2011
British Columbia Tax Conference

Keeping Tax Practitioners Informed

Monday and Tuesday, September 26-27, 2011

The Vancouver Convention Centre
1055 Canada Place, Vancouver

[Fees] [Cancellation]
[Program Committee]
[Hotel Accommodation]

**Please register on-site Monday morning**

The British Columbia Tax Conference has been pre-approved for professional development purposes by the Law Society of British Columbia. This includes 1.25 hours of CPD pertaining to professional responsibility and ethics (The Professional Ethics panel on Tuesday afternoon).

Renew your acquaintances, create new alliances with other tax professionals and government officials, and benefit from great networking opportunities.

Program
Monday, September 26, 2011
7:00 am - 8:00 am
Breakfast
Sponsored by
Koffman Kalef



8:00 am - 8:15 am Opening Remarks
8:15 am - 9:00 am Current Issues Forum

This session will review recent legislative and administrative developments in federal and provincial tax law.

Amanjit Lidder, CA - MNP LLP (Surrey)
Christopher Falk - McCarthy Tétrault (Vancouver)

9:00 am - 9:45 am

Current Cases

A review of recent decisions from the Tax Court, the Federal Court and the Supreme Court that impact on owner managed businesses and private companies.

David Graham - Koffman Kalef (Vancouver)
David Everett - Department of Justice (Vancouver)

9:45 am - 9:55 am Questions
9:55 am - 10:15 am
Refreshment break

Sponsored by
Blake, Cassels & Graydon LLP

10:15 am - 10:50 am

Top Five Issues in Dealing With Clients with US Operations

  • Services PE;
  • State and local nexus concerns;
  • FIRPTA;
  • FATCA for non-financial institutions;
  • Disclosure of uncertain tax positions on US returns;
  • Codification of Economic Substance

Nelson Brooks - Ernst & Young (Vancouver)
Torsdon D. Poon - Ernst & Young (Washington, DC)

10:50 am - 11:30 am

Tax Issues for First Nations

This session will provide an update on income and commodity tax issues encountered by First Nations businesses and individuals.

BUSINESS STRUCTURES

  • Choice of structure and Income Tax Act ememptions
  • Legal personality issues
  • Financings
  • Related non-tax issues
  • Tax issues related to accomodation agreements and impact benefit agreements between business and First Nations

TAX ISSUES RELATED TO MODERN TREATIES

  • Effect on Section 87 of the Indian Act
  • First Nation's taxing authority
  • Special treaty exemptions from income tax

HST AND FIRST NATIONS GST (FNGST)

  • Interaction of Excise Tax Act and FNGST
  • Updated CRA policy (pending) on bands and band-empowered entities

UPDATE ON SECTION 87 AND INDIVIDUALS

  • Recent developments in the case law
  • Employees versus independent contractors

CULTURAL ISSUES

  • Interaction of cultural obligations of traditional leaders with the Income Tax Act

Michael Welters - Bull Housser & Tupper (Vancouver)

11:30 am -11:45 am Questions
11:45 am - 1:45 pm
Lunch

Guest Speaker:
Dr. Karyn Gordon – Understanding and Motivating Gen Y 


 Dr. Karyn Gordon is one of North America's leading authorities on understanding and motivating Generation Y. She is frequently interviewed by national media (Globe & Mail, National Post, City Line, Breakfast Television) and speaks to various groups to provide insight into connecting and motivating Generation Y.

Sponsored by
McCarthy Tétrault LLP

1:45 pm - 2:20 pm

CRA's Reach for Information 

  • How broad is the scope of CRA powers to obtain domestic and foreign-based information  for income tax and GST purposes? Does it end after the tax audit?
  • Resisting the reach: What are some limits on the exercise of CRA powers( relevance,legal privilege,non-compliance with procedural safeguards, the Charter)?
  • Demands for third party information from accountants-what crosses the line?
  • How do you formally contest seemingly abusive/illegal requests/demands for information?
  • Facing the increased threat by CRA to seek compliance orders- what are the practical ways to handle this?
  • Is there a legal right to resist the provision of information/documents relating to periods beyond the normal reassessment period?
  • In what circumstances is CRA entitled to reassess beyond the normal reassessment period?
  • Books and records: What qualifies and what does not for statutory purposes? 

Ed Kroft, QC - Blake Cassels & Graydon (Vancouver)

2:20 pm - 2:55 pm Corporate Reorganizations: An Update on Recent Issues
  • Amalgamations on the closing day – when do the year ends occur?
  • Busted amalgamations (credit union case)
  • New Kiddie tax (sale of shares)
  • CRA position on 85(1) vs 51(1) and timing of share issuance
  • Are PACs effective in light of Garron?
  • Do ‘tuck under’ transactions work?
  • What is ‘the loss business’ (STB Holdings)?
  • Foreign share-for-share exchanges and fractional shares
  • Butterflies and transfer of options

Ian Gamble and David Christian - Thorsteinssons (Vancouver)

2:55 pm - 3:10 pm Questions
3:10 pm - 3:30 pm
Refreshment break

Sponsored by
Miller Thomson LLP



3:30 pm - 4:05 pm

Managing Family Dynamics in Business Succession Planning

The Art and Science of Succession Planning: The First Three Generations

This session will look at the Top 5 fundamental operational steps (science) that are necessary for a successful transition of a private business to the next generation, and the Top 5 underestimated 'soft' (art) skills that are critical, but often forgotten. The session will explain where successions fail, where they succeed and why.

Sharon Duguid - PricewaterhouseCoopers (Vancouver)

4:05 pm - 4:45 pm

Overview and Highlights of the Wills, Estates and Succession Act (WESA)

  • Consolidation of provincial wills and estates legislation
  • Substantive changes made to intestate succession - who gets the estate if there's no will
  • New power given to court to give effect to "invalid wills"
  • New power given to court to correct errors made in wills
  • New rules for designating beneficiaries of benefit plans (RRSPs, RRIFs, TFSAs, pension plans, annuities)
  • Substantive changes to probate applications and estate administrations 

Gary Wilson - Borden Ladner Gervais (Vancouver)

4:45 pm -5:00 pm Questions
5:00 pm - 7:00 pm Evening Reception

 

Tuesday, September 27, 2011
7:00 am - 8:30 am
Breakfast

Hosted by
Thorsteinssons LLP


8:30 am - 9:05 am

Purchase and Sale of a Business: Selected Topics

  • Restrictive covenants – where are we on 56.4?

  • Allocation of purchase price – will it hold up in light of Transalta?

  • Assumption of contingent liablities – what is Daishowa saying ?

  • New contingent expenditure rules in response to Collins

  • Deemed year ends on signing the PSA or call rights (251(5)(b) and loss of CCPC status)

Blair Dwyer - Dwyer Tax Lawyers (Victoria)
Shane Onufrechuk, CA - Davis (Vancouver)

9:05 am - 9:55 am

Owner-Manager Remuneration Update

This session will provide an update on the integration of the ever-changing tax rates as are applicable to individuals, corporations, and trusts in B.C. The synthesis of these rates is then applied to the concept of integration in order to see how these tax rates can affect taxpayers’ decisions on how and through which kind of vehicle to earn income.

The presentation will review the impact and integration of capital gains earned through a corporation and passed through to an individual. To this end, a simple example of the sale of assets in a Canadian controlled private corporation (CCPC) is presented to illustrate the issues arising on the sale and the passing through of the after tax dollars to the shareholder. In light of the 50% capital gains rate, capital dividend account and eligible dividend regime, owner-manager remuneration is becoming more complex. The potential HST elimination and its possible impact on the corporate tax and dividend rates will also be evaluated. 

 John Ormiston, CA - Deloitte (Vancouver)

9:55 am - 10:10 am Questions
10:10 am - 10:30 am

Refreshment break

10:30 am - 11:05 am HST: One Year Later 

Brian Moul, BC Hydro and Power Authority (Vancouver)

11:05 am - 11:45 am

Partnerships Update

Roque Hsieh
and Tony Tse - KPMG (Vancouver)

11:45 am - 12:00 pm Questions
12:00 pm - 1:00 pm
Lunch

Sponsored by
Davis LLP



1:00 pm - 1:45 pm

Top 10 International Tax Issues Impacting Small and Medium-Sized Businesses

This session will provide an overview of the prevalent cross-border taxation issues relevant to small and medium sized private businesses.  The topics will include a cross-section of inbound and outbound Canadian tax issues, with a focus on the high-level consequences of these issues.

Inbound

  • Regulation 105

  • Services PE

  • Taxable Canadian property and section 116

  • Treaty based forms, with a focus on the limitation on benefits clause in the Canada-US Treaty

  • Foreign exchange and the functional currency election

Outbound

  • Tax information exchange agreements (TIEAs)
  • Other relevant treaty issues (treaty shopping, Hong Kong)

  • Transfer pricing

  • FIE and NRT update

  • Foreign affiliate reorganization proposals – 88(3)

Jerry Mahnger, CA - PricewaterhouseCoopers (Vancouver)
Richele Frank, CA - KPMG (Vancouver)

1:45 pm - 2:45 pm Professional Ethics in a Tax World - Self Assessmet, Self Incrimination, The Charter, Crown Fairness and Other Matters (A Panel Discussion)

The panel has developed six hypothetical situations to illustrate the workings of many of the key principles and the ethical issues that arise.  These six situations will be discussed.

Moderator: Gordon Funt - FMC Law (Vancouver)
Craig Sturrock, QC - Thorsteinssons (Vancouver)
Chuck Burkett - Burkett & Co. Chartered Accountants (Victoria)
David Duff - UBC, Faculty of Law

2:45 pm -3:00 pm Questions
3:00 pm - 3:20 pm Refreshment break
3:20 pm -4:30 pm  Tax Administration Panel

A panel of representatives from the Canada Revenue Agency offices in British Columbia and Ottawa will provide updates on recent interpretive, administrative and compliance developments relevant to small and medium-sized businesses.

Tim Clarke - Bull Housser & Tupper (Vancouver)
David Rickards - Grant Thornton (Vancouver)
Terry McAuley - Assistant Commissioner, Compliance Programs Branch
Lori Carruthers - Senior Rulings Officer, Income Tax Rulings Directorate, Legislative Policy and Regulatory Affairs Branch
Joanne Ralla - ADA, Burnaby-Fraser TSO

4:35 pm - 4:45 pm Questions
4:45 pm Adjournment


Conference Binder

Sponsored by
Fraser Milner Casgrain LLP

 
Onsite Program

Sponsored by
Borden Ladner Gervais LLP

Program Committee
Tim Clarke
Bull Housser & Tupper LLP
Michael Coburn
Davis LLP
David Duff
UBC, Faculty of Law
Mike Fahrmann
KPMG LLP
Eric Feilden
Meyers Norris Penny LLP
Ian Gamble
Thorsteinssons LLP
Bill Holms
PricewaterhouseCoopers LLP
Tracy MacKinnon
Deloitte & Touche LLP 
Michelle Moriartey
Legacy Tax + Trust Lawyers
Janette Pantry
Blake, Cassels & Graydon LLP
Andre Rachert
Dwyer Tax Lawyers
Dalbir Rai
Ernst & Young LLP 
Peter Wong
Borden Ladner Gervais LLP 
 

Fees

   Member Non-member*
Early Bird 
(register & pay on or before September 2)
$680 N/A
Regular (after September 2) $795 $1120
Government  $630  $780
Young Practitioner  $530 $680
Full-time Academic  $125 $125
Full-time Student  $100 $100 
Important note:
Each registration is intended for use by only one individual. Sharing a single registration between two or more individuals is not permitted.

* A reduced rate to conferences is only one of the benefits of a Foundation membership. Become a member today.
 
Conference Materials**  
Conference Binder  $50.00 
Electronic   $0.00
** Important note about Conference Materials:

Conference Materials (papers and powerpoint presentations) will be posted on the CTF web site prior to the conference. The conference registration fee includes electronic access to these materials; the registration fee does not include a printed copy of the materials.

If you would like to receive a Conference Binder, please select this option when registering; you will be charged an additional $50.00 to cover the cost of the binder.
     
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Hotel Accommodation

Out-of-town registrants should make their own hotel reservations directly with the Pan Pacific Vancouver by calling 1.800.663.1515. The hotel is holding a block of rooms for registrants on a first-come, first-served basis. Please book before Thursday, August 26, 2011 and ask for the 2011 BC Tax Conference rate.

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Cancellation

If you are unable to attend the conference, registration may be transferred to another individual. Please submit the name of the substituted delegate to Roda Ibrahim at ribrahim@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, September 16, 2011.  Individuals who cancel their registration prior to this deadline will receive a refund, less a $100 administration fee, at the conclusion of the conference.  We regret that we cannot issue refunds for notices of cancellation received after this deadline.