The Tax Court of Canada (Descarries Et Al. v. The Queen (2014) TCC 75) recently had occasion to consider an interesting tax planning scheme that ultimately fell foul of the General Anti-Avoidance Rule (GAAR).
There are three certainties in life: death, taxes and change. That’s why taxpayers and their advisors must take note when provinces like Alberta raise their taxes for the first time since 1987.