On April 19, 2021, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the first official budget in the past two years, titled, Federal Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience (the “Budget”). The Budget proposed over $100 billion in spending, and, among the more significant measures, the Budget proposes to extend …
What Part Of Our Property Does My Spouse Have An Interest In?
A frequently asked question in family law has to do with how much of an interest, if any, each spouse has in the couple’s assets and liabilities. The way it’s usually asked is something along the lines of: “I have this [inheritance item, cash, property etc. either from before the marriage or gifted to me …
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Tax Treatment of Unemployment Benefits
The federal American Rescue Plan Act signed by President Biden in March 2021 provides that up to $10,200 of state unemployment benefits received by individuals during 2020 are excluded from gross income. Taxpayers are eligible for the exclusion only if federal adjusted gross income is less than $150,000. The mid-March legislation created some initial confusion …
Canada Continues Push for Singles-Game Sports Betting
The Canadian Criminal Code (the “Code”) sets forth the parameters of legal gaming in Canada. The Code generally prohibits sports-based wagering except where such wagering is conducted and managed by the provincial governments; however, section 207(4)(b) of the Code prohibits even those governments from offering wagering on the outcome of a single sporting event or …
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