Developments in cyber-risk insurance coverage
At one time, organizations may have assumed that losses due to cyber risks were covered under their commercial general liability policies. However, today broad policy exclusions with respect to a host of data-related losses are commonplace. Except for ‘Y2K’ data exclusions which arose at the turn of the century amid fears that electronic devices would fail to distinguish between century years, exclusions with respect to data loss and liability for data loss were generally not contemplated.
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Budget 2024: Legislative Changes of Note for Investment Funds
In Budget 2024, the Government acknowledges that the restrictions placed on the property that may be held by registered plans have become unduly complex.
Budget 2024: Clean Energy Incentives and Resource Sector Measures
Budget 2024 prioritizes Canada’s transition to a net-zero economy and contains several measures aimed at facilitating that ongoing transition.
Budget 2024: Synthetic Equity Arrangement Restrictions Tightened
Budget 2024 proposes to tighten the “synthetic equity arrangement” anti-avoidance rule by eliminating the no “tax-indifferent investor” exception.
Budget 2024: Increases in the Taxation of Capital Gains
Budget 2024 proposes to significantly change how capital gains are taxed under the Income Tax Act (Canada).
Budget 2024: Expanded Relief for Non-Resident Service Providers
Budget 2024 will expand the circumstances under which relief may be granted from withholdings on payments made to non-residents that render services in Canada.
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