Equity won’t rescind tax transaction that relied on CRA’s faulty legal interpretation: Supreme Court

By Cristin Schmitz ( June 17, 2022, 5:20 PM EDT) -- Taxpayers who sustain unforeseen or unintended tax liabilities after structuring tax arrangements, in this case based on a faulty legal interpretation from the Canada Revenue Agency (CRA), can’t look to equity to rescind their transactions, the Supreme Court of Canada has ruled....