Personal & Corporate Tax Planning

“Parliament recognized the Duke of Westminster principle that tax planning with the objective of attracting the least possible tax is a legitimate and accepted part of Canadian tax law.”

McClarty Family Trust v. The Queen, 2012 TCC 80 at paragraph 48.

Whether you are just starting your career, or thinking about selling your business and retiring, tax lawyers at TNTL can help you with all your personal and corporate tax planning needs.

 

Tax planning is an important part of a taxpayer’s financial health and should be periodically revisited and always considered carefully before making any significant financial decisions. The most beneficial tax planning does not happen once, but over a taxpayer’s lifetime.

 

Tax lawyers at TNTL can assist you with:

  • Business succession planning

  • Small business deduction planning

  • Capital gains deduction planning

  • Purchase/sale of business tax planning

  • Purchase/sale of asset tax planning

  • Purchase/sale of real estate tax planning

  • Business structures and reorganizations

  • Executive tax planning

  • Tax planning for professionals and private business owners

  • Registered retirement savings (“RRSP”) planning

  • Tax-free savings account (“TFSA”) planning

  • Registered Retirement Income Fund (“RRIF”) planning

  • Employee compensation benefits, and stock option planning

  • Charitable donations and gifts

  • Loss planning

  • And much more

Trust & Estate Planning

“On death, all capital property of a deceased taxpayer is deemed to have been disposed of, immediately before death, for proceeds of disposition equal to the fair market value of the property. Any resulting taxable capital gains (or allowable capital losses) have to be recognized as income (or loss) of the deceased for the taxation period ending at his or her death.”

Homer v. The Queen, 2009 TCC 219 at paragraph 16.

Tax law and estate planning go hand-in-hand. The largest tax bill a taxpayer will ever receive from the Canada Revenue Agency will be upon their death. However, these tax obligations can often be reduced or deferred if proper planning is undertaken. This ensures you will leave a larger estate to your loved ones. Proper estate planning should be reconsidered periodically over one’s lifetime to maximize the benefits of any tax planning. As such, it is never too early (or too late) to consider your estate plan.

 

Tax lawyers at TNTL can assist you with:

  • Estate freezes and related tax deferral strategies

  • Settlement of family trusts

  • Tax and succession planning with respect to significant family assets

  • Tax advice with respect to the preparation of your will and enduring power of attorney

  • Family farm succession planning

  • Family business succession planning

  • Marriage contracts and family law planning

  • And much more

Tax Appeals

“While paragraph 9 of the Rules allows the Court to dispense with compliance with any rule, it does not allow a Court to dispense with the requirements of the Tax Court of Canada Act nor can this court change this Act. Section 17.1 of the Tax Court of Canada Act is clear and the Appellant may either appear in person or be represented by counsel….”

The Honourable Justice W. Webb
Tax Court of Canada

As a taxpayer, tax accountant or tax preparer, you will make significant contributions to a tax dispute during an audit or appeal to the Canada Revenue Agency (“CRA”). However, when the CRA has improperly denied your position, the next step is an appeal to the Tax Court of Canada.

 

Non-lawyers cannot represent taxpayers during general procedure appeals so it is important to find a lawyer who is experienced in the unique rules of evidence and procedure exclusive to the Tax Court, as well as the complex regulatory regime surrounding taxation in Canada. Tax lawyers at TNTL have experience advancing appeals in Tax Court and litigating cases against the Federal Government Lawyers who represent the CRA. Whatever the issue, we will vigorously advance your appeal to the Tax Court and beyond.

Criminal Tax Evasion

“When individuals are convicted of failing to report income on their tax returns, in addition to any fines imposed by the courts, they must still pay the full amount of taxes owing, plus interest, as well as any civil penalties that may be assessed by the CRA.”

Canada Revenue Agency
Convictions Newsroom

Although tax audits and appeals are stressful and can have a negative financial impact on taxpayers, nothing is as perilous as an investigation by the Canada Revenue Agency’s Criminal Investigations Division (“CRA”).

 

Conviction of a criminal tax offence carries with it a fine of between 50% and 200% of the tax sought to be evaded. In addition to the fine, a taxpayer can face imprisonment of a term up to 5 years or more. The taxpayer must still also pay the tax, including any interest and penalties. The financial and personal consequences can be devastating.

 

If you suspect the CRA may be undertaking a criminal investigation, it is imperative that you obtain competent legal advice immediately. Our experience is that early intervention increases the likelihood that the taxpayer will avoid criminal charges or mount a successful defence. In our opinion, neither a taxpayer nor their accountant/tax preparer should deal with CRA if a criminal investigation is anticipated as these matters are extremely complex and perilous legal threats.

 

To defend these criminal tax cases, lawyers require experience in criminal law and procedure as well as an in-depth knowledge of tax law and the regulatory regime surrounding taxation in Canada. Neither your typical criminal lawyer nor your typical tax lawyer is experienced in both. The tax lawyers at TNTL have handled and resolved many criminal tax cases.

 

Contact us today for an urgent and confidential review of your case, and let our experience benefit you.

Tax Audits

During an audit the Canada Revenue Agency (“CRA”) will not necessarily apply Canada’s tax laws in your favour, or even fairly. Taxpayers should always conduct a critical analysis of any adjustment imposed by the CRA to make sure it is a proper application of Canadian tax law.

Tax audits by the Canada Revenue Agency (“CRA”) can be frustrating, stressful, and expensive. The CRA has significant legal and financial resources which it uses to its advantage. As such, experienced professional representation is necessary to help ensure your audit ends with the best possible result.

 

Auditors focus on facts and law which are favourable to the CRA. This can result in a much higher tax assessment, including sometimes double-tax, triple-tax, as well as excessive penalties and interest charges. Tax lawyers at TNTL will conduct a factual and legal analysis which puts your best position forward. This will help ensure the lowest possible tax assessment you are entitled to according to law.

 

Contact us today for your free confidential audit consultation.

Tax Objections

“You are entitled to fair treatment in all your dealings with us. One of the most important features of this is the right to a formal review of your income tax assessment.”

Canada Revenue Agency
Resolving Your Dispute

After the Canada Revenue Agency (“CRA”) has completed your audit, they will issue a Notice of Reassessment imposing additional tax on you. If you disagree with the CRA’s reassessment of tax, you are required to submit a Notice of Objection to the Chief of Appeals to request a formal review of the additional tax imposed by the auditors. After receiving the Notice of Objection, the Chief of Appeals will assign an Appeals Officer to review your case. Appeals Officers are knowledgeable about Canada’s tax laws. As such, making a compelling submission to an Appeals Officer requires extensive experience interpreting and applying Canada’s complicated tax legislation.

 

Tax lawyers at TNTL are experienced at drafting compelling submissions for review by the Appeals Division of the CRA. Further, our lawyers frequently resolve tax disputes with CRA’s Appeals Officers which avoids a costly appeal to the Tax Court of Canada. As such, early intervention in your tax dispute is recommended.

 

Contact us today for a free confidential evaluation of your tax reassessment.