Summary of Meetings: Taxation Law
Number of Meetings Held: 6
September 27, 2017
Guest Speaker: Ian A. Worland - Principal, Legacy Tax + Trust Lawyers
Meeting Title/Topic: Proposed Changes to the Capital Exemption
Synopsis: Reviewed the changes to the availability of the lifetime capital gains exemption included in the July 18 proposals relating to the taxation of private corporations. Also included a discussion of the transitional rules allowing an election to be made to crystallize the exemption in 2018 and what must be done to take advantage of that opportunity.
October 25, 2017
Guest Speaker: David Christian, Thorsteinssons LLP
Meeting Title/Topic: Draft Legislation on Income Splitting
Synopsis: Reviewed the July 18, 2017 proposals relating to income splitting.
November 08, 2017
Guest Speaker: Michael Coburn, Partner, Fasken Martineau DuMoulin LLP
Meeting Title/Topic: 2017 Update on Stock Options
Synopsis: Reveiwed cases from the Canada Revenue Agency on the taxation of employee stock options and their practical impact on employee (and consultant) equity compensation.
February 21, 2018
Guest Speaker: Max Weder - DLA Piper (Canada) LLP
Meeting Title/Topic: Navigating an Audit on House Flips
Synopsis: Presentation focused on responding to a CRA audit queries and questionnaires, the many issues that can arise for a taxpayer and his or her representative and how certain pitfalls that can be avoided. Audit issues that are raising many reassessments for income tax and GST, often with civil penalties.
March 14, 2018
Guest Speaker: Max Reed, Cross-Border Tax Lawyer, SKL Tax, Co-Author, A Tax Guide for American Citizens in Canada
Meeting Title/Topic: The Implications of US Tax Reform for Canadians
Synopsis: Speaker discussed the significant tax law changes recently passed by US Congress, how they apply to Canadian resident US citizens and companies doing business in the US, and concluded with a summary of planning that needs to be reviewed and new opportunities.
June 06, 2018
Guest Speaker: Matthew W. Turnell - Legal Counsel, Tax Law Services, Department of Justice
Meeting Title/Topic: Settling Tax Disputes
Synopsis: Legal mechanisms of settling tax disputes, the legal limitation of Canada Revenue Agency, types of cases that are good candidates for settlement and some practical tips for the efficient settlement of tax disputes.
Comments and Observations of the Chair