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...
View ArticleCommonly Used Non-Fungible Token (“NFT”) Terms
1:1 Art A unique NFT art piece that only exists in one edition. Airdrop New NFTs or cryptocurrencies that are automatically sent to your wallet for free. This is a common practice in the crypto space...
View ArticleNFTs and the Law
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),...
View ArticleThe Taxation of NFTs in Canada
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...
View ArticleBill 96 and The Use of Non-French Trademarks in Quebec
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...
View ArticlePartnerships Involving First Nations – PST Issues
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...
View ArticleNew Trust Reporting Rules Delayed
Canada’s federal finance ministry has tabled draft legislation proposing that the new trust reporting rules are delayed by a further year and apply only to taxation years that end after December 30,...
View ArticleBC Ends Rental and Age Restrictions for Strata Properties (Updated)
On November 21, 2022 the Government of B.C. announced changes to legislation that will remove rental restrictions in strata properties and introduced the new Housing Supply Act, which will provide...
View ArticleChatGPT 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,...
View ArticleNew Bare Trust T3 Filing Obligations
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...
View Article
