Articles

In this brief article, Neti Jhatakia provides an overview of the income tax implications of the staking of cryptocurrency in Canada.

In June, the National Post publicized a tax appeal by Toronto sports icon José Bautista. Because the appeal deals with how non-resident, high-income earners save for retirement and protect their income from Canadian taxes, commentators have speculated that a dismissal by the TCC could eliminate certain financial enticements for athletes to play in Canada. This article summarizes the facts and tax issues at stake in this appeal.

In The King v. MMV Capital Partners Inc., the Federal Court of Appeal (FCA) found that the general anti-avoidance rule (GAAR), section 245 of the Income Tax Act (Act), applied to a series of loss utilization transactions. According to the FCA, the transactions were structured to allow a third-party purchaser to access the taxpayer’s losses, and the GAAR applied because the transactions frustrated the object, spirit, and purpose of the loss restriction rules in subsection 111(5) of the Act.

A profile to get to know the OBA Insurance Law Executive. This focus is on Marcus Knapp, Counsel at Ricketts Harris LLP.

While most court attendances are still proceeding via Zoom, there has been a gradual resumption of in-person hearings for certain matters. The OBA Trusts and Estates Law Section Technology Liaisons have prepared a guide to attending court in person, which covers such topics as Wi-Fi access, hybrid Zoom/in-person hearings, available technology, and suggested practices for counsel.

On December 7, 2023, the Office of the Privacy Commissioner of Canada released an article with nine principles intended to guide developers, providers and organizations to properly navigate the development and use of generative artificial intelligence. Privacy concerns arise where the AI is trained on data sets that include personal information.

First Nations with reserves administered under the Indian Act and band members who hold possessory interests within those reserves should be aware of the potential application and impact of adverse possession on reserve land.

The authors explore the rising issue of elder financial abuse in Ontario, affecting 4-10% of seniors. The article identifies ten signs of financial exploitation, stresses the role of lawyers in prevention, and discusses legal recourses such as criminal charges and protective services. Emphasizing the urgency of addressing this problem, the authors advocate for a multi-faceted approach, including updated legal documents and awareness initiatives to protect seniors' financial well-being.

Insurance can be a useful tool for someone preparing their estate plan. In this article, Jay Hershfield and Holly LeValliant discuss the unique advantages insurance has for business owners. They discuss how a business owner may use insurance to provide for the smooth transfer of their business, to equalize their estate, and to maximize the value of their estate.