Education

University of Alberta, BComm (Finance), 2009, Gold Medallist  University of Toronto, JD, 2012, Highest Academic Standing in Tax Law 

Bar Admissions

Alberta, 2013

Jared A. Mackey

Partner

T: 403.298.4471 / E: mackeyj@bennettjones.com

Calgary

Jared Mackey practises in all areas of Canadian domestic and international income tax law, with a particular focus on mergers and acquisitions, corporate transactions and reorganizations, inbound and outbound investment and financing, private equity, the taxation of resource companies, and personal tax planning. Jared has appeared before the Standing Senate Committee on Foreign Affairs and International Trade as an expert on international tax matters.

Jared also assists clients in resolving tax dispute matters with the Canada Revenue Agency.

Jared is a member of the Canadian Tax Foundation and the Canadian Petroleum Tax Society. He is a frequent publisher of legal and tax articles and serves as an editor of the Federated Press International Tax Planning Journal.

In the community, Jared is a retired hockey official with the Western Hockey League.

Select Experience

• Generis Global Partners in its sale to 17208227 Canada Inc., a subsidiary of Emerald X
• Whitewater Management in its acquisition of Orion Water Solutions, a leading provider of sustainable water treatment and wastewater management solutions
• EarthDaily Analytics and its U.S. affiliates with the cross-border acquisition of SkyForest, a Canadian wildfire risk assessment and forestry analytics provider
• The Vendor group on the sale of the shares of Pacific Northwest Moving (Yukon) Limited and it's subsidiaries to Mullen Group Ltd.
• TriWest in its indirect investment through its affiliates of a majority equity interest in Alta West Mortgage Capital
• Hillcore Group in its acquisition of CEDA, a leading service provider specialized in providing industrial maintenance, turnaround and environmental services in Western Canada
• Hillcore Group in its acquisition of SITE Resource Group, a diverse service provider providing infrastructure, piling, foundation, environmental, and civil services in Western Canada and Puerto Rico
• Hillcore Group in its acquisition of White Water Management, a leading fluid management business in Western Canada, and the business of its subsidiary, Catalyst Production Systems
• Riverstone Pipestone LP and Riverstone V REL CNOR LP, the largest shareholders of Pipestone Energy Corp., in connection with the acquisition by Strathcona Resources Ltd. of all of the outstanding shares of Pipestone pursuant to a plan of arrangement. 
• Hillcore Management Corporation in closing the acquisition of Midlite Construction Ltd. and its subsidiary TND Rentals & Supplies Ltd. by way of Share Purchase
• Riverstone Holdings LLC, in its acquisition of all issued and outstanding Class A common shares of Hammerhead Energy Inc. by Crescent Point Energy Corp. by an arrangement agreement for total consideration of approximately $2.55-billion, including approximately $455-million in assumed net debt, consisting of cash and common shares of the Purchaser
• NGP Energy Capital Management in its investment in Cygnet Energy, a private company focused on capturing scalable resource opportunities in the Western Canadian Sedimentary Basin
• Riverstone Holdings LLC, through its subsidiary Riverstone Pipestone LP, in its investment in the $67.9-million private placement of convertible preferred shares of Pipestone Energy Corp
• Hillcore Group in its acquisition of Thompson Construction Group, a leading heavy civil contractor and construction company in Western Canada
• The management team and employee shareholders of Cando Rail & Terminals Ltd. in connection with AIMCo's acquisition of all of the issued and outstanding shares of Cando Rail from Torquest and the minority shareholders, and in connection with the management team's reinvestment in the go-forward enterprise
• Canadian Pacific Railway Limited in its US$31 billion acquisition of Kansas City Southern
• The Watermill Group, in its acquisition of Weston Forest Products Inc., a leading distributor and remanufacturer of softwood and hardwood lumber and specialty panel products across North America. 
• Cenovus Energy Inc., in its $23.6-billion proposed acquisition of Husky Energy Inc.
• Canadian Natural Resources Limited, in its approximately $460-million acquisition of Painted Pony Energy Ltd.
• Lineage Logistics, owned by Bay Grove Capital, in its acquisition of cold storage company Ontario Refrigerated Services, Inc.
• Devon Canada Corporation and Devon Canada Crude Marketing Corporation, in their approx. $3.8-billion sale of substantially all of their assets to Canadian Natural Resources Limited
• NEP Canada Corp. sells its Canadian Exploration and Production Operating Subsidiary to Aspenleaf Energy Limited
• EZ Core sells Drive Rental Assets to Cahill Services for $24 Million

Recent Recognitions

• Chambers Canada
  
  Ranked, Tax
• Best Lawyers in Canada
  
  Ones to Watch, Tax Law

Recent Insights, News & Events

• Deemed U.S. Corporation not a U.S. Treaty Resident: HRMC v. GE Financial Investments Ltd.
  Articles / April 03, 2025
  Article 4(1) of Canada’s income tax treaties defines a “resident” of a Contracting State to mean a person who is subject to comprehensive tax in that State “by reason of” various criteria, such as domicile, residence, place of management or any other criterion of a similar nature.
• Mullen Group Announces Acquisition of PNW Group
  Client Work / December 02, 2024
  Mullen Group Ltd. has announced its acquisition of Pacific Northwest Investments Inc. and its subsidiary Pacific Northwest Moving (Yukon) Limited. The acquisition, finalized on December 1, 2024, strengthens Mullen Group’s operations in the Yukon Territory and Northern Alberta. PNW, with over 50 years of experience, offers a range of less-than-truckload (LTL) solutions, including temperature-controlled, dry van and deck services, as well as local last-mile delivery in Whitehorse and Dawson City, YT.
• CRA Relief and Proposed Amendments Mitigate Bare Trust Reporting Burden on Energy Companies
  Blog / November 13, 2024
  On October 29, 2024, the Canada Revenue Agency (CRA) issued a release stating that it will not require bare trusts to file trust returns for the 2024 tax year, continuing the administrative exemption that was granted for the 2023 tax year. The CRA's recent announcement follows on the heels of proposed amendments to the Income Tax Act (Canada) (the Proposed Amendments) released in August that, among things, would provide targeted reporting relief for bare trusts meeting certain criteria. 
• Tax Considerations on the Repayment of Discounted Foreign Currency Obligations
  Articles / February 27, 2024
  When Canadian multinationals issue discounted bonds, notes and similar obligations in a foreign currency, the tax consequences of repaying the debt are governed by subsections 39(2) and paragraph 20(1)(f) of the Income Tax Act (Canada). Jared Mackey and Anu Nijhawan explore the application and interaction of these provisions, which can give rise to unexpected results.
• Bennett Jones Lawyers Recognized in Best Lawyers in Canada 2024
  Announcements / August 24, 2023
  104 Bennett Jones lawyers have been recognized across 46 practice areas in the 2024 edition of Best Lawyers in Canada. The recognized lawyers work in Bennett Jones' offices across Canada in Calgary, Edmonton, Toronto and Vancouver, highlighting the firm's national expertise.
• Enhanced Reportable Transaction Rules Take Effect
  Blog / June 27, 2023
  With the enactment of Bill C-47 on June 22, 2023, Canada's enhanced mandatory disclosure rules are now fully in effect. These rules, which were first announced in the 2021 Canadian federal budget: expand the prior rules for "reportable transactions"; include new reporting requirements for "notifiable transactions" and "uncertain tax treatments"; and impose new punitive consequences, including penalties and extended reassessment periods, for failing to comply with the disclosure requirements.
• Canada Clarifies and Expands Proposal for Equity Buyback Tax
  Blog / April 03, 2023
  The 2023 Canadian Federal Budget, released March 28, 2023, provides particulars on the proposed new two percent tax on share buybacks and expands the proposal to apply to repurchases of equity by certain trusts and partnerships.
• Budget 2023 Proposes Significant Amendments to Canada's General Anti-Avoidance Rule
  Blog / March 31, 2023
  The 2023 Canadian Federal Budget, released March 28, 2023 (Budget 2023), proposes significant amendments to expand the application of Canada's general anti-avoidance rule. The government has invited the public to submit written comments on the proposed amendments by May 31, 2023.
• Preparing for Mandatory Disclosure
  Speaking Engagements / January 19, 2023
  Jared Mackey and Marshall Haughey were featured speakers on "Preparing for Mandatory Disclosure" at the Tax Executives Institute's (Calgary chapter) luncheon event on January 19, 2023. Members can view a copy of the presentation on the TEI's website.
• Canada Proposes New Tax On Share Buybacks
  Blog / November 09, 2022
  The federal government's 2022 Fall Economic Statement, released on November 3, 2022, introduced a new tax on share buybacks by public corporations in Canada. Under the proposal, which would come into force on January 1, 2024, a two percent corporate-level tax would apply on the "net value" of a corporation's share buybacks.
• Canadian Tax Foundation: Reimagining the Determination of Tax Avoidance
  Articles / June 27, 2022
  The Canadian Tax Foundation's newsletter Perspectives on Tax Law and Policy (June 2022) features an article by Anu Nijhawan and Jared Mackey on Reimagining the Determination of Tax Avoidance.
• Mandatory Disclosure Rules Recent Developments
  Speaking Engagements / June 06, 2022
  Jared Mackey and Marshall Haughey presented on "Mandatory Disclosure Rules: Recent Developments" at the Canadian Tax Foundation's 2022 Prairie Provinces Tax Conference on June 6, 2022.
• New Tax Reporting Requirements for Bare Trusts
  Articles / April 04, 2022
  Jared Mackey and Spencer Brown write in The Lawyer's Daily on how Canadian bare trusts could soon be required to file annual returns with the Canada Revenue Agency.
• Canada Proposes New Tax Reporting Requirements for Bare Trusts
  Blog / March 08, 2022
  Bare trusts across Canada could soon be required to file annual returns with the Canada Revenue Agency, or face large penalties for failing to report.  On February 4, 2022, the Canadian federal government released draft legislation to implement a variety of proposed tax measures, many of which are discussed in separate Bennett Jones insights. In this piece, we discuss the government's update to the new reporting regime for Canadian resident trusts first announced in the 2018 Federal Budget. While the bulk of the draft legislation implementing the new reporting regime was anticipated and consistent with prior releases, the current proposals significantly expand the reporting requirements to include bare trusts.
• Canada Introduces "Excessive Interest and Financing Expenses Limitation"
  Blog / February 14, 2022
  Multinational corporations, cross-border investments and many other Canadian public and private enterprises, will likely soon face a new and complex interest expense deduction limitation in Canada.  [...]
• Supreme Court of Canada Upholds Treaty-Based Canadian Holding Structure
  Blog / December 17, 2021
  On November 26, 2021, the Supreme Court of Canada (the SCC) released its highly anticipated decision in Canada v Alta Energy Luxembourg SARL, 2021 SCC 49 [Alta Energy Lux], that addressed treaty-based holding structures and the application of the general anti-avoidance rule (GAAR). In a 6-3 majority, the SCC held that the GAAR did not apply to the transactions at issue which resulted in the taxpayer, Alta Energy Luxembourg S.A.R.L. (Alta Lux), not being subject to Canadian tax on the gain realized on the sale of its Canadian oil and gas subsidiary based on the provisions of Canada-Luxembourg Tax Treaty (the Lux Treaty).
• CP Shareholders Overwhelmingly Support Proposed CP-KCS Merger Agreement
  Client Work / December 08, 2021
  Canadian Pacific Railway (CP) has announced that its shareholders voted overwhelmingly in favour of the issuance of CP common shares to Kansas City Southern (KCS) common stockholders in connection with the proposed CP-KCS combination.
• Canadian Pacific and Kansas City Southern Sign Historic US$31-billion Merger
  Client Work / September 29, 2021
  Canadian Pacific Railway and Kansas City Southern have entered into a historic U.S.$31 billion merger, which will create the first single-line rail network linking the United States, Mexico and Canada. CP's winning bid for KCS was a superior proposal to a competing offer by Canadian National Railway.
• Tax Relief for Intergenerational Transfers in Force…For Now
  Blog / July 23, 2021
  The Federal Government has backtracked on its plan to delay the application of Bill C-208, a private member's bill aimed at facilitating intergenerational transfers of small businesses and farms. Until at least November 1, 2021, owners of small businesses and farms can rely on the relieving legislation for genuine intergenerational transfers.
• Tax Relief for Intergenerational Transfers in Limbo
  Blog / July 13, 2021
  Bill C-208, a private member's bill aimed at facilitating intergenerational transfers of small businesses and farms, received Royal Assent and became law on June 29, 2021. Just one day later, on June 30, 2021, the Federal Government issued a news release announcing its intention to introduce legislation that will delay application of the Bill until the start of next year, January 1, 2022.
• Bill C-208 Poised to Facilitate Intergenerational Small Business and Farm Transfers
  Blog / May 27, 2021
  A private member's bill aimed at facilitating intergenerational transfers of small businesses and farms has moved one step closer to becoming law. After passing third reading in the House of Commons on May 12, 2021, with 199 MPs voting in favour and 128 against, Bill C-208, An Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation), must now be voted on by the Senate.
• Canadian Budget Proposes New Cross-border Interest Deductibility Limit
  Blog / April 23, 2021
  The 2021 Canadian Federal Budget, released on April 19, 2021, proposes new rules that would fundamentally alter the interest deductibility landscape for Canadian businesses. The thrust of the new rules (referred to herein as the EBITDA Limit), which are proposed to take effect in 2023, is to directly link an entity's interest deductions to its level of economic activity, based on taxable income before interest, tax, depreciation and amortization.
• Bennett Jones Acting for CP Railway in US$29-billion Combination with Kansas City Southern
  Client Work / March 22, 2021
  Bennett Jones is acting as Canadian counsel for Canadian Pacific Railway in its combination with Kansas City Southern to create the first rail network connecting the United States., Mexico, and Canada. Under the merger agreement, CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately US$29 billion. The transformative transaction has the unanimous support of both boards of directors.
• Bennett Jones Welcomes Nine New Partners
  Announcements / March 08, 2021
  Bennett Jones is pleased to announce that nine lawyers have been admitted to the partnership. They serve clients from our offices throughout the firm and represent a cross section of our practice areas, [...]
• The Multilateral Instrument and Canadian Tax Planning Considerations: The Clock is Ticking
  Blog / July 20, 2020
  The clock is ticking for multinational enterprises and private equity firms with investments in the Canadian resource sector as anti-treaty shopping measures in the OECD's Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) begin to take effect.
• Alberta Advantage: Reduced Corporate Tax Rate Effective July 1, 2020
  Blog / June 30, 2020
  On June 29, 2020, the Government of Alberta introduced Alberta's Recovery Plan which will, among other things, reduce Alberta's general corporate income tax rate to 8%, effective July 1, 2020.
• Extended Federal Tax Filing, Payment and Remittance Deadlines Amid COVID-19
  Blog / March 31, 2020
  As part of Canada's COVID-19 Economic Response Plan announced on March 18, 2020, and through subsequent press releases, the Department of Finance and the Canada Revenue Agency have extended a number of federal tax filing, payment and remittance deadlines. 
• Federal Court of Appeal Upholds Treaty-Based Canadian Holding Structure
  Blog / February 26, 2020
  In Canada v Alta Energy Luxembourg S.A.R.L., 2020 FCA 43, the Federal Court of Appeal concluded that the Canada-Luxembourg tax treaty was not abused when a Luxembourg resident sold shares of a Canadian resource company in circumstances where a greater than $380-million capital gain realized on the sale was exempt from taxation in Canada. 
• B.C. Court of Appeal Gives New Life to Post-Fairmont Rectification
  Articles / January 23, 2020
  Jared Mackey, Derrick Hosanna and Allyson Cairns-Walji authored "B.C. Court of Appeal Gives New Life to Post-Fairmont Rectification" in Bennett Jones on Tax Disputes, Issue 5, published by Thomson Reuters.  In 5551928 Manitoba Ltd v Canada (Attorney General), the B.C. Court of Appeal allowed the rectification of a tax mistake, saving the corporate taxpayer from a punitive 60% tax. The decision highlights the ongoing uncertainty regarding how the narrow test for rectification established by the Supreme Court of Canada in Fairmont Hotels will be applied by Canadian Courts.  
• Rectification Strikes Back: B.C. Court of Appeal Allows Rectification of Tax Mistake
  Blog / November 13, 2019
  On October 30, 2019, the British Columbia Court of Appeal upheld the rectification of an erroneously calculated capital dividend account, saving the corporate taxpayer from a punitive 60% tax.  In [...]
• Tax Treaty Benefits Threatened as Canada Completes Ratification of OECD's Multilateral Instrument
  Blog / September 05, 2019
  On August 29, 2019, Canada completed its domestic ratification of the OECD-sponsored Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI). [...]
• Bennett Jones Speaks before Senate Committee on Tax Issues for Energy Investments
  Blog / May 30, 2019
  On May 29, 2019, Darcy Moch, Greg Johnson and Jared Mackey of Bennett Jones participated on a witness panel before the Standing Senate Committee on Foreign Affairs and International Trade to discuss the [...]
• Bennett Jones on Tax Disputes
  Articles / April 10, 2019
  The inaugural edition of Bennett Jones on Tax Disputes, published on Taxnet Pro by Thomson Reuters, includes Costs Awards under the Tax Court of Canada General Procedure Rules – Recent Trends, Orders for Consolidation and Common Hearings Under Tax Court Rule 26, Cases of Note and Appeals Tables.
• New Ratifications of the OECD's Multilateral Instrument Put Canadian Resource Holding Structures at Risk
  Updates / April 03, 2019
  Tax-efficient holding structures commonly used by multinational enterprises and private equity firms investing in the Canadian resource sector could soon become subject to anti-treaty shopping measures contained in the "Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting".
• Business Measures in 2019 Federal Budget
  Updates / March 22, 2019
  The 2019 Canadian federal budget was released on March 19, 2019 (Budget Day). As many of the proposals are aimed at investing in Canada’s middle class, the Budget was relatively light on proposals affecting businesses. Nevertheless, there are a number of measures of relevance to the business community...
• Orders for Consolidation and Common Hearings Under Tax Court Rule 26
  Updates / January 04, 2019
  Overview of Rule 26 Section 26 of the Tax Court of Canada Rules (General Procedure)1 (the "Tax Court Rules"), referred to as "Rule 26", can be useful where multiple taxpayers are involved in related matters and are simultaneously appealing their respective assessments before the Tax Court, or where a single taxpayer has separately appealed different reassessments. Rule 26 provides litigants before the Tax Court with the ability to consolidate two or more proceedings, have the proceedings heard at the same time or sequentially, or to stay a proceeding until the determination of another. The rule provides: When Proceedings May be Consolidated [26]  Where two or more proceedings are pending in the Court and: (a) they have in common a question of law or fact or mixed law and fact arising out of one and the same transaction or occurrence or series of transactions or occurrences; or (b) for any other reason, a direction ought to be made under this section; the Court may direct that; (c) the proceedings be consolidated or heard at the same time or one immediately after the other; or (d) any of the proceedings be stayed until the determination of any other of them. The underlying policy of Rule 26 is to avoid a multiplicity of proceedings, to promote expeditious and inexpensive determination of those proceedings, and to avoid inconsistent judicial findings. While the application of Rule 26 is technically limited to appeals involving the General Procedure, its application has been extended to appeals under the Informal Procedure.2
• Status of Measures Targeting Private Corporations Following the 2018 Federal Budget
  Updates / March 12, 2018
  The Federal Budget, released February 27, 2018, has clarified federal plans to change the tax treatment of private corporations and represents a substantial retreat from proposals announced in July 2017. In July 2017, the government released a consultation paper and draft legislation which proposed to radically change the taxation of private corporations and their shareholders. The proposals were aimed at: (a) income splitting among family members; (b) passive investment income of private corporations; (c) use of the capital gains exemption by family members; and (d) realizing capital gains on private corporation shares instead of receiving dividends. The proposals were not well received in the small business sector.
• Growing Concerns with Proposed Amendments Affecting Private Businesses and their Shareholders
  Blog / August 10, 2017
  On July 18, 2017, Minister of Finance Bill Morneau announced sweeping changes to the way private businesses and their shareholders are taxed. The Government's proposals encompass three broad areas: (1) [...]
• The Latest Word on Subsequent Legislative History and the GAAR
  Updates / November 01, 2016
  Two recent decisions of the Tax Court involving the general anti-avoidance rule (GAAR) have added to the array of inconsistent and controversial case law on the role of subsequent legislative history in the GAAR analysis.
• Proposed Investment Tax Credit for Small Tech/Tourism Businesses in Alberta
  Blog / October 03, 2016
  On September 29, 2016, Alberta's Minister for Economic Development and Trade was in Calgary to announce a plan to introduce a 30-percent tax credit program for investments in small businesses during the [...]
• Canada Revenue Agency Views on Taxable Canadian Property Determinations Involving Subsidiaries
  Articles / July 01, 2016
  Jared A. Mackey, "Canada Revenue Agency Views on Taxable Canadian Property Determinations Involving Subsidiaries", (July 2016) Tax Topics No 2315 (Wolters Kluwer), at 1.
• Dissenting Shareholders in Amalgamations
  Articles / January 01, 2015
  Jared A. Mackey & Greg Johnson, “Dissenting Shareholders in Amalgamations”, (January 2015) XIII(4) Corporate Structures & Groups (Federated Press) at 744.
• Domestic Anti-Treaty-Shopping Proposals and Further Consultation Announced in Canada's Federal Budget 2014
  Updates / February 18, 2014
  In the Canadian Federal Budget released on February 11, 2014, the Department of Finance signalled its intention to enact a domestic treaty-shopping rule, generally allowing the Canada Revenue Agency to deny treaty benefits when the "main purpose" of a particular transaction is to obtain treaty benefits. This new rule could come into force in the first taxation year after the year in which the final legislation is enacted. The potential for transitional relief is still an open issue. As the government works towards developing draft legislation, it has given stakeholders 60 days to comment on its proposed approach.
• The Role of Subsequent Legislative Amendments in the GAAR Analysis
  Articles / January 01, 2014
  Numerous Canadian courts have used subsequent legislative amendments (amendments made after the time applicable to a transaction) as an important tool of statutory interpretation. In the tax context over the last decade, subsequent legislative amendments have been held to be particularly relevant to the third stage of the general anti-avoidance rule (GAAR) analysis: whether there has been a misuse or abuse of the object, spirit, and purpose of the provisions of the Income Tax Act that are relied on by the taxpayer. In this respect, the Minister typically argues that a subsequent amendment is evidence of a pre-existing policy in the Act that the taxpayer has abused. In contrast, from the taxpayer's perspective, amendments arguably demonstrate that a transaction did not offend any unwritten rule or policy at the time it took place. This article provides a brief review of the role of subsequent legislative amendments in the GAAR analysis. Published by LexisNexis in the January 2014 edition of Canadian Current Tax.
• Department of Finance Releases Consultation Paper on Anti-Treaty Shopping Measures
  Updates / September 03, 2013
  In the March 2013 Federal Budget, the Department of Finance indicated that it intended to initiate a consultation process on certain "treaty shopping" practices.  On August 12, 2013, the government released a consultation paper entitled Treaty Shopping - The Problem and Possible Solutions in which it invites stakeholders to comment on possible approaches to curtail treaty shopping. The government released the consultation paper amidst a broad international review of the potential abuses of tax treaties. On July 19, 2013, the Organization for Economic Cooperation and Development (CD) published its highly anticipated Action Plan on Base Erosion and Profit Shifting, which was subsequently endorsed by the G20 Finance Ministers and Central Bank Governors in Moscow on July 20, 2013.
• Privacy and the Canadian Media: Developing the New Tort of ‘Intrusion Upon Seclusion' With Charter Values
  Articles / January 01, 2012
  Jared A. Mackey, “Privacy and the Canadian Media: Developing the New Tort of ‘Intrusion Upon Seclusion' With Charter Values” (2012) 2:1 UWO J Leg Stud 3.