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Jared A. Mackey

Corporate Tax Lawyer at Bennett Jones Calgary

Partner

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.

Deemed US Corporation not a US Treaty Resident

Deemed U.S. Corporation not a U.S. Treaty Resident: HRMC v. GE Financial Investments Ltd.

Spencer Brown

Tax Lawyer at Bennett Jones Calgary

Associate

On October 29, 2024, the Canada Revenue Agency (CRA) <a rel="noopener noreferrer" href="https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/trust-reporting-for-the-2024-tax-year.html" target="_blank">issued a release</a> stating that it will not require bare trusts to file trust returns for the 2024 tax year, continuing the administrative exemption that was <a rel="noopener noreferrer" href="https://www.canada.ca/en/revenue-agency/news/newsroom/tax-tips/tax-tips-2024/bare-trusts-exempt-from-trust-reporting-requirements-2023.html" target="_blank">granted for the 2023 tax year</a>. The CRA's recent announcement follows on the heels of <a rel="noopener noreferrer" href="https://fin.canada.ca/drleg-apl/2024/ita-lir-0824-l-3-eng.html" target="_blank">proposed amendments</a> 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.

CRA Relief and Proposed Amendments Mitigate Bare Trust Reporting Burden on Energy Companies

Anu Nijhawan

M&A, Corporate Financing and International Tax Lawyer at Bennett Jones Calgary

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). <a href="/People/M/Mackey-Jared">Jared Mackey</a> and <a href="/People/N/Nijhawan-Anu">Anu Nijhawan</a> explore the application and interaction of these provisions, which can give rise to unexpected results.

Tax Considerations on the Repayment of Discounted Foreign Currency Obligations

Wesley R. Novotny

Marshall R. Haughey

Wade Ritchie

The Canadian Department of Finance introduced draft legislation in the <a rel="noopener noreferrer" rel="noopener noreferrer" href="https://www.budget.canada.ca/2023/home-accueil-en.html" target="_blank">2023 Canadian Federal Budget</a> (Budget 2023) to create employee ownership trusts (EOTs) to facilitate the transfer of a business to the employees of the business. We provided an overview of the rules initially proposed in Budget 2023 in <a href="https://www.bennettjones.com/Blogs-Section/Employee-Ownership-Trusts-A-Useful-Tool-for-Employee-Business-Ownership">Employee Ownership Trusts—A Useful Tool for Employee Business Ownership?</a>, and recommended various revisions to the proposed rules to improve the tax incentives and ease some of the conditions required to qualify for EOT treatment. The Department of Finance released <a rel="noopener noreferrer" rel="noopener noreferrer" href="https://www.canada.ca/en/department-finance/news/2023/08/government-consults-canadians-on-budget-2023-measures-to-grow-the-clean-economy-close-tax-loopholes-and-deliver-tax-relief-for-canadians.html" target="_blank">revised EOT legislation on August 4, 2023</a>, addressing some of our concerns but not the big one—the revised EOT legislation still contained minimal tax incentives.

Employee Ownership Trusts Improved Tax Incentives Announced

Employee Ownership Trusts—Improved Tax Incentives Announced

Renée Gagnon

Commercial Litigation Lawyer at Bennett Jones Vancouver

Maruska Giacchetto

Paige Lutz

Articling Student at Bennett Jones Vancouver

Articling Student

British Columbia&rsquo;s new Health Professions and Occupations Act will significantly reshape how health professionals are regulated, with changes taking effect April 1, 2026. This blog outlines key updates, including a new oversight body, updated bylaws and expanded statutory duties for licensees.

New Health Professions and Occupations Act is Coming Soon

What BC Health Professionals Need to Know Before April 1, 2026 

Oliver Loxley

Corporate Lawyer at Bennett Jones Vancouver

Aaron E. Sonshine

Corporate Finance, Mergers and Acquisitions and Corporate Governance Lawyer at Bennett Jones Toronto

Partner 

Alexandra Doane

Articling Student at Bennett Jones in Vancouver

The SEC&rsquo;s March 5 exemption preserves the existing insider reporting framework for Canadian foreign private issuers that report through SEDI, despite changes introduced by the HFIAA. This update clarifies cross-border reporting obligations and maintains the status quo for affected issuers and their insiders.

Canadian Foreign Private Issuers Remain Exempt from US Insider Reporting Requirements

James D. Beeby

Corporate Finance, M&A, Private Equity and Venture Capital Lawyer

Lisa Kakoske

Corporate and Securities Lawyer

Harpar Gill

The Canadian Securities Administrators (CSA) has introduced a voluntary Semi-Annual Reporting (SAR) Pilot allowing eligible venture issuers on the TSXV or CSE to file only six-month interim financial reports. The pilot aims to reduce reporting burdens while maintaining key continuous disclosure requirements for investors.

CSA Adopts Semi Annual Reporting Pilot For Venture Issuers

CSA Adopts Semi-Annual Reporting Pilot For Venture Issuers

Ashley M. White

Corporate & Commercial Transactions Lawyer | Power & Energy

Jason D. Roth

Construction & Infrastructure Lawyer | EPC & Project Development

Larissa D. Lees

Regulatory Lawyer at Bennett Jones Calgary

The Government of Alberta has announced plans for a 120-day approval timeline for major projects, aiming to accelerate development while maintaining Indigenous consultation and environmental protections. This initiative, aligned with federal policy and recent Alberta&ndash;Canada agreements, could create more predictable regulatory processes and meaningful investment opportunities across energy, infrastructure, CCUS and critical minerals projects. Industry participants should monitor implementation closely, as details on eligible projects and procedural interaction are still forthcoming.

Major Projects on the Horizon in Alberta

Government of Alberta Announces 120-Day Major Project Approval Timeline

Benjamin K. Reingold

Intellectual Property Litigation Lawyer at Bennett Jones Calgary

Makda Yohannes

Commercial Litigation Lawyer at Bennett Jones Toronto

Stephen D. Burns

Energy & Infrastructure Technology Lawyer | IT/OT & Markets

Partner, Trademark Agent

Artificial intelligence is increasingly being used to understand legal rights and generate court filings, raising concerns about the unauthorized practice of law. This insight examines recent US litigation, key risks and practical considerations for responsible AI use in the Canadian legal context.

Artificial Intelligence and the Practice of Law

Artificial Intelligence and the Practice of Law: Real‑World Implications for the Profession and the Justice System

Preparing for Mandatory Disclosure

From the Same Authors