2 total
Motion for a permanent confidentiality order granted to protect the appellant's commercial trade secrets.
The appellant, Future Electronics Inc., brought a motion for a permanent confidentiality order to redact the names of its suppliers and clients, as well as information regarding its business model, from the trial transcripts.
The Tax Court of Canada applied the Sherman test for discretionary limits on court openness.
The Court found that the disclosure of this information posed a serious risk to important public interests, including the preservation of confidential information, commercial certainty, and fair competition.
Concluding that redaction was necessary and that the benefits of the order outweighed its negative effects, the Court granted the motion and ordered the transcripts redacted.
Employee stock options gifted to charity are taxable at fair market value.
The appellants donated stock options to registered charities and claimed corresponding tax credits in their returns.
The tax authority reassessed the taxpayer to include the fair market value of the gifted stock options in his taxable income pursuant to ss. 50 and 422(c)(ii) of the Taxation Act.
The Court of Québec vacated the reassessments but the Quebec Court of Appeal restored them.
The Supreme Court of Canada unanimously affirmed the Court of Appeal, holding that s. 422(c)(ii) applies to the disposition of stock options by gift and that Division VI of the Taxation Act does not constitute a complete code that excludes the application of s. 422.
