Canada’s Department of Finance releases General Anti-Avoidance Rule consultation and paper

Canada’s Department of Finance, following through on its commitment first announced in the 2020 fall economic statement, has release its GAAR public consultation (comments are due by 30 September 2022).

The objective is to modernize the GAAR and the paper addresses different proposed approaches to further prevent aggressive tax planning.

For each of the issues described in this Alert, Finance is considering possible solutions for which they are seeking consultation.