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All times are listed in Pacific Daylight Time (PDT)
WEBCAST TIME ZONES:
8:50 am - 2:50 pm [PDT] | 9:50 am - 3:50 pm [MDT] | 11:50 am - 5:50 pm [EDT]
Heather L. Evans, Executive Director & CEO, Canadian Tax Foundation
H. Michael Dolson, Felesky Flynn LLP, Edmonton
If you are looking for your tax headlines in bite-sized
packages, this session is for you. This jam-packed hour will provide a
brief review of the legislative, administrative and judicial
developments over the past year in federal and provincial tax law, of
particular relevance to owner-managed businesses and private companies.
It will also touch upon some of the changes going on south of the border
and how those might impact small and medium enterprises here in Canada .
Allison Blackler, KPMG Law LLP, Vancouver
Shane Onufrechuk, FCPA, FCA, KPMG LLP, Vancouver
Estate Planning from Design to Wind-Up: Key Tax Issues & Pitfalls
COVID-19 has caused many taxpayers to focus on bringing their estate planning up to speed. A well-designed estate plan will take into account a wide range of family, business and tax considerations that evolve over time. This session will examine the major considerations when advising clients on their estate planning at each stage of life. It will also provide a detailed discussion of some of the key tax issues that clients and their advisors must address and reconcile with their non-tax objectives and the practical realities of estate administration.
William J. Fowlis, QC, FCPA, FCA, TEP, Miller Thomson LLP, Calgary
Laura Peach, Legacy Tax + Trust Lawyers, Vancouver
Nancy Diep, Lawson Lundell LLP, Calgary
Mergers and Acquisitions for Private Enterprises
2020 and 2021 have seen a significant amount of activity in the area of mergers and acquisitions (M &A s). This topic will cover tax issues that frequently arise in M & A transactions involving small to medium-sized enterprises. Some issues, though they may arise in larger transactions, are more likely to be significant in smaller transactions. These issues include the following:
Eligibility for the lifetime capital gains exemption
Private businesses that have foreign operations/ subsidiaries
Post-closing reorganizations and related tax issues including disappearing ACB and 87(11)
Tax planning for non-shareholder employees
Dylan Hughes, CPA, CA, MNP LLP, Calgary
Felicia Mar, CPA, CA, Ascend LLP, Calgary
Mergers and Acquisitions of Distressed Companies – in Arm’s Length and Non-Arm’s Length Situations
The COVID-19 pandemic has caused an increase in distressed M & A activity, with target companies looking for purchasers and/or investors, especially given the depressed valuations and the capital that is ready and available to be deployed. This session will review the tax issues and some of the non-tax issues that need to be considered in both arm’s length and non-arm’s length situations. These issues include:
issues for consideration beyond tax for M & A transactions, including those effected through insolvency and restructuring statutes;
mitigating tax risk through targeted due diligence with the “as is, where is” nature of a distressed M&A transaction;
tax issues and traps/pitfalls that that can arise in respect of debt restructuring transactions and section 160;
acquisition structuring, including the consideration of loss utilization, financing structures and related interest deductibility; and
risk-sharing mechanisms such as contingent valuation rights, contingent vendor notes and earn-outs.
Elan Harper, Moodys Tax, Calgary
Mark Woltersdorf, Dentons Canada LLP, Edmonton
Ethical Issues in Tax Practice
This session will highlight the ethical issues that can arise in the practice of tax, as well as how they may be addressed/considered. Selected situations, such as establishing the facts, working with colleagues, and addressing potential conflicts of interest will be used to help illustrate a principle-based approach to identifying and navigating challenging ethical issues. Specific areas of discussion will include backdating and addressing errors or omissions identified at a later date. The session will also examine the new reportable transaction disclosure rules in the larger context of the responsibilities of tax professionals.
Carrie Aiken, Blake, Cassels & Graydon LLP, Calgary
Karen Wensley, Toronto
Hugh Woolley, CPA, CA, Lewis & Company, Vancouver
Program is subject to change. Please check back frequently for the most up-to-date version
Erin Swint, PMT CPAs LLP, Abbotsford
Family Business Transition - A Farming Case Study
There are many considerations beyond tax planning that must be addressed when transitioning the family business. Using a case study of a typical farm family, this session will look at various non-tax factors that may arise throughout the course of the transition of a family farm and how they impact the tax planning that will be undertaken to achieve their goals. The session will also briefly discuss how Bill C-208 changes the tax planning landscape for family farm transitions.
Family farm transition planning is a dynamic process and must be carefully monitored to ensure the goals set out during the initial stages can still be met in the future. Co-mingled farm and non-farm operations can taint qualified farming status and negate otherwise tax deferred transition planning. As farming operations become more vertically integrated, care must be taken to ensure the transition plan is maintained.
Matt Bolley, CPA, CA, MNP LLP, Brandon
Michael Poole, CPA, CA, MNP LLP, Brandon
Stock-Based Compensation Strategies
Incentive compensation for employees is a hot topic among tax practitioners in Western Canadian. In the prairie provinces, a less active deal market has owner-managers looking to equity compensation as a first step in the sale of their businesses to senior employees. In British Columbia, business buyers and existing business owners are interested in equity compensation as a means of retaining key employees. The widespread use of stock options in the tech sector has employees and owner-managers across the country considering the adoption of similar arrangements.
The presenters will review the available incentive compensation models and their appropriateness in different scenarios, including in start-ups, business successions, and ownership changes. The recent amendments to the stock option rules for corporations other than CCPCs will be reviewed, as will other recent developments in employee incentive compensation. Finally, the presenters will review the technical issues in incentive compensation, for example, the challenge of determining what constitutes an agreement to issue securities to employees.
Jeremy Herbert, Felesky Flynn LLP, Edmonton
Ryan Murphy, Hodgson Russ LLP, Buffalo
Paul Grower, Fillmore Riley LLP, Winnipeg
Navigating through the Canadian web of “digital” sales taxes – Implications for cross-border transactions
This session is intended to inform advisors who represent non-resident businesses and individuals in respect of the PST/GST/HST issues arising with respect to cross-border transactions, with a focus on e-commerce, services, and intangible property. This session will also discuss digital platform operator/marketplace facilitator rules across the country and how they interact with the non-resident e-commerce rules. Tips and insights will be provided on how to deal with the multitude of transactional/sales taxes.
Mitch LaBuick, BDO Canada LLP, Edmonton
Zheting Su, Thorsteinssons LLP, Vancouver
Remote Business – Our Clients’ New Reality
Although the COVID-19 pandemic did not create the digital economy, it accelerated many organizations’ adoption of new digital systems and operations., The urgency of this process often prevented an assessment of the new issues that adoption created. This session will discuss the issues (some of them probably unforeseen) that our clients are now facing, as a result of two factors: (1) a workforce more remote than ever before, and (2) the fact that the reach of our organizations’ sales is broadening just as many jurisdictions are broadening the reach of their sales taxes. This discussion will include:
Remote workers, considered from both the employer and employee perspectives, including cross-provincial and cross-border working arrangements, payroll issues and whether new permanent establishments have been created for both corporations and partnerships.
Sales tax issues, including the broadening reach of provincial and state sales taxes.
Implications on residency, both personal and corporate.
Jeff Harrison, CPA, CMA, MNP LLP, Regina
Lilian Zheng, Deloitte LLP, Vancouver
Hugh Neilson, FCPA, FCA, TEP, Video Tax News, Edmonton
Remote Business – Our Own New Reality
The COVID-19 pandemic accelerated the digitization our own practices as it did with many of our clients’ practices, and as it did many processes at the Canada Revenue Agency. What will the tax practice of the future look like? This session will discuss the following issues:
CyberSecurity in your practice
CyberSecurity at the CRA
Remote practice and digital interactions
Ryan Berger, Lawson Lundell LLP, Vancouver
Kathleen Butler, Canada Revenue Agency, Ottawa
Murray Mikulak, FCPA, FCA, Mikulak & Hill LLP, Calgary
Craig Thorkelsson, PCL Constructors Inc., Edmonton
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