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To tell the truth: Damages in breach of duty of honest performance
As set out in the 2020 Supreme Court of Canada (SCC) case of C.M. Callow Inc. v Zollinger (“Callow”), the duty of honest performance of a contract requires that parties must not lie or otherwise misled each other about matters directly linked to the performance of the contract.[1] This article will review the method by ... Read more
Food and beverage industry is poised for change
The food and beverage industry is entering a new phase in a world of evolving consumer demands and global challenges. Following a series of declines, the industry is finding itself at a crossroads and poised to transform in the months and years ahead, according to the 2024 Trend Report from Nourish Food Marketing. All indications ... Read more
Best practices for managing cash flow in a stressed economy
Businesses of all sizes in the food and beverage industry are facing a complex and challenging environment that is creating unprecedented competitive pressure. According to the 2023 FDD Food and Beverage Industry Report: Manufacturing margins under pressure, food and beverage manufacturing sales showed strong growth in 2022 (10.6% to $156 billion) ... Read more
Non-resident rental income: What are the tax obligations?
If you are a non-resident who earns rental income, you must meet certain tax obligations with the Canada Revenue Agency (CRA). The income you earn from rental properties is subject to tax under Part XIII of the Income Tax Act (Canada). Rents earned by Non-residents are subject to tax under Part XIII at a rate ... Read more
New trust reporting rules now in effect
The federal government announced new trust reporting rules in the 2018 Federal Budget to improve the collection of beneficial ownership information with respect to trusts. The rules were introduced to effectively counter aggressive tax avoidance as well as tax evasion, money laundering, and other criminal activities relating to trusts. The new trus ... Read more