From non-CCPC planning and price adjustment clauses to moving expenses decided with Google Maps, learn what the latest Canadian tax cases mean for your planning and disputes.
Every year brings new tax decisions that change how Canadian practitioners plan, file and defend their clients’ positions. In this fast-paced annual review, experienced tax advisors work through the most relevant recent cases from the Tax Court of Canada, the Federal Court and the Federal Court of Appeal, explaining what was decided, why it matters, and how to apply the lessons in practice.
The session opens with a case still in its early stages that could affect estate freezes across Canada: CRA’s position that “skinny” voting control shares held by a family trust carry significant value at the 21-year deemed disposition. It then covers the Federal Court of Appeal’s decision applying GAAR to non-CCPC planning, a technical trap that sank a similar plan, a favourable ruling on price adjustment clauses in an estate freeze, and the Federal Court of Appeal’s reversal of a section 160 assessment in a commercial property sale.
The panel then covers a wide range of everyday issues: deducting legal fees for someone else’s tax dispute, the evidence CRA can require for foreign tax credits, capital gain versus business income (including when a rental property converts to inventory), PUC averaging plans, TFSA over-contribution penalties and the limits of relief, and repeated failure to report penalties. Further cases cover moving expenses and the 40-kilometre test, T1135 penalties and voluntary disclosure, net worth audits, director liability after a corporation is revived, claiming expenses after receipts are lost, GST on a mixed-use building, the stock option deduction, employment expense claims, and a pending challenge to an unexpected CRA reassessment of a large corporation.
1 activity • 1 videos • duration: 2h
The CPA Small Practitioners’ Forum was created to offer an inviting, semi-causal, and easygoing professional development weekend that provides substantial professional development value to small practitioners. All profit earned by the CPA Small Practitioners’ Forum is donated to the Alberta CPA Education Foundation, so you are helping young people in Canada get scholarships for university. All these courses are reviewed by the delegates at the Forum in Banff annually so we have a great lineup that is adjusted every year to keep things relevant to small practitioners. If you work at a public accounting firm in Canada with employees of 1-50 people, you are our target demographic and you should find this course useful.
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Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
