No benefit of hindsight: Ontario Court of Appeal clarifies framework for rectification

By Amanda Laren Feigen and Sebastien Tull ( September 23, 2025, 12:35 PM EDT) -- Rectification is an equitable remedy that corrects mistakes in written agreements. The recent case from the Ontario Court of Appeal, Pyxis Real Estate Equities Inc. v. Canada (Attorney General), 2025 ONCA 65, provides an important reminder of how rectification operates in the tax context and the importance of obtaining good tax advice. The case highlights the strict legal framework that must be satisfied for rectification to be granted, even where the parties intended to achieve a specific fiscal outcome....