All that Glisters is Not Tolled, but is the Story Fully Told?
On October 10th, 2018 the Ontario Court of Appeal released its decision dismissing the appeal in the case of National Money Mart Company v 24 Gold Group Ltd., 2018 ONCA […]
WeirFoulds Lawyers Recognized in the 2018 Canadian Legal Lexpert® Directory
Glenn W. Ackerley, Raj Anand, Sandra Astolfo, Denise Baker, Lisa A. Borsook, Clare E. Burns, Jeff G. Cowan, M. Jill Dougherty, Lori M. Duffy, Robert Eberschlag, Bryan Finlay QC, Jordan Glick, Nikiforos Iatrou, James G. Kosa, Barnet H. Kussner, W. A. Derry Millar, J. Gregory Richards, Max […]
WeirFoulds represents Optiv Security in acquisition of Conexsys
On November 13, 2017 Optiv Security, a market-leading provider of end-to-end cyber security solutions announced that it is continuing to accelerate its growth strategy by acquiring Conexsys, a Toronto-based security […]
Government Backtracks on Anti-Surplus Stripping Proposals, and Looks to Develop Alternative Proposals
Happily, on October 19, 2017, the Federal Government announced it is not proceeding with yet another measure in its July 18 proposals this time, the anti-surplus stripping proposals. Earlier in […]
Proposed Tax Measures to Limit Deferral Benefits of Acquiring Passive Investments in Private Corporations
On October 18, 2017, the Federal Government announced its intention to introduce measures to limit the deferral advantage associated with a private corporation using active business income to make passive investments (the […]
Government Backtracks on Certain Income Tax Proposals Impacting Private Corporations and their Shareholders
On October 16, 2017, the Federal Government announced its intention to lower the small business tax rate from 10.5% to 10 per cent, effective January 1, 2018, and to 9 […]
Beware: Proposed Tax Changes May Require you to Act Now
In a prior Client Alert, we summarized tax proposals released on July 18th, 2017 that will, if enacted as proposed, significantly change the tax rules for private corporations and their shareholders. In […]
Sweeping Tax Proposals to Impact Private Corporations, Their Shareholders (including Family Trusts) and Post-Mortem Tax Planning
On July 18, 2017, becoming or staying an employee (particularly a government employee) became more attractive. That is the date the Trudeau government released the consultation paper that was promised […]
Another Success for the WeirFoulds Tax Litigation Group
On September 28, 2016, the Tax Court of Canada released the judgment in the matter of 2187028 Ontario Inc. v. Her Majesty The Queen. Ryan Morris, Tax Co-Chair at WeirFoulds, […]
Toronto Ponders Controversial New Parking Tax to Help Balance City Books
Counsel advising shareholders of private corporations need to pay careful heed to the Ontario Court of Appeal decision in Frye v. Frye Estate.
Non-Resident Employer Certification Regime: Withholding Relief for Non-Resident Employers and Employees
INTERNATIONAL TAX LAW UPDATEOn June 23, 2016, Budget Implementation Act, 2016, No. 1 received Royal Assent, which among other things, enacts a non-resident employer certificate regime that may be of interest to employers sending employees to Canada.
Panama Papers and Offshore Accounts: Window of Opportunity to Make a Voluntary Disclosure Closing
Canadian residents are required to report worldwide income. Furthermore, Canadian residents are generally required to annually file a special information return for any year that they held, at any time in that year, “specified foreign property” that had a cost exceeding $100,000. A failure to report such income or file any such return makes the Canadian resident liable to significant penalties (for which interest accrues daily) and potentially open to criminal prosecution.
Estate Alert – Proposed Amendments to Ontario Legislation in Respect of Parental Recognition
Bill 137 – An Act to amend the Children’s Law Reform Act, the Vital Statistics Act andother Acts with respect to parental recognition, which is also known as Cy and Ruby’s Act (Parental Recognition), 2015 – proposes a number of amendments to the statutes dealing with parental recognition.
WeirFoulds Represents Honeywell in the Acquisition of COM DEV International’s Space Hardware and Systems Business
On Thursday, February 4, 2016, Honeywell (NYSE:HON) completed the previously announced acquisition by plan of arrangement of COM DEV International Ltd. (TSX:CDV), a leading satellite and space components provider of switches and multiplexers.
Estate Alert – Common Misconceptions about Joint Accounts and Joint Ownership
Elderly parents will often put their money into bank accounts held jointly with their adult children, or transfer real property into a joint tenancy with one or more of their adult children. Sometimes, this is done for expediency so that an adult child can help manage the asset. In other cases, this is a planning technique used to avoid estate administration tax when the parent dies.