Search - 江苏苏美达轻纺国际贸易有限公司 关税政策 最新动态

28 August 2019- 12:28am Frank A Smart & Son Ltd – UK Supreme Court indicates that input credits were available for fund raising costs of a taxable business Email this Content CRA may take the view that GST/HST costs incurred in raising funds, e.g., through issuing shares or debt, will not give rise to input tax credits in the absence of relief under ETA s. 185(1), because the first order supply being made is an exempt financial service. ... Summary of Revenue and Customs v Frank A Smart & Son Ltd (Scotland) [2019] UKSC 39 under ETA s. 141.01(2). ...

25 January 2021- 11:10pm Stonehouse Group – Ontario Court of Appeal considers “the principle that governments have the right to legislate illogically” to be “not … persuasive” Email this Content As a result of being reassessed to deny the carryback of a loss, the taxpayer was required to pay the reassessed taxes – but, following success in its objection, later was refunded the tax. ... It is also not a principle of statutory interpretation to be readily invoked. … The language in s. 79(7) is not unambiguous when read in its entire context. While it is not necessary to resort to it in this case … there remains “a residual presumption in favour of the taxpayer” …. ...

8 August 2021- 10:57pm Gélinas – Court of Quebec finds that a Montreal site qualified as a special work site for a 3 ½ year project Email this Content The taxpayer, who had purchased a house in Richmond, Quebec in 1999 to reside there with his family, worked for his employer (“GPH”) as a project engineer regarding the construction or expansion of factories. Although normally, on such projects, the client of GPH would pay the accommodation costs of the GPH employees who worked on the project, that was not the case for a project for one of the clients in the Montreal area (about 90 minutes from Richmond), which started in 2014 and lasted for 3 ½ years. ... In finding that these amounts were not includible in the taxpayer’s income pursuant to the Quebec equivalents of ITA ss. 6(6)(a)(i) and (b)(i), Lapierre JCQ stated: [T]he fact that the wife and one of the children of the couple also lived in the Longueuil apartment is not very important …. … Mr. ...

18 October 2017- 1:13am Plains Midstream – Tax Court of Canada finds that s. 16(1) operates symmetrically (no creditor interest – no debtor interest deduction) Email this Content To over-simplify somewhat, Amoco agreed to assume a $225M loan that was due in perhaps 43-years’ time and that was effectively non-interest-bearing (or more precisely, only bore interest to the extent of oil production from the Beaufort Sea) in consideration inter alia for the payment to it of $17.5 million by the debtor. ... In denying any interest deduction, he stated: The language used in subsection 16(1) of the ITA stating that the payment is “deemed to be interest on a debt obligation held by the person to whom the amount is paid or payable” reflects Parliament’s intention that both parties receive symmetrical treatment. … [N]o part of the amount that is due by the Appellant can reasonably be regarded as interest that is payable to APCJ under the terms and conditions of the … loan. … [I]t is unthinkable that Parliament would have intended the asymmetrical treatment proposed by the Appellant as this would open the door to transactions in which one party receives a tax benefit and the other party receives a non-taxable payment, resulting in a one-sided tax expenditure. ... The Queen, 2017 TCC 207 under s. 16(1) and s. 54 – adjusted cost base. ...

23 July 2018- 11:40pm Quinco Financial – Federal Court of Appeal confirms that interest is added as usual to a GAAR assessment – and that taxpayers do not “apply” GAAR Email this Content Webb JA rejected a submission that no interest accrued by virtue of a GAAR reassessment between the balance-due date of a taxation year for which a large capital-loss claim was denied, and the date of the reassessment almost four years later, stating: [T]he requirement that the Minister in GAAR cases must establish that a tax benefit is not consistent with the object, spirit or purpose of the provisions relied upon by the taxpayer cannot justify a finding that any liability for any increased taxes would only arise once that reassessment is issued. However, he also intimated that the Tax Court had gone overboard (in arriving at the same result) by stating “all taxpayers, who are directly subject to GAAR assessments, … are required to consider and apply GAAR” – which seemed to imply that the taxpayer rather than CRA is responsible under s. 245(2) for determining how the transactions’ tax consequences should be rejiggered to produce a reasonable result. ...

22 December 2020- 10:55pm Deyab – Federal Court of Appeal confirms neglect (and, thus, no statute-barring) for failing to document corporate withdrawals – but not gross negligence Email this Content The taxpayer was assessed for approximately $2.4 million in shareholder benefits respecting amounts received by him over five years from his small engineering-consulting company (“M.D. ... In affirming the Tax Court’s finding that CRA could reassess those years beyond the normal reassessment period, Webb JA first found that the Crown had made out a prima facie case that the withdrawals were income to the taxpayer, and that this then permitted “the drawing of an adverse inference against [the taxpayer] for failing to call his accountant or bookkeeper, or presenting a properly completed shareholders’ loan account reconciliation” – hence, there had been a misrepresentation. ... Canada, 2020 FCA 222 under s. 152(4)(a)(i), s. 163(2) and General Concepts – Evidence. ...

7 October 2024- 12:11am RBC – Tax Court of Canada finds that foreign interchange fees earned by RBC were zero-rated – entitling it to ITCs on a portion of its interchange expenses, but not on loyalty point costs Email this Content When cardholders of RBC credit cards used their cards for purchases from a foreign merchant, RBC would earn an “interchange fee” from the foreign bank of the foreign merchant for accepting the charge. ... IX, s. 1 by virtue of the exclusion in para. 1(a) thereof for a “service [that] relates to (a) a debt that arises from … (ii) the lending of money that is primarily for use in Canada”. ... The King, 2024 TCC 125 under ETA s. 301(1.2)(a), s. 141.02(21), s. 141.02(31)(f), s. 141.02(1) – direct input, s. 123(1) – recipient, Sched. ...

3 March 2022- 11:53pm Yao – Tax Court of Canada excludes an “expert report” of an immigration lawyer – but admits reports of sociology and psychology professors Email this Content In the context of a challenge under s. 15 of the Charter to the denial of child tax benefits to refugee claimants, Bocock J admitted, as expert reports, two reports of a sociology and psychology professor; on the basis that they could be helpful to the Court in determining whether the refugees were a relevantly disadvantaged group. ... The Queen, 2022 TCC 23 under General Concepts – Evidence. ...

12 December 2016- 11:39pm Loupy’s – Tax Court of Canada confirms that a backdated GST registration has retroactive effect – and that winding-down operations qualified a de-registrant as a “registrant” Email this Content When the operator of a restaurant ceased operations due to a termination of its lease, it applied for and was granted a revocation of its GST and QST registrations. ... Favreau J found that, notwithstanding the revocation of its revocation, the taxpayer was still a “registrant” – whose definition includes a “person who is required to be registered”- given that it still held equipment which it was seeking to sell (some of which it sold eight months’ later). ...

19 July 2017- 11:01pm Montminy – Federal Court of Appeal finds that employees enjoyed the ½ deduction on exercising their stock options notwithstanding an immediate sale of the acquired shares to the controlling shareholder Email this Content When a third-party purchaser agreed to acquire all the assets of Opco, the management employees agreed with the 100% shareholder of Opco (“Holdco”) that on the asset sale closing date, they would exercise their options to acquire common shares of Opco and immediately sell their newly-acquired shares to Holdco for an agreed cash sale price. ... He also found that providing the ½ deduction under s. 110(1)(d) to the taxpayers accorded with the broader context of the stock option rules. ...