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Introduction Under new Canadian legislation, bare trust arrangements are now subject to the filing requirements of a T3 Trust Income Tax and Information Return, where they previously were not required to. This new legislation applies to trusts with…
Amendments to the Strata Property Act will end all strata rental-restriction bylaws, limit age-restriction bylaws, and add Provincial and City tax costs to strata owners.
Trust reporting rules apply only to taxation years that end after December 30, 2023
General Partnerships and Limited Liability Partnerships (“LLPs”) General partnerships and LLPs with a First Nations partner(s) who is / are eligible to make exempt purchases on First Nations land, are entitled to an exemption for their purchases on…
On June 1, 2022, Bill 96 An Act respecting French, the official common language of Quebec (the “Act”) came into force in Quebec. The Act brings modifications to the Charter of French Language (the “Charter”), which will impact…
With the increasing interest in buying and selling Non-Fungible Tokens (“NFTs”), one important question arises: Do you have to pay taxes on NFTs? Canadian law is pretty clear here. Read on to learn more about if and how…
When we assist clients in estate planning (e.g., often including the preparation of a last will and testament, a representation agreement, an inter vivos trust, and an enduring power of attorney), many questions arise and many issues need…
A glosary of commonly Used Non-Fungible Token (“NFT”) Terms
In our April 22, 2022 blog post, we discussed the Canadian Budget 2022 announcement, regarding the introduction of a new special purpose trust, the “Employee Ownership Trust”, under the Income Tax Act (Canada), to encourage employee ownership of…
ChatGPT and the World of Law
One wonders if there is ever a moment when the internet is devoid, in one form or another, of hype and hysteria over a new video, song, software, thought, controversy or challenge (N.B. think bitcoin, the Kardashians, NFTs,…