National Tax Group
McCarthy Tétrault’s National Tax Group has an unparalleled understanding of the Canadian and international tax landscape and can assist with all aspects of Canadian income and indirect tax advice. As businesses adapt to the rapidly evolving tax environment, our National Tax Group provides end-to-end support, including tax planning, transactional support, and tax audit and dispute services, across all jurisdictions.
“[McCarthy Tétrault’s National Tax Group] is a great team of exceptional lawyers who are truly focused on customer service. All the lawyers on the team are very smart, pursue each issue fully, make a clear effort to understand our business imperatives and are pragmatic about their recommendations. Generally speaking, the team distinguishes itself by the quality of its lawyers, but also its exceptional customer service. I work with many firms and have always received the best service from McCarthy Tétrault.”
Recent Tax Updates From McCarthy Tetrault’s National Tax Team
- A Practical Guide to the New Mandatory Disclosure Rules of the Income Tax Act
- On June 22, 2023, the new mandatory disclosure rules in the Income Tax Act (Canada) took effect. These rules expand the range of transactions that taxpayers, as well as advisors and promotors, must report to the Canada Revenue Agency. Failure to report can result in significant penalties as well as the extension of limitation periods. In this guide, we provide a practical summary of the new rules including the kinds of transactions to which they apply, who is required to report, when and how to report, and the potential risks associated with failing to report.
- Revised Draft Legislation for Share Buyback Tax
- On August 4, 2023, the Canadian federal government released a package of legislative proposals, including updated draft legislation on the proposed tax on certain equity repurchases by publicly listed companies, partnerships and trusts. Previously released as part of the 2023 federal budget, new Part II.2 of the Income Tax Act (Canada) is proposed to apply as of January 1, 2024. The revisions address some deficiencies with the initial proposal, but remain broad and it deliberately catch normal course issuer bids and substantial issuer bids. Our recent article explains these updates to the draft legislation and the potential impact to publicly listed companies, partnerships and trusts.
- Deans Knight: The Supreme Court of Canada Applies the General Anti-Avoidance Rule to Supplement a Well-Established Specific Anti-Avoidance Provision
- In May, 2023, the Supreme Court of Canada released its much anticipated decision in Deans Knight Income Corporation v. His Majesty the King, in which it applied the general anti-avoidance rule in section 245 of the Income Tax Act (Canada) and concluded that the use of tax attributes to shelter income was abusive. The decision has several important implications for taxpayers. Read our in-depth analysis here.
For further tax updates and insights please visit our Tax Perspectives blog featuring a collection of articles offering valuable viewpoints on a variety of tax-related subjects.
Awards & Rankings
Chambers Global
Leading Firm: Tax
Chambers Canada
Leading Firm: Tax
The Legal 500 – Canada
Tier 1: Tax
International Tax Review – World Tax
Tier 1: Tax; Transactional Tax
Our McCarthy Tétrault Tax Team
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