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

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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.)

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Original Article Source Credits: mondaq,

Article Written By  David Rotfleisch

Original Article Posted on : 16 April 2020

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