Category: Tax

Proposed Changes to Stock Option Tax Rules

June 19, 2019

On June 17, 2019, Canada’s finance minister tabled a Notice of Ways and Means Motion regarding the taxation of employee stock options. This follows from the government’s announcement in the 2019 Budget that it intended to limit the availability of the 50 per cent deduction on employee stock option benefits (i.e., the deduction that effectively provides capital gains treatment on…

Quebec Taxpayers Take Note: Timely Disclosure of Nominee Agreements Now Required

May 31, 2019

As mentioned in the March 21, 2019, Quebec budget, the Province of Quebec has bolstered the disclosure requirement of nominee agreements (Measure). This initiative is in line with its stated intention to protect the integrity and fairness of its tax system. The Measure forms part of the Quebec Ministry of Finance’s Information Bulletin 2019-5 (Bulletin) published on May 17, 2019, and…

Your Guide to the 2019 Federal Budget

March 22, 2019

On March 19, 2019, the Government of Canada released its 2019 budget (2019 Budget) before the federal election later this year. We’ve summarized the key aspects from the 2019 Budget that may impact your business.  For tax changes, including proposed changes to the excise taxation of cannabis extracts (including oils), cannabis edibles and cannabis topicals, please see 2019 Federal Budget – Selected Tax…

2019 Federal Budget – Selected Tax Measures

March 20, 2019

On March 19, 2019, the Minister of Finance introduced Canada’s 2019 federal budget (2019 Budget). The government had already signalled that the primary focus of the 2019 Budget would not be business concerns as those had been largely addressed in the 2018 Fall Economic Statement. Given that 2019 is an election year, that should not be surprising. Nonetheless, the 2019…

Saskatchewan PST Exemption Reinstated for Equipment Used in the Oil and Gas Industry

January 28, 2019

The Saskatchewan Ministry of Finance has reinstated a previously repealed provincial sales tax (PST) exemption on permanently mounted equipment (PME) used in the oil and gas industry. As a retroactive change, PST that had been paid on now-exempt equipment can be claimed back as refunds (as tax paid in error).   BACKGROUND Historically, Order in Council 1436/67 (dated August 16,…

What the New Speculation and Vacancy Tax Act Means for B.C. Real Estate

January 4, 2019

British Columbia’s Speculation and Vacancy Tax Act (Bill 45) (SVTA) recently received royal assent. As announced in the 2018 provincial budget, the SVTA introduces a tax on residential properties left vacant for six months or more within a calendar year (Speculation Tax). APPLICATION OF TAX The Speculation Tax applies on the basis of an owner’s interest in a residential property…

Federal Carbon Pricing System Coming Into Force January 2019: How Will it Impact Your Business?

December 17, 2018

Under the Greenhouse Gas Pollution Pricing Act (Act), the federal government is empowered to administer and enforce a two-pronged carbon pricing system in provinces and territories that either fail to meet the federal benchmark specified in the Act or choose to adopt it voluntarily (Listed Provinces). For a discussion regarding the political and legal challenges surrounding the Act and its…

Selected Tax Measures from the 2018 Fall Economic Statement: Changes for Capital Assets, Canadian Journalism

November 22, 2018

On November 21, 2018, Canada’s Finance Minister Bill Morneau presented the federal government’s Fall Economic Statement (Statement), which includes significant tax changes that take effect immediately. This bulletin highlights two tax measures included in the Statement: changes to Canadian tax depreciation rates for new investments in capital assets, and measures designed to support Canadian journalism. ACCELERATED TAX DEPRECIATION FOR NEW…

Canada Details Federal Carbon Pricing System in Face of Increasing Opposition

October 26, 2018

On October 23, 2018, the Government of Canada announced additional details regarding the federal carbon pricing system and published draft regulations amending the Greenhouse Gas Pollution Pricing Act (Act). A federal fuel charge of C$20 per tonne of carbon emissions will come into effect in Manitoba, New Brunswick, Ontario and Saskatchewan in April 2019 and in Yukon and Nunavut in…

2018 Legal Trends: The Sharing Economy

June 12, 2018

As part of our quarterly series on current trends across different industries, our second article takes a closer look at the sharing economy and how this new economic model impacts suppliers, customers and platform providers in various ways. Here are a few legal trends to watch for as the sharing economy evolves.