TaxMatters@EY – July 2012

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 Tax issues affect everyone. To help you get up to speed on the latest hot topics, the July issue of Canada’s TaxMatters@EY is now available. The equitable remedy of “rectification” of documents to reflect taxpayers’ intended tax consequences has become increasingly important, and a recent BC Superior Court decision provides welcomed guidance.

This monthly bulletin includes recent tax news highlights, resources and publications.

The July issue also features:

  • The CRA’s administrative concessions for calculating joint venture stub period income
  • An update on the OECD’s review of intangibles
  • A look at findings from EY’s 2011–12 Global tax risk and controversy survey

You’ll find all this and more in the latest edition of TaxMatters@EY.


BC court clarifies when rectification is available
McPeake v Canada, 2012 BCSC 132
Lucie Champagne, Toronto North, and Jennifer Smith, Ottawa

The equitable remedy of “rectification” of documents to reflect taxpayers’ intended tax consequences has become increasingly important since the decisions of the Ontario Court of Appeal in Juliar SC and Canada (Attorney General) v Juliar ((2000), 50 O.R. (3d) 728 (C.A.)). Since then, there have been many provincial court decisions that have addressed the circumstances in which a court will permit rectification.

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