The federal government’s 2014 Budget contained a host of changes, including “proposals” to change the taxation of eligible capital property (i.e., goodwill, patents, trademarks, intellectual property, etc.) so that it will be taxed in the same way that gains on other depreciable capital property (e.g. equipment, commercial vehicles, etc.) are taxed. While changes to the eligible capital property (“ECP”) regime seem logical and innocuous at first glance, if implemented these changes will lead to […]

The Internal Revenue Service (IRS) recently released guidance allowing participants to allocate the taxable and non-taxable portions of a single distribution from a defined contribution retirement plan into separate accounts.  The rules apply to distributions beginning January 1, 2015, though participants may select an earlier applicability date in certain circumstances.  Sponsors of defined contribution retirement plans should consider how their administrative practices and participant communications may need to be changed in light of these […]