Tax Lawyers Save Client From $250,000 Derivative Income-Tax Liability Under Section 160 Of The Income Tax Act– A Canadian Tax Lawyer's Case Study Analysis
Generally speaking, if you receive property from a person with income-tax debt, the Canada Revenue Agency can pursue you for those tax debts. Section 160 of the Income Tax Act gives the CRA a means of chasing a person for the tax debts of a related party from whom that person has received property. (The Excise Tax Act contains an analogous rule applying to those who receive property from a person with GST/HST debts.)
Original Article Source Credits: mondaq, https://www.mondaq.com/
Article Written By David Rotfleisch
Original Article Posted on : 16 April 2020
Link to Original Article: https://www.mondaq.com/canada/sales-taxes-vat-gst/918192/tax-lawyers-save-client-from-250000-derivative-income-tax-liability-under-section-160-of-the-income-tax-act-a-canadian-tax-lawyer39s-case-study-analysis