Canadian Tax Basis: Reimagining The Dedication Of Tax Avoidance – Tax Authorities

28 June 2022

Bennett Jones LLP

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The Canadian Tax Foundation’s newsletter Perspectives on
Tax Law and Policy (June 2022) features an article by Anu
Nijhawan and Jared Mackey on Reimagining the Determination of Tax
Avoidance. In view of the government’s recently-announced
consultation to modernize the General Anti-Avoidance Rule (GAAR),
the authors share their insights and proposals for an amended GAAR,
which they argue would preserve the GAAR as a flexible tool to
target tax abuse while also offering greater certainty as to the
application of GAAR in particular circumstances. This would, in
turn, increase taxpayer compliance, decrease litigation and its
associated economic and administrative burdens, and, ultimately,
contribute to a more collaborative relationship between legislators
and taxpayers.

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Income Tax Act And Bill C-208

Devry Smith Frank LLP

On June 29th, 2021, Bill C-208 (“C-208”) received royal assent and amended section 84.1 and section 55 of the Income Tax Act.