Employee Ownership Trusts – Part 2

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…

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Canada – Budget 2022 Implementation

Bill-19 includes an outright ban on foreign investment in Canadian housing for the next two years, as well as the luxury tax on the sale of new luxury cars and aircraft. It also allows the government to seize…

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Federal Anti-flipping Tax Intended to Cool Housing Prices

The Federal Budget issued on April 7, 2022 proposes that all profits from the sale of residential properties held for less than 12 months would be considered business income. This rule would apply to all properties sold on…

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Employee Ownership Trusts – Canada

Budget 2022 proposes to create the Employee Ownership Trust: a new, dedicated type of trust under the Income Tax Act (Canada), to support employee business ownership in Canada.

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CANADA: Twenty percent Purchase Tax on Luxury Goods

The Canadian federal government has released draft legislation for a new tax on the sale of new luxury cars and aircraft with a retail sale price over CAD$100,000, and new boats over CAD$250,000. The tax will be the…

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Report on the Charities Program 2020 to 2021

If you are involved in the Charity sector, or work for or are engaged in the governance of a Canadian Charity, this report is an invaluable source of Canadian Charity related information.

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Legal Assistant – Downtown Vancouver

We require a legal assistant to assist two lawyers in the areas of corporate / commercial law, intellectual property, and wills and estate planning.

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Registering as a Charity under the Income Tax Act

To be able to issue official donation receipts and to be exempt from taxation, the Income Tax Act requires that corporations created and operated exclusively for charitable purposes register with the Canada Revenue Agency (CRA) as charities. For insight on…

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Landowners – Requirement to file documents in the Land Owner Transparency Registry (LOTR)

Effective November 30, 2020, the Land Owner Transparency Act (British Columbia) (“LOTA”) came into force, introducing certain disclosure obligations regarding beneficial ownership of land in British Columbia.

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BC Foreign Buyer’s Tax is Constitutional

On July 5th, 2021, the British Columbia Court of Appeal ruled that the province’s foreign buyer’s tax is constitutional.

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