In an interview with Canadian Lawyer Magazine, Christopher Anderson discusses some of the potential implications of the 2024 federal budget, including the effect the rise in capital gains tax may have on investments in Canada and the financial impact on Canadian doctors who incorporate their practices to level the playing field earnings-wise with their U.S. counterparts. On the plus side, real estate investors will now be able to deduct their entire interest expense when investing in purpose-built rental housing.
U.S. Supreme Court Upends 40 Years of Judicial Deference to Regulations
July 25, 2024 - In a historical opinion in Loper Bright Enterprises v. Raimondo, Secretary of Commerce, released at the end of June, the U.S. Supreme Court overturned the “Chevron” doctrine, which for so long had controlled judicial review of U.S. federal regulations. Chevron, decided in...
Canada Finally Enacts the Digital Services Tax (Maybe)
July 09, 2024 - The new Digital Services Tax Act came into force with an order-in-council on June 28, 2024, imposing a 3% digital services tax (DST) on certain Canadian-source digital services revenue of large entities. The DST would first be payable in 2025, with the initial payments retroactively...
