Now that Justices Beverley McLachlin and Marshall Rothstein have left the Supreme Court of Canada, many in the tax bar are wondering not only who will carry the tax torch going forward but if Canada’s top court will have the appetite to tackle complex tax cases.It’s an important question, as both the Tax Court of Canada and the Federal Court of Appeal tackle some meaty cases in the area of the General AntiAvoidance Rule and the complex issue of transfer pricing. Cases touching on those important subject matters could be heading to the top court over the next few years. Rothstein, who retired in the summer of 2015, had been the perceived torch carrier when it came to tax cases at the SCC. A former justice on both the Federal Court trial and appeal division prior to joining the SCC in 2006, Rothstein’s fingerprint is on most of the SCC tax rulings made since his appointment. As a Federal Court of Appeal justice, he also heard Tax Court of Canada appeals.McLachlin … [Read more...] about Who on the SCC will pick up the tax mantle?
Budget busters who breaking the bank answers
In order to understand the context in which the current tax reform bill, H.R. 1, is being considered, it is important to know the meaning of two bits of Washington jargon: “budget reconciliation” and the “Byrd rule.” Though somewhat arcane, these terms have a substantial impact both on the likelihood of enactment of tax reform legislation and on the contents of, and revisions to, such legislation.Under the Congressional Budget Act of 1974, budget reconciliation is a two-step process. Under the first step, reconciliation instructions are included in the annual budget resolution. The federal fiscal year runs from October 1 through September 30. Congress passes a budget resolution specifying spending and revenue levels for that year, and, in the case of tax revenues, containing instructions to the two tax-writing committees, the House Ways and Means Committee and the Senate Finance Committee, as to the changes in law that they are to propose in order to … [Read more...] about The Budget Reconciliation Process and the “Byrd Rule”: Implications for the Ongoing Tax Reform Effort
As a parent, would you keep bailing your 21-year-old son out of bad situations due to his addiction to alcohol to protect him from having a criminal record or worse?If you’re an assistant for a lawyer, do you cover up for her when she continually misses filing deadlines and client meetings due to an obvious but unspoken addiction to a prescription painkiller? If, as a lawyer, you witness negligent behaviour by a colleague you suspect drank too much at lunch, would you be willing to simply forget what you saw and refrain from reporting the behaviour?The people in these hypothetical situations are caring and compassionate people who are acting out of a sense of loyalty and empathy. No lawyer wants a complaint to the Law Society of Upper Canada, so why do it to someone else? No parent wants to watch as a child spirals into a perilous abyss with potentially permanent damage. How can that be wrong? In fact, most often it is.Addiction is perplexing and pervasive. One of the hallmarks … [Read more...] about The Lawyer Therapist: Breaking the cycle of codependence
On January 28, 2002, the Bank of Nova Scotia issued C500 million of floating rate deposit notes due January 28, 2004 listed in the London Stock Exchange plc, pursuant to the programme. The dealers for the offering were Barclays Bank, Deutsche Bank AG London, Scotia Capital, Société Générale and UBS AG.McCarthy Tétrault LLP acted for the bank of Nova Scotia and Scotiabank Europe, with a team comprised of Barry Ryan and Steven Kim (business) and Gabrielle Richards and Michael Quigley (tax). Tony Smith, Michael Dodson and Cveta Jovanoska of Simmons & Simmons acted as legal advisors in England to the Bank of Nova Scotia and Scotiabank Europe. The dealers were represented by Marianne Sussex, Dan Thomson and Erin Needra of Stikeman Elliot in London … [Read more...] about The Bank of Nova Scotia Renews Euro Note Programme
Flu season is coming, and healthcare (and other) organizations may be asking whether they should have mandatory flu vaccine policies. If an employer decides to implement a mandatory program, the next question is how to administer it.In the healthcare industry, mandatory vaccination programs for employees are common. A number of states require healthcare employers to offer the vaccine or to ensure that employees receive it (with certain exceptions). The Centers for Disease Control (CDC) and Prevention website tracks these various state laws and their requirements, and the CDC itself recommends that all health care workers get vaccinated (including all workers having direct and indirect patient care involvement and exposure).However, “mandatory” doesn’t always mean mandatory. In some circumstances, healthcare providers may have to grant exceptions to their “mandatory” vaccination programs. Federal and state discrimination laws … [Read more...] about Mandatory Flu Vaccine Policies: Dealing With Employees Who Refuse the Shot
So, who is going to be the next Attorney General of the United States, and why should you care? The nominee’s name is Loretta Lynch, the United States Attorney for the Eastern District of New York (Brooklyn), and her confirmation had been held up in the Senate for months in a dispute over the Anti-Human Trafficking bill because it contained anti-abortion funding language. Lynch was nominated by the President last November. Senate Majority Leader Mitch McConnell had promised that the trafficking bill must be completed before the Senate voted on Lynch. And so we waited. But on Thursday, April 23, an agreement was reached and Loretta Lynch was approved by the Senate 56-43.You should care about Loretta Lynch because her history and prosecutorial priorities will affect what happens to you and your business.Who Is She?Lynch is a Harvard-educated North Carolina native who spent hours with her pastor father watching court proceedings in Durham, NC. Her … [Read more...] about Who is the Next U.S. Attorney General and Why Should You Care?
Thirty-eight law students from Arizona’s three law schools took the bar exam before graduation this year in a pilot program approved in 2012.The students who sat for the bar exam in February of their 3L year have not yet received the test results, the National Law Journal (sub. req.) reports. But the story says law students and law-school administrators gave the early bar program “a tentative thumbs-up.”Arizona State law dean Doug Sylvester told the NLJ that most of the students who took the early exam “were just looking to get certified and get out there” in the job market. Many employers—including smaller law firms, public-interest firms and government—won’t consider hiring law grads until they are licensed.The Arizona program allows 3Ls who have completed all but 10 of their legal credits to sit for the bar exam in February.Among the students who took the early exam was Matt Randle, a former U.S. Army medic in law school at the … [Read more...] about Thirty-eight 3Ls who took the Arizona bar in February await the test results
See also: ABAJournal.com: “Shy Lawyer’s Guide to Becoming a Rainmaker (podcast)”ABA Journal: “How lawyers can avoid burnout and debilitating anxiety”Podcast TranscriptStephanie Francis Ward: Do you think you might benefit from connections at bar association events, but find the thought of going to one panic-inducing? You’re not alone. I’m Stephanie Francis Ward, and on today’s Asked and Answered, business development coach Larry Kohn tells us about some good ways lawyers can make connections at bar events, and maybe even enjoy themselves. Larry, welcome to the show.Larry Kohn: Thanks, Stephanie. It’s great to be here.Stephanie Francis Ward: First question for you: If you’re nervous about attending a bar association event or any kind of networking event, what are some good ways that you can build yourself up and maybe calm yourself down before you go?Larry Kohn: I think the most important thing to do is to consider why … [Read more...] about How to conquer anxiety and break the ice during professional events (podcast with transcript)
Hope you enjoyed that headline alliteration.But let’s talk cyber crime. In 2010 it’s rare to find someone who has never had their email account hacked (happened to me last month!) or their personal information stolen by cyber thieves. But that’s small time cyber crime compared to what’s happening to businesses around the globe.According to a new study by Ponemon Institute, an independent research establishment, organizations are getting hit by at least one successful attack per week. Sound like a lot to you? It is. But what’s even more distressing and hard to believe is that the annualized cost to their bottom lines from the attacks ranged from $1 million to $53 million per year.Pnemon’s first annual “Cost of Cyber Crime” report studied 45 U.S. organizations hit data breaches. It found that the median cost to companies was $3.8 million per year for an attack. Certainly enough for some bottom line blues.“Information theft was … [Read more...] about Data Breaches Breaking the Bank for Businesses
A three Judge Bench of the Supreme Court finally held that a Complaint of Dis-honour of Cheque can be filed only to the Court within whose local jurisdiction the offence was committed, which in the present context is where the cheque is dishonoured by the bank on which it is drawn. The Court clarified that the Complainant is statutorily bound to comply with Section 177 etc. of the CrPC and therefore the place or situs where the Section 138 Complaint is to be filed is not of his choosing. The Supreme Court in Dashrath Rupsingh Rathod Vs. State of Maharashtra & Anr. Overruled the two Judge Bench Judgment in K. Bhaskaran v. Sankaran Vaidhyan Balan (1999) 7 SCC 510 wherein it was held that “the offence under Section 138 of the Act can be completed only with the concatenation of a number of acts. Following are the acts which are components of … [Read more...] about Breaking; Dis-honour of Cheque cases can be filed only to the Court within whose local jurisdiction, the offence was Committed; ie, where the cheque is dishonoured by the bank on which it is drawn. Bhaskaran Vs Balan (1999) which allowed Five territorial Jurisdictions overruled [Read the Judgment]