My Blog List

Wednesday, 22 November 2017

Canadian Taxation Of Cryptocurrency – Gowling WLG

This article provides a primer on the Canada Revenue Agency ("CRA") preliminary guidance to date regarding the characterization and tax treatment of cryptocurrency, both under the Income Tax Act (Canada) ("ITA") and the Excise Tax Act (Canada) ("ETA").

The original article can be viewed here. 

Saturday, 18 November 2017

The Bitcoin Story

In the press every day I continue to read articles about Bitcoin as it continues to increase in value. At the IFIC Operations Day last week I randomly asked participants about Bitcoin and very few understood. What was surprising was that these persons are seasoned professionals from the largest mutual fund companies in Canada. The bottom line is that due to a limited supply of Bitcoin the value will continue to increase as more buyers flood the market with millions of dollars. However Bitcoin is only worth what someone else is willing to pay for it. This investment is in no way similar to purchasing Google, Apple or Amazon in their startup periods.

For those who would like to understand more about Bitcoin I have found an excellent article from the Globe & Mail.       

Monday, 6 November 2017

Why this product is generating so much buzz in the mutual fund industry - The Globe and Mail

Canadian mutual-fund companies could soon be offering retail investors a class of complex investing strategies currently reserved only for institutions and high-net-worth individuals (Alternative Funds). Regulatory approval for these so-called "liquid alternatives" funds, which are designed to maximize returns while providing downside protection in falling markets, could come as soon as next year.

The complete article can be viewed here.

Monday, 30 October 2017

Cybersecurity Regulatory Guidance – AUM Law

Canadian regulators have been pretty consistent over the last couple of years that registrants need to implement a cybersecurity and social media program as part of its system of controls and risk management obligations. On October  19,  2017,  the  Canadian  Securities  Administrators  (“CSA”)  released  Staff  Notice  33-321 which provides results of a cybersecurity survey that was posed to registrants in October 2016, and  some guidance on the regulator’s expectation regarding what a registrant’s cybersecurity and social media program should look like.

This article from AUM Law primarily summarizes the regulators suggested guidance on cybersecurity and touches on social media.

Tuesday, 10 October 2017

Business Start-up - Taxation of Different Business Structures - Rotfleisch & Samulovitch P.C.

This article will be helpful to an executive of a large corporation planning to start-up a Portfolio Management firm and wants to review the various tax treatments of different legal entities including a partnership and corporation.

The article can be viewed here.

Wednesday, 4 October 2017

U.S. Tax Pain: Canadian Mutual Funds & ETFs – Collins Barrow

For U.S. citizens and those who have U.S. residency status (i.e. green card-holders), investments held in Canadian mutual funds and exchange-traded funds can create significant U.S. tax reporting complexities and additional tax costs. This article broadly reviews the U.S. classification of Canadian mutual funds and ETFs.

The article can be viewed at this link.

Tuesday, 3 October 2017

Proposed Draft Legislation for Investment Limited Partnerships - OSLER

On September 8, 2017, the Department of Finance released draft legislation to amend the Excise Tax Act (Canada) (“ETA”) to make management or administrative services provided by a General Partner to a Limited Partnership subject to GST/HST.

Details can be found at this link.