Regions

The “Family Tax Cut” is not income splitting

Proposed amendments to the Income Tax Act were released today which include the “Family Tax Cut”. The media is reporting this as an income splitting proposal. I’ve reviewed the amendments and I think at most I would call it simulated income splitting. In simplified terms, here’s how it works.

The Family Tax Credit is a limited tax credit for couples with young children and unequal incomes. You’re eligible for the credit if (i) you have an “eligible relation” – basically a Canadian resident married or common law spouse whom you’re not separated from, (ii) you have a child under 18 that lives with you or your eligible relation (and presumably with both of you since you’re not separated), (iii) you’re resident in Canada, and (iv) you didn’t spend 90 days or more in prison (!).

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Finding Your Cheese in the Marketing Law Maze

Today’s marketing and advertising landscape may be more laden with legal tripwires, regulatory mines, sharp corners, and dead ends than ever before. Technology is definitely evolving in real time, new laws are creating a tangled web of regulation, and consumers are savvier and more in control than ever.

Fortunately, the 36th Annual BAA / PMA Marketing Law Conference – themed Navigating the Marketing Law Maze – is here to help you find that elusive piece of cheese at the end. Taking place November 5 – 7, 2014 at the Windy City’s Downtown Chicago Marriott, the conference is built for inside and outside counsel, marketing executives and the increasingly eclectic mix of professionals caught at the crowded intersection of compliance and consumer outreach.

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OIG Extends Comment Period for Proposed Rule Regarding Permissive Exclusion Criteria

The Office of the Inspector General (“OIG”) of the U.S. Department of Health and Human Services (“HHS”) has extended the deadline, to December 28, 2014, for comments to the non-binding criteria used by OIG in assessing whether to impose a permissive exclusion, which were first published in 1997.  See our previous blog post for information on the OIG’s initial solicitation for comments.

Please reach out to George BreenJonah Retzinger, or Marshall E. Jackson, Jr., for assistance with the preparation and submission of comments.

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Warren Brazier comments in Financial Post on BG’s decision to pause LNG development in Prince Rupert

Warren Brazier comments in the Financial Post on BG Group’s decision to pause its LNG development in Prince Rupert, BC. He explains that, unlike BG Group, the front-runners for LNG projects are companies, such as Petronas, Shell and Chevron, that already own reserves and have joint-venture partners lined up, meaning that BG’s decision will not drastically slow Canadian LNG development. Learn more.

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Court of Appeal clarifies employees’ successor rights

Thinking of picking up a business from a bankrupt company? While the purchase price may be irresistible, some hidden obligations towards employees may surface. Better pay extra attention during the due diligence.

Click here to read Theodore Goloff‘s comments on this topic.

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Multistate Tax Update — October 30, 2014

Maryland voters are paying close attention to the governor candidates’ ideas on taxes. In a recent Washington Post-University of Marylandpoll, 30 percent of likely voters declared that taxes are the single most important issue in deciding which candidate for governor they would support on Election Day.

The two candidates have opposing ideas on the subject. In a Washington Post recap of their recent debate, Democratic nominee Lt. Gov. Anthony Brown pledged that he would neither raise taxes nor implement any new taxes. But he would not go so far as to say he would cut taxes. On the other hand, Republican challenger Larry Hogan supports a reduction in Maryland’s corporate income tax (CIT) rate from 8.25 percent to six percent.

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Chris Ramsay presents at the Continuing Legal Education Society of BC

Chris Ramsay will be presenting today at The Continuing Legal Education Society of BC event “Bankruptcy & Insolvency 2014“. In this full day event, which is taking place at the Pan Pacific Hotel, Chris will be presenting on Informal Proposals. In particular, what an informal proposal is, the advantages and disadvantages of acting for the debtor/creditor, the contents of a forbearance agreement as well as the Fraudulent Conveyance Act, the Fraudulent Preference Act, and the BIA.

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FINRA Reminds Employers that Employees Can Communicate with FINRA and Employers Need to Let them Know!

By Kenneth DiGia and Lauri F. Rasnick

FINRA just issued a reminder regarding its views on confidentiality provisions and confidentiality stipulations.

Settlement Agreements

In Regulatory Notice 14-40, FINRA follows up on its prior Notice to Members 04-44, in which it had cautioned firms about the use of certain provisions in settlement agreements that impede, or have the potential to impede, FINRA investigations and the enforcement of FINRA actions.  Specifically, FINRA had addressed settlement agreement provisions which limited, prohibited or discouraged employees from disclosing settlement terms or underlying facts in dispute to FINRA or securities regulators.  FINRA proposed acceptable language to be included in settlement agreements or similar contracts which contain confidentiality obligations.

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Update on BC IPP Supply

Last week, BC Hydro released updated information with respect to its supply of electricity from independent power producers (IPPs). IPPs include power production companies, First Nations, municipalities and BC Hydro customers.

There are a wide variety of IPP projects located across the province and include renewables such as hydro, wind, biomass and biogas, thermal (natural gas), waste heat recovery and municipal solid waste.

The current total BC IPP capacity is 3,914 MW which generates 16,585 GWh of energy per year. The largest “IPP” project listed is Rio Tinto  Alcan’s hydro project (896 MW / 3,307 GWh/year).

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Ændringsforslag til erstatningsansvarsloven

Regeringen finder, at erstatningsansvarsloven ved beregningen af erhvervsevnetabserstatning
i højere grad end i dag bør sikre ligestilling mellem unge optaget på forskellige ungdomsuddannelser.

Der lægges derfor med lovforslaget op til at justere beregningsprincipperne for udmåling af erhvervsevnestabserstatning for så vidt angår skadelidte, som er optaget på en gymnasial uddannelse eller på den grundlæggende del af en erhvervsuddannelse.

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