Précis: For those who thought that the application of recission in tax matters was resolved by the Supreme Court of Canada in 2016 it’s time to think again. On March 25, 2021 the Supreme Court granted leave in another case where the British Columbia Court of Appeal ordered recission revoking dividends paid in 2008 and 2009 that became taxable as a result of a subsequent change in case law. We live in interesting times for tax planners.
Attorney General of Canada, et al. v. Collins Family Trust: Rectification in Tax Matters RevisitedREAD MORE »