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Supreme Court Decision in Lipson

Supreme Court Misses the Mark in Lipson
Drache Webinars

Supreme Court Misses the Mark in Lipson - Charles Rotenberg
On Thursday January 8, 2009, the Supreme Court of Canada (SCC) released its judgment in Earl Lipson, et al. v. Her Majesty the Queen, upholding the Federal Court of Appeal's decision by a 4-3 majority. The majority decision was written by two criminal lawyers, a family lawyer and a labour lawyer, and the only Justices who actually know something about tax were in the minority. The unfortunate result is that for taxpayers and their advisors, we have very little additional clarity as to the application of GAAR than we did before. The Lipson case involved a series of transactions that resulted in Mr. and Mrs. Lipson purchasing a family home, and making the mortgage interest deductible. This is not unusual, and the Court had dealt with transactions of this nature in the past. Singleton was decided without reference to the General Anti-Avoidance Rule (GAAR), and the Supreme Court upheld the transactions in that case.
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Drache Webinars - Charles Rotenberg
n 2009 Drache LLP will be presenting webinars for our clients. We are pleased to announce that we have scheduled the first two. The upcoming Federal Budget is scheduled for the afternoon of Tuesday January 27th. Charles Rotenberg will be presenting our analysis of the Budget at 1:00 pm on Wednesday, January 28th.
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