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Drache June 2008 Newsletter

   June 2008 Drache LLP Newsletter
   Inter Family Loans
   Deductibility of Club Dues
   “But I have nothing to do with Quebec!”
   Squabbles Within the Family
   À qui la responsabilité? La succession, l’exécuteur testamentaire ou le bénéficiaire?
   National Arts Service Organizations

June 2008 Drache LLP Newsletter - Charles Rotenberg
It is mid-June, 2008 and most of us would rather be on vacation than thinking about tax and estate planning. However, quieter times are good times for contemplating where we are and where we are going.
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Inter Family Loans - Charles Rotenberg
The Income Tax Act contains a number of anti-avoidance rules, generally referred to as the Income Attribution Rules, the thrust of which is to prevent (or attempt to prevent) higher rate taxpayers from shifting investment income to lower rate taxpayers, usually spouses or minor children.
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Deductibility of Club Dues - Arthur Drache
One of the most attractive perks of senior employees is receiving membership in a club the fees of which may often be beyond his or her ability to fund. There are two tax issues which are in play. The first is whether the employer can deduct the dues paid, even assuming that it is conceded that the purpose of the membership is to facilitate business. The problem is that the Income Tax Act has some stringent limitation in place.
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“But I have nothing to do with Quebec!” - Steven Szilagyi
Ronald Dunne was a partner with Ernst & Young for many years. Residing in Ontario he never worked with any of the partners in Quebec. He never owned assets there, he never carried on a business there, and he never established an office there. He had no clientele in the province and had never been employed there. In 1994, Mr. Dunne retired from the partnership and became eligible to receive retirement benefits from the partnership. Three years later Revenue Quebec determined that a portion of his retirement income constituted income earned in Quebec and was therefore taxable under the Quebec Taxation Act. Since 20% of the income earned by the accounting partnership’s income was earned in Quebec, a corresponding 20% of Mr. Dunne’s income was similarly taxed in Quebec.
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Squabbles Within the Family - Adam Aptowitzer
It is not often that we hear of cases where charities sue other charities but such an occurrence is going on in Ottawa. There are several aspects to the case which might be of interest to charity law practitioners.
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À qui la responsabilité? La succession, l’exécuteur testamentaire ou le bénéficiaire? - Sebastien Desmarais
Qu’en est-il si votre succession omet de payer vos impôts après votre décès? Qui est ce que l’Agence du Revenue du Canada (l’ « ARC ») peut-elle cotiser? Peut-elle vraiment aller cotiser vos bénéficiaires pour l’impôt non payé? Et vous qui recevez en tant que bénéficiaire, avez-vous à vous inquiéter d’être cotiser pour l’impôt non payé de la succession?
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National Arts Service Organizations - Joel Sector
An arts organization that meets specific conditions is eligible to apply to the Department of Canadian Heritage to be designated as a National Arts Service Organization (a “NASO”), and subsequently to the Canada Revenue Agency, Charities Directorate, for status as a Registered National Arts Service Organization (a “RNASO”) under the Income Tax Act (the “Act”). This designation was designed to assist arts service organizations in raising funds from the private sector and was added to the Act in 1991. While the legislative requirements for registered charities and RNASOs are distinct, both enjoy the same tax treatment.
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