In Gaumond v. The Queen, 2014 TCC 339, a shareholder forgave his loan to a company as part of the company’s proposal in bankruptcy, which proposal allowed the company to emerge from bankruptcy and continue its R&D activities. The shareholder claimed a business investment loss (BIL) on the forgiven loan under s.
The Tax Court of Canada recently confirmed in International Hi-Tech Industries Inc v The Queen, 2014 TCC 198, that in certain circumstances a secured creditor can commence or continue a tax appeal on behalf of a bankrupt estate.
36114 Miazga v. The Queen (Criminal law – Manslaughter)
On October 21, 2014, the Court of Appeal of Quebec rendered an important judgment in the matter of the bankruptcy of Sylvain Girard (500-09-024077-133), which will have a decisive impact in the handling of bankruptcy cases involving the tax authorities, namely the Agence du revenu du Québec (“ARQ”) and the Canada Revenue Agency (“CRA”).
doing business in Canada 2 | doing business in Canada Canada is one of the world’s premier locations for business investment. Boasting an exceptional wealth of natural resources, a sound financial system and world-class infrastructure, Canada is known for innovation in a wide range of sectors. And with generous research and development incentives, low corporate tax rates, and easy access to major U.S. markets, Canada is a top destination for foreign companies seeking a foothold in North America.
A recent decision of the Tax Court of Canada highlights the benefits of a broadly drafted general security agreement (GSA) in relation to a secured creditor’s realization on a bankrupt borrower’s intangible assets in the form of GST input tax credits (ITCs).
On September 4, 2014, the Supreme Court of Canada dismissed a taxpayer's application for leave to appeal in the matter of Rita Congiu et autre c. Agence du revenu du Québec et autre(35830/35833).
DOING BUSINESS IN ALBERTA
November 2013
© Davis LLP 2013 i
TABLE OF CONTENTS
A. INTRODUCTION .............................................................................................................................. 1
B. GOVERNMENT AND LEGAL SYSTEM ......................................................................................... 1
C. TYPES OF BUSINESS ORGANIZATION ....................................................................................... 2
- Historical Background
Unlike the United States, Canada was not created by a unilateral declaration of independence from the colonial occupation of England.
Except where otherwise noted, this paper is current as of September, 2011 and provides preliminary information on Canadian and British Columbia legal matters to assist you in establishing a business in British Columbia and provides general guidance only.