An analysis of the decision by Borden Ladner GervaisBorden Ladner Gervais, provides a detailed analysis of this landmark decision.In an 8-1 decision, the Supreme Court of Canada dismissed the availability of equitable rescission to avoid unanticipated adverse tax consequences, even where such consequences were the direct result of the taxpayers’ reliance on long-accepted guidance from the Canada Revenue Agency. The Canadian Supreme Court also effectively barred taxpayers from seeking other equitable relief options for tax-related errors, except in very narrow circumstances. Our Canadian firm,
Authors: Laurie Goldbach and Elizabeth Egbertshere.Read the full article
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