June 21, 2022
Supreme Court of Canada closes another door on equitable relief
The Supreme Court of Canada (SCC) released its much-anticipated decision in Attorney General of Canada, et al. v. Collins Family Trust, et al., 2022 SCC 26, on June 17. The Court confirmed that the equitable remedy of rescission is not available to remedy adverse tax consequences.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert