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Legal Alert: SCC Says “Embedded Costs” Not “Proceeds of Disposition” For Tax Purposes
May 24, 2013
On May 23, 2013 the Supreme Court of Canada clarified how to determine “proceeds of disposition” in establishing the amount of a capital gain for income tax purposes. Should a vendor add to the “proceeds of distribution” the purchaser’s cost of the vendor’s obligations respecting the transferred property that such purchaser assumed? The SCC
... Read MoreLegal Update: Atlantic Canadian Minimum Wage Update
May 23, 2013
Spring is officially here, and with it our annual update on Atlantic Canadian minimum wage rates: NS. Effective April 1, 2013 the NS minimum wage rose to $10.30 / hour for experienced workers, and $9.80 / hour for inexperienced workers. NB. NB’s minimum wage remains at $10 / hour. PEI. PEI’s minimum wage also
... Read MoreLegal Update: A Practical Analysis of “Material Fact”
By Laurie Jones May 21, 2013
In its April 2013 decision in Re Stan, the Alberta Securities Commission provides issuers with a practical approach to the assessment of both a “material fact” and general disclosure to the public: Contextual Analysis. Materiality assessments are fact specific and heavily dependent on context. No Benefit From Hindsight. It is impossible to assess materiality
... Read MoreLegal Alert: NB Amended Cap Regulation Effective July 1, 2013
May 16, 2013
On May 7, 2013 the NB Government formally filed and enacted amendments to NB’s Injury Regulation – Insurance Act (aka the ‘cap’ legislation). The final form of the amended regulation (Final Regulation) mirrors the final draft regulation (Proposed Regulation) in most – but not all – respects. Key differences between the Proposed Regulation and the
... Read MoreLegal Alert: NS to Allow Early Release of Holdback
By John Kulik May 8, 2013
On May 6, 2013, the NS Government presented Bill 81 for first reading in the Legislature. If enacted, Bill 81 would amend the NS Builders’ Lien Act to allow owners to release subcontractor’s holdbacks early – with benefits to owners, general contractors and subcontractors: Owners. Instead of the current requirement to hold 10% of
... Read MoreLegal Alert: Federal Temporary Foreign Worker Program Changes
April 30, 2013
On April 29, 2013 the Federal Government announced seven significant changes to Canada’s Temporary Foreign Worker Program: Payment of Prevailing Job Wage. Effective immediately, employers must pay temporary foreign workers the prevailing job wage; employers will no longer have the option to pay temporary foreign workers a lesser wage. Accelerated Labour Market Opinion Process
... Read MoreLegal Update: NB’s Amended Minor Injury Cap Regulation
April 29, 2013
Note: On May 7, 2013 the NB Government formally filed and enacted amendments to NB’s Injury Regulation – Insurance Act (aka the ‘cap’ legislation). The final form of the amended regulation (Final Regulation) mirrors the final draft regulation (Proposed Regulation) in most – but not all – respects. Click here to read McInnes Cooper’s May
... Read MoreLegal Alert: NS Introduces Cyber-safety Act
April 25, 2013
On April 25, 2013, the NS Government tabled Bill 61: Cyber-safety Act. Key aspects of the Act include: Protective Orders. The Act would permit protective orders in cyberbullying cases, including when the alleged perpetrator’s identity is not known. New Tort. The Act would create a new civil cause of action (a tort) of cyberbullying.
... Read MoreLegal Update: Voluntary Disclosures Program May Offer Relief for Tax Non-Compliance
By Karen Stilwell April 11, 2013
As a result of recent events focussing the public spotlight on international tax compliance issues we anticipate increased scrutiny by international revenue agencies, including the Canada Revenue Agency (CRA), of offshore holdings and accounts. CRA’s Voluntary Disclosures Program (VDP) may provide some taxpayers with relief. The VDP gives taxpayers the opportunity to apply to the
... Read MoreLegal Alert: NS Budget
April 4, 2013
Today, the Province of Nova Scotia tabled its 2013 Budget. Click here to read NS’s “Balanced Budget 2013-14”. On March 27, 2013, PEI. tabled its 2013 budget. Click here to read PEI’s 2013 budget and related documents. On March 26, 2013, NB tabled its 2013 budget. Click here to read NB’s 2013
... Read MoreLegal Update: The Changing Tide of Atlantic Canadian Pension Legislation
By Hugh Wright, Kiersten Amos April 3, 2013
Pension legislation throughout Atlantic Canada is in a state of change. In less than a year, each Atlantic Province has taken steps – in some cases, bold steps – to change the way in which pensions are legislated in its respective jurisdiction: PEI Takes Another Stab at Pension Standards Legislation. It appears PEI – the
... Read MoreLegal Alert: PEI Budget
March 27, 2013
Today, the Province of Prince Edward Island tabled its 2013 Budget. Click here to read PEI’s 2013 budget and related documents. On April 4, 2013 NS will table its 2013 budget. On March 26, 2013, NB tabled its 2013 budget. Click here to read NB’s 2013 – 2014 budget, “Managing Smarter for a Brighter
... Read MoreLegal Alert: NB and NL Budgets
March 26, 2013
NB AND NL TABLE 2013 PROVINCIAL BUDGETS Today, the Provinces of New Brunswick and Newfoundland and Labrador tabled their budgets. Click here to read NB’s 2013 – 2014 budget, “Managing Smarter for a Brighter Future”, and related documents. Click here to read NL’s “Budget 2013: A Sound Plan, A Secure Future”. P.E.I. will
... Read MoreLegal Alert: 2013 Economic Action Plan – Jobs, Growth, and Long-Term Prosperity
By Pamela Rideout, Raymond G. Adlington March 21, 2013
The Economic Action Plan 2013, entitled Jobs, Growth and Long-Term Prosperity was released today by the Department of Finance. The projected federal deficit for 2012-2013 is $25.9B, with the government reaffirming its commitment to reducing this deficit in each of the next two fiscal years before returning to a balanced budget in 2015-2016 as previously
... Read More2013 Federal Budget
March 20, 2013
Our Tax Team will be in lock-up analyzing the budget’s key business highlights and what they mean to you. Watch here for our analysis of the 2013 Federal Budget to be published on Budget Night. Click here to read our full analysis.
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