Canada’s highest court on Thursday rejected a liability insurance service’s bid to win exemption from income tax.
The Supreme Court of Canada dismissed Lawyers’ Professional Indemnity Co.’s application for leave to appeal of the Federal Court of Appeal’s May 2020 judgment that found the company was not a “public body performing a function of government” exempt from taxes.
The company, also known as LawPRO, provides mandatory liability insurance in Ontario and title insurance across Canada. It’s a subsidiary of the tax-exempt Law Society of Ontario, which regulates the legal profession in Canada’s largest province.
The Federal Court of Appeal ...