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
As of August 1, 2015, section 4 of the Nova Scotia Automobile Tort Recovery Limitations Regulations was repealed. This section previously set the discount rate for future losses in automobile tort claims at 3.5%. The repeal…
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Read MoreBy Jennifer Taylor – Research Lawyer September used to mean one thing: back to school. This year, Nova Scotia lawyers get a fresh learning opportunity of a different sort. It comes in the form of the new Limitation…
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Read MoreIn an important case for insurance practice in Nova Scotia, the Court of Appeal has confirmed that the value of future CPP disability benefits is deductible under the SEF 44 family protection endorsement. Justice Scanlan wrote the…
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Read MoreOn April 21, 2015, the Nova Scotia government declared that the new Pension Benefits Act (passed in 2011) and new Pension Benefits Regulations will come into effect on June 1, 2015. The new Regulations follow the new Act and draft Regulations summarized in…
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Read MoreThe Editors’ Corner Michelle Black and Sean Kelly Hello! We are very pleased to be the new Atlantic Employers’ Counsel (AEC) editors. We look forward to bringing you what we hope you will find to be interesting…
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