Tax Issues for Commercial Practitioners 2021
Course Date: October 13, 2021
Total: 5h 27min
Total Ethics: 1h 6min
Course Date: October 13, 2021
Welcome and Land Acknowledgement (9:00 – 9:10)
Ian Humphries — Thorsteinssons LLP, Vancouver
Private Company Tax Planning Update (9:10 – 10:10)
- intergenerational transfers of business
- M&A trends and topics
Asif N. Abdulla — Thorsteinssons LLP, Vancouver
BREAK (10:10 – 10:20)
GST, PST, and Property Tax Transfer Tax Update (10:20 – 11:10)
- extended registration rules for non-resident and marketplace facilitators/platform operators (GST and PST)
- other changes in legislation and jurisprudence, including update on holding company rules and GST treatment of cryptocurrency (GST)
- current audit issues (GST, PST, and property transfer tax)
Terry G. Barnett — Thorsteinssons LLP, Vancouver
Zheting Su — Thorsteinssons LLP, Vancouver
BREAK (11:10 – 11:25)
Domestic Trust Update (11:25 – 12:25)
- review of key concepts
- use of discretionary trusts in estate planning
- reporting update
- tips and traps
Kate Marples — KPMG Law LLP, Vancouver
LUNCH BREAK (12:25 – 1:25)
2021 Federal Budget and New Stock Option Rules (1:25 – 1:50)
- good news
- business opportunities
- restructuring opportunities
- building up the CRA arsenal
- new stock option rules
Danielle Lewchuk — Borden Ladner Gervais LLP, Vancouver
US Tax Update for the Canadian Practitioner (1:50 – 2:50)
- identifying US taxpayers and the consequences of US tax status on owning Canadian corporations
- the basics of US federal tax for Canadian businesses expanding to the US
- an overview of US state income and sales tax rules
Charmaine Ko — Polaris Tax Counsel, Vancouver
Max Reed — Polaris Tax Counsel, Vancouver
BREAK (2:50 – 3:05)
Criminal Risks in Tax Matters and Associated Ethical Issues (3:05 – 3:55)
- the CRA's powers to investigate criminal tax evasion
- how an audit can lead to a criminal investigation and prosecution
- protecting advisor and client interests in high-risk situations
Greg P. DelBigio, QC — Thorsteinssons LLP, Vancouver
Jennifer Flood — Thorsteinssons LLP, Vancouver
Closing Questions and Comments (3:55 – 4:00)
Ian Humphries — Thorsteinssons LLP, Vancouver
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Slides: Private Company Planning Update
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Paper: An Overview of Trust Issues Relevant to Commercial Practitioners
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Handout: Federal Budget 2021 – Spending on the Three C’s: COVID, Childcare and Climate Change
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