Taxing Questions

A RECENT LANDMARK TAX COURT DECISION CUTS TO THE HEART OF WHAT CONSTITUTES A FINANCIAL SERVICE AND POTENTIALLY IMPACTS EVERY CANADIAN BANK AND CREDIT UNION THAT ISSUES A CREDIT CARD UNDER ITS NAME

By Sandra Rubin
LEXPERT-RANKED LAWYERS


Is the credit card company Visa a financial service? In a landmark decision handed down over the summer, the Tax Court of Canada held that it is not. Canadian Imperial Bank of Commerce v. Her Majesty the Queen, 2018 TCC 109, means at least one major...

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