Legal News Report

Tax Planning For Asset Transfers to a Corporation (Part II)

Many clients are not aware of complex tax planning considerations involving HST, accounts receivable and Ontario Land Transfer Tax relating to the transfer of assets to a corporation pursuant to Section 85 of the Income Tax Act. To access our latest Legal Business Report dealing with this topic, click here.

Alpert Law Firm's tax expertise enables its corporate clients to minimize and defer their taxes when engaging in commercial transactions and corporate reorganizations. Howard Alpert, C.S. is certified by the Law Society as a Specialist in Taxation Law and as a Specialist in Corporate and Commercial Law. Our Team has extensive knowledge and skill in transactions involving all areas of corporate and commercial law.

CRA Requests and Requirements for Information

Section 231 of the Income Tax Act grants the CRA the power to compel a taxpayer to provide information, to allow for the inspection of documents and for access to businesses in connection with audits and civil liability. If the CRA starts a criminal investigation into the activities of a taxpayer, then documents and information can only be obtained under a search warrant. When the predominant purpose of CRA Requests or Requirements for information or documents is to further a criminal investigation, then the taxpayer’s rights under the Canadian Charter of Rights and Freedoms will be engaged. To read our latest Legal Business Report on this topic, click here.

In Singh v. The Queen 2007 TCC 117, Alpert Law Firm successfully brought a Motion in the Tax Court of Canada on behalf of a taxpayer compelling the RCMP to release seized business records, which the taxpayer required in order to fully prepare his defence against a CRA reassessment. To read a summary of this decision, click here.

Alpert Law Firm are the Tax Law Professionals, with over 40 years’ experience in winning leading cases and a reputation for getting excellent results for our clients. Howard Alpert, C.S. is certified by the Law Society as a Specialist in Taxation Law. Vivian Xu, B.A. J.D. is an associate lawyer specializing in tax dispute resolution, tax litigation and taxation and estate planning services. Our Team has a reputation for resolving tax disputes and for getting excellent results for our clients in a cost-effective manner, whether through negotiating timely and reasonable settlements with the CRA or by vigorous representation in court. For more information on our Tax Litigation Services, click here.

Wealth Preservation Strategies

Asset protection planning often involves the creation of holding companies, a corporate reorganization and the implementation of an estate freeze. Such planning regularly requires the preparation of wills, trusts, powers of attorney, living wills and property transfers. Howard Alpert, C.S. is certified by the Law Society as a Specialist in Taxation Law and as a Specialist in Corporate and Commercial Law and is recognized as an expert in Estates and Trusts Law. Howard provides tax planning and corporate advice to develop plans that reduce and defer tax, preserve value and maintain the financial well-being of heirs. For more information on our Wealth Preservation services, click here.