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Tax Disputes & Litigation
Cameco Awarded More than $10 Million in Legal Fees After Decade Long Dispute with the CRA
Canadian resource company Cameco, one of the world’s largest producers of uranium fuel, recently announced that it would be receiving $10.25 million in costs after a protracted battle with the Canada Revenue Agency (CRA) over alleged tax evasion. Some Background The dispute began when the CRA questioned Cameco’s corporate structure following the company’s reorganization in the late 1990’s. At issue was whether Cameco used a Swiss subsidiary, Cameco Europe Ltd. (CEL) as a means of… Read More
Personal Tax Planning
Frequently Asked Questions About Your Cottage and Taxes
As we head into May, we also head into the beginning of cottage season- a favorite time for Canadians. While many of us are starting to think about heading up north in the coming weeks to kick off a summer of boating, barbecues and other summer time fun, it may also be a good time to think about the various financial and legal implications of owning a vacation home. Below we address some… Read More
Corporate Tax Planning
CRA Successful in Appeal of $1.7 Million Malicious Prosecution Case
We’ve previously blogged about a ground-breaking decision in which the B.C Supreme Court ordered the Canada Revenue Agency (CRA) to pay more than $1 million in damages for the malicious prosecution of two British Columbia business owners who the agency had claimed had engaged in tax evasion. Since then, the CRA appealed that decision, and the B.C. Court of Appeal recently overturned it. Now, after more than a decade-long battle with… Read More
Personal Tax Planning
Parents Involved in Recent College Admissions Bribery Scandal May be Facing Tax Fraud Charges
According to Bloomberg News, parents embroiled in the recent “Varsity Blues” college admissions scandal may now be facing serious tax consequences in addition to criminal charges and potential prison time. The Varsity Blues Scandal- Some Background In a federal indictment spanning multiple jurisdictions, approximately 50 individuals, mostly wealthy parents, were recently charged with conspiracy to commit mail fraud and honest services mail fraud, after it was discovered that they had bribed multiple universities to admit… Read More
Bitcoin
Canada Revenue Agency Auditing Cryptocurrency Investors
Last year, we wrote about how Bitcoin and other cryptocurrency is treated by the Canada Revenue Agency (CRA) for tax purposes and what impact an investment in crypto might have on a Canadian taxpayer’s taxes. Now, crypto and the CRA are back in the news as the agency continues to finesse its approach to digital currency and adapt to rapidly changing realities. According to a cryptocurrency journalist writing for Forbes magazine,… Read More