Despite federal Liberal Finance Minister Bill Morneau’s attempt to soften his plan to tax private Canadian companies, tax lawyers still see major problems with the proposals.
All eyes in the tax bar are on two important corporate tax cases currently wending their way through the courts, which could see judgments as early as the first half of 2018.
Now that Justices Beverley McLachlin and Marshall Rothstein have left the Supreme Court of Canada, many in the tax bar are wondering not only who will carry the tax torch going forward but if Canada’s top court will have the appetite to tackle complex tax cases.
Tax lawyers say recent U.S. tax changes will present challenges for Canadian companies operating south of the border and U.S. subsidiaries operating here.
