Michael McKiernan

Michael is a freelance legal affairs reporter who has been covering law and business since 2010.

Lawyers exempted from mandatory disclosure regime until Charter challenge decided

New regime requires every advisor involved in a reportable or notifiable transaction to make their own disclosure to the CRA

By Michael McKiernan | November 30, 2023

3 min read

CRA solidifies notifiable transaction list

Tax advisors still on shaky ground as five sets of transactions are confirmed

By Michael McKiernan | November 8, 2023

3 min read

The pros and cons of corporate-owned life insurance

The complexity of such an arrangement necessitates cooperation between financial advisors and accountants, experts say

By Michael McKiernan | October 4, 2023

5 min read

Lawyers temporarily exempted from CRA’s mandatory disclosure requirements

The Federation of Law Societies of Canada argued that the new regime violates the Charter of Rights and Freedoms

By Michael McKiernan | September 15, 2023

2 min read

Updated tax-avoidance proposals include new penalty

Tax lawyers express concerns about overreach as Ottawa proposes to revamp the general anti-avoidance rule

By Michael McKiernan | September 12, 2023

5 min read

CRA offers minor relief on reportable transactions

The 90-day deadline for the first mandatory disclosures under the new law is Sept. 20

By Michael McKiernan | September 11, 2023

2 min read

Advisors should help business owners prepare for new corporate ownership registry

Bill C-42 would bring public access to private corporations’ beneficial ownership info

By Michael McKiernan | August 2, 2023

4 min read

Wildfires catch the attention of carbon credit funds

Managers face risks from destructive wildfire season

By Michael McKiernan | July 14, 2023

4 min read

Updated GAAR guidance could boost reporting under expanded mandatory disclosure rules

Advisors will need to consider whether to report transactions even if they're not required to

By Michael McKiernan | July 12, 2023

3 min read

Expanded rules for mandatory tax disclosures are now law

Financial advisors may need to report more things to the Canada Revenue Agency

By Michael McKiernan | June 23, 2023

4 min read

Court refuses to force capacity assessment on unwilling senior

B.C. decision could close door on court-ordered capacity assessments, highlighting the importance of helping clients establish estate documents

By Michael McKiernan | March 14, 2023

5 min read