Source: Tax Law Link: Sunita Doobay and Vitaly Timokhov to present at the Law Society of Ontario’s “Taxation Issues for Real Estate Lawyers 2018” On November 20th, Sunita D. Doobay and Vitaly Timokhov will be presenting at the Law Society of Ontario’s, Taxation Issues for Real Estate Lawyers 2018 talk in Toronto. As part of the talk, Sunita D. Doobay and Vitaly Timokhov of TaxChambers LLP will discuss, “Application of the New Income Splitting Rules to Real Estate Investments and Businesses.” The Law Society of Ontario’s talk will take place at the LSO, 130 Queen Street West, Donald Lamont Learning Centre, between 2:00 PM and 5:00 PM –
Source: Tax Law Link: US Shareholder of a Canco After 2017 Tax Reform Please see Sunita Doobay’s latest article for the Canadian Tax Foundation’s newsletter Canadian Tax Highlights which concerns Public Law no. 115-97 (2017 tax act) — the Tax Cuts and Jobs Act, signed into law on December 22, 2017, which significantly changed the Code and negatively affects a US person in Canada holding shares in a closely held corporation. Sunita Doobay is licensed in Canada and the United States. She is admitted in New York (State of New York. Supreme Court, Appellate Division. Third Judicial Department) and in Ontario (Law Society of Upper Canada), to the U.S. Tax Court and to th
Source: All Cleared Link: The New Cannabis Possession Pardon The New Pot Possession Pardon On October 17th, 2018, Public Safety Minister Ralph Goodale announced further plans by the Liberal Government to introduce legislation for a new pot possession pardon. This pardon will be aimed specifically at individuals that were previously convicted for possession of cannabis under 30 grams. What we know so far Legislation […] The post The New Cannabis Possession Pardon appeared first on AllCleared.
I am pleased to announce my being awarded — for the second consecutive year — with recognition as an International Advisory Expert. As quoted from the association’s website, recipients of such annual awards “pay tribute to firms who have been successful over the past 12 months and have received exceptional praise from their peers. Further, “[a]ll nominees are researched by our research team and group members and potential winner shortlists are created for each jurisdiction and IAE publications. All nominees are then analysed by an independent panel and winners are chosen and informed.” I am gratified to again be the recipient of s
Source: Canada US Link: Canada Is Imposing Emergency Steel Safeguards on 7 Steel Products and Conducting an Injury Inquiry On October 11, 2018, Canada’s Department of Finance announced that effective October 25, 2018, Canada will be imposing emergency tariff rate quotas on 7 categories of steel products. The Department of Finance has prepared a report and there will be an Order in Council under section 55 of the Customs Tariff to implement the emergency steel safeguard tariff rate quotas before the Canadian International Trade Tribunal determines if the protection is warranted. The Report indicates that certain steel goods are being imported into Canada in increas
Source: Canada US Link: Canada’s Process to Ratify USMCA On September, 2018, the United States, Canada, and Mexico announced that a new NAFTA was agreed and would be called the United States-Mexico-Canada Agreement (“USMCA”) (also known as NAFTA 2.0). The text of the USMCA was posted on the United States Trade Representative website. LexSage has published an USMCA Resource Guide with USMCA Chapters, NAFTA Chapters and TPP (not CPTPP) Chapters and comparison tables. The USMCA is not yet law in any of the United States, Canada or Mexico. The text of the agreement needs to be scrubbed by the government lawyers. The USMCA needs to be signed. Then each co
Source: Canada US Link: The USMCA Rules of Origin: Changes Affecting Auto Manufacturers and Auto Parts Makers Late in the evening on September 30, 2018, the United States, Canada and Mexico announced the conclusion of negotiations of the United States – Mexico – Canada Agreement (”USMCA”) (also known as NAFTA 2.0). While the text of USMCA remains to be finalized, formally signed and ratified by each of the three countries, a preliminary text of the new requirements has been published on the USTR website. LexSage has published an USMCA Resource Guide with USMCA Chapters, NAFTA Chapters and TPP (not CPTPP) Chapters and comparison tables. Now is the time for auto man
Source: Tax Law Link: The Three Steps of GAAR Please see Vern Krishna’s latest article for the Taxnet Pro: Tax Disputes & Resolution Centre titled, “The Three Steps of GAAR” where he discusses the general anti-avoidance rule as a statutory commercial commercial purpose test. There are two types of tax avoidance; tax mitigation and “abusive” tax avoidance. Parliament enacted GAAR to combat “abusive” tax avoidance. Tax mitigation uses the Westminster principle which allows taxpayers to mitigate their taxes by arranging their affairs in any lawful manner. The GAAR is a statutory commercial purpose test that looks at all of the
Special thanks and acknowledgment to CBC for the image posted, above, of Bill Cosby. So, yesterday I was privileged to appear on the televised CBC National News in Toronto; later on, I also appeared on CBC Radio in Quebec City. The topic was the same; the sentencing hearing of Bill Cosby. The former’s anchor, Andrew Nichols, conducted his typical, substantive interview (a similar interview was conducted by the later radio host). We discussed a range of topics surrounding the sentencing hearing, from the scope of the prison sentence, to the ability of the prison system to care for elderly and infirm inmates, to the denial of post-sentence bond pending appeal (s
Source: Canada US Link: Keeping up with the U.S. imposed 301 tariffs on China For the latest information, check out this posting – China Tariffs – List 3 Finalized and Taking Effect The post Keeping up with the U.S. imposed 301 tariffs on China appeared first on Canada-U.S. Blog.