Practical perspectives for contemporary legal challenges.
On June 29, 2021, Bill C-208 was granted Royal Assent and became law in Canada. Bill C-208 amended the Income Tax Act (Canada) (the “Act”) to provide tax relief to families wishing to transfer shares of small business corporations, family farms, or fishing corporations to the next generation: their children and grandchildren. Ordinarily, the Act provides that …
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On April 19, 2021, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the first official budget in the past two years, titled, Federal Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience (the “Budget”). The Budget proposed over $100 billion in spending, and, among the more significant measures, the Budget proposes to extend …
In the 2019 federal budget, the Canadian federal government announced changes to the taxation of employee stock options. On November 30, 2020, in its Fall Economic Statement, the federal government announced it was moving forward with plans to amend the tax treatment of employee stock options and released further information. Beginning July 1, 2021, stock …
On April 24, 2020, The Canadian Federal Government provided some details about the new Canada Emergency Commercial Rent Assistance program (CECRA) for small businesses and commercial landlords. The CECRA was announced on April 16, 2020 to provide relief for small business tenants and, in some respect, landlords. Under the CECRA, the Federal Government will offer …
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