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Competition Act amendments hub
Since 2022, there have been three waves of amendments to the Competition Act resulting in the most significant revisions to Canada’s competition laws in over a decade.
Foreign nongrantor trust for US beneficiaries: dos and don’ts
United States | Publication | April 2022
The throwback tax is the US tax law’s main tool for discouraging tax-free accumulation of income by foreign non-grantor trusts for US beneficiaries. Its complex rules are a dangerous minefield that should be avoided. This article reviews the operation of the throwback tax rules, and assesses the effectiveness of this trust anti-deferral regime in various fact patterns. It also discusses how the trust anti-deferral regime interacts with the US law’s foreign corporation anti-deferral regime, another minefield.
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Co-head of Tax, United States
Email
bill.cavanagh@nortonrosefulbright.com
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Modern Slavery
Since January 1, 2024, federal legislation in Canada requires companies of a certain size that produce, sell, distribute or import goods into Canada to file a report by May 31 each year regarding the risks of forced labour and child labour in their business and supply chains and the efforts taken to reduce those risks.
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