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65th Annual Tax Conference

Metro Toronto Convention Centre

South Building

222 Bremner Boulevard

Sunday, November 24 – Tuesday, November 26

PROFESSIONAL DEVELOPMENT THAT ENGAGES:
Need to fulfill your Ethics/Professionalism credits before the year’s end? 
We've got you covered. 
The below workshop has been accredited by the Law Society of Upper Canada for 3.0 professionalism hours
Workshop K: Dealing with Mistakes in a Tax Practice  
Seats are limited in this workshop. Register early to reserve your seat!

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Demande Attestation

 
 


CONFERENCE TIMETABLE AT A GLANCE
SUNDAY, NOVEMBER 24
EXTRACURRICULAR WORKSHOPS*
*(additional registration fee required, space is limited)

9:30 am -
12:00 pm

  • Workshop A (FULL): Basics of Acquisition Structuring  
  • Workshop B: Introduction to Mining 
  • Workshop C: Limitation-on-Benefits Clauses in Canada's Tax Treaties 
  • Workshop D: Fundamentals of Mutual Fund Taxation 
  • Workshop E (FULL)Foreign Affiliates 
  • Workshop F: Possibilities and Perils of Tax Litigation 
  • Workshop G: Canadian Transfer Pricing: The Basics 
  • Workshop H: A Primer on Partnerships 
  • Workshop  I: Statutory Interpretation 
  • Workshop J: Taxation of Employee Compensation 
9:30 am -
12:30 pm
  • Workshop K: Dealing with Mistakes in a Tax Practice 

1:00 pm -
1:45 pm

Annual General Meeting
Welcome Address
Opening Remarks


PLENARY SESSION

1:45 pm -
3:00 pm

Tax Planning in the Crosshairs 

3:00 pm -
4:00 pm

Tax Planning, Social Responsibility, and Fair Share - Compatible Concepts?  
4:00 pm -
4:30 pm
Refreshment Break
4:30 pm -
5:30 pm

Current Cases

5:20 pm -
5:30 pm

Questions

5:30 pm Adjournment
MONDAY, NOVEMBER 25

CONCURRENT SESSIONS

STREAMS

CORPORATE
TAXATION (CS-1)
 
INTERNATIONAL
TAXATION (CS-2)
OTHER SPECIALIST
AREAS (CS-3)
8:00 am -
9:00 am
Recent Transactions of Interest   Planning Around the Anti-Hybrid Rules in the Canada-US Tax Treaty  Structuring Private Equity, Infrastructure, and Hedge Funds 
9:00 am-
10:00 am
Current Issues for Private Companies, Including Dividend Tax Credit Changes and Integration  Broader Implications of FATCA   Buying and Selling Professional Services 
10:00 am -
10:10 am
Questions Questions Questions
10:10 am -
10:40 am
Refreshment Break
10:40 am -
11:20 am
Corporate Combinations   Foreign Affiliate Reorganizations - Where Are We Now?   Indirect Tax- Key Developments and Hot Topics  
11:20 am -
12:00 pm
Mining Tax Update  U.S Anti-Inversion Rules and Impact on Cross-Border Offerings, Including REITs  Unique Tax-Planning Structures in the Public Sector 
12:00 pm -
12:15 pm
Questions Questions Questions
12:15 pm -
2:00 pm
Lunch

CONCURRENT SESSIONS
STREAMS CORPORATE
TAXATION
(CS-4)
INTERNATIONAL
TAXATION (CS-5)
OTHER SPECIALIST
AREAS
  (CS-6)
2:00 pm -
2:40 pm
Synthetic Dispositions and Character Conversions  Cross-Border Rents and Royalties in the 21st Century Life Insurance Planning After the 2013 Budget 
2:40 pm -
3:20 pm
Eligible Capital Expenditures: Some Practical Issues  Non-Resident Trusts and Offshore Investment Funds - The Long and Winding Road    Tax Accounting: Emerging Issues
3:20 pm -
3:30 pm
Questions Questions Questions
3:30 pm -
4:00 pm
Refreshment Break
4:00 pm -
4:40 pm
A Fresh Look at Tax Clauses in Acquisition Agreements  Reg 102/105 and Cross-Border Compliance Issues   R&D, Government Incentives, and Differences in Provincial Rules   
4:40 pm -
5:20 pm
A Review and Update on 88 (1)(d) Bumps  Recent US Tax Developments   The Role of the Provincial GAARs in Interprovincial Taxation in Canada
5:20 pm -
5:30 pm
Questions Questions Questions
5:30 pm
Adjournment

 

TUESDAY, NOVEMBER 26

CONCURRENT SESSIONS
STREAMS CORPORATE
TAXATION
  (CS-7)
INTERNATIONAL
TAXATION
  (CS-8)
OTHER SPECIALIST
AREAS
  (CS-9)
8:00 am - 
9:00 am
Loss is a Four Letter Word: Policy, Practice and Proposals  Transfer-Pricing Issues and Business Restructuring - BEPS and Impact on Global Planning  Topics in Tax Dispute Resolution 
9:00 am - 
10:00 am
Update on REITs and Investment in Real Estate   Treaty Shopping Review  Judges' Panel - A Discussion of Topical Issues in Tax Litigation 
10:00 am -
10:10 am
Questions Questions Questions
10:10 am -
10:30 am
Refreshment Break

PLENARY SESSION
10:30 am -
10:45 am
A Judicial Update from the Tax Court of Canada 
10:45 am -
11:15 am
Department of Finance Update 
11:15 am -
11:45 am
Canada Revenue Agency Update
11:45 am -
1:00 pm
Round Table Discussion 
1:00 pm -
1:15 pm
Questions
1:15 pm Adjournment

 

          PRELIMINARY PROGRAM

 

SUNDAY MORNING, NOVEMBER 24
EXTRACURRICULAR WORKSHOPS (9:30 am - 12:00 pm)
NOTE: Extracurricular workshops offered on Sunday morning require an additional registration fee. They are not included in the conference registration. Book early! Attendance is limited.
WS-A Basics of Acquisition Structuring - This Workshop is full

  • Assets, shares, or hybrid structures 
  • Pre- and post-acquisition reorganizations 
  • Amalgamations, windups, and bumps
Carlo Chiarot, Ernst & Young LLP, Toronto
Carolyn Hurst, Ernst & Young LLP, Toronto
Matthew Mammola,CPA, CA, Ernst & Young LLP, Toronto

WS-B Introduction to Mining 

This workshop will provide an overview of the income and mining tax concepts applicable to Canadian mining companies at the exploration, development and production phases.  Topics addressed include tax treatment of capital and intangible expenditures, tax credits, financing techniques, provincial mining tax, and structuring of Canadian mining investments.   

Mark Barbour, Thorsteinssons LLP, Toronto
Michael Long, KPMG LLP, Toronto
Kevin Chan, PricewaterhouseCoopers LLP, Toronto

WS-C Limitation-on-Benefits Clauses in Canada's Tax Treaties

The recent attention given to treaty shopping in the 2013 federal budget and more broadly has highlighted the importance of limitation-on-benefits (LOB) clauses in tax treaties. This session will examine the LOB clauses in Canada's treaties, with a particular focus on the detailed provision in the Canada-US treaty.

Christopher Steeves, Fasken Martineau DuMoulin LLP, Toronto
Kevin Yip, Fasken Martineau DuMoulin LLP, Toronto


WS-D Fundamentals of Mutual Fund Taxation

This workshop will provide an overview of common investment fund structures and will address the taxation of the fund and of the investors in the fund.  Case studies will be used to illustrate the considerations in choosing the fund vehicle and taxation of the fund.

Carmela Pallotto, CPA, CA, KPMG LLP, Toronto
Daniel Tworzewski, CPA, CA, KPMG LLP, Toronto
Craig Webster, Borden Ladner Gervais LLP, Toronto

WS-E  Foreign Affiliates - This Workshop is full

A walkthrough of the key foreign affiliate concepts in the Act and Regulations; an exploration of foreign affiliate reorganizations, including section 93 elections, internal share transfers, liquidations, and foreign mergers; and a review of current foreign affiliate issues, including the rules regarding upstream loans, foreign affiliate dumping, and thin capitalization.

Mark Coleman, Couzin Taylor LLP, Calgary
Maria Tatarova, Ernst & Young LLP, Toronto
Jayme Yeung, PricewaterhouseCoopers LLP, Toronto

WS-F  Possibilities and Perils of Tax Litigation 

This workshop will review a selection of current issues in tax litigation. It will examine these issues at key stages of a tax appeal, and the emphasis will be on practical instruction. The workshop will be particularly useful for tax litigators and tax professionals generally interested in litigation.

The Honourable Justice David W. Stratas, Federal Court of Appeal, Ottawa
Wayne Adams, Canadian Tax Foundation, Toronto
Arnold Bornstein, Department of Justice, Toronto
Pooja Samtani, Osler, Hoskin & Harcourt LLP, Toronto

WS-G  Canadian Transfer Pricing: The Basics

This workshop will provide an overview of Canadian transfer-pricing rules and principles. At an introductory level, it will examine the history of transfer-pricing rules in Canada, the role and purpose of the OECD Transfer Pricing Guidelines, the transfer-pricing provisions in the Income Tax Act, emerging Canadian case law on the arm’s-length principle, the transfer pricing audit and assessment process, treaty issues, and the intersection of transfer pricing with other areas of tax practice. The workshop will be particularly useful for young practitioners and tax professionals generally interested in understanding more about transfer pricing.

Amanda Heale, Osler, Hoskin & Harcourt LLP, Toronto
Alex Ho, Canada Revenue Agency, Ottawa
Jeffrey Shafer, Blake, Cassels & Graydon LLP, Toronto

WS-H  A Primer on Partnerships

This workshop will address a selection of topics relating to the tax treatment of partnerships, including the meaning of partnerships, the computation of partnership income, the use of partnerships in tax planning, and certain international tax aspects of partnerships.

Anthony Ampatzis, PricewaterhouseCoopers LLP, Toronto
Daniel Jankovic, Felesky Flynn LLP, Calgary
Genevieve Lille, Wilson & Partners LLP, Toronto
  
WS-I Statutory Interpretation

The workshop will identify the factors to consider in the interpretation of tax legislation, analyze the judicial approaches, and use case examples to demonstrate the application of these principles.   

David Duff, University of British Columbia Faculty of Law, Vancouver
John O’Connor, Stikeman Elliott LLP, Toronto  
WS-J Taxation of Employee Compensation

The tax consequences of the entire compensation package must be carefully considered by employers and employees to avoid unwanted surprises.  This session will consider topics such as:
  • Employee or Independent Contractor
  • Incorporated Employees and Personal Services Businesses
  • Equity and Equity Like Compensation and Benefits

Brett Anderson, Felesky Flynn LLP, Calgary
Elizabeth Boyd, Blake, Cassels & Graydon LLP, Toronto
Anthony Strawson, Felesky Flynn LLP, Calgary 
 
EXTRACURRICULAR WORKSHOP (9:30 am - 12:30 pm)
WS-K Dealing with Mistakes in a Tax Practice  (This workshop has been accredited by the Law Society of Upper Canada for 3.0 professionalism hours)

This workshop will explore the following topics:
  • Dealing with mistakes
  • Rectification
  • Opinions, files, and correspondence
Kimberly Brown, Davies Ward Phillips & Vineberg LLP, Toronto
Heather Evans, Deloitte LLP, Toronto
Olivier Fournier, Davies Ward Phillips & Vineberg LLP, Montréal

   Sunday Luncheon

Sponsored by
MNP LLP
 

 

SUNDAY AFTERNOON, NOVEMBER 24
OPENING SESSION
1:00 pm -
1:45pm
Annual General Meeting
Welcome Address
Opening Remarks
PLENARY SESSION
1:45pm -
3:00 pm
Tax Planning in the Crosshairs

A panel of commentators with experience in various backgrounds, including government, politics, and the media, will examine corporate tax-planning activities and provide a view on the reasonable and unreasonable boundaries of tax planning adopted by businesses to reduce their overall costs. The panel will also discuss the possible consequences for corporations that go beyond the reasonable boundaries accepted by governments and the public. 

Kevin Dancey, FCPA, FCA, President and CEO, CPA Canada, Toronto
David Dodge, OC, Bennett Jones LLP, Former Governor of the Bank of Canada, Former Deputy Minister of Finance, Ottawa
Jeffrey Simpson, National affairs columnist for the Globe and Mail, Ottawa
Robert Wright, former President and CEO of Export Development Canada, and former federal Deputy Minister of Finance

3:00 pm -
4:00 pm
Tax Planning, Social Responsibility, and Fair Share - Compatible Concepts? 

Tax evasion and international tax planning have been the subject of considerable attention in the media, from governments, and in the work of intergovernmental organizations like the OECD. A panel of senior tax practitioners from industry, the professions, and academia will examine the issues and grapple with the underlying question of where reasonable tax minimization ends and socially or politically unacceptable tax avoidance begins. The panel will also consider whether imprecise standards of behaviour, like the indefinable "fair share of taxes," can or should be codified and how political and public reactions to the disclosure of “bad fiscal behaviour” may affect Canadian tax legislation and administration. 


Brian Arnold,
Canadian Tax Foundation, Toronto
Robert Couzin, Couzin Taylor LLP, allied with Ernst & Young LLP, Toronto
Dave Daubaras, General Electric Canada, Mississauga
Eric Solomon, Ernst & Young LLP, Washington, DC

4:00 pm -
4:30 pm

Refreshment Break

Sponsored by
KPMG LLP

4:30 pm -
5:20 pm
Current Cases

A panel of experts with diverse backgrounds will discuss the impact and future applications of the legal principles emerging from recently decided cases from the perspective of both taxpayers and tax authorities.

Moderator: Shawn Porter, Deloitte LLP, Toronto

Elizabeth Chasson, Department of Justice, Toronto
Robin MacKnight, Wilson Vukelich LLP, Markham
Carrie Smit, Goodmans LLP, Toronto

5:20 pm -
5:30 pm
Questions
5:30 pm Adjournment
  Sunday Evening Reception

Join your friends from Dentons at “Dentons Stadium” for food, drinks, and mingling as we celebrate the 101st Grey Cup with a tailgate party.

Sunday, November 24, 2013
5:30 - 8:00 PM


Room 104, Metro Toronto Convention Centre
(North Building, Level 100)


Celebrating the 65th Anniversary of the Canadian Tax Foundation Annual Conference!


Hosted by
Dentons Canada LLP


 

MONDAY MORNING, NOVEMBER 25

Breakfast
(7:00 am - 8:00 am)

Hosted by
PricewaterhouseCoopers LLP


CONCURRENT SESSION (CS-1)
CORPORATE TAXATION
8:00 am - 12:15 pm
8:00 am - 9:00 am

Recent Transactions of Interest

This session will cover the impact of foreign affiliate dumping, synthetic disposition, and character conversion rules on acquisition structuring and acquiring a foreign entity with substantial Canadian operations.

Alycia Calvert, Ernst & Young LLP, Toronto
Ron Mar, McCarthy Tétrault LLP, Calgary

9:00 am - 10:00 am

Current Issues for Private Companies, Including Dividend Tax Credit Changes and Integration

This session will examine the key developments that have arisen in the past year affecting private companies, including the MacDonald case on subsection 84(2) and its impact on post-mortem and other dividend versus capital gain tax planning. The session will also review the recent changes affecting the taxation of dividends and the impact on integration.

Bruce Ball, FCPA, FCA, BDO Canada LLP, Toronto
Paul Bleiwas, Dentons Canada LLP, Toronto

10:00 am - 10:10 am Questions
10:10 am - 10:40 am Refreshment Break
10:40 am - 11:20 am

Corporate Combinations

An update on recent developments on issues surrounding corporate combinations (amalgamations and windups), including an examination of the Envision case and a review of the December 2012 amendments to the bump rules.  The written materials will include an update of the checklist presented at the 2000 Annual Tax Conference.

Anu Nijhawan, Bennett Jones LLP, Calgary
Gabrielle Richards, McCarthy Tétrault LLP, Toronto

11:20 am - 12:00 pm

Mining Tax Update

This session will cover a number of recent developments affecting the mining industry, including

  • the federal budget (changes to CEE and CCA, 20(1)(m), synthetic dispositions re metal streams, etc.)
  • Quebec Mining Tax
  • PPMEs for depreciable property
  • resource nationalism (domestic and foreign – summary of key changes and view on where things are going)

Michael Colborne, Thorsteinssons LLP, Toronto
Lana Paton, CPA, CA, PricewaterhouseCoopers LLP, Toronto
12:00 pm - 12:15 pm Questions
12:30 am - 2:00 pm Lunch
CONCURRENT SESSION (CS-2)
INTERNATIONAL TAXATION
8:00 am - 12:15 pm
8:00 am - 9:00 am

Planning Around the Anti-Hybrid Rules in the Canada-US Tax Treaty

This session will discuss investing in both Canada and the US through hybrid entitles (including through ULCs and LLCs) and planning to avoid the application of the anti-hybrid rules in the Canada-US tax treaty.

Corrado Cardarelli, Torys LLP, Toronto
Peter Keenan, Torys LLP, New York

9:00 am - 10:00 am

Broader Implications of FATCA

This session will examine a variety of issues including 

  • an update regarding status of FATCA and G20 proposals for information exchange
  • the significance of Intergovernmental Agreements
  • the obligations of Canadian “financial institutions," including a discussion of practical issues 
Nigel Johnston, McCarthy Tétrault LLP, Toronto
Debbie Pearl-Weinberg, CIBC, Toronto
Jillian Nicholson, Ernst & Young LLP, Toronto
Aryeh Snitman, CIBC, Toronto
10:00 am - 10:10 am Questions
10:10 am - 10:40 am Refreshment Break
10:40 am - 11:20 am

Foreign Affiliate Reorganizations - Where Are We Now?

This session will take a static and comparative look at the provisions and will discuss the role of domestic reorganization provisions that apply in the FA context (e.g., sections 51 and 86). It will also look at specific reorganization transactions that might be undertaken to unwind debt-dumping structures or deal with upstream loan rules.

Ken Buttenham, CPA, CA, PricewaterhouseCoopers LLP, Toronto
Heather O'Hagan, CPA, CA, KPMG LLP, Toronto

11:20 am - 12:00 pm

US Anti-Inversion Rules and Impact on Cross-Border Offerings, Including REITs

Close to $7 billion of new debt and equity was issued in the real estate capital markets in 2012, making it a record-breaking year for REIT activity, and 2013 shows little signs of letting up with an even higher proportion of real estate issuances relative to total equity raised in capital markets. A more recent trend within the REIT surge has seen the IPO of TSX-listed REITs formed to acquire and invest in foreign real estate, including in particular in the United States.  These “cross-border REITs” have come in various shapes and sizes, ranging from mutual fund trusts to publicly traded partnerships, with complex holding structures designed to balance commercial and market objectives with tax efficiencies. Issues faced include REIT qualification under Canadian and US tax laws, the structural impact of US anti-inversion rules on an IPO, FIRPTA classification, withholding tax rates and treaty issues, including ant-hybrid rules, access to foreign tax credits, and various other structural issues. This session will examine and discuss the significant Canadian and foreign tax aspects of the REIT structures in use. 

Abraham Leitner, Davies Ward Phillips & Vineberg LLP, New York
Jon Northup, Goodmans LLP, Toronto

12:00 pm - 12:15 pm Questions
12:15 pm - 2:00 pm Lunch
  Monday Morning
Refreshment Break

Sponsored by
Felesky Flynn LLP

 

CONCURRENT SESSION (CS-3)
OTHER SPECIALIST AREAS
8:00 am - 12:15 pm
8:00 am - 9:00 am

Structuring Private Equity, Infrastructure, and Hedge Funds

This session will address fundamental, and some current and more subtle, issues in structuring private equity, infrastructure, and hedge funds and their investments, both upstream and downstream, and the similarities and differences among them, with a focus on cross-border issues, including

  •  the use of blocker entities
  •  issues relating to feeder funds
  •  treaty issues, particularly for tax-exempt investors
  • US-specific issues, such as ECI, FIRPTA, and issues for 892 investors
 

Jocelyn Blanchet , CPA, CA, KPMG LLP, Toronto
Neil Marcovitz, Northleaf Capital Partners, Toronto
Timothy Wach, Gowling Lafleur Henderson LLP, Toronto

9:00 am - 10:00 am

Buying and Selling Professional Services

The panel will explore considerations when professional services are either procured or provided. The sell side will cover the five S’s of the sale, while the buyers' side will cover how to recognize the five S’s and how not to fall victim to unnecessary spending.  The panel will explore practical ways of measuring value and explain the symbiotic relationship between tax departments, tax authorities, and tax advisers as it relates to the triangle of certainty represented by the dimensions of facts, skill, and time.  It will also examine the difference between a tax opinion and tax guidance or advice and explore the circumstances and considerations where a tax opinion is required. Fee arrangements will also be discussed, including contingent fees and the information that the government did or did not learn from its study of contingent R&D fees. If time permits, the panel will also discuss the role of privilege in obtaining professional advice and  Sarbanes-Oxley consideration in buying services from auditors. 

Moderator: Nick Pantaleo, FCPA, FCA, Rogers Communications, Toronto

David Allgood, Royal Bank of Canada, Toronto
Peter Corcoran, Deloitte LLP, Toronto
Michael O'Connor, CPA, CA, Sun Life Financial Inc., Toronto

10:00 am - 10:10 am Questions
10:10 am - 10:40 am Refreshment Break
10:40 am - 11:20 am

Indirect Tax - Key Developments and Hot Topics

This session will deal with a number of recent developments and hot topics relating to indirect taxes, including

  • British Columbia’s return to the GST/PST system
  • pension plan rules amendments - impact for 2013
  • new GST rules for financial institutions, specifically the final regulations that were issues on May 2013 and the impact of the discussion points from the January 2011 regulations being issued
  • GST /HST hot topics in the public sector


Sania Ilahi, Ernst & Young LLP, Toronto
Henry Visser, CA, McInnes Cooper, Halifax

11:20 am - 12:00 pm

Unique Tax-Planning Structures in the Public Sector

With the need and desire to increase funding streams from non-traditional sources, entities within the public sector (NPOs, registered charities, and public institutions) face greater scrutiny from tax authorities on the income tax exemptions and GST/HST/PST impact on various arrangements they have entered into. This session will outline some of the unique structures that organizations in the public sector have considered in planning their affairs in order to maintain tax efficiency for both income tax and indirect tax purposes. This session will be of particular interest to boards of directors for these entities who are finding these issues becoming more prevalent in their roles and in the organizations.

Brad Thorimbert, KPMG LLP, Saskatoon
Barry Travers, FCA, KPMG LLP, Edmonton

12:00 pm - 12:15 pm Questions
12:15 pm - 2:00 pm Lunch
   Monday Luncheon

Special Guest Speaker:

Don Drummond
Former senior vice president and chief economist of TD Financial Group


Hosted by
Thomson Reuters and McCarthy Tétrault LLP

 

 

MONDAY AFTERNOON, NOVEMBER 25
CONCURRENT SESSION (CS-4)
CORPORATE TAXATION
2:00 pm - 5:30 pm
2:00 pm - 2:40 pm

Synthetic Dispositions and Character Conversions

The federal budget provides a number of interesting topics for the investment industry. This session will examine the impact of the character conversion rules on the mutual fund industry and their wider impact on other commercial transactions.  It will also examine the impact of the proposed synthetic disposition rules on securities transactions. Both of these changes may have broader than intended implications for other transactions not expected to be caught by the proposed rules.

Matias Milet, Osler, Hoskin & Harcourt LLP, Toronto
Edward Miller, Blake, Cassels & Graydon LLP, Toronto

2:40 pm - 3:20 pm Eligible Capital Expenditures: Some Practical Issues

This session will deal with various practical issues relating to ECE, including circularity issues involving capital property vs. eligible capital property, circularity issues involving section 14 and, 12(1)(x), implications of the Saskatchewan Potash decision with respect to expenses incurred by the parent in connection with restructuring of lower-tier subsidiaries, whether a deemed cost qualifies as an "expense or outlay incurred," and the paragraph 14(1)(b) year-end trap.

Thomas Bauer, Bennett Jones LLP, Toronto
Michael R. Smith, Deloitte LLP, Calgary

3:20 pm - 3:30 pm Questions
3:30 pm - 4:00 pm
Refreshment Break
4:00 pm - 4:40 pm

A Fresh Look at Tax Clauses in Acquisition Agreements

There are a plethora of tax clauses, phrases, and expressions that find their way into various legal agreements. This session will review important tax language that should be included in various domestic and cross-border legal agreements and provide model wording that will achieve the intended objectives. Wording for indemnities clauses, restrictive covenant provisions, asset purchase agreements, partnership agreements, and agreements with international dimensions will be examined.

Daniel Lang, Borden Ladner Gervais LLP, Toronto
Mark Woltersdorf, CPA, CA, Dentons Canada LLP, Edmonton

4:40 pm - 5:20 pm

A Review and Update on Paragraph 88 (1)(d) Bumps

This session will review and discuss the latest developments relating to the bump rules, including recent CRA statements and rulings and the amendments included in the December 21, 2012 draft technical legislation, with reference to issues that typically arise in M&A transactions.

Paul Stepak, Blake, Cassels & Graydon LLP, Toronto
Eric Xiao, CPA, CA,
Ernst & Young LLP, Toronto

5:20 pm - 5:30 pm
Questions
5:30 pm Adjournment
CONCURRENT SESSION (CS-5)
INTERNATIONAL TAXATION
2:00 pm - 5:30 pm
2:00 pm - 2:40 pm

Cross-Border Rents and Royalties in the 21st Century

This session will explore the parameters and limits of para. 212(1)(d) of the ITA and related statutory and treaty provisions, with a particular emphasis on (a) license and royalty arrangements, (b) services and benefits-based consideration, and (c) the realities of e-commerce. It will also examine some customs considerations and international trends associated with royalties.

Peter Jovicic, Blackberry Limited, Waterloo
Jaime Seidner, Dentons Canada LLP, Toronto
Martin Sorensen, Bennett Jones LLP, Toronto

2:40 pm - 3:20 pm

Non-Resident Trusts and Offshore Investment Funds - The Long and Winding Road 

After more than a decade of uncertainty, the new NRT rules are now law. This session will survey the final rules, highlight the main changes from the August 27, 2010 proposals, and outline the complex transitional provisions that give the rules retroactive effect. Among other things, the session will discuss the details of the resident portion trust and the non-resident portion trust. In addition to personal trusts, the exemption for commercial trusts and difficulties applying the new rules will be addressed. Finally, the taxation of investments in offshore investment funds under new section 94.1 will be touched on.

Bruce Harris, FCPA, FCA, PricewaterhouseCoopers LLP, Toronto
Angela M. Ross, PricewaterhouseCoopers LLP, Toronto
3:20 pm - 3:30 pm Questions
3:30 pm - 4:00 pm
Refreshment Break
4:00 pm - 4:40 pm Reg 102/105 and Cross-Border Compliance Issues

  • Penalties for non-compliance
  • Withholding
  • Personal compliance issues


Natasha Miklaucic, Borden Ladner Gervais LLP, Toronto
Lorna Sinclair, Deloitte LLP, Toronto

4:40 pm - 5:20 pm

Recent US Tax Developments

This session will discuss important US tax developments, including final regulations under IRC section 336(e) (i.e., sales of stock being treated as asset sales and opportunities for basis step-ups), final regulations under IRC section 367 (i.e., transfers of property by a domestic corporation to a foreign corporation in outbound reorganizations), and an update on FATCA.


Patrick Fenn, Akin Gump Strauss Hauer & Feld LLP, New York
Elaine Murphy, Ropes & Gray LLP, Boston

5:20 pm - 5:30 pm Questions
5:30 pm Adjournment
CONCURRENT SESSION (CS-6)
OTHER SPECIALIST AREAS
2:00 pm - 5:30 pm
2:00 pm - 2:40 pm

Life Insurance Planning After the 2013 Budget

The 2013 budget included a number of changes that had an impact on insurance products. This session will explore the historical path to the elimination of the "10/8" and LILA insurance products.  It will discuss the impact of the proposed measures on participants in these products and will also examine insurance products that may provide alternative coverage and investment options.

Hemant Tilak, Osler, Hoskin & Harcourt LLP, Toronto
Peter Everett, PPI, Toronto

2:40 pm - 3:20 pm

Tax Accounting: Emerging Issues

  • definition and issues of equity and impact on thin cap
  • tax accounting implications of foreign affiliate changes in Bill C-48


Arthur Driedger, CPA, CA, Deloitte LLP, Toronto
Pam Zabarylo, CPA, CA, KPMG LLP, Toronto

3:20 pm - 3:30 pm Questions
3:30 pm - 4:00 pm Refreshment Break
4:00 pm - 4:40 pm

R&D, Government Incentives, and Differences in Provincial Rules 

The landscape for innovation and R&D is in transformation in Canada and abroad; this presentation will benchmark Canada, analyze best practices, as well as provide a more detailed view of incentives in competing countries to compare economic results and the underlying tax policy. The session will also explore  a number of current R&D tax issues in Canada.

Natan Aronshtam, Deloitte LLP, North York
Albert De Luca, FCPA, FCA, Deloitte LLP, Montreal

4:40 pm - 5:20 pm

The Role of the Provincial GAARs in Interprovincial Taxation in Canada

This presentation will discuss the role of the Provincial GAARs in interprovincial taxation in Canada by reviewing the recent cases involving Provincial GAARs, attempting to reconcile the jurisprudence and considering the Provincial GAARs in the context of example structures involving related corporations with permanent establishments in different provinces.

Marc Darmo, Farris, Vaughan, Wills & Murphy LLP, Vancouver
Janette Pantry, CPA, CA, Blake, Cassels & Graydon LLP, Vancouver

5:20 pm - 5:30 pm Questions
5:30 pm Adjournment
  Monday Afternoon
Refreshment Break

Sponsored by
Blake, Cassels & Graydon LLP


  Reception

Hosted by
Osler, Hoskin & Harcourt LLP

Please join Osler, Hoskin & Harcourt LLP for cocktails, hors d’oeuvres, and music at their annual reception on Monday, November 25.  

This year’s event will take place at the Royal Conservatory of Music from 6:00 to 8:00 p.m. 

***

Nightcap Reception

Hosted by
Bennett Jones LLP

The Canadian Tax Foundation's Annual Conference is 65
Join us for a celebratory nightcap
...It's just too early to retire


Monday, November 25, 2013
8:30 pm - Midnight

Library Bar - The Fairmont Royal York Hotel
100 Front Street West

 

 

TUESDAY MORNING, NOVEMBER 26

Breakfast
(6:30 am – 8:00 am)

Hosted by
Thorsteinssons LLP

 
CONCURRENT SESSION (CS-7)
CORPORATE TAXATION
8:00 am – 10:10 am
8:00 am - 
9:00 am
Loss is a Four Letter Word: Policy, Practice, and Proposals

The 2013 Budget contained a number of proposals that affect loss utilization strategies, including new anti-avoidance rules for “trading” in tax losses and other tax attributes as well as the announcement that a system of corporate group taxation will not be implemented. This session will review selected legislative, administrative, and judicial developments on loss utilization strategies, including
  • the CRA “tech wreck” project and recent CRA challenges of loss utilization transactions
  • proposed legislation dealing with loss and tax attribute “trading” for corporations and trusts
  • post-Budget 2013 loss utilization strategies involving a third-party Lossco or Losstrust
  • current CRA policies and effective strategies for corporate group loss consolidations

John Burghardt, CPA, CA,
Felesky Flynn LLP, Calgary

Sarah Chiu, Felesky Flynn LLP, Calgary

9:00 am -
10:00 am

Update on REITs and Investment in Real Estate

This session will provide an update on developments with respect to the Canadian REIT regime under the ITA, and discuss the issues and developments with respect to structuring public vehicles for investment in foreign real estate.

Dean Kraus, Stikeman Elliott LLP, Toronto
Lorne Shillinger, CPA, CA, KPMG LLP, Toronto
John Ulmer, Davies Ward Phillips & Vineberg LLP, Toronto

10:00 am - 
10:10 am
Questions
10:10 am - 
10:30 am
Refreshment Break
CONCURRENT SESSION (CS-8)
INTERNATIONAL TAXATION
8:00 am – 10:10 am
8:00 am -
9:00 am
Transfer-Pricing Issues and Business Restructuring - BEPS and Impact on Global Planning

The increased focus on cross-border tax planning by the OECD and G20 governments has significant implications for the determination of fair and reasonable transfer prices.  This session will discuss the OECD’s focus on BEPS and transfer pricing and  the implications for business model restructuring of a multinational organization. Commentators will endeavour to reconcile and/or differentiate tax-driven arrangements from acceptable business restructuring to achieve tax optimization.  In this context the relevance and impact of "social responsibility" and “fair share of taxes” will also be discussed. 

Elisabeth Finch, PricewaterhouseCoopers LLP, Vancouver
David Francescucci, KPMG LLP, Montreal
Dale Hill, Gowling Lafleur Henderson LLP, Ottawa

9:00 am -
10:00 am

Treaty Shopping Review

This session will include a review of the possible approaches that Canada might adopt by looking at tactics used by other jurisdictions. This will include a look at the Canadian consultation paper released by Finance on August 12, 2013 and publicly available responses to that paper.

Jack Bernstein, Aird & Berlis LLP, Toronto
Ron Durand, Stikeman Elliott LLP, Toronto
Patrick Marley, Osler, Hoskin & Harcourt LLP, Toronto

10:00 am - 
10:10 am

Questions

10:10 am - 
10:30 am
Refreshment Break
CONCURRENT SESSION (CS-9)
OTHER SPECIALIST AREAS
8:00 am – 10:10 am
8:00 am -
9:00 am

Topics in Tax Dispute Resolution

At this session, a panel of practitioners will discuss some or all of the following topics:

  • Bill C-48 – reportable transactions and the Quebec aggressive tax-planning regime
  • Budget 2013 comments on non-compliance and related audit and enforcement programs and CRA organizational changes
  • the scope of new CRA audits
  • use of requests and requirement to comply
  • keeping of books and records
  • CRA views on and approaches to auditing aggressive tax strategies
  • the use of civil penalties
  • education letters and compliance letters
  • the CRA’s selection and review of large case files in the public sector

David Chodikoff, Miller Thomson LLP, Toronto
Mark Jadd, Heenan Blaikie LLP, Toronto
Wilfred Lefebvre, QC, Norton Rose Fulbright Canada LLP, Montreal
Marc Vanasse, CPA, CA, PricewaterhouseCoopers LLP, Ottawa

9:00 am -
10:00 am

Judges' Panel - A Discussion of Topical Issues in Tax Litigation

This session will cover topical issues in Canadian tax litigation that are of general relevance to tax practitioners. Key topics include

  • the evolving and complex interplay of tax and morality
  • judicial reaction to shifting views on the legitimacy of tax planning
  • current perspectives on the status of the general anti-avoidance rule
  • civil suits and class actions in the tax context
  • changes to the Tax Court’s procedural rules contained in Bill C-60

The 30th anniversary of the Tax Court was celebrated earlier this year in Ottawa. This session at the Annual Conference will also provide an opportunity for a brief retrospective and an opportunity to look ahead at the challenges that court expects to encounter in its next 30 years.

Justice Marshall Rothstein, Supreme Court of Canada, Ottawa
Justice Wyman Webb, Federal Court of Appeal, Ottawa
Justice Frank J. Pizzitelli, Tax Court of Canada, Ottawa
Alexandra Brown, Laishley Reed LLP, Toronto
Matthew Williams, Thorsteinssons LLP, Toronto

10:00 am - 
10:10 am

Questions

10:10 am - 
10:30 am
Refreshment Break
  Tuesday Morning
Refreshment Break

Sponsored by
Deloitte LLP



PLENARY SESSION
10:30 am -
10:45 am
A Judicial Update from the Tax Court of Canada

Chief Justice Gerald Rip, Tax Court of Canada, Ottawa

10:45 am -
11:15 am
Department of Finance Update

Brian Ernewein, General Director (Legislation), Tax Policy Branch, Department of Finance, Ottawa

11:15 am -
11:45 am
Canada Revenue Agency Update

Andrew Treusch, Commissioner of Revenue, Canada Revenue Agency, Ottawa

11:45 am -
1:00 pm

Round Table Discussion

Randy Hewlett, Director, Income Tax Rulings, Canada Revenue Agency, Ottawa
Elio Luongo, FCPA, FCA, KPMG LLP, Toronto
Jeff Sadrian, Director, Compliance Programs Branch, Canada Revenue Agency, Ottawa
Mark Symes, CPA, CA, Director, Income Tax Rulings, Canada Revenue Agency, Ottawa
John Tobin, Torys LLP, Toronto

1:00 pm -
1:15 pm
Questions
1:15 pm Adjournment
 
Program subject to change. Please check back frequently for the most up-to-date version.

 

 

Program Committee

 

Tony Ancimer    
Deloitte LLP, Toronto
Bruce Ball, FCPA, FCA
BDO Canada LLP, Toronto
Neil Bass
Dentons Canada LLP, Toronto
Catherine Brayley*
Bennett Jones LLP, Toronto
Alycia Calvert    
Ernst & Young LLP, Toronto
Ron Choudhury    
Aird & Berlis LLP, Toronto
Marlene Cepparo    
KPMG LLP, Toronto
Raj Juneja    
Davies Ward Phillips & Vineberg LLP, Toronto
Dean Kraus    
Stikeman Elliott LLP, Toronto
Robin MacKnight    
Wilson Vukelich LLP, Toronto
Michael O'Connor*    
Sun Life Financial, Toronto
Lana Paton    
PricewaterhouseCoopers LLP, Toronto
Gabrielle Richards*    
McCarthy Tétrault LLP, Toronto
Pooja Samtani*    
Osler, Hoskin & Harcourt LLP, Toronto
John Tobin    
Torys LLP, Toronto
Jeffrey Trossman    
Blake, Cassels & Graydon LLP, Toronto
Timothy Wach
Gowling Lafleur Henderson LLP, Toronto
Craig Webster    
Borden Ladner Gervais LLP, Toronto
Brandon Wiener    
Thorsteinssons LLP, Toronto
 

* Governor, Canadian Tax Foundation

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Registration Fees

   Member Non-member
Early Bird (registration received and paid on or before November 1) 
$ 1045
$1495* 
Regular (after November 1st)
$ 1245
$ 1495
Young Practitioner (Individuals who have been in practice for up to 10 years)
$ 795
$ 995
Full-time Government Employee
$845
$995
Full-time Academic  $325 $325
Full-time Student  $100 $100
Conference Binder   $50 $50
Extracurricular Workshops   $125  $125
     
* Non-members: Become a member before October 25 and save $100 by taking advantage of the early bird member fee. Membership + early bird fee is $1395.
Notes:
(1) All conference registrations include electronic access to conference materials on the CTF website and the CTF Conference App as they become available. Conference binder is not included in registration fee. Please order the binder when registering.
(2) Registrations cannot be processed unless accompanied by payment.
(3) Taxes do not apply to our registration fees. 

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Accreditation

   
 
    
 
           

Alberta

Alberta lawyers, consider including this course as a CPD learning activity in your mandatory annual Continuing Professional Development Plan as required by the Law Society of Alberta.

British Columbia

The Annual Tax Conference has been pre-approved for up to 18 hours of professional development by the Law Society of British Columbia.

Ontario

This program is eligible for up to 18 substantive hours. Only Workshop K has been accredited by the Law Society of Upper Canada for 3.0 professionalism hours.
 

Quebec

Formation reconnue par le Barreau du Québec aux fins du Règlement sur la formation continue obligatoire des avocats pour une durée de 18 heures. 

This program has been recognized for up to 18 hours of professional development by the Barreau du Québec.

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Hotel Accommodation

Out-of-town registrants should make their hotel reservations directly with the one of the hotels below. Each hotel is holding a block of rooms for registrants on a first-come, first-served basis. To access the special discounted rates, please identify yourself as a member of the Canadian Tax Foundation 2013 Annual Conference.

         
 
 Fairmont Royal York
 
Intercontinental Hotel
 
Toll-Free Number


1-800-663-7229

 
**Delegate block at this hotel is now FULL.


Hotel Direct Phone
416-368-2511 
 
 

 
 
Online Reservations
Click this link for the Canadian Tax Foundation special rate.
 
 

 
 
Maps & Directions
100 Front Street West
 
225 Front Street West
 
 

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Substitution/Cancellation

If you are unable to attend the conference, your registration may be transferred to another individual. Please submit the name of the substituted delegate to Conferences@ctf.ca  up to three business days prior to the start of the conference. After that, the substitution will be accepted only at the conference site. If substitution is not an option, written notice of cancellation will be accepted by the Conference Department until Friday, November 15, 2013.  Individuals who cancel their registration prior to this deadline will receive a refund, less a $125 administration fee, at the conclusion of the conference.  We regret that we cannot issue refunds for notices of cancellation received after this deadline.

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7/30/2014 7:10:58 PM