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Are you a Private Company? Changes Are Coming – Part 1
By May 1, 2020, all private B.C. companies must have a “transparency register” of beneficial owners created and ready for law enforcement officials to inspect. This transparency register tracks personal information on “significant individuals”. If you are a director or officer of a private company, you are responsible for bringing the company into compliance. There is good reason to comply, as transparency registers provide a corporate ‘Blockwatch’-like community effort to prevent illegal laundering of money through legitimate corporate and other business entities. Yet, there may also be reason to withhold information that is not related to anti-money laundering activities or
Cryptocurrency and Tax Compliance
During the recent tax season, we saw a significant rise in the number of clients seeking advice on the implications of their crypto-currency assets. Despite its name and related coin references, cryptocurrency is not a form of legal tender. Nevertheless, proponents believe it will advance the ability to transact globally through superior security and speed. These benefits may explain some of cryptocurrency’s rise as a speculative investment. One can imagine buying 100 Bitcoins in 2012 at $10, then selling them all in 2018 at $6,300 each. A gain of $629,000 would be enough to feel like hitting a small jackpot. Unlike
Do I need a lawyer?
This is a question that many people ask themselves after they had been injured in a motor vehicle accident and present ICBC with a claim. In many cases the real question is: Is it worth it for me to hire a lawyer? In cases where liability for the accident is clearly in your favor a lawyer’s fees are typically a percentage of the settlement or court award. That percentage can sometimes vary depending on the amount of work completed and at what stage in the proceeding the case is resolved. Without a lawyer you are most likely to receive an
When To Settle Your ICBC Claim
When to settle your ICBC claim is a big decision. There is no easy answer and often depends on the facts of each case. Each case is as unique as the individuals involved and no two claims are alike. Similarities do arise from one case to the next and oftentimes the results are heavily dependent on the level of experience of the parties involved, or on whose negotiating. An unrepresented claimant with little or no experience dealing directly with a senior injury adjuster is like taking a knife to a gunfight. You have no chance and it’s over quite quickly.