Client Update – Nova Scotia Unlimited Companies: An Update
Withholding tax and other issues under the Fifth Protocol
The Fifth Protocol to the Canada-US Tax Convention, 1980 introduced significant changes which may affect the use of most unlimited companies and other so-called ULCs. These new rules will come into effect on January 1, 2010. US investors currently using or considering using ULCs to structure their Canadian investments should consult with their professional advisors. It may be desirable to undertake transactions in 2009 that are currently subject to treaty-reduced withholding rates, such as the payment of dividends and interest.
For more information, please download a copy of this Client Update.
Archive
By Killian McParland and Sophie Poulos As recently announced, the next Nova Scotia provincial election will be held on Tuesday, November 26, 2024. Under Nova Scotia’s Elections Act, every employee who is an eligible voter (i.e.…
Read MoreBy Sadira Jan, Dave Randell, Nancy Rubin, Kimberly MacLachlan, and Onye Njoku Bill 471, the Advancing Nova Scotia Opportunities Act, received Royal Assent and introduces changes to the Canada-Nova Scotia Offshore Petroleum Resources Accord Implementation…
Read MoreBy Sadira Jan, Dave Randell, Nancy Rubin, G. John Samms, Kimberly MacLachlan, and Jamie Gamblin Bill C-49 received Royal Assent and will amend the Canada–Newfoundland and Labrador Atlantic Accord Implementation Act and the Canada-Nova Scotia…
Read MoreBy John Morse The New Brunswick provincial election is set to take place on Monday, October 21, 2024, with polling hours between 10:00 a.m. to 8:00 p.m. Under the New Brunswick Elections Act, all employees…
Read MoreLevel Chan and Dante Manna On September 9, 2024, the Canadian Association of Pension Supervisory Authorities (CAPSA) released the long-awaited final revisions to Guideline No. 3 – Guideline for Capital Accumulation Plans (CAPs) and the…
Read MoreSean Kelly and Tiegan A. Scott On September 5, 2024, the “Stronger Workplaces for Nova Scotia Act” (Bill No. 464) was introduced in the Nova Scotia House of Assembly for first reading by the Honourable Jill Balser…
Read MoreJohn A.C. Morse and Lauren Sorel The Human Rights Tribunal of Alberta (the “Tribunal”) recently awarded three complainants a total of $273,274.91 in compensation, with $155,000.00 of this amount designated as general damages – a…
Read MoreStephen Penney and Megan Kieley1 The Newfoundland and Labrador Court of Appeal’s recent decision in Index Investments Inc v Paradise (Town)2 is a significant decision for municipalities. The Court of Appeal endorsed the Newfoundland and…
Read MoreBy Kathleen Leighton & Brittany Trafford The Temporary Foreign Worker Program (“TFWP”) and International Mobility Program (“IMP”) provide Canadian employers the opportunity to hire foreign workers to address their labour needs, particularly when qualified Canadians…
Read MoreThis is the second in a two-part Thought Leadership series on a recent life insurance case out of Alberta, and the implications for life insurers. Michelle Chai and Liz Campbell1 Part I of this two-part series…
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