Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

Recommended

Catherine Hammon, Osborne Clarke

You may not have heard of a digital revolution knowledge lawyer before. That is because the role did not exist until September 2017. Catherine Hammon is waving the flag for the digital revolution, ensuring all of Osborne Clarke’s lawyers are tooled up to understand its commercial and legal implications for clients. Because of this, it […]

Dan Wright, Osborne Clarke

After more than a decade as a corporate lawyer in the energy sector, Osborne Clarke’s Dan Wright felt ready to leave fee-earning to embrace the rise of new technology. He successfully went from solving transactional problems to assisting clients in their digital transformation journeys. He set up the firm’s service innovation programme, a 10-strong client-facing […]

Gender pay

Osborne Clarke improves partner gender pay gap in latest figures

Osborne Clarke has revealed the gender pay gap among its partners has dropped to 16 per cent (both on an average and median basis), as it publishes its second round of reporting for its highest-earners. The firm has attributed the gap reduction to the increase in the number of women in higher-paid roles, making up […]

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