Oct. 08, 2019 - The Québec Superior Court (QSC) recently struck down as unconstitutional back-to-work legislation (Bill 1271) aimed at the Québec government’s advocates and notaries. The decision, released on September 18, 2019, builds on the recent case law of the Supreme Court of Canada which declared that the...
Bright New Idea for Pensions
Davies partner Jessica Bullock describes a new and unique type of hybrid pension plan – target benefit plan (TBP) – whereby the risk is shared equally between the employer and employees. TBPs represent a compromise that is intended to minimize the risks associated with traditional DB and DC pension plans.
In this article, Jessica explains the mechanics of this type of plan and how it is being implemented in New Brunswick, currently the only jurisdiction in Canada that permits the establishment of TBPs. Although Ontario, Alberta, British Columbia and Nova Scotia have enacted legislation to expressly permit TBPs, regulations are still required and the legislation in these jurisdictions has not been proclaimed into force. In Quebec, temporary legislation provides for the establishment of TBPs in certain enterprises. And earlier this year, the federal government announced a proposal to implement TBPs for federally regulated private sector and Crown corporations.
June 19, 2019 - The federal government has released much anticipated draft legislation proposing changes to the rules relating to the taxation of stock options. The legislative proposals are expected to come into force on January 1, 2020, and to apply to option agreements entered into after 2019. The release, on...