Lifetime Benefit Trusts
On death, RRSPs and RRIFs belonging to the deceased are deemed to have been included in the deceased income immediately before death and are taxed on their full market value as of the date of death. Created by s. 60.011 of the Income Tax Act, a Lifetime Benefit Trust (“LBT”) allows the rollover of an...
Continue reading the post titled Lifetime Benefit TrustsThe rise and fall of Quadriga, a Canadian crypto exchange Ponzi scheme
We may only be a few years away from a Netflix special on the Quadriga collapse. There would be plenty to fill a script in last month’s release of an investigative report from the Ontario Securities Commission, which found that Quadriga was a fraud and Ponzi scheme (the “OSC Report”). The OSC Report is the culmination...
Continue reading the post titled The rise and fall of Quadriga, a Canadian crypto exchange Ponzi schemeClimate-Change Litigation: Failure to disclose risks
On July 22, 2020 a 23 year old individual led the filing of a class action lawsuit against the Australian government alleging that the government failed to disclose the material risk of climate change to investors in government bonds1. Instead of seeking damages the relief sought seeks to require the government to improve its climate...
Continue reading the post titled Climate-Change Litigation: Failure to disclose risksSupport for Businesses during COVID-19: CEBA application deadline extended
Despite being able to resume operations following the lifting of certain governmental restrictions related to COVID-19, many business owners continue to experience unprecedented financial challenges. After months of decreased revenue – or possibly even periods without any revenue – business owners may be struggling to cover their operating costs from month to month. In many...
Continue reading the post titled Support for Businesses during COVID-19: CEBA application deadline extendedEmployers: Supreme Court of Canada weighs in on discrimination, bonus entitlements
It has been some time since the Supreme Court of Canada (“SCC”) last addressed employment-law related issues, but it recently issued two noteworthy decisions that may be relevant to employers. In Fraser v. Canada (Attorney General), 2020 SCC 28, the SCC arguably set the bar lower for employees to establish sex discrimination for the purposes...
Continue reading the post titled Employers: Supreme Court of Canada weighs in on discrimination, bonus entitlementsBritish Columbia Supreme Court rejects plan of arrangement for barring claims of historical shareholders
Overview In Re iAnthus Capital Holdings, Inc., 2020 BCSC 1442, Justice Gomery of the BCSC rejected a plan of arrangement due to the overly broad scope of release and injunction clauses which were found to bar claims of historical shareholders which preceded the plan. His Honour did not dismiss the petition, but rather provided iAnthus...
Continue reading the post titled British Columbia Supreme Court rejects plan of arrangement for barring claims of historical shareholdersLandlord and other third-party consents in business transactions
When a professional practice or business is sold, whether by share sale or asset sale, consideration must be given to the issue of third-party consents. Typically, when a business enters into a third-party contract, the contract will include a provision whereby the consent of such third party must be obtained prior to the sale or transfer...
Continue reading the post titled Landlord and other third-party consents in business transactionsKeep your ‘Secret Sauce’ secret: protecting confidential information in commercial relationships and transactions
When businesses negotiate potential transactions or contracts, or discuss opportunities to collaborate on a project or venture, it is likely that one or more of the parties will be sharing information that is non-public and confidential in nature.1 Maybe your business doesn’t have a ‘secret sauce’, but you may wish to protect the confidentiality of...
Continue reading the post titled Keep your ‘Secret Sauce’ secret: protecting confidential information in commercial relationships and transactionsIf we separate, will I get my down payment on the house back?
Let’s assume you and your spouse, whether common-law or married, own your home as joint tenants and you each paid an equal amount towards the down payment. If that’s the case, then if you separate you will each get your half of the down payment back when you sell the home and split the net...
Continue reading the post titled If we separate, will I get my down payment on the house back?Coffee giant, franchisee group close to settling two class action lawsuits
Franchise lawyer Peter Dillon recently spoke with Advocate Daily about a Canadian coffee giant and frustrated franchisees that appear to be close to reaching a settlement in two class action lawsuits. See the full article below. Coffee giant, franchisee group close to settling two class action lawsuits A Canadian coffee giant and an association representing...
Continue reading the post titled Coffee giant, franchisee group close to settling two class action lawsuitsReceive Blog Posts
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