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Explore the intricacies of incentivizing employees without falling into salary deferral arrangements, as outlined in the Income Tax Act Canada. This article by Jordan Fremont, Anu Nijhawan, and Hennadiy Kutsenko delves into the nuances of deferred cash bonuses, the Three-Year Bonus Exception, and recent CRA guidance. Essential reading for understanding the tax efficiency and legal implications of employee compensation plans, corporate fiscal policies, and incentive award structuring. ....
Bennett Jones acted for Canadian Utilities Limited, an ATCO company and its subsidiaries, in their landmark partnership agreement with the Chiniki and Goodstoney First Nations in respect of the 37-megawatt Deerfoot and 27-megawatt Barlow solar power projects, the largest solar installation in an urban centre in Western Canada. ....
Retirement compensation arrangements RCAs are, in appropriate circumstances, a useful tool for employers to provide supplemental pension benefits to employees, but such arrangements come at a cost of refundable tax under the Income Tax Act Canada the ITA. The 2023 Federal Budget the Budget, released on March 29, 2023 Budget Day, proposes to amend the ITA to exempt, from the refundable tax, fees or premiums to the extent paid for the purposes of securing or renewing a letter of credit or a surety bond for an RCA structured as supplemental to a registered pension plan. ....