Spectrum’s Selection of Tax/Federal Court Decisions in 2017

Notable Tax Court and Federal Court (tax related) decisions released in 2017.   Tax Court   Hurd Dentistry v HMQ, 2017 TCC 142 – This case concerned the tax treatment of orthodontic supplies under the Excise Tax Act.  Specifically, whether there is one supply of orthodontic treatment to a dental patient or two supplies—the orthodontic appliance and the orthodontic service.  …

Testamentary Capacity – What Does it Mean and How to Assess?

  Testamentary capacity is a term with a particular legal meaning, which is whether an individual has the necessary cognitive abilities to be capable to make a valid will.  Learn more about lawyers acting as Estate Trustees and the use of Henson Trusts.   Testamentary Capacity   There is plenty of judicial guidance on what constitutes testamentary capacity.  The test for testamentary …

Should a Lawyer Act as Estate Trustee?

Lawyers as Estate Trustees and Legal Advisor to the Estate   An estate trustee is a fiduciary.  A trustee owes a duty of loyalty to the beneficiaries to carry out the terms of the Will with honesty, due care and attention.  Lawyers may act as an estate trustee and a legal advisor to the estate.   The lawyer’s duties as a …

Changes to the Voluntary Disclosure Program Effective March 1, 2018

  The Voluntary Disclosure Program   The Canada Revenue Agency’s (CRA) voluntary disclosure program (VDP) allows taxpayer’s to correct inaccurate or incomplete information or disclose unreported information for up to 10 previous years.  If a taxpayer’s disclosure meets the CRA’s conditions for the VDP, the taxpayer is not assessed penalties or criminally prosecuted with respect to the disclosure and the …