Publications

December 16, 2016

Changes to the Taxation of Switch Funds

Effective January 1, 2017, new rules will govern the taxation of mutual fund corporations structured as “switch funds”. Investors switching between funds will no longer be able to do so without incurring taxable capital gains. This article summarizes the impact of such changes. Description of (…)

October 21, 2016

Use of “private” mutual fund trusts for employee’ investments through an RRSP

An increasing number of employers are looking at the possibility of creating investment vehicles to allow their employees to make investments in the employer corporation or a portfolio managed by the employer that will qualify for inclusion in, inter alia, registered retirement savings plans (RRSP), (…)

April 13, 2016

Significant amendments to the Act Respecting Duties on Transfers of Immovable following the 2016-2017 provincial budget

The use of a nominee corporation The Act Respecting Duties on Transfers of Immovables (the “Act”) imposes transfer duties (also known as the “welcome tax”) on the transfer of immovables in Quebec. Since transfer duties are only payable from the time the transfer is registered in the land register (…)

March 23, 2016

Tax relief to stimulate commercialization of intellectual property made in Québec

Inspired by a worldwide trend to encourage the growth of innovation, Québec has recently announced a new tax relief measure for innovative companies.  Thus, the Québec government is instituting an “innovative companies deduction” (ICD). The goal of this initiative is to “ensure that innovations (…)

February 24, 2016

Loss of the capital gain exemption related to the disposition of qualified small business corporation shares: beware of the options for acquiring shares

A recent decision of the Tax Court of Canada in the case of Line Durocher c. Sa Majesté La Reine1 illustrates the dangers of granting a simple option for acquiring shares in the specific context of the implementation of a shareholder agreement in respect of the Canadian-controlled private (…)

January 6, 2016

Proposed changes to tax rules on stock options

The election of a majority Liberal government last October 19 signaled that there would be numerous changes to Canadian tax policy, particularly for individuals. One of these changes which has made waves in the business community is the reform of the tax regime applicable to stock options. Under (…)

October 29, 2015

The Helms-Burton Act and its implications for Canadian investors: where do we stand at the dawn of warmer relations between the U.S. and Cuba?

CANADIAN INVESTMENTS IN CUBA The Helms-Burton Act and its risks for Canadian investors in Cuba Recommandations for investors Prospects in the face of the thaw in U.S. and Cuba relations Following the announcement of the restoration of diplomatic relations between the United States and (…)

September 1, 2015

Major changes enable registered charitable organizations to invest in limited partnership units

The federal budget presented on April 21, 2015 (the “Budget”) contains important measures enabling registered charitable organizations and private and public foundations (hereinafter collectively referred to as “Registered Organizations”) to invest their funds in units of a limited partnership.  (…)

September 1, 2015

Intellectual property due diligence in an investment context

A due diligence analysis of intellectual property rights is an important step when acquiring or making a significant investment in a business. It is particularly important in the case of a technology business, where IP rights are assets that account for almost all the value in a business. A due (…)

June 22, 2015

Directors’ Liability

CONTENTS Directors’ liability for payroll withholding taxes Due diligence: An evolving standard To what risks of liability or being found guilty are directors exposed? Environmental liability of directors and officers Directors’ liability for payroll withholding taxes Luc Pariseau and Audrey (…)

April 15, 2015

Proposal for new TSX listing requirements for ETFs, closed-end funds and structured products: codification of existing practices

On January 15, the Toronto Stock Exchange (the “Exchange”) published proposed amendments to the Toronto Stock Exchange Company Manual (the “Manual”). More specifically, a completely new section will be added to the Manual (Part XI) for determining the minimum listing requirements to be met by (…)

April 15, 2015

FATCA for investment funds – Be ready for May 1, 2015!

The Foreign Account Tax Compliance Act, or FATCA, has been an integral part of Canada’s tax system for over a year. Originally legislated under U.S. law, FATCA allowed the Internal Revenue Service (“IRS”) to obtain information from financial institutions about the financial accounts of U.S. citizens (…)

March 2, 2015

Quarterly legal newsletter intended for accounting, management, and finance professionals, Number 26

SOMMAIRE US Parent corporations sending employees into Canada to subsidiaries – General tax issues and remedy Business trips to Canada: Business visitor status or work permit? US Parent corporations sending employees into Canada to subsidiaries – General tax issues and remedy Emmanuel Sala, (…)