What’s Your Tax Issue? 69 Problems

The Tax Issue: As we speak, I’m studying for my corporate tax midterm and my teacher has told me something that doesn’t make much sense. According to section 69, if a transaction with a non arms length person occurs at … Continue reading

What’s Your Tax Issue? Related Party Sale of Home

The Tax Issue: Hi David, My girlfriend (soon to be fiance) and I are seriously considering purchasing her parents home since they will be moving in six months time.  Her father has offered to sell the house to us at … Continue reading

Selling Low

I am often asked during the course of a year whether a taxpayer, for whatever reason, can make a sale of property at a price lower than fair market value, transfer an asset for no consideration, make a gift to … Continue reading

The End of the Tax Mulligan

What happens when a transaction is undertaken that is planned to be tax-free, but due to an unforeseen error in the execution of the plan, it is subsequently discovered that tax is payable? Until recently, if all else failed, one … Continue reading

CRA – The Anti-Santa

It’s Christmas time, and that’s got the CRA thinking about gifts – taxing them, that is. The recent case of Shaw v. R. is a cautionary tale for anyone who believes that a gift of cash is never taxable to … Continue reading