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Ontario tweaks Business Corporations Act, making it more business-friendly

This summer, two small but important amendments to the Business Corporations Act (Ontario) came into effect. These amendments eased restrictions on governance so that Ontario businesses can operate more efficiently, ensuring consistency with other Canadian jurisdictions.   Effective July 5, 2021, the new amendments also reduced approval thresholds for written shareholder resolutions and led to ...

Psychedelics treatments are in the public eye  

Recently the use of psychedelics in health care experienced an interesting turning point – not through political gains, but through television.      Hulu’s latest hit, Nine Perfect Strangers, depicts the use of psychedelics as a tool in mental health therapy. Now, for anyone who’s seen the show – which follows a wellness retreat gone wrong – it’s ...

Proposed legislation introduced to reform cannabis taxation in the US

On July 14, 2021, Senate Majority Leader Chuck Schumer released a discussion draft of a detailed cannabis reform bill which, if enacted, would restore the deductibility of all expenses related to cannabis businesses and institute excise taxes on such businesses, resulting in big changes to cannabis taxation. Now backed by Democratic senators Cory Broker ...

The Biden Tax Plan: Where it stands

There has been a lot of talk in the recent news about the Biden tax plan moving forward in Congress.  However, there is no need for panic (yet!), as the potentially affected parties of this legislation are essentially “setting the table” to debate and draft the Biden tax plan. The Democrats hold a narrow ...

US Tax Update: Remote Sellers Sales Tax

Bloomberg Law reports that state revenue agencies are finally getting serious about requiring out-of-state retailers to collect tax on e-commerce transactions, frustrated that less than half of such sellers are in full compliance with their sales tax rules. The Wayfair Ruling Under the US Supreme Court’s holding in Wayfair, it was decided that electronic ...

Will stock option taxation changes hurt hiring?

Employers in Canada’s emerging industries like cannabis, psychedelics, and agritech are concerned about how upcoming changes to the taxation of stock options will impact their ability to recruit top talent. Traditionally, stock options are among the most enticing incentives used to attract senior talent; particularly the type of executives who are equipped to drive ...