Michael McKiernan

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

Regulation

Corporate transparency legislation now in force

The new requirements could surprise small businesses that aren't used to making these types of disclosures

By Michael McKiernan |January 23, 2024

1 min read

Tax News

New penalty remains as GAAR legislation tabled

Officials have no room to distinguish between cases driven by aggressive tax planning and those involving legitimate uncertainty

By Michael McKiernan |December 8, 2023

1 min read

Tax News

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

1 min read

Tax News

CRA solidifies notifiable transaction list

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

By Michael McKiernan |November 8, 2023

1 min read

Life

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

1 min read

Tax News

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

1 min read

Tax News

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

1 min read

Tax News

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

1 min read

Tax News

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

1 min read

Products

Wildfires catch the attention of carbon credit funds

Managers face risks from destructive wildfire season

By Michael McKiernan |July 14, 2023

1 min read

Tax News

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

1 min read

Tax News

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

1 min read

Estate Planning

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

1 min read

Market Insights

Cash products on the rise as interest rates spike

The pros and cons of the major products available to clients

By Michael McKiernan |February 1, 2023

1 min read

Industry

Banking alliance distances itself from UN campaign over emissions targets

Canada's big banks said they're still focused on net-zero commitments

By Michael McKiernan |December 6, 2022

1 min read

Tax News

Mandatory tax disclosure reprieve likely only temporary

The government is delaying implementation of rules that could affect advisors whose clients use aggressive tax planning

By Michael McKiernan |November 8, 2022

1 min read

Advisor's Edge

Financial planners adjust to new retirement realities

Retirement doesn’t look the same as it did 20 years ago. Plans shouldn’t, either.

By Michael McKiernan |November 7, 2022

1 min read

Estate Planning

B.C. lawyers still wary after a year of electronic wills

Lawyers suggest there are too many unknowns in the process to sway them from more traditional methods

By Michael McKiernan |October 13, 2022

1 min read

Planning and Advice

Divorce should prompt investment strategy review, say financial planners

Valuations for property division are tied to the date of separation, rather than the date a divorce is granted

By Michael McKiernan |September 28, 2022

1 min read

Industry

Pandemic splits getting nastier as divorce trends hold steady

Family lawyers say the pandemic manifested more in the intensity of matters than in the volume of cases

By Michael McKiernan |September 16, 2022

1 min read

More Columnists

Ben Felix

Planning and Advice

What is a safe withdrawal rate in retirement?

November 28, 2023|4 min read

Coreen Sol

Unravelling confirmation bias

December 15, 2023|2 min read

Why less is more when it comes to investment decisions

October 25, 2023|3 min read

Sam Sivarajan

Planning and Advice

Understanding clients means helping them feel in control

December 20, 2023|3 min read

How our five brains affect financial advice

October 23, 2023|3 min read

Catherine Hung

Tax & Estate

Beware of tainting GRE status

January 17, 2024|4 min read

Avoid double taxation on wealth transfers to the next generation

October 26, 2023|4 min read

Matt Trotta

Tax & Estate

RRSPs and estate administration

November 15, 2023|6 min read

RESPs and blended families

August 30, 2023|5 min read

Mark Rosen

Investments

Advisors should be wary of conflicts when reviewing stock ratings

December 15, 2023|3 min read

Some energy firms are quietly separating their ESG businesses

September 15, 2023|3 min read