North America: Tax

Free tokens are rarely free of tax consequences. Airdrops, staking rewards, yield-farming distributions and DAO compensation all arrive in a crypto wallet without a purchase, which makes them easy to overlook at filing time, and difficult to characterize when they are not overlooked.

The GST/HST New Housing Rebate lets a purchaser recover part of the GST/HST paid on a newly built or substantially renovated home used as a primary residence.

When the Canada Revenue Agency (CRA) concludes that a GST/HST registrant’s books and records do not provide a complete or reliable picture of its taxable sales, it may reconstruct those sales using an alternative or indirect audit method.

If you are a Muslim homebuyer weighing a halal mortgage against a conventional one, the product that keeps you offside your faith may still put you offside the taxman in ways a conventional mortgage never would.

New York City's new pied-à-terre surcharge introduces a "renovation gap" that may unexpectedly impact property owners during major construction projects. Partners Alexandra Wald and Nicholas Kaiser analyze why owners of properties that cannot be legally occupied during renovations may still face the surcharge, and what stakeholders should consider to navigate this complex issue.

This amendment increases the homestead exemption, for all non-school taxes, to $150,000 in 2027, and $250,000 in 2028, and adjusts for inflation thereafter. It requires the legislature to prescribe a uniform procedure for counties and municipalities, for their respective levies, to increase the homestead exemption up to full assessed value, and allows special districts, subject to referendum approval, to do the same.

Robinson v Canada (Attorney General), 2026 FC 854 (Federal Court File No. T-1567-22) [Robinson] is a significant Federal Court decision for taxpayers, accountants, and advisors managing cross-border residence disputes

The GST/HST New Housing Rebate lets a purchaser recover part of the GST/HST paid on a newly built or substantially renovated home used as a primary residence.

A CRA refusal is not always something that can be challenged through the normal tax objection and appeal system. The first question is usually whether the taxpayer is disputing a discretionary CRA decision, which may be reviewed by the Federal Court, or disputing the correctness of a tax assessment, which generally belongs in the Tax Court of Canada.

Corporations are treated as distinct legal persons, separate from their shareholders, directors, and officers.

Liability management exercises (LMEs) offer companies facing financial pressure an alternative to formal bankruptcy, but their tax consequences can significantly impact long-term value creation. Understanding how different LME structures affect cancellation of indebtedness income, tax attributes, and future deductions is essential for stakeholders evaluating out-of-court debt restructuring options.

Navigating the complex landscape of US federal income tax rules is crucial for investors and sponsors in private equity, venture capital, and hedge funds. Understanding how different investor categories—from US taxable entities to foreign pension funds—face distinct tax sensitivities can significantly impact investment returns and structural decisions when forming or investing in funds.