Subsection 237.4(3)
Administrative Policy
Income Tax Mandatory Disclosure Rules Consultation: Sample Notifiable Transactions (Finance Release Webpage), 4 February 2022
Draft s. 237.4 provides a requirement for taxpayers, advisors and others to report transactions to CRA that are designated by CRA pursuant to...
Articles
Joint Committee, "Reportable Transaction and Notifiable Transaction Proposals", 5 April 2022 Joint Committee Submission
CRA website notification is insufficient (pp. 14-15)
- The notification process should use multiple forms of publication including the CRA website,...
Subsection 237.4(4)
Articles
Joint Committee, "Reportable Transaction and Notifiable Transaction Proposals", 5 April 2022 Joint Committee Submission
Rules should be effective on royal assent (pp. 13-14)
- The rules should apply only to transactions undertaken after enactment, and transactions...
Paragraph 237.4(4)(c)
Articles
Federation of Law Societies of Canada, "Federation challenges Income Tax Act provisions", 12 September 2023 Press Release of the Federation
The Federation of Law Societies of Canada is challenging provisions of the Income Tax Act (the Act) [namely, ss. 237.3 and 273.4] that require...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 237.3 - Subsection 237.3(2) - Paragraph 237.2(3)(c) | Federation of Law Societies of Canada is seeking a declaration that ss. 237.3 and 237.4 do not apply to lawyers | 279 |
Subsection 237.4(5)
Articles
Joint Committee, "Reportable Transaction and Notifiable Transaction Proposals", 5 April 2022 Joint Committee Submission
Coordination with Quebec deadlines (p. 15)
- Under the Quebec rules, a newly designated transaction need only be reported after the later of 120...
Subsection 237.4(6)
Administrative Policy
Mandatory disclosure rules – Guidance, 6 September 2023 CRA Webpage
Notifiable Transactions
Due diligence - notifiable transactions – no reporting
- “A person who obtained the tax benefit would generally meet...
Subsection 237.4(7)
Administrative Policy
Mandatory disclosure rules – Guidance, 6 September 2023 CRA Webpage
Notifiable Transactions
Reasonable expectation to know – no reporting
- Only advisors who know or are reasonably expected to know of their...
Subsection 237.4(18)
Articles
Élisabeth Robichaud, Marie-Emmanuelle Vaillancourt, "An Avoidable Threat to the Protection of Solicitor-Client Privilege", Perspectives on Tax Law & Policy, Vol. 4, No. 3, September 2023, p. 11
- Chambre des notaires found that a limitation imposed on solicitor-client privilege (SCP) that was “not absolutely necessary to achieve the...
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - General Concepts - Solicitor-Client Privilege | 226 |