• Musings of a Tax Chick: Summer Sweets and Legal Treats - Navigating GAAR and Baking Bliss

  • Jul 28 2024
  • Durée: 19 min
  • Podcast

Musings of a Tax Chick: Summer Sweets and Legal Treats - Navigating GAAR and Baking Bliss

  • Résumé

  • Have you heard of the "GAAR"??? GAAR stands for the "general anti-avoidance rule" and it gives the federal government broad powers to prevent transactions they deem to be against the purposes of Canadian tax law.

    Why do we care about GAAR? Well, it should be a factor to consider each and every time that you engage in tax planning, as if it applies, it can "undo" all of the tax benefits of a particular transaction. The Federal Government also just pushed through amendments to the GAAR rules which broaden the applicability of GAAR, and also impose a penalty.

    So in this episode, I break down: "old" GAAR, "new" GAAR, and a recent case where GAAR was considered (DAC Investments). I also reminisce about my days as a clerk at the Court of Appeal, and give a sneak peek of new episodes coming up in the next few months!

    RESOURCES DISCUSSED ON THIS EPISODE

    • GAAR - Consultation Paper
    • DAC Investment Holdings Inc. v. HMTK

    HERE ARE SOME OTHER WAYS TO CONNECT WITH ME:

    • My website!
    • Email: thetaxchickpodcast@gmail.com
    • @tax.chick (IG)
    • LinkedIn
    • Be a "Tax Chick VIP"


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