Focus On



Friday, September 04, 2020 @ 1:54 PM

When you don’t trust a beneficiary, use a trust protected_money_sm

Setting up a trust during your lifetime — referred to as an inter vivos trust — is an attractive tool for those who are looking to reduce their overall tax bill. Trusts can offer income-splitting advantages by allocating the trust assets’ income and capital gains to the hands of a beneficiary with a lower tax rate. Trusts can also drastically minimize one’s exposure to probate tax upon death. An asset that is held in trust on the date of death of the settlor would not be subject to probate tax (or estate administration tax in Ontario). In Ontario, the current rate is approximately 1.5 per cent, so this probate tax can get quite high depending on the value of the estate. ... [read more]

Friday, September 04, 2020 @ 6:01 AM

FEDERAL INCOME TAX - Administration and enforcement - Offences - Tax evasion

Appeal by Cameron from his conviction for fraud and tax evasion. The appellant was the president, secretary and sole director of Venture Trading Inc. (VTI). VTI raised more than $8 million in investment funds. Most investors lost their entire investment. ... [read more]

Thursday, September 03, 2020 @ 3:45 PM

CRA tweaks policies on meal allowances, expenses

The Canada Revenue Agency (CRA) has changed a number of its provisions on meal allowances and expenses in response to the COVID-19 pandemic. The agency announced Sept. 3 it has increased the amount that employers can use to determine whether an overtime meal or allowance, or the meal portion of a travel allowance, is taxable, from $17 to $23. ... [read more]

Wednesday, September 02, 2020 @ 1:18 PM

Navigating the modern courtroom: Ontario steps up | Karen Heath

In the first two articles in this series, it would be fair to say that my musings on modernizing Canadian courts have carried somewhat of a disparaging tone. It is true, I rode in from The Hague on a high horse, armed with technology best practices from the International Criminal Court I thought were sorely lacking in our justice system. While I do stand by my previous convictions, I offer something different today: a rosier outlook. ... [read more]

Tuesday, September 01, 2020 @ 11:26 AM

Corporate veil and directors’ liability Magnifying glass and calculator

In specified circumstances, the Income Tax Act (ITA) permits the corporate veil to be pierced for tax collection measures. Section 227.1 transposes a corporation’s unpaid tax liability onto its director. Failure of the corporation to remit or withhold source deductions under the ITA can give rise to directors’ liability under s. 227.1. ... [read more]

Tuesday, September 01, 2020 @ 9:37 AM

COVID-19 pandemic brings sea change to law schools as classes shift online Back to Law School image sm

A new school year can often bring apprehension and anxiety for students, as thoughts go through their head of what their next eight months will look like as they walk among the trees and ivy-covered walls of campus. But this year law students are being faced with a new reality — coping with a massive shift to online learning as universities from coast-to-coast continue to adjust to the new realities brought about by the COVID-19 pandemic. ... [read more]

Tuesday, September 01, 2020 @ 8:22 AM

Today’s law firm recruiting takes massive stakeholder co-operation | Julius Melnitzer BTLS

A monumental, pressure-packed collaboration has headed off the threat that COVID-19 presented to the 2020 law firm recruiting season. ... [read more]

Monday, August 31, 2020 @ 8:31 AM

The impact of COVID-19 on Canadian law students | Serena Eshaghurshan btls 320x210

The COVID-19 pandemic has resulted in an unprecedented period of uncertainty and challenges, and law students are not exempt from facing these obstacles. In a time of so much uncertainty, many law students have grappled with remote classes, job scarcity and economic uncertainty. As many JD students prepare to enter the job market, it has become an unfortunate reality that articles are becoming fewer and harder to find. Fortunately, students and law schools are resilient and have proposed alternative learning and employment options to cope with the pandemic. While it has been challenging and overwhelming at times, students know they are not alone and can reach out for guidance and support. ... [read more]

Monday, August 24, 2020 @ 12:02 PM

Conservatives’ impaired approach to Ontario’s liquor laws | Jerry Levitan

Ontario’s liquor policy has sputtered rather than evolved since the post-Prohibition era depending on the government of the day, erupting issues and political considerations. Comparatively and in the relative scheme of things, it did not take that long for a licensing regime to be implemented for the sale and distribution of cannabis. Both substances alter behaviour and cognitive ability. But cannabis, I suppose, is deemed different given that you cannot, as of yet, order a joint or two with your wings and cause problems. ... [read more]

Friday, August 21, 2020 @ 11:56 AM

Redesigned wage subsidy program for July 5 qualifying period and onwards Hand holding money bag

On July 27, Bill C-20, An Act respecting further COVID-19 measures (Bill C-20) received royal assent. Bill C-20 implemented a significantly redesigned Canada Emergency Wage Subsidy (the CEWS) program that, according to the federal government, is intended to “broaden the reach of the program and provide better targeted support so that more workers can return to their jobs quickly as the economy restarts.” ... [read more]