve deemed to be over $100 Million in unpaid taxes on TFSA investments. But can investors fight back?

Canada “Celebrates” 100 Years of Income Tax

Posted: September 19, 2017
Posted in: Strategic Thinking , CRA, tax court, knowledge bureau, Canada Revenue Agency, income tax act, Evelyn Jacks, income tax, tax courses, tax preparer, Canadian income tax, history of income tax, tax history, Income War Tax Act, income tax appellant process, notice of assessment, Tax Review Board, Superior Court of Record, Income Tax Appeal Board, Canada celebrations, important dates in Canada, Canadian history

National income tax is such a given in western economies that we lump it in with death as being unavoidable and portray the “Taxman” as some kind of grim reaper. But, in reality, federal income tax is a fairly recent invention — in Canada, we’ve just now reached the 100-year anniversary of the practice.

Tax Court Criticizes CRA Forms in Recent Decision

Posted: October 23, 2014
Posted in: Breaking News, CRA News, Tax Planning , tax court

In Gibson v. The Queen 2014 TCC 236, appellant Joan Gibson was forced to go through lengthy litigation, despite her severe fatigue syndrome to fight the tax man, but she prevailed.

Directors Escape Personal Liabilities

Posted: September 10, 2014
Posted in: Breaking News, News from the Bench , tax court

Subsection 227.1 of the Income Tax Act and subsection 323 of the Excise Tax Act provide that the directors of a corporation will be personally liable for their corporation’s failure to remit employee withholdings and GST.

Onus of Proof on CRA

Posted: August 20, 2014
Posted in: Breaking News, Tax Planning , tax court

The Tax Court of Canada recently allowed an application for an extension to serve a notice of objection to an assessment. Perhaps the most interesting aspect of the case was the dismal performance of the Canada Revenue Agency (CRA).

RRSP Funds Payable to a Named Beneficiary Not Part of the Estate in Saskatchewan

Posted: August 07, 2014
Posted in: Breaking News, Tax Planning , tax court, estate property

A recent decision from the Saskatchewan Court of Queen’s Bench held that RRSP funds payable to a named beneficiary do not form part of the testator’s (deceased will maker’s) estate.