Farris Tax Lawyers, Chris Ellett and Trevor Shum, recently wrote for Lexpert’s “Legal insights” series on upcoming changes to the Income Tax Act (Canada) brought about by amended draft legislation released by the Department of Finance in August. The article discusses when and how taxpayers and their advisors must report certain transactions to the Canada Revenue Agency under the new and revised rules, and the potential consequences of failing to do so. Read the full article here.
Chris Ellett specializes in providing income and commodity tax advice to owner-managed businesses and high-net-worth families, with particular emphasis on business reorganizations, business sales, and intergenerational business succession in both the domestic and cross-border environments. Trevor Shum’s practice involves advising individuals and companies on corporate and tax matters, including mergers and acquisitions, corporate reorganizations, individual tax planning and dispute resolution.