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Inside Internal Controls

News and discussion on implementing risk management

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Author Archive - Occasional Contributors

In addition to our regular guest bloggers, Inside Internal Controls blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of risk management and best practices in finance and accounting, information technology, environmental issues, corporate governance, sales/marketing and operations, not-for-profits and business related issues in Canada. If you are a subject matter expert and would like to become an occasional blogger, please contact Yosie Saint-Cyr at editor@firstreference.com. If you liked this post and would like to subscribe to Inside Internal Controls blog click here.

Transfer pricing: What’s new in Canada (Part I)

Since 2012, there have been unprecedented developments in Canada and globally in the area of international tax. The sheer volume and complexity of these developments make it difficult for Canadian corporations to keep up on what changes actually impact transfer pricing.

 

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Ten common Builders Lien Act misconceptions

An important object of the Builders Lien Act, S.B.C. 1997, c. 45 is to assist those who contribute their work and materials to a construction project in being paid. However, the use of builders liens and other remedies afforded by the BLA is commonly misunderstood.

 

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Compliance with the Quebec language requirements for display of trademarks to be ‎mandatory on November 24, 2019‎

This information bulletin addresses the language requirements pertaining to display, in a language other than French, of trademarks on real estate in Quebec.

 

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Ways to maintain proper books and records

A recent Tax Court of Canada (“TCC”) decision, Promised Land Ministries v. The Queen[1], serves as a reminder to charities of the importance of maintaining proper books and records.

 

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Prompt payment legislation in British Columbia: Long overdue?

The federal government and several provinces have now each proposed or enacted legislation to create “prompt payment” regimes for construction projects.

 

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New B.C. Business Corporations Act transparency register requirements: A primer

Beginning on a date to be announced, privately-held B.C. Business Corporations Act (“BCA”) companies ‎will be required to maintain a “transparency register” of “significant individuals”, being individuals who:‎

 

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Listing in the REIN: Cruel and unusual punishment under the Charter?

Does the automatic listing in the Register of enterprises ineligible for public contracts (REIN) constitute cruel and unusual punishment within the meaning of section 12 of the Canadian Charter of Rights and Freedoms?

 

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Court highlights value of first-settling defendant co-operation in “ice breaker” settlements

In a recent decision from the Ontario Superior Court of Justice, Di Filippo and Caron v. Bank of Nova Scotia et al, 2019 ONSC 3282 (Di Filippo), Justice Belobaba approved an “ice breaker” settlement in a price-fixing class action despite the “token” settlement amount — which represented less than 6% of the settlement paid by the same defendants in parallel proceedings in the U.S. — on the basis of the “inestimable value” of the first-settling defendants’ agreement to co-operate with class counsel.

 

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Recognizing tax implications for damage awards

THD Inc. c. Sa Majesté la Reine (2018 CCI 147), a recent Tax Court of Canada decision, provides a fresh reminder for lawyers to be mindful of potential tax implications of damage awards.

 

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When does “good faith” limit a company’s choices?

In 2014, the Supreme Court released its ground-breaking decision to recognize a common law duty of good faith in the performance of contracts in Bhasin v Hrynew.

 

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Canada is first jurisdiction worldwide to require diversity disclosure beyond gender; Diversity disclosure rules will apply to federally incorporated public companies effective Jan. 1, 2020

Effective January 1, 2020, corporations governed by the Canada Business Corporations Act (CBCA) with publicly traded securities will be required to provide shareholders with information on the corporation’s policies and practices related to diversity on the board of directors and within senior management, including the number and percentage of members of the board and of senior management who are women, Aboriginal persons, members of visible minorities and persons with disabilities.

 

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Businesses have until November 24 to put their French face forward

As previously reported, Quebec companies that display a non-French trademark on outdoor signage in the absence of a French generic term, slogan or description have until November 24, 2019 to comply with the new rules requiring a “sufficient presence of French”.

 

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TCC ruling on failure to maintain adequate books and records with foreign activity and suspension

This case of Promised Land Ministries v the Queen is vital reading for any Canadian charity conducting foreign activities because of its extensive discussion of books and records and foreign activities.

 

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Failure to [Coin]Launch – Caution for crypto-asset consultants, advisers and service providers

CoinLaunch carried on business as a cryptoasset consultant, offering marketing and promotional services to prospective token issuers.

 

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Making sense of CRA’s new online Canadian charity application system

CRA in June 2019 brought in a new charity application system under their CHAMP modernization program. Here is our article Making sense of CRAs new online Canadian charity application system.

 

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