To date, testamentary trusts have been used as a tool to allow taxpayers to split income after death. These trusts are established through an individual’s last Will and Testament for the benefit of another living person, generally a spouse or child. In the recently released 2014 Federal Budget, the Minister of Finance confirmed the government’s intention to eliminate graduated rates for testamentary trusts, certain estates, and grandfathered inter vivos trusts, as proposed in last year’s budget, and to instead apply flat top-rate taxation to these trusts and estates and make certain consequential changes.
There are various legal structures which individuals and companies may create to conduct business in Manitoba. When making a determination as to your business structure, consideration should be given to using a Manitoba limited partnership. This article will discuss certain considerations when choosing your business structure.
Determining how much notice of termination an employee is entitled to is a significant challenge for employers. This challenge is being compounded by Canadians remaining in the workforce longer than ever before. Courts are taking notice of this changing landscape, leading to important considerations and consequences for employers seeking to terminate employees.
In recent years, the Canadian civil legal system has acquired a greater understanding of the very serious nature of sexual abuse and its impact on victims. As a result, victims are now more frequently turning to the civil courts as a means of compensation. Civil litigation, while imperfect, may be an empowering and effective means by which victims of sexual abuse can have an opportunity to confront their abuser, be heard, and obtain some recognition of the harm they have suffered through financial compensation.
In October 2013, Northern Superior Resources Inc (“NSR”) filed a $110M law suit against Ontario based upon Ontario’s alleged failures to adequately undertake s. 35 consultation with affected Aboriginal groups. The NSR litigation raises the interesting question: who bears the cost when consultation goes wrong?.
Federal and provincial governments have been very supportive of business development over the years. They have designed numerous programs to meet the immediate and emerging needs of new and expanding businesses. All of the information found in this Guide can be obtained from government websites. There is just so much information on the websites that it sometimes is difficult for businesses to identify easily which programs or supports might best suit their needs.
Joint accounts, when properly used, can be an effective tool for estate planning. Unfortunately, the law which applies to the transfer of joint accounts on the death of one account holder is not well understood. This frequently leads to costly court fights between family members.
Expanding your business within Canada, or into Canada can present excellent growth opportunities, but what you do not know can hurt your chances of success. TDS Law hosted a panel to discuss issues related to Business Immigration, Corporate and Personal Tax, Labour and Employment and the benefits of various corporate structure options. Lunch will be included at this complimentary event.
Price is important. What a purchaser pays can mean a lot. How much HST/GST/PST is payable? What is the land transfer tax? Has there been a gain/profit for income tax purposes? What is the value that gets “booked” by the purchaser? So how do you figure out the price when the buyer is required to take on some future expense as part of the deal to buy a forestry, mining or oil and gas asset?.
On March 18, 2013 the Ontario Court of Appeal gave its decision in the case of Keewatin v. Minister of Natural Resources. In doing so, the Court reversed a Superior Court decision that significantly complicated the way in which resource developers and provinces deal with approvals to carry on activities on Crown lands that fall under certain of the “Numbered Treaties”. .
Peter Glowacki answers three questions about wills. Why is it important to have an up to date will, Why do most people not have a current will and how easy is it to make a charitable gift in your will?.
I often get calls from counsel from other provinces about the workings of Manitoba land transfer tax. The requirement to pay land transfer tax in Manitoba arises out of Part III of The Tax Administration and Miscellaneous Taxes Act. The tax is exigible on the registration of a transfer at a Land Titles Office (LTO). The LTO is made the agent of the Crown for purposes of collecting and remitting that tax.
Although from time to time claims for damage arising from herbicide, pesticide and fertilizer use are advanced against manufacturers and dealers under provincial Sale of Goods legislation, for the most part such claims proceed on the basis of negligence principles, that is to say, a departure from the ordinary standard of care expected of a dealer or manufacturer in connection with the sale of seed, herbicides, pesticides and fertilizers.
TDS has over 120 years of history providing legal services to clients locally, nationally and internationally and is committed to providing clients with solutions to their legal challenges, wherever they arise. While many clients associate TDS locally with Manitoba and nationally in Ontario, Saskatchewan, Northwest Territories and other Canadian jurisdictions, did you know that TDS can serve clients globally. Our firm is the exclusive Lex Mundi member firm for Manitoba, Canada. In fact, as this article is being written, one of our tax lawyers is on a video conference call with an American-based Lex Mundi firm, in an effort to help a Manitoba-based business to expand in the U. S.
On October 1, 2012, The Franchises Act came into force in Manitoba (the “Act”). The Act seeks to formally regulate the relationship between franchisors and franchisees in Manitoba. Traditionally, the relationship between these two parties (in Manitoba) has been governed by contract law, with the balance of power typically resting with the franchisor. The Act attempts to regulate this imbalance.