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Trusts Canada Income Taxes

Bennett Jones LLP

Bennett Jones Leading the Way in Employee Ownership Trusts

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Effective January 1, 2024, Canada introduced detailed rules into the Income Tax Act (Canada) to facilitate and encourage employee ownership of small and medium sized Canadian businesses through the creation of employee...more

Davies Ward Phillips & Vineberg LLP

Canada Confirms Intention to Institute New Interest and Deductibility Rules

The Department of Finance (Canada) (Finance) released draft legislation on February 4, 2022 that would limit the deduction of “interest and financing expenses” to a fixed percentage of earnings before interest, taxes,...more

Bennett Jones LLP

Canada Proposes New Tax Reporting Requirements for Bare Trusts

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Bare trusts across Canada could soon be required to file annual returns with the Canada Revenue Agency, or face large penalties for failing to report....more

Blake, Cassels & Graydon LLP

Rectification in a Tax Context: The Intention Standard Prevails

A drafting mistake in an agreement can result in significant and unintended tax consequences. In the recent case of Baytex Energy Ltd. v. Canada (Attorney General) (Baytex), the Court of Queen’s Bench of Alberta (Court)...more

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