Articles & Resources
Tax Litigation 101: Collections
Canada Revenue Agency (“CRA”) has broad powers of collection. CRA can collect amounts owing from a taxpayer including, income tax, payroll deductions, GST/HST remittances, customs, excise and other levies, and benefit overpayments (including Canada child benefit and GST/HST credit). CRA also has the right to collect amounts owed for other government programs, such as defaulted […]
Tax Litigation 101: Objections and Appeals
When a taxpayer files a tax return with Canada Revenue Agency (“CRA”), CRA will review the return and issue a “Notice of Assessment”. This document will identify what (if any) taxes are owing in the year, as well as any applicable penalties and interest. Typically, the content of the Notice of Assessment mirrors the content […]
Joint Ventures: A Unique and Flexible Structure for Farms to Consider
A farm’s overall success in the short and long term has a number of factors, chief amongst them being the blood, sweat, and tears of the men and woman who operate them. Many farms are in the middle of or preparing for a transition to the next generation. The legal structure of the farm (e.g. […]
New Rules for Corporations in Saskatchewan
The Business Corporations Amendment Act, 2020 (Saskatchewan), which amends The Business Corporations Act (Saskatchewan), creates additional requirements for corporations to track and maintain certain information about “individuals with significant control”.
Farm Succession Planning with Unanimous Shareholders’ Agreements
An often-overlooked component of a business owner’s estate plan is a Unanimous Shareholders’ Agreement (“USA”). A USA can be an extremely useful tool for estate planning purposes, especially in the context of the succession of a family farming corporation.
Transferring Farm Land to Joint Names with a Child – Is it worth it?
When planning for the future, it is common for families to receive well-intentioned advice that parents should transfer their farm land into joint names with their children before they die so that their estates can avoid probate fees.