Beware the Traps of Capital in Tax Law Vern Krishna, CM, QC, FRSC, LSM, Of Counsel at TaxChambers LLP   The concept of stated capital is one of the foundational...

The Tax Court of Canada recently released its decision in Twomey v. The Queen (2012 TCC 310) which addressed whether the taxpayer could claim the lifetime capital gains exemption on his sale...