Recent Posts

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  Kau v. R. – TCC: Failure to withhold 25% on purchase of real estate from a non-resident – taxpayer’s lawyer failed to make adequate inquiries – appeal dismissed

  Sep 04, 2018 By Bill Innes

  Categories:

  • Bill Innes on Current Tax Cases
  • Federal Income Tax
  • Personal Tax, Estate & Wealth Planning

  Précis: The taxpayer purchased a condominium in June 2011 from a vendor who turned out to be a non-resident of Canada. There was no withholding pursuant to section 116 of the Act on the purchase and CRA assessed the purchaser 25% of the sale price.
  Kau v. R. – TCC: Failure to withhold 25% on purchase of real estate from a non-resident – taxpayer’s lawyer failed to make adequate inquiries – appeal dismissedREAD MORE »
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  Olympia Trust v. R. - FCA: RRSP Trustee “purchaser” for 116(5) withholding on share purchases

  Dec 10, 2015 By Bill Innes

  Categories:

  • Bill Innes on Current Tax Cases
  • Corporate Tax
  • Federal Income Tax

  Précis: This was an appeal from a decision of the Tax Court blogged earlier on this sight. The Tax Court decision was on an interlocutory motion pursuant to Rule 58 of the Tax Court of Canada Rules (General Procedure). The issue was whether the trustee of several self-administered RRSPs was the “purchaser” (for the purposes of subsection 116(5) of the Income Tax Act (the “ITA”)) of certain private company shares acquired by the RRSPs from non-residents. As “purchaser” the trustee would be potentially liable for any unremitted withholding taxes (none had been remitted in respect of the transactions).
  Olympia Trust v. R. - FCA: RRSP Trustee “purchaser” for 116(5) withholding on share purchasesREAD MORE »
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  Olympia Trust Company v. R. – TCC: Trustee of RRSP liable for tax under subsection 116(5) when purchasing shares from non-resident

  Dec 31, 2014 By Bill Innes

  Categories:

  • Bill Innes on Current Tax Cases
  • Corporate Tax
  • Federal Income Tax

  
  Olympia Trust Company v. R. – TCC: Trustee of RRSP liable for tax under subsection 116(5) when purchasing shares from non-residentREAD MORE »