Category: Tax

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Alberta Follows Through With Consumer, Small Business Aspects of Climate Leadership Plan, Passes New Act

June 13, 2016

After significant debate, the Alberta legislature passed the Climate Leadership Implementation Act (Act) on June 7, 2016. While it has yet to receive royal assent, the Act represents a significant step in converting portions of the Government of Alberta’s Climate Leadership Plan (Plan), into law. In particular, the Act structures the carbon levy and certain energy efficiency aspects of the…

Legal Advisers’ Files Are Not Archives for Tax Authorities, SCC Rules

June 8, 2016

The Supreme Court of Canada (SCC) released two decisions last week regarding the power of the Canada Revenue Agency (CRA) to demand production of information and documents, including accounting records, from lawyers and notaries in the context of audit or enforcement action against a client or against the legal adviser personally. The SCC declared that the CRA’s power to require…

Your Guide to the 2016 Federal Budget

April 15, 2016

We have summarized key aspects of the Liberal government’s 2016 federal budget that may impact your business. Please see 2016 Federal Budget – Selected Tax Measures for more information. For pension-related matters, see Federal Budget 2016 – Pension Issues. For financial services, see 2016 Federal Budget – Financial Services Highlights. For infrastructure, see Change Orders: Analyzing Proposed New Infrastructure Spending in 2016 Budget. In…

Legal Trends 2016: Tax

April 7, 2016

ONE | A NEW LIBERAL GOVERNMENT Elected in October 2015, Canada’s new Liberal government has proposed a tax platform featuring significant changes, including a four per cent increase (to 33 per cent) in the federal tax rate for individuals on income over C$200,000 and a 1.5 per cent drop in the middle-income tax rate. The new government has also pledged to limit the amount of…

2016 Federal Budget – Selected Tax Measures

March 23, 2016

On March 22, 2016, the Minister of Finance tabled Canada’s 2016 Federal Budget (the 2016 Budget). This was the first budget presented by the newly-elected Liberal government, which won a strong majority in the fall 2015 federal election after nearly a decade with the Conservative party in power. The Liberals were elected on a platform that included promises to provide tax…

Quebec 2016-2017 Budget: Continued Fiscal Discipline

March 18, 2016

On March 17, 2016, the Quebec government (Government) unveiled the 2016-2017 budget (Budget). The Government confirmed that it balanced the books for 2015–16 and anticipates maintaining a balanced budget for 2016–17. The balanced budget comes without raising any income taxes, sales taxes or fees. The balanced budget is, however, based on certain important assumptions, including an economic growth of 1.5…

Opportunities for U.S. Private Equity in Canada’s Energy Sector

March 14, 2016

The Canadian energy sector represents a unique investment opportunity for private equity investors seeking to invest in, or acquire outright, established energy assets at a discount to historical prices. The ability to capitalize on the discounted debt of oil and gas companies in a low-risk jurisdiction like Canada has never been more attractive. One of the many factors that make…

Ontario Retroactively Eliminates Land Transfer Tax Exemption for REITs, Other Pooled Investment Vehicles

February 19, 2016

On February 18, 2016, the Ontario Ministry of Finance published retroactive amendments to regulation 70/91 to the Land Transfer Tax Act (Ontario), pursuant to which an acquisition of an interest in a partnership that owns land in Ontario is generally not subject to Ontario land transfer tax so long as the acquirer’s interest in the partnership does not increase by…

Changes to British Columbia Property Transfer Tax

February 17, 2016

On February 16, 2016, the British Columbia government released its 2016 budget (Budget). Contained in this budget were several important changes to the Property Transfer Tax Act (PPTA). INCREASE IN PROPERTY TRANSFER TAX RATE FOR PROPERTY IN EXCESS OF C$2 MILLION The Budget introduced a third property transfer rate of three per cent on the portion of fair market value of…

Look Ahead: 2016 Legal Trends

January 8, 2016

  While global markets can be unpredictable, we have assembled some key legal trends that may help you prepare for what lies ahead in 2016.  ​​​​   Anti-Spam   Capital Markets  ​ China    Commercial Real Estate Cybersecurity Employment & Labour Financial Services Regulatory Intellectual Property International Trade   Litigation & Dispute Resolution   Mergers & Acquisitions   Oil &…

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