Family wealth and business planning often gives rise to structures that come with burdensome reporting obligations for minority US shareholders. In this Canadian Tax Journal article, Davies partners Peter Glicklich and Gregg Benson point out some of the cases where the burden is much larger than it should be, requiring information that would not ordinarily be shared with the younger generation.
The Proposed Enhancement of the CRA’s Audit Powers, Part One: Under Penalty of Perjury
May 03, 2024 - The following article was originally published in Law360 Canada. Budget 2024 proposes to substantially bolster the Canada Revenue Agency’s (CRA) audit powers, underscoring the increasing burden on taxpayers to comply with information requests and the consequences of non-compliance. ...
Federal Budget 2024: How It Impacts You and Your Business
Apr. 16, 2024 - The Honourable Chrystia Freeland, Deputy Prime Minister of Canada and Minister of Finance, delivered the Liberal Party’s federal budget (Budget 2024) on April 16, 2024. Budget 2024 included a number of proposed changes to the Income Tax Act (ITA) and other tax legislation. The most...
