Tax and Succession Planning for the Family Business
November 27 & 28, 2024 at 9:00AM PST
Downtown Vancouver and Live Webinar
Tax and Succession Planning for the Family Business
November 27 & 28, 2024
Overview
With family businesses comprising the majority of enterprises across Canada, navigating effective tax and succession planning has never been more critical. As demographic shifts continue to shape our economy, it's imperative for owners and families to prepare for the complexities ahead. Legal and financial landscapes are evolving, presenting both challenges and opportunities that demand informed strategies.
Our comprehensive program focuses on the intricate aspects of safeguarding and transferring family businesses. Led by expert faculty, you will gain practical insights and proven strategies to navigate unstable markets, impending successions, tax implications, and nuanced family dynamics.
Don't miss this opportunity to equip yourself with the latest planning techniques and structures designed to preserve wealth and protect family interests effectively. Join us to advance your practice and ensure the long-term success of your family business in a dynamic environment.
Key Areas to be Addressed:
Key tax and legal developments affecting small businesses, including the capital gains inclusion rate increase
US tax and estate issues where cross-border considerations are involved
Drafting agreements
Family offices
Family trusts
Building cohesion and dealing with discord within a family business
Who Should Attend:
Lawyers who practise in the areas of business, succession planning or taxation
Accountants practising in areas of personal and/or corporate taxation, estate planning or advisory services for small business
Banking and trust company executives and managers
Owners and managers of family owned businesses
Financial planners
Business consultants
Agenda
Day One - November 27, 2024
9:00 - Welcome and Introduction by PBLI
9:05 - Chairs’ Welcome and Introduction to Day One
Chris Ireland
PPI Advisory
Alison Oxtoby
Fasken Martineau DuMoulin LLP
9:10 - Tax Update: Key Developments Impacting the Family Business
Richard Weiland
Clark Wilson LLP
Income Tax Act amendments
Canada Revenue Agency pronouncements
Recent tax decisions
10:00 - Questions and Discussion
10:10 - Refreshment Adjournment
10:25 - Case Law and Legislative Update: Key Developments Impacting the Family Business
Nicole Krige
Fasken Martineau DuMoulin LLP
Recent cases affecting family businesses
11:15 - Questions and Discussion
11:25 - Post-Mortem Planning
Chris Ireland
PPI Advisory
12:15 - Questions and Discussion
12:25 - Networking Lunch
1:15 - The Capital Gains Inclusion Rate Increase
Michael Coburn
Fasken Martineau DuMoulin LLP
How to help your clients manage the increase
Dealing with the Employee Ownership Trust (EOT) and Canadian Entrepreneurs’ Incentive (CEI) rules – how practical are these rules for the family business?
2:05 - Questions and Discussion
2:15 - Refreshment Adjournment
2:30 - Family Offices
Henry Shew
Our Family Office
The value of family offices for family business owners
3:20 - Questions and Discussion
3:30 - Life Estates and the Land (Spousal Protection) Act
Geoffrey White, KC
Geoffrey W. White Law Corporation/Clark Wilson LLP
4:20 - Questions and Discussion
4:30 - Chairs’ Closing Remarks – Program Concludes for Day One
Day Two - November 28, 2024
9:00 - Chairs’ Welcome and Introduction to Day Two
Chris Ireland
PPI Advisory
Alison Oxtoby
Fasken Martineau DuMoulin LLP
9:05 - US Tax and Cross-Border Estate Planning
Ryan Gill
KPMG LLP
Barb Eby
KPMG LLP
Review of US Tax basics
US estate tax and relate planning
US anti-deferral rules
US beneficiaries of Canadian trusts
Cross-border estate freezes
Post–mortem planning with US taxpayers
Federal and state wealth taxes – are they on the horizon?
Common cross-border tax scenarios
Potential implications arising from the US presidential election
9:55 - Questions and Discussion
10:05 - Refreshment Adjournment
10:20 - We Can Work It Out: Helping Families Facing Discord
In this two-part session, we’ll take suggestions from the Beatles on working with clients at the crossroads of family, business, and conflict.
Part 1 - Come Together: Crafting Cohesion in Family Businesses
Kathy Bright
Trella Advisory Group
The Beatles' classic 'Come Together' captures the essence of unity and the importance of joining forces to overcome challenges. It is this spirit of collaboration that we aim to harness in our first session, which will focus on strategies to foster cohesion and overcome discord in family-run businesses.
Part 2 - The Long and Winding Road: Charting a Course Through Family Business Separation
Ian Humphries
Thorsteinssons LLP
In the second session, the theme shifts to acknowledge that sometimes the long and winding road leads to separation. We'll discuss how to help clients navigate this reality and structure a fair separation. Whether aiming to unite or to independently thrive, these sessions will aim to provide a roadmap to help families facing discord.
11:45 - Questions and Discussion
11:55 - Chairs’ Closing Remarks
12:00 - Program Concludes
Meet the Co-Chairs
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Senior Vice-President, Planning Services, PPI Advisory, Vancouver, BC
Mr. Ireland has over 30 years of tax experience including several years as a tax partner in the Vancouver office of KPMG where he was in charge of the firm’s national estates and trusts practice and the Vancouver office’s personal tax services group. Mr. Ireland has been the coordinator and lecturer for the CICA advanced tax course, “Advanced Tax Issues for the Owner-Managed Business”. Mr. Ireland is currently on the board of STEP Canada as well as being Deputy Chair. He is a past Chair of the Vancouver branch of STEP and a past president of the Vancouver Estate Planning Council. Mr. Ireland is a frequent lecturer and author in the area of tax planning and wealth preservation.
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Counsel, Fasken Martineau DuMoulin LLP, Vancouver, BC
Alison’s practice is focused on wealth management, estate planning, trusts, and personal and corporate tax planning. She works with high-net-worth individuals, families and owner-managers to develop customized strategies to manage and transfer wealth. Alison has also authored papers and presented to the Continuing Legal Education Society of BC, the Canadian Bar Association, the Law Society’s Professional Legal Training Program, the Chartered Professional Accountants of BC, the Society of Trust and Estate Practitioners (STEP), Federated Press and the Pacific Business & Law institute. She was a co-editor and contributing author of the Annotated British Columbia Business Corporations Act, published by Canada Law Book.
Meet the Faculty
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Consultant, Trella Advisory Group, Vancouver, BC
Kathy has a long history in governance, serving on numerous private, government and not-for-profit boards over her career. She currently serves as the Vice Chair and Governance Chair for a provincial crown and a federal crown, as well as an Independent Director for a privately held corporation in the Real Estate industry. In addition to her governance work, Kathy has an active consulting practice, where she has worked with boards, executive teams and enterprising families for nearly twenty years. As a consultant, educator and board director, she works through issues of strategy and governance in business and ownership contexts. She has acted as the President and an Officer of the Board for Family Enterprise Canada and Director of the Board of the Business Families Centre at UBC’s Sauder School of Business, in addition to holding teaching and leadership roles with both organizations. Working now with Trella, Kathy offers insightful consulting perspectives, with interests in leadership, succession and continuity planning, strategy, risk management, governance structures, fiduciary responsibility, and the development and maintenance of positive relationships in enterprising families.
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Partner, Fasken Martineau DuMoulin LLP, Vancouver, BC
Michael Coburn’s practice focuses on a broad range of corporate and personal tax matters. He regularly advises clients on the most tax-efficient means of completing a transaction, and he has extensive experience with respect to the tax implications and structuring of mergers and acquisitions, corporate reorganizations, financings, and other business transactions. Mike also regularly assists clients in disputes with the Canada Revenue Agency and other taxing authorities. Mike was included in the Canadian “Best Lawyers” list for the past three years, and he has previously presented at professional development courses provided by CLE BC and CPA Canada.
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Manager, Tax, KPMG LLP, Vancouver, BC
Barb is a cross-border tax professional with experience in US estate and gift tax, Canadian departure tax, foreign tax credits, and various tax treaties.
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Partner, KPMG LLP, Vancouver, BC
Ryan is a partner in KPMG’s Global Mobility Services (GMS) tax group, specializing in Private Client – Cross-Border Tax. With more than 13 years of experience, Ryan serves cross-border private clients with a focus on high net worth individuals and families, and family offices. Ryan practises in the area of tax planning and compliance for individuals, estates and trusts in a Canadian and US cross-border context. He advises individuals on both sides of the border on tax matters related to their residence, compensation including equity compensation, investments including real estate, retirement plans, estates, trusts, gifts and expatriation. He has experience in cross-border reorganizations and post-mortem planning involving US citizens and residents. He is also involved in the preparation of Canadian and US tax returns for individuals, estates, and trusts. Ryan has been a speaker and presenter at events for the Pacific Business & Law Institute, CPABC chapters, STEP Vancouver, STEP Canada, UBC, SFU, and more. Ryan is a contributing editor of Carswell Publications “Tax Planning for You and Your Family” and “Death of a Taxpayer”.
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Partner, Thorsteinssons LLP, Vancouver, BC
Ian’s practice focuses primarily on advising private Canadian corporations and their shareholders on income tax matters, including mergers and acquisitions, corporate reorganizations, succession planning, estate planning and tax planning with trusts. Additionally, Ian represents taxpayers in certain tax controversy matters, primarily at the audit and administrative appeals level. Ian is a former co-author of the taxation chapter of the CLE Annual Review of Law and Practice and has authored a number of papers on various income tax matters.
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Associate, Fasken Martineau DuMoulin LLP, Vancouver, BC
Nicole Krige is a trusts and estate litigation lawyer in Fasken's Vancouver office. Remaining flexible and responsive to evolving case developments, Nicole’s primary focus is implementing strategic solutions that align with her client's goals. Called to the BC bar in 2023, and the South African bar in 2011, Nicole brings over a decade of experience as a barrister with extensive courtroom representation in trials, motions and appeals.
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Managing Director of Tax and Senior Client Advisor, Our Family Office, Toronto, ON
Henry is the Managing Director of Tax and Senior Client Advisor at Our Family Office. Henry is highly detailed and experienced and relies on a variety of tools to create and implement customized tax strategies to meet the objectives of the family. Henry’s tax experience also extends to international countries, often advising families with cross-border issues. As the Senior Client Advisor, Henry manages the relationship with families and ensures that family wealth is preserved and grown for generations to come while meeting the family’s core values.
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Partner, Clark Wilson LLP, Vancouver, BC
Richard’s practice is focused on tax, trusts and estate planning. He helps clients to realize their business and succession goals in a tax-effective manner. He also advises executors and trustees on legal and tax matters. Richard has taught Taxation of Trusts and Estates as an adjunct professor at the Peter A. Allard School of Law at UBC, and regularly speaks and writes on tax and estate matters for professional and lay audiences.
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Counsel, Geoffrey W. White Law Corporation/Clark Wilson LLP, Kelowna, BC
Geoffrey White has 25+ years of expertise in will, estate and trust matters. He assists clients both at his “heritage” office in Kelowna and at Clark Wilson LLP in downtown Vancouver. Geoff is an editor of BC’s Probate & Estate Administration Practice Manual, which is acknowledged as the primary source for all estate matters in the province. He has litigated estate and trust matters at all levels of court including the BC Court of Appeal and Supreme Court of Canada. These matters include: discretionary trusts, multiple wills, removal of an executor, and international conflict of laws. He is currently the chair of the BC Law Foundation, and has held leadership roles with national Canadian Bar Association, the Society of Estate and Trust Practitioners, and Estate Planning Societies. Geoffrey White has been recognized by Best Lawyers Canada for Trusts and Estate Law since 2019.
Registration Form
Program:
Tax and Succession Planning for the Family Business
Date:
November 27 & 28, 2024
Location:
UBC Robson Square (800 Robson Street - Classroom level), Vancouver, BC
Registration:
The registration fee is $1,280.00 plus GST of $64.00 totaling $1,344.00 for webinar and in-person attendance. Registration fee covers your attendance at the program and electronic materials. In-person attendance includes a catered lunch and refreshments throughout the day.
Early Bird Discount:
Register by October 28, 2024 and receive a $150 discount on the registration fee ($1,130.00 plus GST). Discounts cannot be combined.
Group Discount:
Register four persons from the same organization at the same time and you are entitled to a complimentary fifth registration. Discounts cannot be combined.
If you would like to register a group, please fill out this form and email it to registrations@pbli.com:
Payment:
You may pay by VISA, Mastercard or cheque. Cheques should be made payable to the Pacific Business & Law Institute and mailed to Unit 2-2246 Spruce Street, Vancouver, BC V6H 2P3. Please do not send cheques via courier with signature required.
When and Where:
Check-in begins at 8:30 a.m. The program starts at 9:00 a.m. (PST). UBC Robson Square is located at 800 Robson Street in Vancouver, BC, and our event will take place on the classroom level. Please visit https://robsonsquare.ubc.ca/find-us/ for directions.
Materials:
The faculty will prepare papers and/or other materials explaining many of the points raised during this program. Materials will be distributed electronically. Please contact us at registrations@pbli.com if you are unable to attend the program and wish to purchase a set of materials.
Cancellations/Transfers:
Refunds will be given for cancellations (less a $60.00 administration fee) if notice is received in writing five full business days prior to the program (November 20, 2024). After that time we are unable to refund registration fees. Substitutions will be permitted. We reserve the right to cancel, change or revise the date, faculty, content, availability of webinar or venue and transfer in-person registration to webinar registration for this event.
To register by phone:
Telephone us: 604-730-2500
Your Privacy:
We will keep all information that you provide to us in strict confidence, other than to prepare a delegate list containing your name, title, firm and city for our faculty and the program delegates. We do not share our mailing lists with any non-affiliated organization.
Course Accreditation:
Course Accreditation: Attendance at this course can be listed for up to 9 hours of continuing professional development credits with the Law Society of BC. For practitioners in other jurisdictions, please check your governing body’s CPD requirements.
If you would like to register a group, please fill out this form (DOWNLOAD FORM) and email it to registrations@pbli.com; for individual registration, please continue with form below.