Posted in Tax

On February 4, the federal government put forward draft legislation setting out the new Excessive Interest and Financing Expenses Limitation (EIFEL) regime. EIFEL is intended to prevent erosion of the Canadian tax base by limiting net interest and financing deductions of certain Canadian taxpayers generally to 30% of earnings before interest, taxes, depreciation and ...

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Part 1: British Columbia’s Evolving Regulation of Carbon Capture and Storage

The release of the federal government’s 2022 budget highlights the tension between commitments to a net-zero economy and the enduring importance of fossil fuels in Canada. The government’s 2030 Emissions Reduction Plan, published pursuant to the Canadian Net-Zero Emissions ...

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Part 2: CCUS Investment Tax Credit

As noted in Part 1 of this blog post, available here, the release of the federal government’s 2022 budget (the “2022 Budget”) highlights the tension between commitments to a net-zero economy and the enduring importance of fossil fuels in Canada. The government’s 2030 Emissions Reduction Plan, published pursuant to the Canadian ...

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In a post one year ago aimed at situating the prevailing corporate governance trends for directors of Canadian companies, this blog noted that “there is a torrent of profoundly important issues facing society in our time, many of them amounting to real crises… [A]s pressures mount on corporations to react to external crises, directors of Canadian corporations must ...

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Amendments to the Canada Business Corporations Act (the “CBCA”) relating to the election of directors and shareholder proposals will come into force on August 31, 2022 (the “Amendments”).

Election of Directors

The Amendments require distributing corporations (which, generally speaking, are public companies governed by the CBCA) to comply with the following ...

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Beginning in 2020, in response to the enduring challenges of the COVID-19 pandemic, many reporting issuers pivoted from in-person shareholder meetings to virtual shareholder meetings. Virtual meetings are either held entirely virtually or rely on a “hybrid” model allowing for both virtual and in-person participation.

In light of recent corporate law amendments ...

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For over a decade, Canadian securities regulators have been concerned about the significant variance in disclosure practices surrounding non-GAAP financial measures and the potential to mislead investors. To address these concerns, on August 25, 2021, National Instrument 52-112 – Non-GAAP and Other Financial Measures Disclosure (“NI 52-112”) and its ...

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Every year, reporting issuers are faced with the task of tailoring the disclosure for their annual general meeting to an ever-evolving list of changes in corporate and securities laws, updates to stock exchange rules, new guidance from proxy advisors and regulators and developing corporate governance trends.

This checklist and overview of certain matters relevant to ...

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Changes are coming to the Alberta Business Corporations Act (the "Act"). On December 2, 2021 the Government of Alberta's Bill 84: Business Corporations Amendment Act, 2021 ("Bill 84") received Royal Assent. Bill 84 will come into force on proclamation, expected to be some time after the accompanying regulations have been developed.

Overall, these amendments aim to bring ...

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Posted in Tax

Most taxation is concerned with raising revenue for government expenditure in the short term (typically within a year or so of the taxable event). A well-designed modern tax will also typically involve a withholding mechanism: think, for example, of payroll withholding on wages or the charge / input tax credit system in a typical VAT, such as Canada’s GST. The Digital ...

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Lawson Lundell's Business Law Blog covers a wide range of topics relevant to businesses of all sorts, including corporate governance, corporate commercial law, corporate finance and securities, mergers and acquisitions, procurement, private equity and venture capital, intellectual property, and business taxation. Please also see our litigation, project law, China law, and real estate law blogs. 

Legal Disclaimer: The information made available on this webpage is for information purposes only. It does not constitute legal advice, and should not be relied on as such. Please contact our firm if you need legal advice or have questions about the content of this webpage. 

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